2016 - Paguio, Dumayas & Associates, CPAspaguiodumayasassoc.com/articles/QualityAssuranceBulletin... · 2016. 9. 7. · Revenue Memorandum Circulars (RMC) ... pension of Audit Pursuant

AUG

2016

Q U A L I T Y A S S U R A N C E B U L L E T I N

SECURITIES AND EXCHANGE COMMISSION (SEC)

Revenue Memorandum Order (RMO)

RMO 47-2016 Assumption of duty of Nestor S. Valeroso as Deputy Com-

missioner of Internal Revenue, Operations Group

Revenue Memorandum Circulars (RMC)

RMC 84-2016 Exempting all taxpayers applying for issuance of tax credit

on Writ of Execution issued by Court of Tax Appeals and Supreme Court

RMC 85-2016 Further clarification issues concerning Suspension of Audit

pursuant to RMC 70-2016, as supplemented by RMC 75-2016

RMC 86-2016 Publication of the full text of the Joint Administrative Order

No. 1-2016

RMC 87-2016 Clarification of RMC 70-2016

RMC 89-2016 Lifting the Suspension of Audit if Bureau of Internal for Run

After Taxpayer Cases

BUREAU OF INTERNAL REVENUE (BIR)

Memorandum Circular 12-2016 Subscription Contracts

Memorandum Circular 13-2016 Guidelines on the issuance of

Certification of Paid-up Capital

Memorandum Circular 14-2016 General Information Sheet and

Notification Update Form

Issue 2016-2 Page 2

NESTOR S. VALEROSO as Deputy Commis-

sioner of Internal Revenue, Operations

Group

Issued last August 8, 2016, pre-scribing to exempt all taxpayers who are applying, including those who have already applied for the issuance of tax credit/refund based on a Writ of Execution issued by the

Court of Tax Appeals or the Supreme Court from the re-quirement of Certifications on Outstanding Tax Liabilities Delinquency Verification Slips prescribed under all existing revenue regulations, rules and procedures.

Issued last August 12, 2016 for the information and guidance of all concerned to further clarify certain issues concerning sus-pension of audit pursuant to Revenue Memorandum Circular (RMC) No. 70-2016, as supplemented by RMC No. 75-2016. Q1. Is the processing of request/application for tax refund/

tax credit certificate (TCC) covered by the suspension of investigation under RMC No. 75-2016?

A1. No. The processing of all requests/application for Tax

Refund/TCC regardless of Tax Type is not covered by the suspension of investigation. However, the subject of the Letter of Authority (LOA) to be issued shall cov-er only the specific Tax Type which is the subject of the request/application for refund/TCC.

Q2. Is the verification/evaluation of issued Letter Notices

(LNs) covering taxable year 2013 covered by the sus-pension of investigation under RMC No. 70-2016?

A2. Yes. The verification/evaluation of issued LNs covering

taxable year 2013 is suspended under RMC 70-2016. However, LNs covering taxable year 2013 with corre-sponding “open” LOAs issued prior to July 1, 2016 are not covered by the suspension of investigation.

Exempting all taxpayers applying for is-

suance of tax credit on Writ of Execution

issued by Court of Tax Appeals and Su-

preme Court Issued last August 8, 2016, prescribing the assumption of NESTOR S. VALEROSO to the duties of Deputy Commissioner of Internal Revenue, effective August 8, 2016. All papers and correspondence prepared for the signature of the Deputy Commissioner for Operations Group pur-suant of Revenue Memorandum Order No. 65-75 dated November 1975 and other subsequent Orders, shall be pre-

pared and signed by him.

Further Clarification Issues Concerning Sus-

pension of Audit Pursuant to Revenue Memo-

randum Circular (RMC) No. 70-2016 as sup-

plemented by RMC No. 75-2016

Clarification of RMC 70-2016

Issued last August 15, 2016 to clarify the RMC 70-2016, the

Philippines, being the member of the Global Forum on

Transparency and Exchange of Information (EOI) for Tax

Purposes, adheres to the international standard of timely

responding to an EOI request within 90 days through the

EOI Section of the International Tax Affairs Division. An EOI

request is essentially not aimed at domestic tax liabilities.

