On February 11, 2026, the Philippine Securities and Exchange Commission (SEC) issued Memorandum Circular No. 8, series of 2026, adopting its new Rules of Procedure. These 2026 Rules, on the quantitative aspect, replace the 2016 framework and reduce the previous 27 rules (108 sections) into 17 rules (86 sections). More significantly, they institutionalize a digital-first …
Key Changes in the 2026 New SEC Rules of Procedure Read More »
In a move aimed at supporting micro, small, and medium enterprises (MSMEs) and aligning regulatory requirements with current economic realities, the Securities and Exchange Commission (SEC) has issued Memorandum Circular No. 4, Series of 2026 dated January 20, 2026. Under the new rules, stock and non-stock corporations exceeding Php3 Million in total assets or liabilities must submit audited financial …
SEC INCREASES AUDIT THRESHOLD FROM PHP600,000.00 TO PHP3,000,000.00 Read More »
The case of Rodriguez v. Pastorfide, et al. (G.R. No. 256648 24 February 2025) arose from a dispute over who may validly sit on the board of a condominium corporation when the unit owner is a corporation and not a natural person. Medical Plaza Makati Condominium Corporation (MPMCC), a non-stock condominium corporation, held its 20th …
Can a Corporation Sit on a Condominium Board? The Supreme Court Finally Answers Read More »
In Commissioner of Internal Revenue v. Stradcom Corporation (G.R. No. 255520, 21 April 2025, Caguioa, J.), the Supreme Court affirmed the Court of Tax Appeals (CTA) and ordered the Commissioner of Internal Revenue to refund or issue a tax credit certificate in favor of Stradcom Corporation in the amount of ₱325,381,412.81, representing illegally collected income tax for …
On 24 November 2025, the Bureau of Internal Revenue (“BIR”) issued Revenue Memorandum Circular (“RMC”) No. 107-2025, ordering the immediate suspension of all ongoing field audits and audit-related operations. The suspension covers the issuance of Letter of Authority (“LOA”), Mission Order (“MO”), examination, and verification of taxpayers’ books of accounts, records, and other related transactions. …
On 18 September 2025, the Bangko Sentral ng Pilipinas (BSP) issued Circular No. 1218-2025 (the “Circular”) amending certain provisions of the Manual of Regulations for Banks (MORB) and Manual of Regulations for Non-Bank Financial Institutions (MORNBFI). Specifically, Circular No. 1218-2025 provides restrictions on large value payouts, or transactions (such as withdrawals) of more than Five Hundred Thousand Pesos (Php500,000.00), and mandates the implementation …
BSP Limits Over-the-Counter Cash Withdrawals Above ₱500,000.00 Read More »
Republic Act No. 11967, or the “Internet Transactions Act of 2023”, was enacted on 05 December 2023 to promote and strengthen e-commerce in the Philippines by building trust between online merchants and consumers. One of its key innovations is the creation of the E-Commerce Bureau, which was tasked to implement the E-Commerce Philippine Trustmark, a …
What is the hype about TRUSTMARK and what it means for your online business? Read More »
In 2025, the Philippine Supreme Court reaffirmed the importance of respecting arbitration agreements while also clarifying the limits of CIAC’s jurisdiction. While the CIAC’s authority is statutory under Executive Order No. 1008, the Court emphasized that it remains confined to disputes arising from construction contracts, broadly construed but not beyond their intended scope. In Fleet Marine …
Corporations have been a staple in growing economies owing to various reasons including limited liability and greater access to capital as compared to other business vehicles. With such a significant role in business and the economy, corporations are vested with the need to maintain accurate and organized internal records. In the Philippines, every corporation is …
On 24 July 2025, to further boost its commitment to ease of doing business in the country, the Securities and Exchange Commission issued a SEC Memorandum Circular No. 09 series of 2025. The SEC MC No. 09 provides guidelines to further streamlining the 45-day registration statement review process under the Markets and Securities Regulation Department …
