Subject: WEEKLY TAX UPDATES [AUG 4] DOLE chief Tolentino says P85 wage hike will prevail despite TRO

WEEKLY TAX UPDATES

AUGUST 4

  1. TAX & BUSINESS-RELATED NEWS [JULY 27-AUGUST 4]

  2. BIR PRESCRIBES POLICIES, GUIDELINES & PROCEDURES FOR THE AVAILMENT OF A ONE-TIME ABATEMENT OF TAXES AND/OR PENALTIES FOR MICRO TAXPAYERS

  3. SEC IMPLEMENTS PAPERLESS FILING FOR SELECT AMENDMENT APPLICATIONS VIA eAMEND PORTAL

  4. COURT OF TAX APPEALS CASE

1. TAX & BUSINESS-RELATED NEWS [JULY 27-AUGUST 4]

1. Long weekends to look forward to in August 2026

2. Mark Villar files bill exempting MSMEs from 2% tax on gross income

3. PH's road to high income status begins

4. DOLE chief Tolentino says P85 wage hike will prevail despite TRO

5. P800K worth of Davao fresh produce shipped to Saudi Arabia — DA

6. Alden Richards, Barbie Forteza among top taxpayers of BIR

7. Hontiveros files bill seeking power rate cap during emergencies

8. DOTr to Villar on LRT-1: 'Take it or leave it'

9. DOTr: 105 expropriation cases filed to resolve NSCR right-of-way issues

10. Hiraya Water, formerly PrimeWater, starts P600-million Cavite project

11. Marcos issues new policy to boost local EV manufacturing

12. JV Ejercito files bill seeking tax exemption for monthly income up to P50,000

13. Senate bill seeks extension of PRC ID validity to 5 years

14. GSIS, Maxicare launch zero-interest loan for HMO coverage of government workers

15. Vietnam’s biggest company, Vingroup, expands overseas as its home market slows

16. BIR files P416-M tax evasion cases vs. POGO-linked firm, others

17. Razon-Pacquiao group’s Socoteco bid gains traction

18. HD Hyundai launches first vessel at Subic, marks new era of PH shipbuilding

19. PAGCOR decoupling to cost health care up to P2.1 billion yearly

20. Higher vape taxes, green levies to offset P50-B tax relief cost – R. Quimbo

21. DOE drafting circular on energizing data centers amid Pax Silica concerns

22. SunAsia to invest P12 billion for Laguna Lake solar farms

23. Marcos lifts Duterte ban on new economic zones in NCR —DTI

24. Young Pinoy entrepreneurs can access up to P500K loans from DTI's SBCorp.

DISCLAIMER!

We saw these tax and business-related news on various news sites, and we thought you should see them. DMD is not responsible for the content of these news, and anything written thereon does not necessarily reflect DMD views or opinions.

Long weekends to look forward to in August 2026 [GMA Lifestyle, August 3, 2026]

Heads up! It's time to plan your travel and rest days for August 2026 in line with the upcoming long weekends.

 

Mark Villar files bill exempting MSMEs from 2% tax on gross income [Inquirer.Net, August 3, 2026]

Senate Bill No. 2362, once passed and signed into law, will provide much-needed tax relief to businesses that serve as significant drivers of the country’s economy, with data pointing out that the sector contributed an estimated 35.7 percent of the gross domestic product (GDP), he said.

 

PH's road to high income status begins [ABS-CBN News, August 3, 2026]

World Bank said each country has a different journey when it comes to climbing the income ladder. It said Russia took less than 10 years from the time it entered upper-middle income to move up to high income. Costa Rica took almost 25 years from upper-middle income to high income.


DOLE chief Tolentino says P85 wage hike will prevail despite TRO [GMA News Online, August 2, 2026]

Earlier, Tolentino clarified that employers must honor and pay wage increases already earned by workers before the TRO took effect.

 

P800K worth of Davao fresh produce shipped to Saudi Arabia — DA [GMA News Online, August 2, 2026]

The shipment, which departed on July 24, consisted of 1,350 boxes of Cardava bananas, 50 boxes of sweet potatoes, and 50 boxes of jicama (locally known as singkamas), the DA said.

 

Alden Richards, Barbie Forteza among top taxpayers of BIR [GMA News online, July 31, 2026]

According to Nelson Canlas' report on "24 Oras” on Friday, the BIR honored the two Kapuso stars not only for their tax contributions but also for using their platforms to remind the public about the importance of paying the correct taxes.

 

Hontiveros files bill seeking power rate cap during emergencies [GMA News Online, July 31, 2026]

With rising energy costs, Senate Bill No. 2361 filed on July 29 seeks to “provide immediate, effective, and structural protection to electricity consumers, especially during emergencies and crises,” Hontiveros said.

 

DOTr to Villar on LRT-1: 'Take it or leave it' [The Manila Times, July 31, 2026]

Should the Villar Group reject the government's terms, Lopez said he would order construction to proceed all the way to the Zapote and Niog stations in Bacoor (Cavite)—without the Las Piñas station.