Consequently, EOI processes, including access to infor-

mation of taxpayers’ records as provided under RMO No. 2-

2013 and RMC No. 70-2016.

Issued last August 12, 2016 for the information and guidance of all concerned publishing the full text of the Joint Adminis-trative Order No. 1-2016 dated June 23, 2016 – Rules and Regulations to Implement RA No. 10708, otherwise known as “The Tax Incentives Management and Transparency Act (TIMTA)” as attached in this Bulletin.

Revenue Circular Lifting the Suspension of

Audit of the Bureau of Internal for Run Af-

ter Taxpayer Cases

Issued last August 23, 2016, BIR lifted the suspension of all field audit and other field operations relative to examination and verification of taxpayers’ books of accounts, records and other transactions, as issued by the Revenue Memorandum Circular No. 89-2016. “To continue the mandate of the BIR to investigate criminal violations of the National Internal Revenue Code of 1997, as amended, and to prosecute such cases to deter, to the great-est possible degree, tax evasion practices, and to encourage voluntary compliance with the internal revenue tax laws, the suspension of the implementation of Letters of Authority per-taining to the Run After Tax Evader (RATE) Program is LIFT-ED.” Therefore, as prescribed in the RMC, field audits, field opera-tions, any form of business visitations and all activities con-nected directly in the implementation of Letters of Authority pertaining to RATE cases shall be resumed/continued or con-ducted in accordance with the existing Rules and Regulations of the BIR.

Publication of the full text of the Joint Ad-

ministrative Order No. 1-2016

Issue 2016-1 Page 6

Issue 2016-1 Page 3

Guidelines on the issuance of certification of Paid-up Capital

Issued last August 18, 2016, the Commission En Banc, in its meeting resolved to issue guidelines on the Issuance of Certification of Paid-Up Capital, as follows:

1. A certification of paid-up capital shall be issued upon request to be filed at the Company Registration and Monitoring Department (CRMD) and Extension Offices (Eos) of the Commission;

2. A certification of paid-up capital may be based on the following:

A. Audited Financial Statements (AFS) as of the last fiscal year

stamped received by the Bureau of Internal Revenue (BIR) and Securities and Exchange Commission (SEC); or

B. Audited Financial Statements duly received by the Commis-

sion; or C. Articles of Incorporation, with reference to the paid-up capital

in the Treasurer’s Affidavit and as certified by the Treasurer-in-Trust; or

D. Latest Approved Certificate of Filing of Increase of Capital

Stock, supported by a report of the Financial Analysis and Audit Division (FAAD) or Corporate and Partnership Registra-tion Division (CPRD) or CRMD or by Sec Extension Offices.

3. The Corporation shall submit the following:

A. Duly accomplished request form stating the basis of certifica-

tion in accordance with item no. 2;

B. Audited Financial Statements as of the last fiscal year stamped received by BIR and SEC;

C. Audited Interim Financial Statements duly received by the

Commission, in case there is/are payments to unpaid sub-scription(s) after the issuance of the AFS as of the last fiscal year.

D. Notarized Secretary’s Certificate on No Pending Intra-

Corporate Dispute; and E. Monitoring Clearance

The filing fee in the amount of Php1,000.00 shall be paid for the issu-ance of the certification.

