QUALITY ASSURANE ULLETIN I FERUARY 2020 Edition...
Transcript of QUALITY ASSURANE ULLETIN I FERUARY 2020 Edition...
QUALITY ASSURANCE BULLETIN I FEBRUARY 2020 Edition 1
QUALITY ASSURANCE BULLETIN I FEBRUARY 2020 Edition 2
RECENT BUREAU OF INTERNAL REVENUE ISSUANCES
REVENUE MEMORANDUM ORDER NO. 6-2020: Modifies the Alphanumeric Tax Code for
Value-Added Tax pursuant to Revenue Regulations No. 10-2004 (re-imposing the Gross-Receipts
Tax on other non-bank financial intermediaries beginning January 1, 2004 which include
pawnshops) .
REVENUE MEMORANDUM ORDER NO. 7-2020: Prescribes the policies and guidelines in the
audit/investigation of cooperatives.
REVENUE MEMORANDUM CIRCULAR NO. 10-2020: Suspends the requirement for Permit to
Use (PTU) Computerized Accounting System (CAS), Computerized Books of Accounts (CBA) and/or
Component(s) thereof and allowing their use subject to compliance requirement.
REVENUE MEMORANDUM CIRCULAR NO. 11-2020: Further clarifies certain issues on Tax
Amnesty on Delinquencies thereby amending and supplementing Revenue Memorandum Circular
No. 57-2019.
REVENUE MEMORANDUM CIRCULAR NO. 12-2020: Circularizes the availability of the revised
BIR Form No. 2552 [Percentage Tax Return (For Transactions Involving Shares of Stocks Listed and
Traded Through the Local Stock Exchange (LSE) or Through Initial and/or Secondary Public
Offering)] January 2018 (ENCS)].
REVENUE MEMORANDUM CIRCULAR NO. 13-2020: Circularizes the availability of BIR Form
Nos. 1600-VT and 1600-PT January 2018 Version.
REVENUE MEMORANDUM CIRCULAR NO. 14-2020: Clarifies the taxability of the Bangko
Sentral ng Pilipinas pursuant to Republic Act No. 11211 amending Section 125 of Republic Act No.
7653 (The New Central Bank Act) and other existing laws and revenue issuances.
REVENUE MEMORANDUM CIRCULAR NO. 15-2020: Prescribes the manner on how
concerned taxpayers shall be informed of the procedures in responding to the issuance of Deficiency
Tax Assessments.
REVENUE MEMORANDUM CIRCULAR NO. 16-2020: Circularizes the availability of offline
Electronic Bureau of Internal Revenue Forms (eBIRForms) Package Version 7.6.
QUALITY ASSURANCE BULLETIN I FEBRUARY 2020 Edition 3
SEC MEMORANDUM CIRCULAR NO. 3-2020: Notice of Regular Meetings of Stockholder/
Members.
Deadline for the submission of the Mandatory Disclosure Forms.
RECENT SECURITIES AND EXCHANGED COMMISSION ISSUANCE
REVENUE MEMORANDUM CIRCULAR NO. 17-2020: Further extends the deadline for filing/
submission of Annual Information Return of Income Taxes Withheld on Compensation and Final
Withholding Taxes (BIR Form No. 1604-CF) and extends the deadline for submission of Certificate
of Compensation Payment (BIR Form No. 2316) and Annual Information Return of Creditable
Income Taxes Withheld (Expanded) (BIR Form No. 1604-E).
REVENUE MEMORANDUM CIRCULAR NO. 18-2020: Prescribes the use of old BIR Form Nos.
1604-CF and 1604-E for online filing of Annual Information Returns for Compensation, Final
Withholding Taxes and Creditable Income Taxes Withheld (Expanded)/Income Payments Exempt
from Withholding Tax.
