SEC MEMORANDUM CIRCULAR NO. 9 – 2026 Filing of Annual Financial Statements and General Information Sheet

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The Commission, hereby issues and prescribes the following guidelines on the filing of AFS and GIS for 2026: Section 1. Deadline of Submission. All corporations, including branch offices, representative offices, regional headquarters and regional operating headquarters of foreign corporations, whose fiscal years end on 31 December, shall file their AFS through the SEC Electronic Filing and Submission Tool (eFAST). The deadline for filing of the AFS shall be on 29 May 2026. All corporations under the jurisdiction of the SEC Extension Offices shall be governed by the same schedule in 2026. Section 2. Corporations with Different Filing Schedule. The filing schedule prescribed in Section 1 hereof shall not apply to the following corporations: Section 3. Late Filings. Late filings or submissions after 29 May 2026 shall be subject to the applicable penalties. Section 4. Requirements in the Submission of AFS. The submission of AFS shall be accompanied by the following

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Revenue Regulations No. 029-2025

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Further amending the “De Minimis” Benefits Provisions of Revenue Regulations (RR) No. 2-98 as Amended, Increasing the Ceiling of Non-Taxable Benefits Pursuant to Sections 4 and 244 in relation to Section 33 of the Tax Code of 1997, these regulations are hereby promulgated to further amend RR No. 2-98, as amended by RR No. 004-2025, with respect to “De Minimis” benefits which are exempt from income tax on compensation as well as from fringe benefit tax. Section 1. Section 2.78.1 of RR No. 2-98, as amended by RR No. 004-2025, is hereby further amend to read as follows: “Section 2.78.1. Withholding of Income Tax on Compensation Income (A) Compensation Income Defined. (3) Facilities and privileges of relatively small value Section 2. REPEALING CLAUSE – All existing rules and regulations and other issuances or parts thereof which are inconsistent with the provisions of these Regulations are hereby amended, modifies or repealed

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Revenue Regulations No. 28-2025

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Implementing the Enhanced Version of the Electronic Documentary Stamp Tax System SECTION 1. SCOPE – Pursuant to the provisions of Sections 244 and 245 of the National Internal Revenue Code (NIRC) of 1997 as amended, these Regulations are hereby promulgated to implement the enhanced version of Electronic Documentary Stamp Tax (eDST) System of the Bureau of Internal Revenue (BIR). SECTION 2. COVERAGE – All taxpayers whether individual or non-individual, falling under the following industries are mandated to use the enhanced version of the eDST system for the affixture of the prescribe documentary stamp on their taxable documents: SECTION 3. REQUIREMENT OF ONLINE ENROLLMENT ON THE USE OF eDST SYSTEM. – All taxpayers mandated to use the enhanced version of the eDST System shall enroll online through the website of the BIR. Considering that the said system has two (2) modules, the Deposit Module and Non-Deposit Module, the taxpayer can no

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Revenue Regulations No. 27-2025 Amends Section 8 of Revenue Regulations No. 25-2003 on the Tax Treatment of Subsequent Sale, Transfer of Exchange of Tax-Exempt Automobile by a Tax-Exempt Person/Entity to a Non-Exempt Person/Entity

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SECTION 1. SCOPE – Pursuant to Sections 244-245 of the National Internal Revenue Code of 1997, as amended, these Regulations are hereby promulgated to amend Section 8 of Revenue Regulations (RR) No. 25-2003 modifying the allowable depreciation rate for vehicle transfers from tax-exempt persons/entities to non-tax-exempt buyers in order to ensure equitable tax computation and alignment with market-based valuation. SECTION 2. AMENDMENT – Section 8 of RR No. 25-2003 is hereby amended to read as follows: ” SEC. 8. TAX TREATMENT ON SUBSEQUENT SALE, TRANSFER OR EXCHANGE OF TAX-EXEMPT AUTOMOBILE BY A TAX-EXEMPT PERSON/ENTITY TO A NON-EXEMPT PERSON/ENTITY. -In case where a tax-exempt person/entity acquired an automobile, whether locally purchased or imported, without payment of the tax by reason of his/their exemption, the purchase thereof by a non-exempt person/entity shall be subjected to the ad valorem tax based on, whichever is higher of, (i) the actual consideration between the tax-exempt

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Revenue Regulations No. 26-2025 Amending the Transitory Provision of Revenue Regulations No. 11-2025 Extending the Compliance Period for Electronic Invoice Issuance by Covered Taxpayers

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SECTION 1. Scope – Pursuant to the provisions of Sections 244 and 245 of the National Internal Revenue Code of 1997, as amended (Tax Code), in relation to Sections 12 and 13 of Republic Act (RA) No. 12066, these Regulations are hereby promulgated to amend the transitory provisions of Revenue Regulations (RR) No. 11-2025 and extend the period by covered taxpayers to comply with the issuance of electronic invoice, in consideration of the operational adjustments required of taxpayers, including system reconfiguration and transition to electronic invoicing. SECTION 2. Amendments of Extension of Compliance Period. – Section 14 – Transitory Provisions of RR No. 11-2025 is hereby amended to read as follows: “SECTION 6. Transitory Provisions – The following taxpayers shall have until December 31, 2026 to comply with the electronic invoicing requirements (issuance of electronic invoices) prescribed in these Regulations: SECTION 3. Subsequent Amendments on the Extension of Period to

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Revenue Regulations No. 25-2025 Suspends the Implementation of the Requirement to Post a Bond under Section 160 of the National Internal Revenue Code of 1997, as Amended, for Importers and Manufacturers of Petroleum Products

