Bureau of Internal Revenue Issuances
REVENUE MEMORANDUM CIRCULAR
RMC No. 46-2026
May 18, 2026
Prescribes the Procedures and Deadline on the Submission of 2025 Audited Financial Statements and Other Attachments Through the Electronic Audited Financial Statements Systems / Submission Facility.
RMC No. 47-2026
May 19, 2026
Prescribing Simplified and Streamlined Guidelines and Procedures in the Closure and/or Cancellation of Business Registration with the Bureau of Internal Revenue.
RMC No. 48-2026
May 21, 2026
Lost Two (2) Pads of Used/Filled-Up but Unissued BIR Form No. 2302 – Tax Subsidy Availment Certificate.
RMC No. 49-2026
May 21, 2026
Circularizing Republic Act No. 12231, entitled “An Act Optimizing the National Government for Efficient Public Service Delivery”.
RMC No. 50-2026
May 21, 2026
Publishing the Full Text of Civil Service Commission Resolution Number 2501089 dated October 08, 2025 re: Guidelines on the Conduct of Mid-Term and Full Term Review of Awardees of the Program to Institutionalize Meritocracy and Excellence in Human Resource Management (PRIME-HRM).
RMC No. 51-2026
May 21, 2026
Publishing the Full Text of Civil Service Commission Resolution Number 2600005 dated January 06, 2026 re: Guidelines on the Development of Agency Competency-Based Human Resource Management System.
RMC No. 52-2026
May 21, 2026
Circularizing Republic Act No. 12021, Entitled “An Act Providing for the Magna Carta of Filipino Seafarers”.
REVENUE DELEGATION AUTHORITY ORDER
RDAO No. 25-2026
May 18, 2026
Authorizes the Chief of Assessment Division of Revenue Region (RR) No. 6 – City of Manila and Palawan to sign documents specified in the Order in view of the official travel of RR No. 6’s OIC-Assistant Regional Director.
Other Government Regulatory news
NOTICE
April 14, 2026
The Securities and Exchange Commission (SEC), through a Notice dated April 14, 2026, has officially extended the deadlines for the submission of AFS and other required reports. This extension aligns with the Bureau of Internal Revenue’s (BIR) issuance of Revenue Memorandum Circular No. 30-2026, which moved the deadline for filing the 2025 Annual Income Tax Returns (AITR) to May 15, 2026.
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COOPERATIVE DEVELOPMENT AUTHORITY
MEMORANDUM CIRCULAR NO. 2026 –07
April 23, 2026
The Cooperative Development Authority (CDA), pursuant to Executive Order No. 110, s. 2026 declaring a State of National Emergency, has approved the extension of the deadline for the submission of required reports for Calendar Year 2026 covering Fiscal Year 2025 operations until May 31, 2026, without penalty. The CDA also clarified that Certificates of Compliance (COC) expiring on April 30, 2026 shall remain valid until the extended deadline. The memorandum circular takes effect immediately upon publication in the Official Gazette or a newspaper of general circulation.
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https://cda.gov.ph/wp-content/uploads/2026/04/MC-2026-07-ONAR.pdf
PHILIPPINE ECONOMIC ZONE AUTHORITY
MEMORANDUM CIRCULAR NO. 2026- 027
April 20, 2026
The Fiscal Incentives Review Board (FIRB) has issued Advisory No. 007-2026 extending the deadlines for submitting the Annual Tax Incentives Report (ATIR) and Annual Benefits Report (ABR) for Taxable Year 2025. For registered business enterprises (RBEs) using a calendar-year accounting period, the deadline for filing both ATIR and ABR is moved from May 15, 2026 to June 15, 2026. RBEs following a fiscal-year accounting period are likewise given until June 15, 2026 to submit the Employment and Compensation Data under the ABR. The extension aligns with the adjusted income tax return filing deadline following the declaration of a national energy emergency.