General Information Sheet and Notification Update Form

Issued last August 04, 2016, the Com-mission En Banc in its meetings last June 21 and 30, 2016 had resolved to ap-prove the following revisions in the forms for General Information Sheet (GIS) and Notification Update Form (NUF): 1. In the GIS, the column for the Tax Identification Number (TIN) of the Board of Directors/Trustees, Officers, Stock-

holders/Members of Domestic Corporation and Resident Agent and Officers in the Philippines of Foreign Corporations shall be accom-plished in separate sheet denoted as TIN page;

2. In the NUF for Foreign Corporations the column for the TIN of

Officers shall be accomplished in a separate sheet denoted as TIN page; and

3. The Secretary’s Certification page of the GIS for stock and non-

stock Corporations shall now read as follows:

“I, ______________ Corporate Secretary of the above-mentioned declare under the penalty of perjury, that all matters set forth in this General Information Sheet which consists of (__) pages have been made in good faith, duly verified by me and to the best of my knowledge and belief, are true and correct.

I hereby certify that the persons indicated as members of the Board of Directors/Trustees and Offic-ers of the Corporation had consented to be nominated and elected.

I understand that failure of the Corporation to the GIS for Five (5) consecutive years shall be con-strued as non-operation of the Corporation and a ground for the revocation of the Corporation’s Certifi-cate of Incorporation in this eventuality, the Corpora-tion hereby waives its right to a hearing for the said revocation.”

These revised GIS and NUF shall be available in the SEC Website for downloading and shall be used by Corporations in January 2017.

Subscription Contracts

Issued last August 5, 2016, Com-mission En Banc in its meeting held on August 2, 2016 had resolved to amend Item No. 2 of Memorandum Circular No. 6 series of 2012, which shall be amended as below: Consistent with the objectives of Republic Act 9485 (otherwise known as the Anti Red Tape Act of 2007), the Commission, in its meetings on July 12 and July 27, 2012, resolved to dispense with the

following requirements in the registration activities set forth below:

1. BANK CERTIFICATE OF DEPOSIT – for registration of the Articles of Incorporation of new corporations where the sub-scription is other than cash, the non-cash subscription shall be proven by the appropriate supporting documents;

2. SPECIAL AUDIT REPORT – for applications to increase the authorized capital stock of corporations where the subscription to the increase is paid in cash except (a) listed companies, (b) public companies defined in the Securities Regulation Code,

Issue 2016-1 Page 6

Issue 2016-1 Page 4

Consolidated Schedule of Fees and Charges

REGISTRATION AND FILING FEES

Particulars Rates

DOMESTIC CORPORATIONS

Articles of Partnership 1/5 of 1% of the Partnership’s Capital but not less than Php2,000.00

Increase in Capital Partnership 1/5 of 1% of the Partnership’s Capital but not less than Php2,000.00

Amended Articles of Partnership Php2,000.00

Deed of Assignment of Partner’s interest Php2,000.00

Articles of Dissolution of Partnership Php1,000.00

Affidavit of Withdrawal of Partner Php1,000.00

Articles of Incorporation

Stock Corporation with par value

Stock Corporation without par value

1/5 of 1% of the authorized capital stock or the subscription price of the subscribed capital stock whichever is higher but not less than Php2,000.00 1/5 of 1% of the authorized capital stock computed at Php100.00 per share or the subscription price of the subscribed capital stock whichever is higher but not less than Php2,000.00

Articles of Incorporation of Non-stock Corporation

Php1,000.00

Issued last August 11, 2016, below are the list of all fees and charges to be imposed and collected by the Securities and Exchange Com-mission (SEC) as approved by the Department of Finance (DOF):

(c) companies that offer or sell securities to the public, (d) where the payment to the subscription to the in-crease is more than Fifty Million Pesos (Php50,000,000.00);

In lieu of such report, a notarized Subscription Contract

among the stockholder/ s, treasurer and president of the corporation stating the number of additional shares subscribed to and paid for shall be submitted by the corporation.

3. PRIMARY ENTRY – for Deed of Assignment in the regis-

tration of new corporations or increase in the authorized capital stock where land or real estate property is offered as consideration subscription of shares of stock.

Issue 2016-1 Page 6

Issue 2016-1 Page 5

Consolidated Schedule of Fees and Charges Continuation. . .