QUALITY ASSURANCE BULLETIN I FEBRUARY 2020 Edition 4
REVENUE MEMORANDUM ORDER NO. 6-2020
Modifies the Alphanumeric Tax Code for Value-Added
Tax pursuant to Revenue Regulations No. 10-2004
(re-imposing the Gross-Receipts Tax on other non-bank
financial intermediaries beginning January 1, 2004
which include pawnshops).
The said modification is as follows:
REVENUE MEMORANDUM ORDER NO. 7-2020
Prescribes the policies and guidelines in the audit/
investigation of cooperatives.
Cooperatives which transact business with
both members and non-members whose
accumulated reserves and undivided net savings
is more than Ten Million Pesos (₱ 10,000,000.00),
including other cooperatives with income not
related to the main/ principal business/es under
their Articles of Incorporation, shall be prioritized
for audit/investigation by the Revenue District
Offices having jurisdiction over the said
cooperatives.
The policy on the maximum workload of
thirty (30) cases per Revenue Officer shall not be
applicable to the audit of cooperatives.
The Electronic Letter of Authority
Monitoring System (eLAMS) shall be used in the
request, approval and issuance of electronic
Letters of Authority (eLAs), as well as in reporting
the accomplishments on eLAs issued.
To ensure the close monitoring of
cooperatives audited, the following reports shall
be prepared and submitted by the Revenue District
Officers to the Assistant Commissioner -
Assessment Service, Attention: The Chief, Audit
Information Tax Exemption & Incentives Division
through email address [email protected], not later
than the 10th day of each month:
Annex A
Annex B
REVENUE MEMORANDUM CIRCULAR NO.
10-2020
Suspends the requirement for Permit to Use (PTU)
Computerized Accounting System (CAS), Computerized
Books of Accounts (CBA) and/or Component(s)
thereof and allowing their use subject to compliance
requirement.
All taxpayers with pending applications for
PTU CAS, CBA, and/or Components thereof
which were filed with the National Accreditation
Board (NAB) and were assigned to the Technical
Working Group (TWG) for evaluation as of the
effectivity of the Circular, shall be allowed to use
such CAS, CBA, and/or Components thereof, in
the absence of the required PTU, provided that
the following shall be submitted by the taxpayer to
the TWG Secretariat of the Revenue District
Office (RDO)/Large Taxpayers (LT) Office where
they are registered under Revenue Memorandum
Circular (RMC) No. 49-2019:
a. A duly accomplished and notarized
Sworn Statement with attached
Summary of System Description, Com-
mercial Invoice/Receipts Document
Description, Forms/Records and
Reports Specification executed and
signed by the taxpayer/company’s
authorized representative/s, including
the Special Power of Attorney, Board
Resolution or Secretary’s Certificate
stating such authority;
QUALITY ASSURANCE BULLETIN I FEBRUARY 2020 Edition 5
b. Sample print copy of system-generated
Principal and Supplementary Receipts/
Invoices as defined under Section 2 of
Revenue Regulations (RR) No
18- 2012 showing compliance with RR
No. 16-2018, if applicable; and
c. Sample print copy of system-generated
Books of Accounts such as but not
limited to General Journal, General
Ledger, Sales Journal, Purchase
Journal, Inventory Book, Cash Receipts
Book and Cash Disbursements Book
reflecting the mandatory fields stated in
RR No. 9-2009, if applicable.
In the absence of the required PTU, an
“Acknowledgement Certificate” following the
prescribed format shall be prepared and issued by
the TWG Secretariat of the RDO/LT Office where
the taxpayer is registered. The said Certificate
must be issued within three (3) working days from
receipt of the abovementioned requirements with a
Control Number which shall be indicated or
reflected on the face of the principal and/or
supplementary receipts/invoices to be generated
from the systems in order to authorize the use of
such receipts/invoices.
In case the taxpayer opted to maintain
Loose-leaf Books of Accounts, the application of
such shall be continuously processed by the RDO
having jurisdiction over such taxpayer pursuant to
RMC No. 68-2017.