Click the link below to read the full news from the source:
https://www.peza.gov.ph/sites/default/files/memorandum_circular_no._2026-027.pdf
Tax And Business Related News
BIR WEEKENDER BRIEFS
Volume No. 17, Issue No. 20 Week Ending May 22, 2026
On May 13, Legal Division Atty. Juffali Abdullah of RR 7B-East NCR, under the leadership of Regional Director Wrenolph Panganiban and Asst. RD Linda Grace Sagun, with Group Supervisor Verjun Solomon Catapia and Revenue Officer Gino Delos Santos of RD 46-South Rizal, led by RDO Marco Yara and Asst. RDO Mark Anthony Panganiban, filed a RATE case at the Office of the Prosecutor of Rizal against taxpayers for violation of Sections 254 and 255 of the National Internal Revenue Code of 1997.
Click the link below to read the full news from the source:
https://bir-cdn.bir.gov.ph/BIR/pdf/v17n20.pdf
BIR moves AFS submission deadline to May 25 for ‘administrative relief
Inquirer. Net / Nyah Genelle C. De Leon / May 19, 2026 – Manila
The Bureau of Internal Revenue (BIR) has extended the deadline for the online submission of 2025 audited financial statements (AFS) and other mandatory attachments to May 25 to provide “administrative relief” to taxpayers.
Click the link below to read the full news from the source:
https://business.inquirer.net/591230/bir-extends-afs-submission-deadline-to-may-25
BSP give rural banks break on new credit reporting rules
Manila Bulletin / Derco Rosal / May 19, 2026
The Bangko Sentral ng Pilipinas (BSP) will grant a reprieve from penalties to rural and cooperative lenders adjusting to the more rigorous credit and equity reporting system, part of an ongoing effort to sharpen oversight of the financial sector’s risk exposures.
Click the link below to read the full news from the source:
https://mb.com.ph/2026/05/19/bsp-give-rural-banks-break-on-new-credit-reporting-rules
BIR simplifies ‘deregistration’ process for closing businesses
Philippine News Agency / Anna Leah Gonzales / May 20, 2026 – Manila
The Bureau of Internal Revenue (BIR) issued a circular simplifying the process for closing businesses and cancelling tax registration as part of the implementation of the Ease of Paying Taxes Act. Under Revenue Memorandum Circular No. 47-2026 issued on May 19, businesses that stopped operations may apply for the closure or cancellation of their registration, either manually or electronically, through the Revenue District Office where their head office or branch is registered.
Click the link below to read the full news from the source:
https://www.pna.gov.ph/articles/1275397
Small banks given more time to comply with new reporting rules
The Philippine Star / Keisha Ta- Asan – May 20, 2026 – Manila
The Bangko Sentral ng Pilipinas (BSP) is giving small banks more time to adjust to its upgraded credit and equity exposure reporting system before imposing penalties for reporting lapses.
Click the link below to read the full news from the source:
https://www.philstar.com/business/2026/05/20/2529113/small-banks-given-more-time-comply-new-reporting-rules
BSP urges businesses to adopt PERA program for employees
Philippine News Agency / May 21, 2026 – Manila
The Bangko Sentral ng Pilipinas (BSP) has encouraged businesses to promote Personal Equity and Retirement Account (PERA) program, highlighting its tax incentives for both employers and employees.
Click the link below to read the full news from the source:
https://www.pna.gov.ph/articles/1275611
Exemption from Excise Tax of Petroleum Products and Refund Mechanism
The Manila Times / Aziza Hannah Bacay / May 21, 2026
AS a general rule, petroleum products are subject to excise tax, the rates of which vary depending on the kind of product and volume involved. Recent international conflicts, however, brought about an energy crisis and price hikes, which triggered the enactment of Republic Act (RA) 12316 (signed March 25, 2026), authorizing the President of the Philippines to suspend excise taxes on petroleum products.
Click the link below to read the full news from the source:
https://www.manilatimes.net/2026/05/21/business/exemption-from-excise-tax-of-petroleum-products-and-refund-mechanism/2348464
BSP eyes stricter climate reporting for banks
The Philippine Star / Keisha Ta- Asan / May 22, 2026 – Manila
The Bangko Sentral ng Pilipinas (BSP) is proposing to require the country’s largest and publicly listed banks to adopt stricter sustainability and climate-related disclosure standards starting 2027, as regulators seek more consistent and comparable reporting of environmental risks.
Click the link below to read the full news from the source:
https://www.philstar.com/business/2026/05/22/2529564/bsp-eyes-stricter-climate-reporting-banks
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