Particulars Rates

Amended Articles of Incorporation

Stock Corporations Non-stock Corporations

Php1,000.00 Php1,000.00

Amended Articles of Incorporation re: conversion/reclassification of shares

Php2,000.00

Amended By-laws of both Stock and Non-Stock Corporation

Php2,000.00

Amended By-laws of both stock and non-stock Cor-poration

Php1,000.00

Increase of Capital Stock

Corporation with par value

Corporation without par value

1/5 of 1% of the increase in capital stock or the subscription price of the subscribed capital stock whichever is higher but not less than Php3,000.00 1/5 of 1% of the increase in capital stock computed at Php100.00 per share or the subscription price of the subscribed capital stock whichever is higher but not less than Php3,000.00

Decrease of Capital Stock

Return of capital All others

Php5,000.00 Php3,000.00

Merger or consolidation of Corporation

In merger, in case of simultaneous filing of application for increase of authorized capi-tal stock the surviving Corporation

In consolidation where the total equity of Cor-poration is different from authorized capi-tal of the consolidated Corporation

1/5 of 1% of the equity of the absorbed Corporation/s but not less than Php3,000.00 Filing fee for increase in capital stock or the filing fee for merger whichever is higher but not less than Php3,000.00 1/5 of 1% of total equity of the constituent corporations or the filing fee for Articles of Incorporation whichever is higher

Valuation of Consideration for shares of stock 1/5 of 1% of the value of shares of stock to be issued but not less than Php3,000.00

Equity Restructuring To wipe out existing deficit To create additional paid in capital

Php5,000.00 1/5 of 1% of the amount infused but not less than Php5,000.00

Stock/Cash dividend of up to Php50,000.00 declared by the Corporation whose securities are not listed

Php500.00

Issue 2016-1 Page 6

Issue 2016-1 Page 6


Particulars Rates

Stock/Cash dividend of over Php50,000.00 declared by the Corporation whose securities are not listed

Php1,000.00

Property Dividend Declaration 1/5 of 1% of the amount declared but not less than Php5,000.00

Dissolution via shortening of Corporate term

Stock Corporations Non-stock Corporations

Php1,000.00 Php500.00

FOREIGN CORPORATIONS AND MULTINATIONAL

Application under the Foreign Investments Act (aside from the filing fee for the Articles of Incorpo-ration

Php3,000.00

Applications of Stock Foreign Corporations

Branch office Representative Office

1% of the actual inward remittance of the Corporation converted into Phil-ippines currency but not less than Php3,000.00 1/10 of 1% of the actual inward remittance of the Corporation converted into Philippine currency but not less than Php2,000.00

Application of Non-Stock Foreign Corporations

Branch office Representative office

Php3,000.00 Php3,000.00

Application of Multinational Corporations for Region-al Operating Headquarters or conversion of a Re-gional or Area Headquarters into Regional Operating Headquarters

1% of the actual remittance but not less than 1% of peso equivalent of $200,000.00 at the time of remittance

Application of Multinational Corporations for Region-al or Area Headquarters

Php5,000.00

Petition for Amendment of license of Foreign Corpo-rations and Multinational Corporations

Php3,000.00

Petition for Withdrawal of License of Foreign Corpo-rations and Multinational Corporations

Php3,000.00

Petition for Appointment/Substitution of a Resident Agent

Php3,000.00

Petition for Revocation of Appointment of Resident Agent

Php3,000.00

Amended Articles of Incorporation & By-laws of a Foreign Corporation

Php2,000.00

Recording of Deed of Assignment of Shares of Stock (For deletion but shall be replaced by Voting Trust Agreement)

P500.00/trustor

Issue 2016-1 Page 6

Issue 2016-1 Page 7


Particulars Rates

Petition to Set Aside Order of Suspension/Revocation

Php3,000.00

Petition for Correction in Articles of Incorporation Php3,000.00

FINANCING/LENDING COMPANIES

Application for Certificate of Authority to Operate as a Finance/Lending Company (Head Office)

