GFC Accounting Services

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Accounting, Bookkeeping, Auditing, Business Consultations and Compliances (BIR,PEZA, LGU, DOLE, DENR and Others), ISO Set-up, Start-up Company Registration and Set-up, Business Support, Documentations and other Professional Services

AUGUST 2026 TAX DEADLINES | Stay Compliant, Stay Ahead! ๐Ÿ“…Don't let tax deadlines catch you by surprise. Mark your calend...
04/08/2026

AUGUST 2026 TAX DEADLINES | Stay Compliant, Stay Ahead! ๐Ÿ“…

Don't let tax deadlines catch you by surprise. Mark your calendars and ensure your returns are filed on time to avoid penalties and unnecessary stress.

Need assistance with your tax filing, accounting, or compliance requirements? We're here to help make the process simple and stress-free.

Message us here:
๐Ÿ“ฉ [email protected]
๐Ÿ“ Santa Rosa, Laguna

๐’๐„๐‚ ๐€๐ƒ๐Ž๐๐“๐’ ๐‹๐€๐“๐„๐’๐“ ๐…๐ˆ๐๐€๐๐‚๐ˆ๐€๐‹ ๐‘๐„๐๐Ž๐‘๐“๐ˆ๐๐† ๐๐‘๐Ž๐๐Ž๐”๐๐‚๐„๐Œ๐„๐๐“๐’The Securities and Exchange Commission (SEC) has issued ๐Œ๐ž๐ฆ๐จ๐ซ๐š๐ง๐๐ฎ๐ฆ ๐‚...
30/07/2026

๐’๐„๐‚ ๐€๐ƒ๐Ž๐๐“๐’ ๐‹๐€๐“๐„๐’๐“ ๐…๐ˆ๐๐€๐๐‚๐ˆ๐€๐‹ ๐‘๐„๐๐Ž๐‘๐“๐ˆ๐๐† ๐๐‘๐Ž๐๐Ž๐”๐๐‚๐„๐Œ๐„๐๐“๐’

The Securities and Exchange Commission (SEC) has issued ๐Œ๐ž๐ฆ๐จ๐ซ๐š๐ง๐๐ฎ๐ฆ ๐‚๐ข๐ซ๐œ๐ฎ๐ฅ๐š๐ซ ๐๐จ. ๐Ÿ๐Ÿ, ๐’๐ž๐ซ๐ข๐ž๐ฌ ๐จ๐Ÿ ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ”, adopting the latest Philippine Financial Reporting Standards (PFRS) and Philippine Interpretations Committee Questions and Answers (PIC Q&As) to ensure that the country's financial reporting framework remains aligned with current accounting and sustainability reporting developments. Issued on July 23, the circular forms part of the SEC's ongoing efforts to strengthen its financial reporting rules and regulations.

The updated framework incorporates the newest PFRS, PIC Q&As, and other related financial reporting pronouncements into the Commission's regulatory requirements. While the PFRS establishes the standards for the recognition, measurement, presentation, and disclosure of financial statements, the PIC Q&As provide guidance and clarification on the practical application of these standards, promoting greater consistency and transparency in financial reporting.

Source: https://www.sec.gov.ph/mc-2026/sec-mc-no-22-series-of-2026adoption-of-philippine-financial-reporting-standards-pfrss-and-philippine-interpretations-committee-questions-and-answers-pic-qas/?fbclid=IwY2xjawTXgvZleHRuA2FlbQIxMABicmlkETEyeUUzNXNKYlFqZXVSRUVnc3J0YwZhcHBfaWQQMjIyMDM5MTc4ODIwMDg5MgABHu9evUxIWNGoDVgdTR_6jSRBVEy31cCpxNTu5HnOV-5qiCAzTlTyG4UDecbf_aem_g1mT2KDUNOeAqSA9yLSzSg .tab=0

Need assistance with compliance? We're here to help you stay on top of your reporting and compliance requirements.