All CAS, CBA, and/or Components thereof
used sans the required PTU shall be subject to
post-evaluation to check compliance with existing
revenue issuances. Such evaluation may be done
simultaneous with the audit of the Books of
Accounts and other accounting records of the
taxpayer pursuant to a Letter of Authority. A
separate revenue issuance shall be issued relative
to the post-evaluation in coordination with the
Assessment Service of the BIR.
All pending applications for PTU CAS/
CBA, and/or Components thereof that have
undergone system demonstration are covered
under this Circular. Hence, the dockets including
the findings, shall be turned over by the NAB to
the respective TWG of the RDO/LT Office having
jurisdiction over the taxpayer’s place of business,
for validation during post-evaluation.
In case of any system enhancement/
modification and/or upgrade of CAS/CBA and/or
Components thereof and if such will result in the
change of version number and/or systems
release, the taxpayer shall inform in writing the
TWG Secretariat of the RDO/LT Office where they
are registered. A matrix showing the comparative
changes of the current and upgraded system shall
be submitted, together with the letter
notification.
REVENUE MEMORANDUM CIRCULAR NO.
11-2020
Further clarifies certain issues on Tax Amnesty on
Delinquencies thereby amending and supplementing
Revenue Memorandum Circular No. 57-2019.
The tax liabilities covered by the Final
Assessment Notice (FAN)/Formal Letter of
Demand (FLD) or Final Decision on Disputed
Assessment (FDDA), which was timely protested
or disputed, but such protest to the FAN/FLD or
appeal to the FDDA, as the case may be, was
withdrawn at any time on or before April 23, 2020
are considered delinquent account qualified for
Tax Amnesty, provided that the delinquent
account pertains to taxable year 2017 and prior
years.
The effect of the withdrawal of the protest
or appeal to the FAN/FLD or FDDA, respectively,
is that as if no protest or appeal was filed, and
therefore, the assessment contained therein
becomes final and executory thereby delinquent,
upon the lapse of the thirty (30)-day period,
reckoned from receipt of such FAN/FLD or FDDA,
within which to file a protest or appeal, as the
case may be.
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QUALITY ASSURANCE BULLETIN I FEBRUARY 2020 Edition 6
In such case, the FAN/FLD or FDDA,
whose protest or appeal was subsequently
withdrawn, should have been received at the
latest, on March 25, 2019, to be considered
delinquent on or before April 24, 2019.
The tax liabilities covered by the Final
Assessment Notice (FAN)/Formal Letter of
Demand (FLD) or Final Decision on Disputed
Assessment (FDDA), which was timely protested
or disputed, but such protest to the FAN/FLD or
appeal to the FDDA, as the case may be, was
withdrawn at any time on or before April 23, 2020
are considered delinquent account qualified for
Tax Amnesty, provided that the delinquent account
pertains to taxable year 2017 and prior years. The
effect of the withdrawal of the protest or appeal to
the FAN/FLD or FDDA, respectively, is that as if no
protest or appeal was filed, and therefore, the
assessment contained therein becomes final and
executory thereby delinquent, upon the lapse of
the thirty (30)-day period, reckoned from receipt of
such FAN/FLD or FDDA, within which to file a
protest or appeal, as the case may be. In such
case, the FAN/FLD or FDDA, whose protest or
appeal was subsequently withdrawn, should have
been received at the latest, on March 25, 2019, to
be considered delinquent on or before April 24,
2019.
The following are the instances wherein
the protest to the FAN/FLD or appeal to the
FDDA are considered invalid, making the
assessment final and executory and therefore,
delinquent:
a. The protest to FAN/FLD was filed
beyond 30 days from receipt of the
FAN/FLD;
b. The appeal to FDDA was filed be-
yond 30 days from receipt of the
FDDA;
c. The protest to FAN/FLD was not
filed with the duly authorized repre-
sentative of the Commissioner of
Internal Revenue (CIR) who signed
the FAN/FLD;
d. The appeal to the FDDA was not
filed with the Office of CIR;
e. The protest/appeal failed to state
the applicable law, rules and
regulations or jurisprudence on
which it is based;
f. The request for reinvestigation did
not specify the newly discovered or
add evidence which the taxpayer
intends to present as required in a
valid protest.
