Suringa Law and Accounting Office

Attention public practitioners 📢📢📢

Boost your audit skills! 🚀
Join QAR 201: Audit Methodology – Enhancing Capacity & Elevating Quality on June 15-17, 2026 at Iloilo Grand Hotel. Earn 20 CPD units. ₱8,000 registration fee. Register now via QR code or using this link below!

https://docs.google.com/forms/d/e/1FAIpQLSd7ErrhtOeviajMpxhzcUfAV1H55nhXeDv-OQYK0gPtj4OwyQ/viewform

New rule for closing of business - micro enteprises (those generating less than 3m gross sales) exempted from mandatory tax audit.

There is a caveat: they need to settle outstanding liabilities and fines before releasing of Tax Clearance.

The Bureau of Internal Revenue (BIR) has slashed paperwork and exempted micro-enterprises from mandatory tax audits under new rules aimed at speeding up corporate exits.

Read full story in the comments.

Taxpayers are advised that applicable attachments must be submitted through the Electronic Audited Financial Statement (eAFS) facility ON OR BEFORE MAY 15, 2026 DEADLINE, REGARDLESS OF THE DATE OF THE ELECTRONIC FILING OF THE AITR.

FYI for professionals who will renew their PRC license.

Extending the Acceptance of CPD Undertaking for the Renewal of Professional Identification Card until June 30, 2026

The Professional Regulation Commission (PRC) informs the public that the acceptance of CPD undertaking for the renewal of Professional Identification Card (PIC) is extended until June 30, 2026.

For queries and concerns, please email the CPD Division at [email protected].

For updates on CPD, you may check the PRC website at www.prc.gov.ph and follow PRC official social media accounts at https://www.facebook.com/professionalregulationcommission and https://twitter.com/PRC_main.

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DAVAO CITY BUSINESS TAX COLLECTION HITS P2.2 BILLION

The City Treasurer’s Office (CTO) collected P2,243,099,848.78 in business taxes and other regulatory fees during the recently concluded business permit renewal and application one-stop shop in January 2026.

The amount is 8.14 percent higher than last year’s collection of P2,074,224,684.62.

City Treasurer Atty. Lawrence Bantiding said the increase in collections and the rise in permit applications indicate that businesses in Davao City are thriving.

“With the increase in collection from business taxes, it can be inferred that businesses in Davao City are thriving and are generally doing well. The number of permit applications also shows that more establishments are choosing to conduct business in Davao City,” he said.

via Superbalita Davao

NEW SEC FORM GIS 2026 version for both stock and non stock corporations. Check out SEC website.

📣 𝐀𝐍𝐍𝐎𝐔𝐍𝐂𝐄𝐌𝐄𝐍𝐓

In order to serve you better, the National Labor Relations Commission, Regional Arbitration Branch XI (NLRC RAB XI) is moving to a bigger office space located in 𝟒/𝐅 𝐂𝟓𝟓 𝐑𝐞𝐚𝐥𝐭𝐲 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐁𝐥𝐝𝐠., 𝐌𝐚𝐭𝐢𝐧𝐚 𝐀𝐩𝐥𝐚𝐲𝐚, 𝐃𝐚𝐯𝐚𝐨 𝐂𝐢𝐭𝐲 effective 𝐀𝐩𝐫𝐢𝐥 𝟏, 𝟐𝟎𝟐𝟔.

More details relating to the move will be posted in the days to follow.

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FYI you can now renew your business permit online in Davao City.

𝐀𝐏𝐏𝐋𝐘 𝐅𝐎𝐑 𝐘𝐎𝐔𝐑 𝐏𝐄𝐑𝐌𝐈𝐓𝐒 𝐎𝐍𝐋𝐈𝐍𝐄!

New and Renewal of Business Permits

🌐 Go to: https://appbts.davaocity.gov.ph/

For more inquiries, kindly contact: (082) 241-1000 loc. 377, 378, 379, 381 (Business Bureau) or loc. 386 (City Treasurer's Office).

NEW SEC RULE

📣 𝗦𝗘𝗖 𝗲𝘅𝗲𝗺𝗽𝘁𝘀 𝗺𝗶𝗰𝗿𝗼 𝗲𝗻𝘁𝗲𝗿𝗽𝗿𝗶𝘀𝗲𝘀 𝗳𝗿𝗼𝗺 𝘀𝘂𝗯𝗺𝗶𝘁𝘁𝗶𝗻𝗴 𝗮𝘂𝗱𝗶𝘁𝗲𝗱 𝗙𝗦

Micro enterprises are now exempted from submitting audited financial statements as part of their reportorial requirements, as the Securities and Exchange Commission (SEC) moves to streamline compliance and reduce regulatory burdens for small companies.

The Commission on January 20 issued Memorandum Circular No. 4, Series of 2026, providing the Amendments to the Application and Definition of Terms under Revised Rule 68 of Republic Act No. 8799, or the Securities and Regulation Code (SRC), in Relation to the Adjustment of the Audit Threshold.

The memorandum circular exempts both stock and nonstock corporations with total assets or liabilities not exceeding P3 million from submitting audited financial statements.

Previously, only stock and nonstock corporations with total assets or liabilities less than P600,000 were exempted from mandatory audit.

🔗 Read the full Memorandum Circular here: https://www.sec.gov.ph/mc-2026/sec-mc-no-04-series-of-2026