DEC.

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) BUREAU OF INTERNAL REVENUE (BIR)

Revenue Memorandum Circulars

RMC No. 42-2017. Circularizing the Revised BIR Form

No. 2305 (Certificate of Update of Exemption, and of

Employer and Employee’s Information) April 2017

ENCS.

RMC No. 43-2017. Availability of the New Versions of

the Update of Exemption of Employees (UEE) Data

Entry Module of Filing of the BIR Form No. 2305

(Certificate of Update of Exemption and of Employers

and Employees Information) and 2305 Batch File

Validation Module.

Announcement

BIR Data Base Clean Up

JUN

2017

Notices

SEC Satellite Offices in Metro Manila

Revocation of Certificate of Registration—Order of

Revocation

Issue 2017-6 Page 2

This Circular is issued to prescribe the revised BIR Form No. 2305 (Certificate of Update of Exemption, and of Employer and Employee’s Information) April 2017 ENCS to reflect the provision of Revenue Regulations (RR) No. 5-2017 implementing Republic Act No. 10754, entitled “An Act Expanding the Benefits and Privileges of Person with Disability (PWD)’ relative to the tax privileges of person with disability.

The revised BIR Form No. 2305, attached as Annex

“A”, will be used by individuals to update their civil status, additional exemption which now includes PWD as an additional exemption/dependent of a benefactor, if applicable, and employer’s information.

Circularizing the Revised BIR Form No. 2305

(Certificate of Update of Exemption, and of Employer

and Employee’s Information) April 2017 ENCS.

Availability of the New Versions of the Update of

Exemption of Employees (UEE) Data Entry Module of

Filing of the BIR Form No. 2305 (Certificate of Update of

Exemption and of Employers and Employees

Information) and 2305 Batch File Validation Module.

Revenue Memorandum Circular No. 43-2017 issued

on June, announces the availability of the new versions of the

Update of Exemption of Employees (UEE) Data Entry Module

of Filing of the BIR Form No. 2305 (Certificate of Update of

Exemption and of Employers and Employees Information) and

2305 Batch File Validation Module.

Updates in the new versions allow the date entry of a

qualified Person with Disability (PWD) dependent as an

additional exemption pursuant to Republic Act (RA) No.

10754.

Every employer should ascertain whether a PWD,

regardless of age, being claimed as a dependent is qualified by

satisfying the following conditions:

A. Filipino citizen; B. Within the fourth (4th) civil degree of consanguinity or affinity to the taxpayer/ benefactor; C. Not gainfully employed; D. Chiefly dependent upon and living with the taxpayer/benefactor. The total number of dependent (qualified dependent children and/or qualified PWD dependent) for which additional exemptions may be claimed by the taxpayer/benefactor shall not exceed four (4). To claim the PWD as qualified dependent, employees shall submit the following documents to their employers, for the first year of claiming the exemption and three (3) years thereafter or upon renewal of the PWD Identification Card (ID), whichever comes first: A. Duly accomplished BIR Form No. 2305; B. Photocopy of PWD ID issued by the Persons with Disability Affairs Office or the City/Municipal Social Welfare and Development Office of the place where the person with disability resides or the National Council on Disability Affairs; C. Sworn Declaration or Identification of Qualified Dependent PWD, Support and Relationship; D. Birth Certificate of PWD; E. Medical Certificate attesting disability issued by in accordance with the Implementing Rules and Regulations of RA No. 17054; F. Barangay Certification attesting the fact that the PWD is living with the benefactor. Employers are advised to use the new versions of the said module, which are available at http://www.bir.gov.ph/index.php/downloadables.html.

Issue 2017-6 Page 3

A. For Non-Individual: (Corporation/Partnerships/Others)

1. Contact Method - email address

2. SEC Registration

3. Contact Person and TIN of the Contact Person

4. Line of Business/PSIC

5. Business Address (Complete)

B. For Individual: (Single Proprietor/Professional)

1. Name of Father

2. Name of Mother

3. Place and Date of Birth

4. Contact Method - email address

5. DTI - Business/ PSIC

6. Line of Business/ PSIC

7. Business Address (Complete)

BIR Data Base Clean Up

Revenue Region No. 8 - Makati City will conduct a Clean Up on its Data Base for all Individual & Non Individual Registrants. Please accomplish BIR Form No. 1901 - For Self-Employed and Mixed Income Individuals, Estates/Trust or BIR Form 1903 - For Corporations/Partnerships (Taxable/Non-Taxable) and submit the same to the Revenue District Office where you are registered on or before July 31, 2017. The following mandatory information are needed:

Issue 2017-6 Page 4

SEC Satellite Offices in Metro Manila

In furtherance of the Securities and Exchange Commission’s dedication to ease the doing of business in the

Philippines, the Commission opened-up Satellite Offices in various locations on Metro Manila that the parties may visit in

order to avail of the services offered by the Commission.