Message us here:
๐Ÿ“ฉ [email protected]
๐Ÿ“ Santa Rosa, Laguna

๐‚๐‘๐„๐€๐“๐ˆ๐Ž๐ ๐Ž๐… ๐€๐‹๐๐‡๐€๐๐”๐Œ๐„๐‘๐ˆ๐‚ ๐“๐€๐— ๐‚๐Ž๐ƒ๐„ (๐€๐“๐‚) ๐Ž๐… ๐’๐„๐‹๐„๐‚๐“๐„๐ƒ ๐‘๐„๐•๐„๐๐”๐„ ๐’๐Ž๐”๐‘๐‚๐„ ๐”๐๐ƒ๐„๐‘ ๐‘๐‘ ๐๐Ž. ๐ŸŽ๐ŸŽ๐Ÿ’-๐Ÿ๐ŸŽ๐Ÿ๐Ÿ”The Bureau of Internal Revenue (...
29/07/2026

๐‚๐‘๐„๐€๐“๐ˆ๐Ž๐ ๐Ž๐… ๐€๐‹๐๐‡๐€๐๐”๐Œ๐„๐‘๐ˆ๐‚ ๐“๐€๐— ๐‚๐Ž๐ƒ๐„ (๐€๐“๐‚) ๐Ž๐… ๐’๐„๐‹๐„๐‚๐“๐„๐ƒ ๐‘๐„๐•๐„๐๐”๐„ ๐’๐Ž๐”๐‘๐‚๐„ ๐”๐๐ƒ๐„๐‘ ๐‘๐‘ ๐๐Ž. ๐ŸŽ๐ŸŽ๐Ÿ’-๐Ÿ๐ŸŽ๐Ÿ๐Ÿ”

The Bureau of Internal Revenue (BIR) has issued ๐‘๐ž๐ฏ๐ž๐ง๐ฎ๐ž ๐Œ๐ž๐ฆ๐จ๐ซ๐š๐ง๐๐ฎ๐ฆ ๐Ž๐ซ๐๐ž๐ซ (๐‘๐Œ๐Ž) ๐๐จ. ๐ŸŽ๐Ÿ๐Ÿ–-๐Ÿ๐ŸŽ๐Ÿ๐Ÿ”, establishing Alphanumeric Tax Codes (ATCs) for specific revenue sources covered under Revenue Regulations (RR) No. 004-2026. The issuance is intended to facilitate the accurate identification, monitoring, and processing of tax payments made under the One-Time Tax Abatement Program for qualified micro taxpayers.

Source: https://bir-cdn.bir.gov.ph/BIR/pdf/RMO%20No.%2018-2026_redacted.pdf?fbclid=IwY2xjawTVIzxleHRuA2FlbQIxMABicmlkETFHTE5TWEdmRFEwRlJBcmRzc3J0YwZhcHBfaWQQMjIyMDM5MTc4ODIwMDg5MgABHgU-cLmb5fgKdZic6X5Plg554-UyanUXjTGJhHu9OpqHsmadKQ3JpXYaCcry_aem_ZmFrZWR1bW15MTZieXRlcw

Need assistance with compliance? Weโ€™re here to help you navigate the updated filing guidelines.

Message us here:
๐Ÿ“ฉ [email protected]
๐Ÿ“ Santa Rosa, Laguna

๐๐ˆ๐‘ ๐ˆ๐’๐’๐”๐„๐’ ๐‚๐‹๐€๐‘๐ˆ๐…๐ˆ๐‚๐€๐“๐ˆ๐Ž๐๐’ ๐Ž๐ ๐Ž๐๐„-๐“๐ˆ๐Œ๐„ ๐€๐๐€๐“๐„๐Œ๐„๐๐“ ๐๐‘๐Ž๐†๐‘๐€๐Œ ๐…๐Ž๐‘ ๐Œ๐ˆ๐‚๐‘๐Ž ๐“๐€๐—๐๐€๐˜๐„๐‘๐’The Bureau of Internal Revenue (BIR) has rele...
28/07/2026

