YRA Business Solutions Corp.

When a bank, investor, or regulator asks for AML and KYC documents, your corporation should be ready.

This means having updated corporate records, accurate beneficial ownership information, clear source-of-funds documentation, and procedures for identifying suspicious transactions.

Being prepared can help avoid delays, account issues, and regulatory concerns.

Read the full guide here:https://www.aureadalaw.com/post/anti-money-laundering-compliance-for-corporations-in-the-philippines

Not all dismissals follow the same procedure.

If termination is based on employee misconduct, such as serious misconduct, fraud, gross neglect, or willful disobedience, the employer must generally follow the twin-notice rule.

If termination is based on business reasons, such as redundancy, retrenchment, closure, or labor-saving devices, the employer must generally give advance written notice to both the employee and DOLE.

Knowing the difference helps employers avoid costly mistakes.

Read the full guide here:https://www.aureadalaw.com/post/due-process-requirements-in-employee-dismissal-a-step-by-step-employer-guide

BIR Files Criminal Tax Cases Over ₱1.46 Billion in Alleged Deficiencies: What Taxpayers and Businesses Should Know Executive SummaryThe Bureau of Internal Revenue has filed five criminal tax cases before the Department of Justice involving an aggregate estimated tax deficiency of more than ₱1.46 billion.The largest case involves Alice Leal Guo, who is facing a criminal complaint for alleged tax evasion and fai...

Maligayang Araw ng Kalayaan!

In observance of Philippine Independence Day, please be advised that our Lucena and Makati offices will be closed on June 12, 2026.

Regular office operations will resume on Monday, June 15, 2026.

May this day remind us of the courage, unity, and freedom that continue to inspire every Filipino.

BIR Tax Deadline Extension for Earthquake-Affected Taxpayers

The Bureau of Internal Revenue has issued Revenue Memorandum Circular No. 062-2026, extending certain tax filing, payment, remittance, registration, and submission deadlines to June 30, 2026.

This extension applies to taxpayers affected by the recent earthquake in Revenue Region No. 18 – South Central Mindanao, particularly those under RDO No. 110 – General Santos City and Sarangani and RDO No. 111 – South Cotabato.

Taxpayers covered by the Circular may avoid penalties, surcharges, and interest, provided they comply within the extended deadline.

Digital Senior Citizen ID Now Recognized for Transactions

The BIR has issued Revenue Memorandum Circular No. 063-2026, giving guidance on the acceptance of the Digital National Senior Citizen ID as valid proof of identity.

This helps senior citizens access their benefits more conveniently and supports the government’s move toward digital public services.

For businesses, the key takeaway is simple: make sure your team knows which IDs are acceptable and apply senior citizen policies consistently.

Before complying with a burdensome local enforcement action, business owners should ask: What does the ordinance actually say?

In the Koronadal City case, the Supreme Court noted that the ordinance did not expressly require all public utility vehicles to use the common terminal or prohibit private terminals.

Because of this, the city had no legal basis to block Yellow Bus from using its own facility or force rerouting to the public terminal.

For businesses, this is an important reminder to review local ordinances carefully before assuming every LGU directive is valid.

Read the full guide here:https://www.aureadalaw.com/post/supreme-court-bars-lgu-from-forcing-bus-company-to-use-common-terminal-property-rights-police-powe

Congratulations on Passing the May 2026 CPA Licensure Examination!

YRA proudly congratulates our former intern's on successfully passing the May 2026 Certified Public Accountant Licensure Examination.

Your hard work, dedication, and perseverance have led you to this well-deserved achievement. From being part of our internship program to becoming a newly licensed accountant, your journey is truly inspiring.

We are proud to have been part of your professional growth and we look forward to seeing you make a meaningful impact in the accounting profession.

Congratulations, CPAs! Your YRA family is proud of you. 💙

A BIR audit starts with authority.

Taxpayers should check whether the LOA was signed by the proper BIR official, whether the assigned revenue officers are named, and whether the audit stays within the taxable period and tax types stated in the LOA.

A simple review at the start can help avoid confusion and protect your position during the audit process.

Read the full guide here:https://www.aureadalaw.com/post/who-has-authority-to-sign-a-valid-loa-legal-requirements-taxpayers-must-know

Not all employee terminations are the same.

A just cause usually involves employee fault, such as serious misconduct, willful disobedience, fraud, or gross neglect of duty. An authorized cause usually involves business or health-related reasons, such as redundancy, retrenchment, closure, or disease.

The correct process depends on the reason for termination. Getting it wrong can expose the company to labor disputes.

Read the full guide here:https://www.aureadalaw.com/post/legally-terminating-an-employee-in-the-philippines