SATELLITE OFFICES

QUEZON CITY

Ali Mall Cubao 2nd Level, Government Center, Ali Mall, Araneta

Center, General Romulo Avenue Cubao Quezon

City, Metro Manila.

364-2679 10:00 a.m to 6:00 p.m

Mondays-Fridays

SM North Edsa Express Center, Lower Ground, The Annex, SM

City, North Edsa, Quezon City, Metro Manila

372-6229 10:00 a.m to 6:00 p.m

Mondays-Fridays

MANDALUYONG

Robisons Galleria Level 4, West Wing, Robinsons Lingkod Pinoy Cen-

ter, Ortigas Avenue, Ortigas Center, Mandaluyong,

Metro Manila

696-9493 10:00 a.m to 6:00 p.m

Mondays-Fridays

MANILA

SM City Manila 5th Floor, Government Service Express Center SM

City Manila, San Marcelino St., Ermita Manila

714-3504 10:00 a.m to 6:00 p.m

Mondays-Fridays

MUNTINLUPA

Satellite Office

Muntinlupa

Government Center, City Hall of Muntinlupa, Na-

tional Road, Pututan, Muntinlupa City

10:00 a.m to 5:00 p.m

Mondays-Fridays

Issue 2016-1 Page 6

Issue 2017-6 Page 5

SERVICES OFFERED:

Verification and reservation of Company names;

Pre-processing of registration applications of

corporations, partnerships, foreign corporations (e.i.

branch and representative offices, regional and regional

operating headquarters);

Pre-processing of applications for amendments including

license to transact business in the Philippines;

Monitoring of corporations and their compliance with

reportorial requirements;

Issuance of Certificate of No Derogatory Information;

Issuance of Certificate on Paid-Up Capital;

Releasing of Certificates of Registration and License to do

business in the Philippines;

Receiving of General Information Sheets and Audited

Financial Statements

Whereas , all lending

companies are required to be

registered as stock corporation

and to obtain a Certificate of

Authority (CA) to operate as a

lending company as provided

under Section 4 of Republic

Act No. 9497, otherwise

known as the Lending

Company Regulation Act of

2007;

Whereas, the records of the Securities and

Exchange Commission (SEC) show that there are several

registered lending companies which failed to obtain CA to

operate as a lending company with the law since it became

effective in 2007;

Whereas, these companies were ordered and

afforded more time which to obtain the necessary CA but

still failed to do so;

Whereas, the SEC suspended the Certificate of

Registration of eighty-four (84) lending companies on 23

March 2017 and were given a period of sixty (60) days or

unti 23 May 2017 within which to obtain the necessary CA,

otherwise their Certificate of Registration will be revoked;

the same applied to the twenty (20) more lending companies

whose Certificate of Registration were suspended on 6 April

2017 which were given until 5 June 2017 within which to

obtain the necessary CA;

Whereas, due to the lapse of the period of

suspension, the Commission in its EnBanc meeting on 24

May and 6 June 2017 resolved to revoke the Certificates of

Registration of eighty-three (83) and twenty (20) lending

companies, respectively;

Revocation of Certificate of Registration—Order of

Revocation

Issue 2016-1 Page 6

Issue 2017-6 Page 6

Whereas, the SEC also revoked the Certificates of Registration of twenty-seven (27) Lending Corporations and

cancelled the recordings of Eight Hundred Sixteen (816) and seventy nine (79) Lending Partnerships on 6 June 2017 and 20

June 2017, respectively.

Wherefore, NOTICE is hereby given that the Certificates of Registration/Recording of the lending companies hereto

listed in Annex “A” which failed to obtain the Certificate of Authority to operate as a lending company despite several orders

to the SEC are hereby revoked/cancelled.

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: info@paguiodumayasassoc.com

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

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

replace the original issuances of the related government agencies.

Ken John B. Asadon

Senior Tax Specialist

Aileen P. Melchor

Tax Specialist