๐๐ˆ๐‘ ๐ˆ๐’๐’๐”๐„๐’ ๐‚๐‹๐€๐‘๐ˆ๐…๐ˆ๐‚๐€๐“๐ˆ๐Ž๐๐’ ๐Ž๐ ๐Ž๐๐„-๐“๐ˆ๐Œ๐„ ๐€๐๐€๐“๐„๐Œ๐„๐๐“ ๐๐‘๐Ž๐†๐‘๐€๐Œ ๐…๐Ž๐‘ ๐Œ๐ˆ๐‚๐‘๐Ž ๐“๐€๐—๐๐€๐˜๐„๐‘๐’

The Bureau of Internal Revenue (BIR) has released ๐‘๐ž๐ฏ๐ž๐ง๐ฎ๐ž ๐Œ๐ž๐ฆ๐จ๐ซ๐š๐ง๐๐ฎ๐ฆ ๐‚๐ข๐ซ๐œ๐ฎ๐ฅ๐š๐ซ (๐‘๐Œ๐‚) ๐๐จ. ๐Ÿ–๐Ÿ’-๐Ÿ๐ŸŽ๐Ÿ๐Ÿ” to provide additional guidance on the implementation of Revenue Regulations (RR) No. 4-2026, which governs the One-Time Abatement of Taxes and/or Penalties for Micro Taxpayers. Presented in a question-and-answer format, the Circular addresses common concerns on taxpayer eligibility, documentary requirements, filing procedures, payment of the one-time abatement fee, covered tax liabilities and penalties, application deadlines, and other key implementation matters. It also includes illustrative examples to help taxpayers determine whether they qualify for the program.

The Circular further clarifies that taxpayers may confirm their Micro Taxpayer classification through the BIR Online Registration and Update System (ORUS) or by coordinating with their respective Revenue District Offices. It also explains the treatment of pending compromise and abatement applications, one-time transactions, open case penalties, multiple taxable years, and partial payments, while outlining the grounds for denial of applications and the importance of the Certificate of Availment issued to qualified applicants. Taxpayers are encouraged to review RMC No. 84-2026 to better understand the requirements and procedures for availing of the One-Time Abatement Program.

Source: https://bir-cdn.bir.gov.ph/.../RMC%20No.%2084-2026...

Need assistance with compliance? Weโ€™re here to help you navigate the updated filing guidelines.

Message us here:
๐Ÿ“ฉ [email protected]
๐Ÿ“ Santa Rosa, Laguna

๐†๐”๐ˆ๐ƒ๐„๐‹๐ˆ๐๐„๐’ ๐…๐Ž๐‘ ๐๐€๐๐„๐‘๐‹๐„๐’๐’ ๐…๐ˆ๐‹๐ˆ๐๐† ๐Ž๐… ๐€๐Œ๐„๐๐ƒ๐Œ๐„๐๐“๐’ ๐“๐Ž ๐‚๐Ž๐‘๐๐Ž๐‘๐€๐“๐„ ๐ƒ๐Ž๐‚๐”๐Œ๐„๐๐“๐’The Securities and Exchange Commission (SEC) has int...
27/07/2026

๐†๐”๐ˆ๐ƒ๐„๐‹๐ˆ๐๐„๐’ ๐…๐Ž๐‘ ๐๐€๐๐„๐‘๐‹๐„๐’๐’ ๐…๐ˆ๐‹๐ˆ๐๐† ๐Ž๐… ๐€๐Œ๐„๐๐ƒ๐Œ๐„๐๐“๐’ ๐“๐Ž ๐‚๐Ž๐‘๐๐Ž๐‘๐€๐“๐„ ๐ƒ๐Ž๐‚๐”๐Œ๐„๐๐“๐’

The Securities and Exchange Commission (SEC) has introduced new guidelines allowing corporations to file select amendment applications electronically through the Electronic Application for Modification of Entity Data (eAMEND) Portal without submitting hard copies. Under ๐Œ๐ž๐ฆ๐จ๐ซ๐š๐ง๐๐ฎ๐ฆ ๐‚๐ข๐ซ๐œ๐ฎ๐ฅ๐š๐ซ ๐๐จ. ๐Ÿ๐Ÿ, ๐’๐ž๐ซ๐ข๐ž๐ฌ ๐จ๐Ÿ ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ”, issued on July 17, corporations may opt for a paperless filing process under the Simple Processing lane to streamline transactions, improve regulatory efficiency, and support sustainability initiatives.