 

DOTr: 105 expropriation cases filed to resolve NSCR right-of-way issues [GMA News Online, July 31, 2026]

The Transportation Department said the cases were addressed during a three-day “Write Workshop on Expropriation Cases” held in Clark, Pampanga, where the two agencies jointly reviewed the status of each case, addressed legal bottlenecks, and mapped out steps to expedite their resolution.

 

Hiraya Water, formerly PrimeWater, starts P600-million Cavite project [The Philippine Star, July 30, 2026]

Hiraya Water Corp., formerly PrimeWater Infrastructure Corp., has started rehabilitating and expanding its water distribution system by launching a P600-million project to upgrade services in Dasmariñas City, Cavite.

 

Marcos issues new policy to boost local EV manufacturing [The Philippine Star, July 30, 2026]

President Ferdinand Marcos Jr. issued Executive Order No. 121 on Thursday, July 30, to develop the country's local electric vehicle (EV) manufacturing industry.

 

JV Ejercito files bill seeking tax exemption for monthly income up to P50,000 [GMA News Online, July 29, 2026]

Ejercito filed Senate Bill No. 2341, which seeks to amend the National Internal Revenue Code by raising the annual income tax exemption threshold from the current P250,000 to P600,000.

 

Senate bill seeks extension of PRC ID validity to 5 years [GMA News Online, July 29, 2026]

Senator Christopher “Bong’ Go has filed a measure extending the validity of the Professional Regulation Commission (PRC) professional ID to five years.

 

GSIS, Maxicare launch zero-interest loan for HMO coverage of government workers [GMA News Online, July 29, 2026]

The Ginhawa Health Assistance Loan (G-HEALTH) aims to help government employees maximize the medical allowance granted under Executive Orders Nos. 64 and 95 by providing a way to enroll in health insurance without the burden of paying the premium in one lump sum.

 

Vietnam’s biggest company, Vingroup, expands overseas as its home market slows [The Manila Times, July 29, 2026]

HANOI, Vietnam — Vietnam's biggest conglomerate, Vingroup, is moving into global markets as business at home slows, planning nearly two dozen projects in at least 15 countries, from a "Vietnam Town" in Uzbekistan to smart cities in India and a riverfront development in Congo.

 

BIR files P416-M tax evasion cases vs. POGO-linked firm, others [Philippine News Agency, July 29, 2026]

The Bureau of Internal Revenue (BIR) has filed three criminal cases for tax evasion against a Philippine Offshore Gaming Operator (POGO)-linked company, a construction firm, and two VAT-registered real estate sellers.

 

Razon-Pacquiao group’s Socoteco bid gains traction [The Philippine Star, July 28, 2026]

Under the proposal, Ignite Power, a joint venture between Razon-led Primelectric Holdings and Pacquiao’s MP Holdings, will provide fresh capital to support Socoteco 2’s rehabilitation efforts.

 

HD Hyundai launches first vessel at Subic, marks new era of PH shipbuilding [The Manila Times, July 28, 2026]

HD Hyundai Heavy Industries Philippines (HHIP) Inc. launched its first completed vessel at the Agila Subic Shipyard on July 28, 2026, signaling a major milestone for the Korean shipbuilder's operations in the country.

 

PAGCOR decoupling to cost health care up to P2.1 billion yearly [The Philippine Star, July 28, 2026]

Geronimo Law said that once privatization pushes through, PAGCOR would shed its role as operator and function solely as a regulator, collecting license fees.

 

Higher vape taxes, green levies to offset P50-B tax relief cost – R. Quimbo [Inquirer.Net, July 28, 2026]

The estimated P50-billion revenue loss from President Ferdinand R. Marcos Jr.’s proposed tax relief package for Filipino workers can be fully offset through higher taxes on vape products, tobacco, sugar-sweetened beverages and single-use plastics.


DOE drafting circular on energizing data centers amid Pax Silica concerns [GMA News Online, July 28, 2026]

Pax Silica is the US Department of State's flagship initiative on artificial intelligence and supply chain security, aimed at advancing a new economic security framework among allies and trusted partners.

 

SunAsia to invest P12 billion for Laguna Lake solar farms [The Philippine Star, July 28, 2026]

Led by former agriculture undersecretary Tetchi Capellan, SunAsia is a local renewable energy developer focused on innovative clean energy solutions, including floating solar and solar-on-water projects.

 

Marcos lifts Duterte ban on new economic zones in NCR —DTI [GMA News Online, July 28, 2026]

This development was bared by Trade Secretary Cristina Roque in a statement on Tuesday, saying “the Department of Trade and Industry (DTI) welcomes the Office of the President’s decision to officially lift the Administrative Order No. 18 (AO 18) moratorium on IT ecozone expansion in Metro Manila.”