An invalid protest or appeal does not
toll the running of the 30-day
prescriptive period to file such protest
or appeal. Accordingly, the assessment
becomes final and executory after the
lapse of such 30-day prescriptive
period, reckoned from receipt of the
FAN/FLD or FDDA.
REVENUE MEMORANDUM CIRCULAR NO.
12-2020
Circularizes the availability of the revised BIR Form No.
2552 [Percentage Tax Return (For Transactions
Involving Shares of Stocks Listed and Traded Through
the Local Stock Exchange (LSE) or Through Initial and/
or Secondary Public Offering)] January 2018 (ENCS).
The revised manual return is available
under BIR Forms-VAT/Percentage Tax Returns
Section of the BIR website (www.bir.gov.ph).
However, it is not yet available in the Electronic
Filing and Payment System (eFPS) and Electronic
Bureau of Internal Revenue Forms (eBIRForms).
Thus, eFPS/eBIRForms filers shall continue to
use the existing BIR Form No. 2552 in the eFPs
and in the Offline eBIRForms Package v7.5 in
filing the return. Once the form is available in
eFPS or is already included in the new Offline
BIRForms Package, a revenue issuance shall be
released to announce the availability of the
revised return.
Continuation.. Continuation..
QUALITY ASSURANCE BULLETIN I FEBRUARY 2020 Edition 7
Manual filers shall download and print the PDF
version of the form and completely fill out all
applicable fields. Otherwise, said filers shall be
subjected to penalties under Sec. 250 of the Tax
Code, as amended. Payment of the tax due,
thereon, if any, for manual and eBIRForms filers
shall be made thru:
a) Manual Payment
Authorized Agent Bank (AAB)
located within the territorial
jurisdiction of the Revenue
District Office (RDO) where the
broker or issuer is registered; or
In places where there are no
AABs, the return shall be filed
and the tax due shall be paid
with the concerned Revenue
Collection Officer under the
jurisdiction of the RDO using the
Mobile Revenue Collection
Officer System facility.
b) Online Payment
Thru GCash mobile payment;
LandBank of the Philippines
(LBP) Linkbiz Portal - for
taxpayers who have ATM
account with LBP and/or holders
of Bancnet ATM/Debit Card
Development Bank of the
Philippines Tax Online – for
taxpayers who are holders of
Visa/MasterCard credit card
and/or ATM/Debit Card
Union Bank Online Web and
Mobile Payment Facility – for
taxpayers who have account
with Union Bank.
REVENUE MEMORANDUM CIRCULAR NO.
13-2020
Circularizes the availability of BIR Form Nos. 1600-
VT and 1600-PT January 2018 Version.
The revised manual returns are already
available in the BIR website (www.bir.gov.ph)
under the BIR Forms-Payment/Remittance
Forms Section. However, the returns are not yet
available in the Electronic Filing and Payment
System (eFPS) and Electronic Bureau of
Internal Revenue Forms (eBIRForms). Thus,
eFPS/eBIRForms filers shall continue to use the
existing BIR Form No. 1600 in the eFPS and in
the Offline eBIRForms Package v7.5 in filing
their tax return. Once the forms are available in
the eFPS or are already included in the new
Offline BIR Package, a revenue issuance shall
be released to announce the availability of the
returns.