1/10 of 1% of the paid up capital

Application for Certificate of Authority to Operate as a Lending Company (Branch Office)

1/10 of 1% of the assigned capital of the branch, extension office, unit or satellite office

Amendment of Certificate of Authority of a Fi-nancing/Lending Company

Head office Branch office

Php500.00 Php500.00

Annual lending fee Lending Companies


1/8 of 1% of the required paid-up capital 1/8 of 1% of the required paid-up capital

Annual Fee Financing Companies

Head office Metro Manila and other 1st class cities Other classes of cities Municipalities

Branch office

Metro Manila and other 1st class cities Other classes of cities Municipalities

Php10,000.00 Php5,000.00 Php2,500.00 Php1,000.00 Php500.00 Php250.00

CAPITAL MARKET PARTICIPANTS (MUTUAL FUND DISTRIBUTIONS/CERTIFIED INVESTMENT SOLICITORS/BROKERS/DEALERS/INVESTMENT HOUSES/UNDERWRITER OF SECURITIES/INVESTMENT COMPANY/GOVERNMENT SECURITIES

ELIGIBLE DELEARS/TRANSFER AGENTS

Registration as Mutual Fund Distributor

NEW ANNUAL FEES

Php5,000.00 + LRF of 1% 1/2,000 of 1% of total value of securities

Amendment of Certificate of Registration of Capital Market Participants


Php500.00 Php300.00

Registration as Certified Investment Solicitor Php2,500.00 (Last quarter registration fee: ¼ new registration fee + renewal fee)

Php1,200.00

Brokers/Dealers (Main Office) Php75,000.00 + LRF of 1% 1/2,000 of 1% of total value turno-ver covering the period from Oct. 1 of the previous year to Sept. 30 of the current year but in no case shall be less than Php30,000.00 nor more than Php100,000.00 + LRF of 1%

Issue 2016-1 Page 6

Issue 2016-1 Page 8


Particulars Rates

Investment House/Underwriter with Government Securities Eligible Dealers (GSED)

Php75,000.00 + LRF of 1% Total annual fees as IH + total annual fees as GSED + LRF of 1%

Investment House Branch office Php10,000.00 + LRF of 1% Php15,000.00 + LRF of 1%

Investment House Compliance officer/associated person

Php3,000.00 + LRF of 1% Php1,500.00 + LRF of 1%

Government Securities Eligible Dealers (GSED) Php75,000.00 + LRF of 1% 1/2,000 of 1% of total value turno-ver covering the period from Oct. 1 of the previous year to Sept. 30 of the current year but in no case shall be less than Php30,000.00 nor more than Php100,000.00 + LRF of 1%

Government Securities Eligible Dealers Compliance officer/associated person

Php3,000.00 + LRF of 1%

Php1,500.00 + LRF of 1%

Investment Company Advisor

NEW ANNUAL FEES

Php15,000.00 + LRF of 1% 1/2,000 of 1% of the average end-of-month value of assets managed covering the period from Oct. 1 of the previous year to Sept. 30 of the current year but in no case shall be less than Php30,000.00 nor more than Php100,000.00 + LRF of 1%

Investment Company Adviser/Compliance officer Php3,000.00 + LRF of 1% Php1,500.00 + LRF of 1%

Transfer Agents Php10,000.00 + LRF of 1% Php10,000.00 + Php500.00 per issue handled (total not exceeding Php10,000.00) + LRF of 1%

EXCHANGES/SELF-REGULATORY ORGANIZATIONS/CLEARING HOUSES AND CENTRAL DEPOSITORIES

Exchanges Php50,000.00 + LRF of 1% See Table below.