The paperless option applies to specific amendments to the Articles of Incorporation and By-Laws, including changes to the principal office address, term of existence, board composition, fiscal year for one person corporations, and the annual meeting schedule of stockholders or members. While the paperless process is available, corporations may still choose the existing Simple or Regular processing lanes that require physical document submission. The new circular complements previous eAMEND guidelines and reflects the SEC's continued efforts to enhance digital services, simplify compliance, and improve the ease of doing business in the Philippines.

Source: https://www.sec.gov.ph/mc-2026/sec-mc-no-21-series-of-2026/

Need assistance with compliance? Weโ€™re here to help you navigate the updated filing guidelines.

Message us here:
๐Ÿ“ฉ [email protected]
๐Ÿ“ Santa Rosa, Laguna

07/07/2026

๐๐‘๐Ž๐‚๐‹๐€๐Œ๐€๐“๐ˆ๐Ž๐ ๐๐Ž. ๐Ÿ๐Ÿ‘๐Ÿ๐Ÿ—, ๐ฌ. ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ”

Declaring Friday, 10 July 2026, a Special (Non-Working) Day in the City of Santa Rosa, Province of Laguna

Visit the Official Gazette website: https://www.officialgazette.gov.ph/EYpAUS

Timely tax compliance is an essential part of running a successful business. Keep track of this month's important BIR de...
01/07/2026

Timely tax compliance is an essential part of running a successful business. Keep track of this month's important BIR deadlines and ensure your filings are submitted on time.

Let GFC Accounting Services help you stay compliant while you focus on growing your business.

๐Ÿ“ฉ [email protected]
๐Ÿ“ Santa Rosa, Laguna

30/06/2026

๐Ÿ“ข ๐—ก๐—ข๐—ง๐—œ๐—–๐—˜: ๐—˜๐˜…๐˜๐—ฒ๐—ป๐˜€๐—ถ๐—ผ๐—ป ๐—ผ๐—ณ ๐˜๐—ต๐—ฒ ๐—ง๐—ฟ๐—ฎ๐—ป๐˜€๐—ถ๐˜๐—ถ๐—ผ๐—ป๐—ฎ๐—น ๐—จ๐˜€๐—ฒ ๐—ผ๐—ณ ๐˜๐—ต๐—ฒ ๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿฌ ๐—š๐—ฒ๐—ป๐—ฒ๐—ฟ๐—ฎ๐—น ๐—œ๐—ป๐—ณ๐—ผ๐—ฟ๐—บ๐—ฎ๐˜๐—ถ๐—ผ๐—ป ๐—ฆ๐—ต๐—ฒ๐—ฒ๐˜ (๐—š๐—œ๐—ฆ) ๐—™๐—ผ๐—ฟ๐—บ ๐—ณ๐—ผ๐—ฟ ๐—š๐—œ๐—ฆ ๐—ฎ๐—ป๐—ฑ ๐—•๐—ฒ๐—ป๐—ฒ๐—ณ๐—ถ๐—ฐ๐—ถ๐—ฎ๐—น ๐—ข๐˜„๐—ป๐—ฒ๐—ฟ๐˜€๐—ต๐—ถ๐—ฝ ๐——๐—ฒ๐—ฐ๐—น๐—ฎ๐—ฟ๐—ฎ๐˜๐—ถ๐—ผ๐—ป (๐—•๐—ข๐——) ๐—ฃ๐—ฎ๐—ด๐—ฒ ๐—™๐—ถ๐—น๐—ถ๐—ป๐—ด ๐—ง๐—ต๐—ฟ๐—ผ๐˜‚๐—ด๐—ต ๐—ฒ๐—™๐—”๐—ฆ๐—ง ๐—จ๐—ป๐˜๐—ถ๐—น ๐Ÿฏ๐Ÿญ ๐—๐˜‚๐—น๐˜† ๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿฒ

The Securities and Exchange Commission (SEC) informs all corporations and other concerned stakeholders that the transitional use of the 2020 General Information Sheet (GIS) Form, which includes the Beneficial Ownership Declaration (BOD) Page, is extended until 31 July 2026.

