Subject: WEEKLY TAX UPDATES [JAN 22] SEC exempts micro enterprises from audited FS requirement

WEEKLY TAX UPDATES

JANUARY 22

  1. TAX & BUSINESS-RELATED NEWS [JANUARY 16-22]

  2. SEC AMENDS AUDIT THRESHOLD REQUIREMENT

  3. BIR CLARIFIES THE MANDATORY REGISTRATION OF PERMANENTLY BOUND LOOSE-LEAF & COMPUTERIZED BOOKS OF ACCOUNTS THROUGH ORUS & PROVIDES EXTENSION OF REGISTRATION DEADLINES

1. TAX & BUSINESS-RELATED NEWS [JANUARY 16-22]

1. DOLE to employers: Release workers’ final pay, COE on time

2. CFO leads first care retirement community for aging Filipinos abroad

3. More top contractors to develop socialized housing units under 4PH

4. SEC exempts micro enterprises from audited FS requirement

5. Baguio sees P72-M annual revenues from refurbished Maharlika complex

6. Robinsons Hotels recognized as Muslim-friendly by DOT

7. SEC issues new rules to simplify process for corporate amendments

8. Magalong underscores role of finance officers in governance

9. US firm eyes $200-M Apeco hydrogen energy investment

10. Tax reforms to boost investor confidence – FFCCCII

11. Yanson Group reelects board to boost Mindanao transport links

12. Gov't to pay CARS program obligations using DPWH savings—DBM

13. UP Open University's free online courses available until June

14. Sen. Bam Aquino bares P500M aid for nursing students

15. Nestlé Philippines vows to assist families amid infant formula recall

16. Philippines becomes first country to put entire National Budget on blockchain

17. House bill empowers patients to choose medical decision-makers

18. Bill seeks to exempt students and OFWs from travel tax

19. DOF says funding for CARS program resolved

20. Tulfo wants big pay raise for nurses

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.

DOLE to employers: Release workers’ final pay, COE on time [GMA News Online, January 22, 2026]

In a statement, the DOLE cited Labor Advisory No. 06, series of 2020, in stressing the importance of the timely release of the final pay and COE of workers who left their jobs.


CFO leads first care retirement community for aging Filipinos abroad [The Manila Times, January 22, 2026]

THE Commission on Filipinos Overseas (CFO) has been designated as the lead policy agency for the country’s first “Continuing Care Retirement Community” (CCRC), a landmark project aimed at providing long-term care and a sustainable home for aging members of the Philippine diaspora.


More top contractors to develop socialized housing units under 4PH [GMA News Online, January 22, 2026]

The Department of Human Settlements and Urban Development (DHSUD) on Wednesday welcomed the move of more Quadruple A contractors to develop socialized housing projects under the government’s Expanded Pam


SEC exempts micro enterprises from audited FS requirement [GMA News Online, January 21, 2026]

Under Memorandum Circular 4 issued on January 20, the SEC raised the threshold for those exempt from submitting audited financial statements from P600,000 to P3 million previously, applicable to financial statements covering fiscal years ending on or after December 31, 2025.


Baguio sees P72-M annual revenues from refurbished Maharlika complex [Philippine News Agency, January 20, 2026]

This is a significant jump from the previous PHP500,000 yearly rental income before the facility was turned over to the city.


Robinsons Hotels recognized as Muslim-friendly by DOT [ABS-CBN, January 20, 2026]

“At least 5 percent of guest rooms are equipped with Qibla direction, prayer mats, and Quran availability. These establishments also provide facilities for ablution, designated prayer rooms with separate spaces for male and female guests,” Valderrosa-Abubakar said.

 

SEC issues new rules to simplify process for corporate amendments [Philippine Daily Inquirer, January 20, 2026]

The new rules aim to ensure consistency and efficiency in amending articles of incorporation and bylaws through digitalization, standardized forms and clearer transaction classification. The regulator aims to reduce processing times beyond those required by the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.

 

Magalong underscores role of finance officers in governance [The Manila Times, January 20, 2026]

“Every peso properly accounted for strengthens public trust, supports our teachers, equips our classrooms and safeguards the future of our learners,” the mayor said in his message during the Regional Seminar-Workshop of the Association of DepEd Bookkeepers, Jan. 13, at Hotel Supreme Convention Plaza, here.

 

US firm eyes $200-M Apeco hydrogen energy investment [Philippine Daily Inquirer, January 20, 2026]

This deal is expected to address energy woes in Casiguran, which has experienced significant power blackouts in the past, especially during typhoons, due to its proximity to the Pacific Ocean.

 

Tax reforms to boost investor confidence – FFCCCII [The Philippine Star, January 19, 2026]

On Friday, Go said the BIR is looking at a digitized, risk-based and data-driven audit system to strengthen accountability and prevent arbitrary and abusive audits.

 

Yanson Group reelects board to boost Mindanao transport links [The Manila Times, January 19, 2026]

MAJOR Mindanao subsidiaries of the Yanson Group of Bus Companies reelected their leadership teams during annual stockholders’ meetings on Jan. 17 and 18, 2026, as the conglomerate moves to strengthen regional economic development.

