Aureada CPA Law Firm

30/04/2026

What really counts as a “false return” in Philippine tax law?

In a landmark decision, the Supreme Court abandoned the long-standing doctrine in Aznar v. Court of Tax Appeals (G.R. No. L-20569, August 23, 1974), which previously treated even unintentional errors as “false returns”. The Court ruled that a “false return” under Section 222(a) of the Tax Code requires a deliberate or willful misstatement, not just simple mistakes.

This ruling in McDonald’s Philippines Realty Corporation v. CIR (G.R. No. 247737, August 8, 2023) now protects taxpayers from extended assessments based on honest mistakes and reinforces due process in tax audits.

Read the full blog here:
👉 https://www.aureadalaw.com/post/supreme-court-clarifies-what-counts-as-a-false-return-in-tax-cases-a-simpler-look-at-mcdonald-s-p

Stay informed. Know your rights. Protect your business.

Why This Case MattersThe Supreme Court’s ruling in McDonald’s Philippines Realty Corporation v. Commissioner of Internal Revenue is an important development in Philippine tax law. It answers a practical question that affects many businesses and taxpayers: When does a mistake in a tax return beco...

30/04/2026

One wrong detail in your AFS can lead to rejected filings or penalties. Make sure your financial statements are complete, accurate, and properly signed before submission. Compliance starts with attention to detail.

Read the full guide here: https://www.aureadalaw.com/post/audited-financial-statements-philippines-common-mistakes-companies-make

30/04/2026

Holiday Advisory

In celebration of Labor Day, please be advised that both the Makati Office and Lucena Office will be closed on Friday, 01 May 2026.

Regular office operations will resume on Monday, 04 May 2026.

Thank you and have a meaningful Labor Day! 🇵🇭

29/04/2026

Keeping up with SEC filing requirements is key to maintaining your company’s good standing. Stay ahead by understanding your obligations and filing correctly and on time.

Read the full guide here: https://www.aureadalaw.com/post/complete-sec-filing-requirements-philippines-updated-2026-guide

28/04/2026

The Bureau of Internal Revenue (BIR) has issued RMC No. 033-2026, providing clarification on the filing and payment of estate tax under the Estate Tax Amnesty.

The circular addresses key points such as the submission of proof of settlement, treatment of undeclared properties, and rules on installment payments.

Understanding these updates is important for ensuring proper compliance and avoiding potential issues in estate settlement.

Handling estate matters after losing a loved one is already difficult. Adding tax compliance into the situation can make it even more stressful and confusing. To address common issues and clarify procedures, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 033-2026,....

28/04/2026

New business?

Make sure SEC compliance is part of your foundation. Stay organized, meet reportorial deadlines, and protect your business from unnecessary risks.

Read the full guide here: https://www.aureadalaw.com/post/how-startups-can-avoid-sec-compliance-problems-early

28/04/2026

The BIR officially implements the Digital TIN ID via the eGovPH App, reinforcing secure, accessible, and government-recognized digital identification for all taxpayers.

The Bureau of Internal Revenue (BIR) officially announces the availability of the Digital Taxpayer Identification Number (TIN) ID via the eGovPH Mobile App, starting April 24, 2026.

This initiative simplifies access to government-issued identification, enabling taxpayers to securely view, present, and verify their TIN digitally—anytime, anywhere. The Digital TIN ID, whether generated through ORUS or accessed via the eGovPH App, is recognized as a valid government-issued ID, subject to proper authentication.

A step forward in digital transformation—making public services more accessible, efficient, and convenient for every Filipino 🇵🇭

28/04/2026

BIR Clarifies Estate Tax Amnesty Compliance (RMC No. 033-2026)

The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular No. 033-2026, providing key clarifications on the filing and payment of estate taxes under the Estate Tax Amnesty.

Key Takeaways:
- No deadline for submitting proof of estate settlement (e.g., EJS, court orders), but it is required for eCAR processing
- For undeclared properties, estate tax is computed based on the laws and rates at the time of death
- Installment payment is allowed (up to 2 years), subject to approval and compliance with conditions
- Failure to pay installments results in loss of amnesty benefits and exposure to regular estate tax, penalties, and interest
- Any deficiency will be subject to surcharges, interest, and compromise penalties

Taxpayers and heirs are advised to ensure full compliance to avoid forfeiture of amnesty privileges and additional liabilities.

27/04/2026

Late filings don’t have to turn into bigger problems.

Understand how to fix SEC and BIR delays, settle penalties, and maintain your company’s good standing.

Read the full guide here: https://www.aureadalaw.com/post/how-to-fix-late-sec-and-bir-filings-step-by-step-guide

24/04/2026

Understanding the difference between BIR and SEC penalties is essential for every corporation in 2026. While the BIR focuses on tax compliance imposing penalties for late filings, incorrect tax payments, and non-registration the SEC ensures corporate compliance, penalizing entities for late AFS and GIS submissions, reportorial violations, and non-compliance with corporate governance rules.

Failing to comply with either can result in fines, surcharges, interest, and even revocation of corporate registration. Corporations must stay updated, organized, and proactive in meeting both tax and regulatory obligations to avoid costly consequences.

Read the full guide here: https://www.aureadalaw.com/post/bir-vs-sec-penalties-what-corporations-need-to-know-2026

23/04/2026

Board members help ensure SEC compliance by upholding good governance, timely disclosures, and proper corporate oversight. Strong compliance protects the corporation, its stakeholders, and public trust.

Read the full guide here:https://www.aureadalaw.com/post/board-responsibilities-in-ensuring-sec-compliance-in-the-philippines