During the extension period, corporations may continue to file their GIS and BOD Page through eFAST using the 2020 GIS Form without being redirected to the Hierarchical and Applicable Relations and Beneficial Ownership Registry (HARBOR).

This extension is intended to facilitate a smooth transition to HARBOR while the Commission continues to address technical issues affecting the filing process.

For inquiries and technical assistance:
๐Ÿ“ž Dial 1-4SEC (1-4732).
๐Ÿ’ฌ Visit the SEC iMessage portal at https://imessage.sec.gov.ph/

Read the full notice here: https://www.sec.gov.ph/notices/extension-of-the-transitional-use-of-the-2020-general-information-sheet-gis-form-for-gis-and-beneficial-ownership-declaration-bod-page-filing-through-efast-until-31-july-2026/

๐„๐—๐“๐„๐๐ƒ๐ˆ๐๐† ๐“๐‡๐„ ๐ƒ๐ˆ๐’๐‚๐Ž๐”๐๐“๐„๐ƒ ๐…๐„๐„๐’ ๐…๐Ž๐‘ ๐‘๐„๐†๐ˆ๐’๐“๐‘๐€๐“๐ˆ๐Ž๐ ๐Ž๐… ๐’๐„๐‚๐”๐‘๐ˆ๐“๐ˆ๐„๐’ ๐…๐Ž๐‘ ๐Œ๐ˆ๐‚๐‘๐Ž, ๐’๐Œ๐€๐‹๐‹, ๐€๐๐ƒ ๐Œ๐„๐ƒ๐ˆ๐”๐Œ ๐„๐๐“๐„๐‘๐๐‘๐ˆ๐’๐„๐’ (๐Œ๐’๐Œ๐„๐’)The Securit...
30/06/2026

๐„๐—๐“๐„๐๐ƒ๐ˆ๐๐† ๐“๐‡๐„ ๐ƒ๐ˆ๐’๐‚๐Ž๐”๐๐“๐„๐ƒ ๐…๐„๐„๐’ ๐…๐Ž๐‘ ๐‘๐„๐†๐ˆ๐’๐“๐‘๐€๐“๐ˆ๐Ž๐ ๐Ž๐… ๐’๐„๐‚๐”๐‘๐ˆ๐“๐ˆ๐„๐’ ๐…๐Ž๐‘ ๐Œ๐ˆ๐‚๐‘๐Ž, ๐’๐Œ๐€๐‹๐‹, ๐€๐๐ƒ ๐Œ๐„๐ƒ๐ˆ๐”๐Œ ๐„๐๐“๐„๐‘๐๐‘๐ˆ๐’๐„๐’ (๐Œ๐’๐Œ๐„๐’)

The Securities and Exchange Commission (SEC) has extended its initiative to support micro, small, and medium enterprises (MSMEs) by continuing to offer a 50% discount on filing fees for the registration of securities until December 31, 2026. This extension, formalized through ๐’๐„๐‚ ๐Œ๐ž๐ฆ๐จ๐ซ๐š๐ง๐๐ฎ๐ฆ ๐‚๐ข๐ซ๐œ๐ฎ๐ฅ๐š๐ซ ๐๐จ. ๐Ÿ๐Ÿ—, ๐’๐ž๐ซ๐ข๐ž๐ฌ ๐จ๐Ÿ ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ”, aims to encourage more MSMEs to access the capital market as an alternative source of funding for business growth and expansion.

The discounted filing fees apply to corporations registering securities for public offerings, including those processed under the SECโ€™s streamlined registration procedures. Eligible entities include power generation and distribution utility companies, real estate developers and managers involved in rental pool arrangements, agribusiness firms, and hospitals, making it easier for these businesses to raise capital while reducing regulatory costs.

