Philippine Center for Innovation, Professionalism. Advocacy and Governance

17/08/2026

15/08/2026

06/08/2026

29/07/2026

𝗥𝗘𝗔𝗗 the joint statement of the Department of Finance and the Bureau of Internal Revenue (BIR) on the tax relief measures highlighted by President Ferdinand R. Marcos Jr. during his Fifth State of the Nation Address (SONA) on July 27, 2026.

The One-Time Tax Abatement Program for Micro Taxpayers, issued on June 22, 2026 through Revenue Regulations (RR) No. 4-2026, provides qualified micro taxpayers relief from outstanding tax liabilities and penalties. Upon the recommendation of the Food and Drug Administration (FDA), the BIR also expanded the VAT exemption on medicines through Revenue Memorandum Circular (RMC) No. 27-2026 issued on April 8, 2026, making more essential medicines VAT-exempt and helping reduce healthcare costs for Filipinos.

26/07/2026

https://businessmirror.com.ph/2026/07/27/progress-bill-of-tax-reforms-pbbm-legacy/

THE Marcos Jr. administration is crafting a new tax reform package that seeks to recalibrate personal income taxes and provide relief measures to micro enterprises, targeted for passage before President Ferdinand R. Marcos Jr. leaves office in 2028. Finance Secretary Frederick D. Go confirmed to the...

06/07/2026

The Australian government has proposed an unprecedented overhaul of the way large accounting firms operate as the nation reels from the latest scandal tied to a Big Four firm. Read more at the link in our comments.

06/07/2026

𝗧𝗵𝗲 𝟮𝟬𝟮𝟲 𝗦𝗘𝗖 𝗢𝘃𝗲𝗿𝘀𝗶𝗴𝗵𝘁 𝗔𝘀𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗥𝗲𝘃𝗶𝗲𝘄 (𝗦𝗢𝗔𝗥) 𝗣𝘂𝗯𝗹𝗶𝗰 𝗜𝗻𝘀𝗽𝗲𝗰𝘁𝗶𝗼𝗻 𝗥𝗲𝗽𝗼𝗿𝘁 𝗶𝘀 𝗼𝗳𝗳𝗶𝗰𝗶𝗮𝗹𝗹𝘆 𝗼𝘂𝘁!

This latest release provides a comprehensive look into the SEC’s audit inspection findings and observations spanning 2022 to 2025.

The report highlights key inspection findings at both the audit firm and engagement levels. It also discusses recurring findings; the importance of robust root cause analyses and effective remediation; the role of automated audit tools and techniques in enhancing audit quality; and the latest developments in sustainability reporting and assurance.

The report has been published as part of the SEC’s continuing commitment to promoting high-quality audits and strengthening confidence in financial reporting.

Read the full report here: bit.ly/SOAR2026-PIR

06/07/2026

06/07/2026

O

The World Bank reclassified the Philippines as upper middle-income. Does this mean the country has arrived? And that the conditions of millions of Filipinos improved?

Read in the comments.