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SECTION 1 BACKGROUND Section 160 of the National Internal Revenue Code (NIRC) of 1997, as amended, requires that importers and manufacturers of articles subject to excise tax shall post a bond for years succeeding the initial period of operation, based on the actual excise tax paid during the year immediately preceding the year of operation. The purpose of the bond is to secure the payment of taxes on excisable articles and to satisfy other obligations which may be incurred by the taxpayer. Representatives from the petroleum industry and other stakeholders, however, submit that the requirement of posting importers’ or manufacturers’ bonds is no longer relevant or necessary given that oil companies are required to pay excise taxes due on petroleum products prior to their release from customs custody or withdrawal from a refinery, and that the bond requirement is inconsistent with the government’s policy of promoting ease of doing business

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Revenue Regulations No. 24 – 2025 – Further amending the pertinent provisions of Section 2.57.2.(I) under Revenue Regulations (RR) No. 2-98, as amended by RR No. 11-2018, RR No. 7-2019 and RR No. 31-2020, on the Imposition of Creditable Withholding Tax on Top Withholding Agents

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SECTION 1. SCOPE – Pursuant to the provisions of Sections 244 and 245 of the National Internal Revenue Code (NIRC) of 1997, as amended these Regulations are hereby promulgated to further amend Section 2.57.2(I) of Revenue Regulations No. 2-98, as amended by RR No. 11-2018, on the imposition of creditable withholding tax for top withholding agents. SECTION 2. AMENDATORY PROVISIONS – The pertinent provisions of Section 2 of RR No. 2-98, as amended, are hereby further amended to read as follows: “SECTION 2.57.2. Income Payments Subject to Creditable Withholding Tax and Rates Prescribed Thereon. Except as herein otherwise provided, xxx. (I) Income payment made by top withholding agents, either private corporations or individuals, to their local/resident supplier of goods and local/resident supplier of services other than those covered by other rates of withholding tax. [formerly under letters (M) and (W)] – Income payments made by any of the top withholding

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Revenue Regulations No. 23-2025 – Updated Policies, Guidelines, and Procedures in the Implementation of the Tax Subsidy Granted by the Fiscal Incentives Review Board (FIRB) to the Armed Forces of the Philippines Commissary and Exchange Service (AFPCES)

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SECTION 1. SCOPE. – These regulations are hereby promulgated to implement the tax subsidies granted by the FIRB to the AFPCES with respect to their purchases from local manufacturers, procedures, or suppliers of articles or commodities subject to value-added tax (VAT) and/or excise tax and the sale thereof to persons entitled to commissary previleges, updating for this purpose Revenue Regulations Nos. 13 – 2002 and 31-2003. SECTION 2. COVERAGE- The priviledges granted herein shall be limited to the products/goods, amount of tax subsidy, scope and period of tax subsidy as provided in the FIRB Resolution and Certificate of Entitlement to Subsidy (CES) issued by the FIRB. SECTION 3. GENERAL GUIDELINES. – Applications for ta expenditure subsidies shall be filed with the FIRB following the prescribed requirements and procedures under the Department of Budget and Management Joint Circular (DOF-DBM JC) No. 001-2024 or the “Rules, Guidelines, and Procedures Implementing the Tax

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Revenue Regulations No. 22-2025 – Further Amending Pertinent Provisions of Revenue Regulations 17-2011 to implement Section 9 of Republic Act (RA) No. 12214, Otherwise Known as the “Capital Markets Efficiency Promotion Act”, on Additional Deduction of Qualified Employer’s Actual Contributions Made to Personal Equity and Retirement Account (PERA) Under RA No. 9505, Otherwise Known as the “PERA Act of 2008”

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SECTION 1. SCOPE – Pursuant to Sections 244 and 245 of the National Internal Revenue Code of 1997, as amended (Tax Code), in relation to Section 9 of Republic Act (RA) No. 12214 otherwise known as the Capital Markets Efficiency Promotion Act (CMEPA), these Regulations are hereby promulgated to further amend Section 7(B) of Revenue Regulations (RR) No. 17-2011 by revising guidelines on the allowed deduction which the employer may claim from his/its qualified contribution to employee’s Personal Equity and Retirement Account (PERA) under RA No. 9505, otherwise known as the PERA Act of 2008. SECTION 2. COVERAGE. – These Regulations shall cover qualified employer’s actual contribution made to PERA on July 1, 2025 onwards. SECTION 3. ADDITIONAL DEDUCTION FROM GROSS INCOME FOR PRIVATE EMPLOYERS THAT CONTRIBUTE TO PERA – Section 7(B)(II) of RR No. 17-2011, is hereby amended to read as follows: “Section 7. PERA Contributions and Tax Credit.

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Revenue Regulations No. 21 – 2025 – Implementing the Amendments Introduced by Republic Act No. 12214, Otherwise Known as the “Capital Markets Efficiency Promotion Act” on Sections 22, 24, 25, 27, 28, 32, 34, 38, 39, and 42 of the National Internal Revenue Code of 1997, as amended

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SECTION 1. – SCOPE – Pursuant to Sections 244 and 245 of the National Internal Revenue Code of 1997, as amended (Tax Code), in relation to Sections 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, and 25 of Republic Act (RA) No. 12214, or the “Capital Markets Efficiency Promotion Act” (CMEPA), these Regulations are hereby promulgated to implement the amendments to Sections 22, 24, 25, 27, 28, 32, 34, 38, 39, and 42 of the Tax Code. SECTION 2. DEFINITION OF TERMS – For purposes of these Regulations, the following terms shall be taken to mean as follows: a. Shares of stock – refer to shares of stock of a corporation, warrants, options, as well as units of participation in partnerships (except general professional partnership), joint stock companies, joint accounts, joint ventures taxable as corporations, associations, and recreation or amusement clubs (such as golf, polo or similar clubs),

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