Manual filers shall download and print the
PDF version of the form and completely fill-out
the applicable fields. Otherwise, said filers shall
be subjected topenalties under Sec. 250 of the
Tax Code, as amended. Payment of the tax due
thereon, if any, for manual and eBIRForms filers
shall be made thru:
a. Manual Payment
Authorized Agent Bank (AAB)
located within the territorial
jurisdiction of the Revenue
District Office (RDO) where
the taxpayer is registered; or
In places where there are no
AABs, the return shall be filed
and the tax due shall be paid
with the concerned Revenue
Collection Officer under the
jurisdiction of the RDO using
the Mobile Revenue Collection
Officer System facility.
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QUALITY ASSURANCE BULLETIN I FEBRUARY 2020 Edition 8
b. Online Payment
Thru GCash Mobile Payment;
Landbank of the Philippines
(LBP) Linkbiz Portal - for
taxpayers who have ATM
account with LBP and/or holders
of Bancnet ATM/Debit Card;
Development Bank of the
Philippines Tax Online - for
taxpayers who are holders of
VISA/Master Credit Card and/or
Bancnet ATM/Debit Card; or
Union Bank Online Web and
Mobile Payment Facility - for
taxpayers who have account
with Union Bank.
REVENUE MEMORANDUM CIRCULAR
NO. 14-2020
Clarifies the taxability of the Bangko Sentral ng Pilipinas
pursuant to Republic Act No. 11211 amending Section
125 of Republic Act No. 7653 (The New Central Bank
Act) and other existing laws and revenue issuances.
Income/revenues of the BSP derived from
the exercise of its governmental function as provid-
ed under Revenue Regulations No. 2-2020 shall
be exempt from all national internal revenue tax-
es while all other income not considered as de-
rived from its governmental functions shall be con-
sidered as proprietary income and shall be sub-
ject to all national internal revenue taxes.
The following income derived from the exercise of
BSP’s proprietary function are subject to Income
Tax and consequently subject to Withholding Tax:
a. Income from sale of Printed Securities
– This includes, but not limited to,
income earned from printing of Security
Documents for Bureau of Immigration,
Certificates of Professional Regulation
Commission, Certificates for Technical
Education and Skills Development
Authority (TESDA), and Judicial Land
Titles;
b. Income from sale of BSP forms, such
as sale of bid forms, location maps,
and vicinity maps of the properties;
c. Sale of Scrap items – This includes
income from sale of old machinery,
cans, boxes, drums, etc., as well as,
penalty imposed for late delivery;
d. Parking fees collected for use of
parking areas by BSP tenants;
e. Income from sale of commemorative
medals;
f. Income from sale of demonetized
commemorative notes and coins;
g. Income from sale of demonetized
notes and coins;
h. Sale of corporate gifts and other
souvenir items, excluding printed
publications;
i. Rental income arising from the rental
of vault space by Presidential
Commission on Good Governance
(PCGG);
j. Rental collected/earned for the use of
BSP owned and acquired properties
and facilities therein;
k. Realized profits from assets sold
other than those provided under
paragraph II(B) of the Circular;
l. Income from sale of shredded
records;
m. Income from sale of car stickers,
security pass and other identification
paraphernalia issued to the BSP
employees and bank representatives;
n. Income from sale thru bidding/auction
of scrap and waste materials;
o. Net gain from sale thru bidding/
auction of unserviceable furniture and
equipment; and
p. Other similar income derived by the
BSP not categorically defined under
the Circular.
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QUALITY ASSURANCE BULLETIN I FEBRUARY 2020 Edition 9
Income that are considered as derived
from the exercise of BSP’s governmental
function and are exempt from Income Tax and
consequently not subject to Withholding Tax
are specified in the Circular.
BSP is exempt from Value-Added Tax
for its revenues and receipts derived from the
exercise of essential governmental functions,
as provided under Revenue Memorandum
Circular No. 65-2008.
Pursuant to Section 199 (L) of the Tax
Code, as amended, all contracts, deeds,
documents and transactions related to the
conduct of business entered into by BSP
which require payment of Documentary Stamp
Tax shall be exempted from the payment
thereof. The exemption granted under RA No.
