Tax Updates

PERPETUAL TAX EXEMPTION OF ELECTRIC COOPERATIVES + MOST RECENT UPDATE ON CITIRA & GROSS TAXATION SCHEME

CITIRA SAGA + SEC RAISES RED FAG ON REVIVAL OF KAPA + HOUSE APPROVED ON 3RD & FINAL READING CITIRA BILL + CABINET TEAM TO STUDY PROPOSED SHIFT TO GROSS TAXATION

HOUSE OKS ON 2ND READING BILL LOWERING CORPORATE TAX & FIXING INCENTIVES + HOUSE APPROVES ENTRY OF FOREIGN PROFESSIONALS + DUTERTE WANTS TO REMOVE CUSTOMS BROKERS & CHANGE TAX DUES COMPUTATION

UPDATES ON THE TAX REFORM PROPOSAL PACKAGE 2

BIR FILES TAX EVASION RAPS VS. WIFE OF KAPA FOUNDER + UPDATES ON THE REMAINING TAX REFORM PROPOSALS + WHAT IS NEW UNDER CITIRA BILL

BIR NEW POLICIES & GUIDELINES ON SERVICE OF ASSESSMENT NOTICE + PEZA BACKS PROPOSAL TO USE GROSS INCOME EARNINGS AS TAX BASE + PROPERTY STOCKS TAKE HIT AS POGO ISSUES HEAT UP

SUPREME COURT RULES ON THE TAX EXEMPTION ON MEMBERSHIP FEES & ASSESSMENT DUES OF NON-STOCK NON-PROFIT RECREATIONAL CLUBS + SSS READY TO ACCEPT UNEMPLOYMENT BENEFIT CLAIMS + PEZA CONTRIBUTION TO ECONOMY BLOATED

Relevant Laws and Other
Regulatory Updates

TSG 2018-034 (BSP) Circular No. 1004: Reduction in Reserve Requirements

On May 24, 2018, the Bangko Sentral ng Pilipinas (BSP) released Circular 1004 which announced the 100 basis-points Reduction in Reserve Requirements

TSG 2018-032 (BSP) Circular No. 1002

On April 20, 2018, the Securities and Exchange Commission (SEC) released Memorandum Circular No.
7 Series

TSG 2018-029 (SEC) An Update to All Publicly-Listed Companies

On April 20, 2018, the Securities and Exchange Commission (SEC), released Memorandum Circular No.
8 Series of 2018