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Statutory deadlines falling due during the period of Alert Level 3 or higher extended for 30 calendar days for affected taxpayers; out-of-district filing allowed

28 Jan 2022

This Tax Alert is issued to inform all concerned on the extended statutory deadlines for taxpayers within the jurisdiction of Revenue Regions (RR) and Revenue District Offices (RDO) of the Bureau of Internal Revenue classified under Alert Level 3 or higher. Out-of-district filing and payment of taxes are also allowed.

Year-end Reminders on Debt Modifications, Impairment, Going Concern, CREATE Act, and Transfer Pricing

26 Jan 2022

This Accounting Alert is issued to provide a reminder to companies on their assessment and accounting for debt modifications, impairment, going concern, CREATE Act, and transfer pricing.

Configuration or Customization Costs in a Cloud Computing Arrangement

26 Jan 2022

This Accounting Alert is issued to circulate International Financial Reporting Standards (IFRS) Viewpoint on treatment and accounting configuration or customization costs in a cloud computing arrangement.

BIR Form 2316 of employees qualified for substituted filing shall still be accepted by the BIR even without employee signature

24 Jan 2022

This Tax Alert is issued to inform all concerned taxpayers on the relaxed rules on the submission of Certificate of Compensation Payment/ Tax Withheld for Compensation Payment With or Without Tax Withheld (BIR Form No. 2316).

IASB provides transition option to insurers applying IFRS 17

24 Jan 2022

This Accounting Alert is issued to summarize the amendments to IFRS 17, Insurance Contracts, issued by the IASB on December 9, 2021 to provide insurers with transition options in applying IFRS 17.