11211 took effect on March 6, 2019.
REVENUE MEMORANDUM CIRCULAR NO.
15-2020
Prescribes the manner on how concerned taxpayers
shall be informed of the procedures in responding to
the issuance of Deficiency Tax Assessments.
A guideline (Annex A of the Circular) shall
be furnished to the taxpayer during the Discussion
of Discrepancy.
REVENUE MEMORANDUM CIRCULAR NO.
16-2020
Circularizes the availability of offline Electronic
Bureau of Internal Revenue Forms (eBIRForms)
Package Version 7.6.
Which is currently downloadable from
www.bir.gov.ph and www.knowyourtaxes.ph.
The new Offline eBIRForms Package
now includes the January 2018 (ENCS) version
of the following forms:
a. 1700v2018 – Annual Income Tax
Return for Individuals Earning Purely
Compensation Income (Including Non
-Business/Non-Profession Income).
b. 1702MXv2018 – Annual Income Tax
Return for Corporation, Partnership
and Other Non-Individual with MIXED
Income Subject to Multiple Income
Tax Rates or with income subject to
SPECIAL/PREFERENTIAL RATE
Field validation and automated
computation on BIR Form No. 1701 [Annual
Income Tax Return for Individuals (including
MIXED income earner), Estates and Trusts] is
already implemented in the new Offline eBIR-
Forms Package.
Payment of the taxes due thereon, if any,
shall be made thru:
a. Manual Payment
Authorized Agent Bank located within
the territorial jurisdiction of the
Revenue District Office (RDO) where
the taxpayer is registered; or
In places where there are no AABs,
the return shall be filed and the tax
due shall be paid with the concerned
Revenue Collection Officer under the
jurisdiction of the RDO using the
Mobile Revenue Collection Officer
System facility.
Continuation..
QUALITY ASSURANCE BULLETIN I FEBRUARY 2020 Edition 10
b. Online Payment
Thru GCash Mobile Payment;
Landbank of the Philippines (LBP)
Link.biz Portal - for taxpayers who have
ATM account with LBP and/or holders
of Bancnet ATM/Debit Card;
Development Bank of the Philippines
Tax Online - for taxpayers who are
holders of VISA/Master Credit Card
and/or Bancnet ATM/Debit Card;
Union Bank Online Web and Mobile
Payment Facility - for taxpayers who
have account with Union Bank; or
PESONet through LPB Link.biz Portal –
for taxpayers who have account with
RCBC and Robinsons Bank.
REVENUE MEMORANDUM CIRCULAR NO.
17-2020
Further extends the deadline for filing/submission of
Annual Information Return of Income Taxes Withheld
on Compensation and Final Withholding Taxes (BIR
Form No. 1604-CF) and extends the deadline for
submission of Certificate of Compensation Payment
(BIR Form No. 2316) and Annual Information Return of
Creditable Income Taxes Withheld (Expanded) (BIR
Form No. 1604-E).
Extends the deadline for the filing/
submission of the Annual Information Return of
Income Taxes Withheld on Compensation and
Final Withholding Taxes (BIR Form No. 1604-CF),
including the Alphabetical List of Employees/
Payees from Whom Taxes Were Withheld
(alphalist) from February 28, 2020 to March 31,
2020. The BIR also extends the deadline for
submission of the Certificate of Compensation
Payment (BIR Form No. 2316) and the Annual
Information Return of Creditable Income Taxes
Withheld (Expanded) (BIR Form No. 1604-E),
together with its alphalist, to March 31, 2020.
REVENUE MEMORANDUM CIRCULAR NO.
18-2020
Prescribes the use of old BIR Form Nos. 1604-CF and
1604-E for online filing of Annual Information
Returns for Compensation, Final Withholding Taxes
and Creditable Income Taxes Withheld (Expanded)/
Income Payments Exempt from Withholding Tax.