 

Gov't to pay CARS program obligations using DPWH savings—DBM [GMA News Online, January 19, 2026]

The CARS program was created to encourage car manufacturing in the Philippines by attracting investments, boosting demand, and strengthening industry rules, with the goal of making the country a regional auto manufacturing hub.

 

UP Open University's free online courses available until June [PEP.PH, January 18, 2026]

The online courses offered by UP Open University, available from January to June 2026, are free of charge and allow students to study and complete the subjects at their own pace and on their own schedule.

 

Sen. Bam Aquino bares P500M aid for nursing students [The Manila Times, January 18, 2026]

Sen. Bam Aquino said about 20,000 nursing and other allied health sciences students would benefit from the P500 million financial aid for Related Learning Experience (RLE) under the 2026 national budget.

 

Nestlé Philippines vows to assist families amid infant formula recall [The Philippine Star, January 18, 2026]

Nestlé Philippines said that it is working with the Food and Drug Administration to address the reported quality concerns regarding several batches of its two infant formula products.

 

Philippines becomes first country to put entire National Budget on blockchain [Technobaboy, January 17, 2026]

The Philippines has made history as the first country to put its entire national budget on blockchain. Starting with the 2026 General Appropriations Act, the government will use the Digital Bayanihan Chain to record and secure all budget transactions.

 

House bill empowers patients to choose medical decision-makers [GMA News Online, January 17, 2026]

HB 7068 mandates the government to recognize a person’s chosen “health care agent”—by submitting a Health Care Proxy—as a legally authorized representative, ensuring that their medical preferences and care are respected during times of incapacity.

 

Bill seeks to exempt students and OFWs from travel tax [The Manila Times, January 16, 2026]

In a statement on Thursday, 1Tahanan Partylist Rep. Nathaniel Oducado said that House Bill 6979 will ensure that the travel tax system will be "more equitable, sensitive to socioeconomic disparities, and aligned with the principles of progressive taxation." Under the bill, single parents, Indigenous peoples and beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps) would also be exempted from paying travel tax.

 

DOF says funding for CARS program resolved [GMA News Online, January 16, 2026]

Under the CARS Program, the government seeks to attract new investments, stimulate demand, and effectively implement industry regulations to boost the Philippine automotive industry and develop the country as a regional automotive manufacturing hub.

 

Tulfo wants big pay raise for nurses [The Manila Times, January 16, 2026]

Filed on December 15, the measure aims to amend Section 32 of Republic Act 9173, or the Philippine Nursing Act of 2002, by upgrading the entry-level salary grade of nurses from Salary Grade (SG) 15 to SG 19.

2. SEC AMENDS AUDIT THRESHOLD REQUIREMENT

SEC Memorandum Circular (MC) No. 4, Series of 2026, issued on January 20, 2026, amended the audit threshold under the Revised Securities Regulation Code (SRC) Rule 68, providing that stock and non-stock corporations with total assets or total liabilities exceeding Php 3,000,000 are required to submit Audited Financial Statements (AFS), while those at or below the threshold are exempt from the audit requirement and may instead submit financial statements accompanied by a Statement of Management’s Responsibility (SMR). The exemption does not apply to entities classified as Group A, B, or C, or to corporations vested with public interest, which remain subject to mandatory audit requirements regardless of size. The MC also revises the definitions of Small and Micro Entities consistent with the new threshold and shall apply to financial statements covering fiscal years ending on or after December 31, 2025. The amendment aligns requirements with current economic conditions of MSMEs, reduces compliance burden for micro enterprises while maintaining accountability, and supports ease of doing business.

 

It may be recalled that under the old rules, AFS is required if total assets/liabilities exceed Php 600,000.

3. BIR CLARIFIES THE MANDATORY REGISTRATION OF PERMANENTLY BOUND LOOSE-LEAF & COMPUTERIZED BOOKS OF ACCOUNTS THROUGH ORUS & PROVIDES EXTENSION OF REGISTRATION DEADLINES

Revenue Memorandum Circular (RMC) No. 004-2026, issued on January 15, 2026, clarifies the mandatory registration of Permanently Bound Loose-Leaf Books of Accounts and Computerized Books of Accounts through the Online Registration and Update System (ORUS), pursuant to RMC No. 3-2023, and provides for the extended deadline for registration.

 

Highlights include:

 

a. Mandatory registration through ORUS within the prescribed deadlines unless the BIR extends or upon the request of the taxpayer before the lapse of the original period.

 

b. After registration, a QR Code is generated which shall be affixed on the first page for loose-leaf books. For computerized books, the QR code shall be printed and keep for records

 

c. Manual registration with the RDO or the taxpayer’s Head Office/Branch is allowed in exceptional cases such that ORUS is unavailable due to system downtime or technical errors, subject to the official advisory on ORUS downtime with the screenshot of error message presented.

 

d. Loose-leaf invoices, receipts, and other accounting records remain under manual registration at the RDO since these are not yet available for online registration.

 

e. Due to intermittent ORUS connectivity issues, registration deadlines are extended to January 31, 2026 (from the original deadline of January 15, 2026) for Permanently Bound Loose-Leaf Books, and to February 17, 2026 (from January 30, 2026) for Computerized Books.


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