Philippine Stock Exchanges (PSE) Additional fees of exchanges

Per semester, 1/100 of 1% of the aggregate amount of the sales of securi-ties transacted on such Exchange during the preceding calendar year or any part thereof

Issue 2016-1 Page 6

Issue 2016-1 Page 9


Particulars Rates

Philippine Dealing and Exchanges (PDEx) Addi-tional fees of exchanges

Per semester, 1/1,000 of 1% of the aggregate amount of the sales of se-curities transacted on such exchange during the preceding calendar year or any part thereof

Value Turnover Per Semester Transaction Fee

Below 100 B >100 B ≤ 150 B >151 B ≤ 200 B >201 B ≤ 250 B >251 B ≤ 300 B >301 B ≤ 350 B >351 B ≤ 400 B >401 B ≤ 450 B >451 B ≤ 500 B >501 B ≤ 550 B >551 B ≤ 600 B >601 B ≤ 650 B >651 B ≤ 700 B >701 B ≤ 750 B >751 B ≤ 800 B >801 B ≤ 850 B >851 B ≤ 900 B >901 B ≤ 950 B

500,000.00 600,000.00 700,000.00 800,000.00 900,000.00

1.0M 1.1M 1.2M 1.3M 1.4M 1.5M 1.6M 1.7M 1.8M 1.9M 2.0M 2.1M 2.2M

Value Turnover Per Semester Transaction Fee

>951 B ≤ 1 T > T

2.3M M

Clearing agencies

NEW ANNUAL FEES

Php50,000.00 + LRF of 1% 1/1,000 of 1% of transactions cleared and settled in the previous year + 1%

Central depositories Php50,000.00 + LRF of 1% 1/2,000 of 1% of securities in cus-tody during the previous year + LRF of 1%

Securities Borrowing and Lending Agencies Php10,000.00 + LRF of 1% Php15,000.00 + LRF of 1%

Self Regulatory Organizations Php50,000.00 + LRF of 1% Php100,000.00 + LRF of 1%

Request for approval of stabilization activities Php50,000.00 per issue and per company

ISSUERS OF SECURITIES

Registration Statement

Maximum Aggregate Price of Securities to be offered

Amount of filing fee

Not more than Php500M 0.10% of the maximum aggregate price of the securities to be offered

More than Php500M but not more than Php750M

Php500,000.00 + 0.075% of the excess over Php750M

More than Php1B Php812,500 + 0.025% of the ex-cess over Php1B The computation of filing fee ex-cludes negotiated shares

Securities to be registered but which are not part of the offering, shall be based on Par Value In the case of options or warrants which have no issue value: Minimum of Php50,000.00 in addition to the diminishing fee due on the underlying shares

Issue 2016-1 Page 6

Issue 2016-1 Page 10


Particulars Rates

Shelf Registration Shelf Registration Upon filing of registration statement – based on the value of the

1st Tranche Filing fees for subsequent tranches – payable within seven (7)

business days prior to commencement of the offer/sale

Registration fee of mutual funds based on net asset value per share but in no case less than par value The registration shall execute an undertaking

to pay the remaining registration fees no later than 30 days prior to the expiry of the three (3) year period reckoned from the date of effectivity of the Registration Statement

Pay the filing fee for registration of securities in tranches, rather than upfront, based on the total value of shares covered by the Registration Statement, provided, however, that the open-end investment company must, upon filing the Regis-tration Statement (RS), submit a sworn by its President indicating the schedule or program for the payment of the unpaid fees which must be paid within three (3) years from the effective date of the RS.

Short term Commercial papers

Maximum aggregate price of securities to be offered and amount of filing fee Not more than Php250M – filing fee of 0.10% of the maximum aggregate price the securities to be offered More than Php250M but not more than Php500M – filing fee of Php250,000.00 + 0.075% of the excess over Php250M More than Php500M but not more than Php750M – filing fee of Php437,500 + 0.05% of the excess over Php500M More than Php750M – Filing fee of Php562,500 + 0.025% of the excess over Php750M

Annual Information Statement of Exempt Commer-cial Paper Issuer (SEC Form 85-18-1)