Source: https://www.sec.gov.ph/mc-2026/sec-mc-no-19-series-of-2026extending-the-discounted-fees-for-registration-of-securities-for-micro-small-and-medium-enterprises-msmes/?fbclid=IwY2xjawSwJ79leHRuA2FlbQIxMABicmlkETIwU21UWmFKU0duMU54S1pEc3J0YwZhcHBfaWQQMjIyMDM5MTc4ODIwMDg5MgABHmtcSQ-Pq9j74iXe7hNV8MDWb-yN2XpkdZ11JlO4VArglzg_GKCjlglo8f9r_aem_QitBjpDk0FOgGCd3ZPGCvg&__cf_chl_f_tk=m_hsqzWHxLfjMWXD7Gy8v0daGF6qTFZecP3TI2OILl4-1782794352-1.0.1.1-OF4mu7aIY8OMCZxJheVOaVqN_oo6WYHMUx28uKi.2.Q .tab=0

Need assistance with compliance? Weโ€™re here to help you navigate the updated filing guidelines.

Message us here:
๐Ÿ“ฉ [email protected]
๐Ÿ“ Santa Rosa, Laguna

๐๐ˆ๐‘ ๐“๐€๐— ๐€๐๐€๐“๐„๐Œ๐„๐๐“ ๐๐‘๐Ž๐†๐‘๐€๐ŒThe Bureau of Internal Revenue (BIR) has launched a one-time tax abatement program under ๐‘๐ž๐ฏ๐ž๐ง๐ฎ...
26/06/2026

๐๐ˆ๐‘ ๐“๐€๐— ๐€๐๐€๐“๐„๐Œ๐„๐๐“ ๐๐‘๐Ž๐†๐‘๐€๐Œ

The Bureau of Internal Revenue (BIR) has launched a one-time tax abatement program under ๐‘๐ž๐ฏ๐ž๐ง๐ฎ๐ž ๐‘๐ž๐ ๐ฎ๐ฅ๐š๐ญ๐ข๐จ๐ง๐ฌ ๐๐จ. ๐Ÿ’-๐Ÿ๐ŸŽ๐Ÿ๐Ÿ”, allowing qualified micro taxpayers to settle outstanding tax liabilities, delinquent accounts, assessments, and stop-filer cases until December 31, 2026. The program is available to micro taxpayers with annual gross sales not exceeding โ‚ฑ3 million and covered tax liabilities and/or penalties of up to โ‚ฑ80,000 per taxable year, provided the cases existed as of December 31, 2025. Qualified applicants are required to file an application with their respective Revenue District Office (RDO) and pay a one-time abatement fee of โ‚ฑ5,000 for each approved application.

The initiative aims to help micro businesses and inactive taxpayers resolve long-standing tax issues, update their BIR records, and encourage voluntary compliance. It complements the BIR's earlier simplified business closure guidelines under Revenue Memorandum Circular No. 47-2026, making it easier for taxpayers to properly close businesses and regularize their tax status. Upon approval, the BIR will issue a Certificate of Availment, confirming that the covered tax case has been settled and officially closed.

Read full article here: https://bir-cdn.bir.gov.ph/BIR/pdf/RR%20No.%204-2026_Redacted.pdf?fbclid=IwY2xjawSq-DRleHRuA2FlbQIxMABicmlkETJWcEVMaTlxdzgwV3ZiZ3V0c3J0YwZhcHBfaWQQMjIyMDM5MTc4ODIwMDg5MgABHjJJUDs6bauCR3hdPZ49e0lj1veoTLVkg2NFBl-6qIgQP8aC3hZJPRHCAg7n_aem_S7IdTo8fjikrNgATSD3qww

Need assistance with compliance? Weโ€™re here to help you navigate the updated filing guidelines.

Message us here:
๐Ÿ“ฉ [email protected]
๐Ÿ“ Santa Rosa, Laguna

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