Accordingly, the alphalists of the said
returns shall be submitted thru the existing
Alphalist Data Entry and Validation Module
Version 6.1.
In case of the issuance of an advisory
declaring the availability of the enhanced version
of the Alphalist Data Entry and Validation Module
and there are alphalists that were duly submitted
using the old version of the said data entry
module, there is no need to prepare and
re-submit the said alphalists using the enhanced
version of the module.
SEC MEMORANDUM CIRCULAR NO. 3-2020
Notice of Regular Meetings of Stockholder/
Members.
To promote good corporate governance
and the protection of minority investors, the
Commission, pursuant to its regulatory power
under Section 179(d) of Republic Act No. 11232
otherwise known as the Revised Corporation
Code of the Philippines (RCCP) and
Administrative Order No. 38, Series of 2013
resolved to issue the following rules:
(1) Written notice of regular meetings
shall be sent to all stockholders/
members of record at least
twenty-one (21) calendar days to the
date of the meeting.
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QUALITY ASSURANCE BULLETIN I FEBRUARY 2020 Edition 11
(2) In case of postponement of stockhold-
ers'/members' regular meetings, written
notice thereof and the reason therefor
shall be sent to all stockholders/
members of record at least two (2)
weeks prior to the date of the meeting
as originally scheduled. The stockhold-
ers/members of record shall be notified
of the new schedule of the regular
meeting in accordance with the
immediately preceding paragraph.
(3) The written notice must contain all
Information and deadlines relevant to
the shareholders'/members participa-
tion in the meeting and exercise of the
right to vote remotely (in absentia or
through a proxy).
If, after due notice and hearing, the
Commission finds that any provision of this
Memorandum Circular has been violated, the
Commission may impose any or all of the
sanctions provided under Section 158 of the
RCCP.
Deadline for the submission of the Mandatory
Disclosure Forms.
NOTICE TO ALL NON-STOCK
CORPORATIONS
The deadline for the submission of the
Mandatory Disclosure Forms for Non-Stock
Corporations/Non Profit Organizations (NPOs) as
required under SEC Memorandum Circular No. 25,
series of 2019 has been moved to 31 March 2020
pursuant to the Commission En Banc Resolution
on 27 February 2020.
Please print the Mandatory Disclosure
Form (MDF), that you filled out and submitted
online and emailed back to you, attach the
Declaration/Verification Page duly signed and
notarized and submit one (1) original copy to the
Enforcement and Investment Protection
Department (EIPD), Secretariat Bldg., PICC
Complex, Roxas Blvd., Pasay City or to the
nearest SEC Extension Office on or before said
date. Only the printed copy of the accomplished
MDF form filled out and submitted online with the
Declaration/Verification page will be accepted.
Failure to submit the said MDF is a ground for
the revocation of one's Certificate of
Registration.
For guidance in complying with the
requirement to submit the new MDF, you may
click the following link: http://www.sec.gov.ph/wp
-content/uploads/2020/02/2020AMLD_FAQs.pdf
Continuation..
QUALITY ASSURANCE BULLETIN I FEBRUARY 2020 Edition 12
This bulletin is a compilation of relevant issuances, rulings and memoranda from various government agencies to
enhance the technical skills of the professional staff of Paguio, Dumayas and Associates, CPAs and is not intended to
replace the original issuances of the related government agencies.
FLOYD C. PAGUIO
Managing Partner
AILEEN P. MELCHOR
Tax Supervisor
KEN JOHN B. ASADON
Tax Manager
Unit 3207 Cityland Pasong Tamo Condominium, Pasong Tamo St., Barangay Pio del Pilar, Makati City
Contact us at: 950-9853/950-9854
We are a team of Certified Public Accountants, who aim to be the
accounting firm of choice for business entities in terms of:
Audit and Assurance
Taxation
Business Process Outsourcing
Management Consultancy
GERRY B. MAHAWAN
Tax Specialist
ANGELINA S. ABILON
Tax Specialist