Not more than Php50M worth of CPs

Php10,000.00

Not more than Php100M worth of CPs

Php20,000.00

Up to Php150M worth of CPs Php30,000.00

Issuance of more than Php150M worth of CPs within a 12-month period

1/10 of 1% of the value of CPs

Request for Confirmation re: exempt securities Php1,000.00

Request for Confirmation of exemption 1/10 of 1% of the aggregate value of securities to be sold or issued but in no case less than Php1,000.00

Issue 2016-1 Page 6



Particulars Rates

N.B. Fees paid relative to the exemption shall be credited as filing fee for the subsequent registration of exempted securities

Commercial Paper (CP) issuance over Php150M 1/10 of 1% of the aggregate value of securities to be sold or issued but in no case less than Php50,000.00

Request for exemption 1/10 of 1% of the aggregate value of securities to be sold or issued but in no case less than Php10,000.00

Short Form Registration Statement Php150,000.00 or 0.10% of the maximum aggregate price of the securi-ties to be offered, whichever is higher, less the filing fee previously paid for the exempt transaction

Petition for voluntary revocation of permit to sell securities

Php10,000.00

Amended Registration Statement (any amendment except price increase)

Php12,000.00

Tender Offer Statement



Not more than Php500M 0.10% of maximum aggregate price of the securities to be offered

More than Php500M but not more than Php750M

Php500,000.00 + 0.075% of the excess over Php500M

More than Php750M but not more than Php1B

Php687,500.00 + 0.05 of the ex-cess over Php750M

More than Php1B Php812,500 + 0.025% of the ex-cess over Php1B

Initial Information Statement filed by the Reporting Company

Php7,500.00 All subsequent IS (amended) filed shall be subject to a fee of Php5,000.00 (this is to discourage haphazardly prepared IS)

Information Statement filed by a person other than the Reporting Company

Php5,000.00

Request for Exemptive Relief Php50,000.00 per issue and per Company

Licensing fee 2/10 of 1% of the paid-up capital of the head office, branch, agency of extension office

Request for a new Certificate of Authority re: Change of address

Head office – Php500.00 Branch – Php500.00

ACCREDITATION AND OTHER RELATED FEES

Credit Rating Agencies

Application for Accreditation Php50,000.00

Annual Monitoring fee Annual Fee of Php15,000.00 shall be paid yearly at least 45 days prior to the anniversary date of its accreditation

External Auditor and Firms

Application for accreditation of Individual practition-ers or partners of auditing firms

Group A – Php5,000.00 Group B – Php3,000.00 Group C or D – Php2,000.00

Issue 2016-1 Page 6



Particulars Rates

Annual fee Group A – Php2,500 per accredited partner + Php20,000.00 for the firm Group B – Php2,000.00 per accredited partner + Php15,000.00 for the firm Group C or D – Php1,500 per accredited partner + Php5,000.00 for the firm

Appraisal Companies

Application Php10,000.00

Annual Fee Php2,000.00

Surety Companies

Initial Application Php5,000.00

Renewal Php5,000.00

Annual fee Php1,000.00 + Php100.00 per BD Client

OTHER FEES

Various Certifications

Certification Under ATS Php300.00

General Certifications Php300.00

Certification on Corporation Information, Recording of Deed of Assignment of Stock

Php500.00

Certificate of Company Status Php500.00

Certification on paid-up capital, outstanding capital, percentage of Filipino stockholdings, etc.

Php1,000.00

Certificate of incurring, creating, increasing bonded indebtedness

1/5 of 1% of the total indebtedness but not less than Php1,000.00

Certificate of Authority of Branch office of Financing Company

1/5 of 1% of the assigned capital of the branch, agency, extension office or unit, but not less than Php2,000.00

Certificate of Authority of Branch office of Lending Company

1/5 of 1% of the assigned capital of the branch, agency, extension office or unit, but not less than Php600.00

Registration/Name Verification Fee

Registration fee of Stock and Transfer books Php150.00

Registration fee of Membership book Php75.00

Name Verification/Reservation fee Php100.00/allowed name for 30 days

Issue 2016-1 Page 6



Particulars Rates

Other Filing Fees

Listing fee Php2,500.00

Certification fee for registration or non-registration of securities

Php500.00

Complaints/Petitions Php2,000.00

Request for Confidential Treatment and every re-quest for extension of confidential treatment

