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Financial Reporting Bulletins (Revised as of 2022)
This Accounting Alert is issued to circulate the Revised Financial Reporting Bulletins of Securities and Exchange Commission.
Clarifications on the VAT rules for Registered Business Enterprises (RBEs) under the CREATE Law
This Tax Alert is issued to inform all concerned on the clarifications on the VAT rules applicable to Registered Business Enterprises (RBEs) pursuant to Revenue Regulations No. 21-2021, implementing Sections 106 and 108 of the Tax Code, in relation to Sections 294(E) and 295(D), Title XIII of the Tax Code as introduced by Republic Act No. 11534, also known as the CREATE Act and its Implementing Rules and Regulations.
Suspension of income tax incentives of RBEs for violating WFH threshold/guidelines prescribed by FIRB
This Tax Alert is issued to inform all concerned on the possible suspension of income tax incentives granted to Registered Business Enterprises (RBEs) in the IT-BPM sector for violating Work-From-Home (WFH) threshold requirements and conditions prescribed by the Fiscal Incentives Review Board (FIRB) in FIRB Resolution Nos. 19-21 and 23-21.
Application of PFRS 17 for Health Maintenance Organizations
This Accounting Alert is issued to circulate Insurance Commission (IC/Commission) Circular Letter (CL) No. 2022-12 dated March 7, 2022 applicable to all health maintenance organizations (HMOs) on the application of Philippine Financial Reporting Standards (PFRS) 17, Insurance Contracts.
Implementation of the 4% Contribution Rate and Salary Cap for the Year 2022
With reference to the request for guidance on the implementation of the PhilHealth premium increase of 4% for Calendar Year 2022, with an income floor of P10,000 and income ceiling of P80,000, it is advised that pursuant to Section 10 of Republic Act (RA) No. 11223 or the "Universal Health Care Act", the increase in the rates of contribution and income ceiling shall carry on as scheduled.