 

Young Pinoy entrepreneurs can access up to P500K loans from DTI's SBCorp. [GMA News Online, July 27, 2026]

Young Filipino entrepreneurs can borrow up to P500,000 from the government to expand their enterprise initiatives under the Youth Enterprise Fund (YEF) of the Small Business Corporation (SBCorp.), the financing arm of the Department of Trade and Industry (DTI).

2. BIR PRESCRIBES POLICIES, GUIDELINES & PROCEDURES FOR THE AVAILMENT OF A ONE-TIME ABATEMENT OF TAXES AND/OR PENALTIES FOR MICRO TAXPAYERS

Revenue Memorandum Order (RMO) No. 19-2026, issued on July 23, 2026, prescribes policies, guidelines, and procedures in the processing of applications for the availment of a one-time abatement of taxes and/or penalties for Micro Taxpayers pursuant to Revenue Regulations (RR) No. 004-2026. The Order provides the documentary requirements, application procedures, and processing guidelines for taxpayers with delinquent accounts, tax assessments, open stop-filer cases, open case penalties, and compromise penalties. Qualified micro taxpayers with basic tax or penalties not exceeding ₱80,000 per taxable year may avail of the program until December 31, 2026, upon submission of the One-Time Abatement for Micro Taxpayers Application Form (BIR Form No. 2121), the required supporting documents, and payment of the ₱5,000 abatement fee through BIR Form No. 0605. The Revenue District Office (RDO) is responsible for processing applications and issuing the Certificate of Availment, while the appropriate BIR offices shall issue the Certificate of Existence of Outstanding Tax Liability (CEOTL), cancel eligible assessments, lift applicable collection remedies, update taxpayer records, and submit the required reports.

3. SEC IMPLEMENTS PAPERLESS FILING FOR SELECT AMENDMENT APPLICATIONS VIA eAMEND PORTAL

SEC Memorandum Circular No. 21, Series of 2026, posted on July 20, 2026, provides guidelines on the implementation of paperless filing for select amendment applications through the Electronic Application for Modification of Entity Data (eAMEND) Portal.  Specifically, it establishes an optional paperless processing lane, under Simple Processing, for select amendment applications.  Paperless filing will cover amendments to both the Articles of Incorporation and By-laws. Other amendments remain subject to hard copy submission. All uploaded documents are deemed official filings, with originals to be safeguarded by the Corporate Secretary. Notwithstanding the electronic submission, the Amendment Form and documentary requirements remain subject to notarization. Approved applications are subject to random SEC post-evaluation and inspection to verify authenticity and compliance. Violations, including misrepresentation, falsified documents, or failure to present originals, may result in revocation of amendments, disqualification from paperless filing, administrative sanctions, and civil or criminal liability.

4. CTA CASE

[ABSENCE OF A LETTER OF AUTHORITY (LOA) RENDERS A BIR TAX ASSESSMENT VOID] [A LETTER NOTICE (LN) CANNOT SUBSTITUTE FOR AN LOA IN TAX ASSESSMENTS]

The case involves consolidated Petitions for Review before the Court of Tax Appeals (CTA) En Banc filed by both the Commissioner of Internal Revenue (CIR) and Bukidnon II Electric Cooperative, Inc. (BUSECO). The CIR argued that a Letter of Authority (LOA) was not required because the assessment was conducted through a "no-contact audit" system based on computerized matching of VAT data, maintaining that the Letter Notice (LN) sufficiently authorized the investigation and assessment. On the other hand, BUSECO countered that a valid LOA is required before any audit or examination may be conducted, and that an LN cannot substitute for an LOA. Further, BUSECO argued that the BIR’s letter denied its protest by stating that the assessment will become final and executory unless it executed a waiver of prescription, thereby rendering the assessment appealable to the CTA. In contrast, the CIR further countered that the letter was merely an informational communication, not a Final Decision on Disputed Assessment (FDDA), such that BUSECO should have awaited either an FDDA or the lapse of the prescribed period before seeking judicial relief. In ruling, the Court En Banc held that the assessment was void because no LOA was issued, emphasizing that an LN cannot replace the statutory and due process requirement of an LOA. The Court further held that the BIR letter effectively operated as a final action by the BIR because it stated that failure to execute the waiver would render the assessment final, executory and demandable. Thus, the Court found it proper for judicial remedy with the CTA. Consequently, BUSECO’s Petition for Review was PARTIALLY GRANTED affirming the cancellation of 2012 assessment and reversed the dismissal of BUSECO’s 2014 case. [COMMISSIONER OF INTERNAL REVENUE VS. BUKIDNON II ELECTRIC COOPERATIVE, INC. (BUSECO), CTA EN BANC CASE NO. 2997, BUKIDNON II ELECTRIC COOPERATIVE, INC. (BUSECO) VS. COMMISSIONER OF INTERNAL REVENUE, CTA EN BANC CASE NO. 3013, JULY 7, 2026]


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