Php50,000.00/per information per company

Any other filing made requiring action by the De-partment

Php2,000.00

Petition/Appeals

Petition for revocation of Certificate of Registration Note: To cover all types of petition for revocation

Php3,030.00 (Inclusive of Php30.00 Legal Research Fee)

Petition for change of Corporate name

Petition for Calling of meeting

Appeal from the Order of the Operating Depart-ments

Legal Research Fees

Legal Research Fee 1% of the Registration/Filing fee but not less than Fifty Pesos (Php50.00) shall be paid at the time of filing

Opinions/Confirmation

Request for opinion/confirmation from OGA Php25,000.00 N.B. This involves complex issues that would require extensive research

Request for clarification and other actions from OGA Php10,000.00 N.B. This involves non-complex issues or issues with precedent cases

OGC opinions Php10,000.00

Basic Service Charge

Public Reference Unit Basic Charge Php50.00 per request

Basic Charge (for authentication of documents) Php50.00 per document

Computer processing charge Php4.00 per minute

Viewing fee for i-View facility Php0.50 per page

Reproduction of Documents in plain Microfilm/Digital Copy

Articles of Incorporation/Amended Articles of Incor-poration

Php100.00

By-Laws/Amended By-Laws Php100.00

General Information Sheet Php25.00

Increase in Capital Stock Php70.00

Issue 2016-1 Page 6



Particulars Rates

Resolution Php25.00

Secretary/s Certificate Php25.00

Board Resolution Php25.00

Registration Data Sheet Php35.00

Deed of Assignment Php25.00

Borrowing fee for hard copy not available in film Php50.00 per doc

Reproduction of Documents in Authenticated Copy

Articles of Incorporation/Amended Articles of Incor-poration

Php200.00

By-Laws/Amended By-Laws Php150.00

General Information Sheet Php100.00

Increase in Capital Stock Php200.00

Resolution Php50.00

Secretary/s Certificate Php50.00

Board Resolution Php25.00

Registration Data Sheet Php35.00

Deed of Assignment Php25.00

Reproduction of documents not mentioned above Php10.00 per page + Php50.00 basic charge per Corporation

Authentication of document not mentioned above Php10.00 per page + Php50.00 authentication fee per document

New generation of statistics or listings, per data year and industry or geographical classification

Php1,000.00 per year of data per listing

Soft copy readily available data

Listing of top 5,000 Corporation (basic indicators i.e., profit, sales, assets, liabilities, equities)

Php1,000.00 per year of data per listing

Company Listings and Statistics

Hard copy of documents with list containing various information i.e. address, industry classification, equity structure etc.

Php5.00 per page

Soft copy of documents with list containing various information i.e. address, industry classification, equity structure etc.

CD – RW media DVD

Php50.00 per piece Php100.00 per piece

SEC Publication

SEC Bulletin Php150 per copy

Unit 3207 Cityland Pasong Tamo Building,

Pasong Tamo St., Barangay Pio del Pilar,

Makati City

Phone: +63 2 950-9854

Fax: +63 2 950-9854

E-mail: [email protected]

We are a team of Certified Public Accountants, who aim to be the accounting firm of choice for business entities in terms of:

Audit and Assurance

Taxation

Business Process Outsourcing

Management Consultancy

Editorial Board

Floyd C. Paguio

Quality Assurance Leader

Managing Partner

This bulletin is a compilation of relevant issuances, rulings and memoranda from various government agencies to en-

hance the technical skills of the professional staff of Paguio, Dumayas and Associates, CPAs and is not intended to re-

place the original issuances of the related government agencies.

Ken John B. Asadon

Quality Assurance Associate

Kiersty Dianne Y. Dela

Cruz

Quality Assurance Associate