Legal & Tax Updates

SEC Updates Rules on Beneficial Ownership Disclosure

The Securities and Exchange Commission (SEC) has issued Memorandum Circular No. 15, Series of 2025, introducing key updates to the beneficial ownership disclosure framework.

A Beneficial Owner is defined as a natural person who owns or exercises effective control over a corporation. Only natural persons shall be recognized as beneficial owners. The SEC has provided nine categories (A through I) for determining control. Category A now explicitly requires the identification of natural persons who directly or indirectly own at least twenty percent (20%) of the voting rights, shares, or capital of the entity.

SEC Requires Sustainability Reporting Under PFRS S1 and S2

ULAS Portal to Launch in 2026: What Lawyers and Firms Must Prepare For

DICT Extends ITC Registration Validity to 15 Years Under Amended Common Tower Policy

Updated Socialized Housing Price Caps

New De Minimis Benefit Thresholds Under RR No. 29-2025

Regulating Connectivity: An Overview of the Konektadong Pinoy Act IRR

The IRR of RA No. 12252: A Guide for Foreign Investors

SEC: Retirement Plan Loan Programs Are Not Covered by the Lending Company Regulation Act

The Philippines Imposes Total Ban and Criminalizes POGOs

ERC Removes TCOS Factor, Eases Financial Rules for RES Licensing

ERC Issues Rules to Enforce SC Decision in MERALCO Unbundling Case

New BIR Rules Limit Depreciation, Curb Abuse of Tax-Exempt Car Privileges

PEZA Clarifies VAT Zero-Rating Rules Under CREATE More Act

Extension of the RMC Broadcasting Corporation Franchise

The Philippines Advances Connectivity with the Konektadong Pinoy Act

Nuclear Safety in the Philippines: Key Highlights of RA 12305

SEC Streamlines Regulatory Applications

Foreign Ownership and Board Seats Limits in Philippine Corporations

SC Issues 2025 Transitory Rules on Electronic Filing and Service

The Philippines Opens Doors to Remote Workers With Digital Nomad Visa

New Philippine Institute to Lead Virology and Vaccine Research

ARROW Act Expands Scope and Accelerates Land Acquisition Processes

Harmonizing Investment and Environmental Protection: The DENR’s Sustainable Forest Land Management Agreement (SFLMA)

The Energy Regulatory Commission Amends the Net-Metering Rules for Renewable Energy

DOE Sets Rules for Carbon Credit Generation and Trading

BIR Issues New Tax Rules Under CMEPA: Key Adjustments to Auto, Stock, and Stamp Taxes

Strengthening Nuclear Safety and Security

The Supreme Court Clarifies Stockholder Status

Energy Regulatory Commission Adopts Summary Proceedings to Expedite Regulatory Approvals

SEC Opinion Clarifies Limits on Representative Offices: Importation for Distribution Deemed Income-Generating

Joint Venture Corporations Must Follow Philippine Corporate Law

Pick-Ups Lose Tax-Exempt Status Starting July 1, 2025

SEC Clarifies Use of Trade Names After Merger Under the Revised Corporation Code

Supreme Court Decision Clarifies the Scope of PEZA VAT Exemptions

SEC Issues Rules and Guidelines on the Operations of Crypto-Asset Services Providers

Development of Philippine Natural Gas Industry under R.A. 12120

DENR issues the Guidelines in Securing an Environmental Compliance Certificate (ECC) under the Philippine Environmental Impact Statement System (PEISS) for Floating Photovoltaic (FPV) Projects on inland freshwater bodies

Supreme Court Affirms Rule on Written Notice in Co-Ownership and Legal Redemption

Supreme Court Abandons the Second Place Doctrine in Mangudadatu v. COMELEC

Supreme Court Rules Acknowledgement Receipt Constitutes a Contract to Sell, Not a Contract of Sale

NPC Issues Guidelines on Personal Data Processing Using Body-Worn Cameras and Recording Devices

ERC Adopts Green Energy Auction Reserve (GEAR) Prices for Round 4 of the Green Energy Auction Program (GEAP)

BIR Updates Guidelines on Loose Documentary Stamps Through Revenue Memorandum Circular No. 56-2025

DOLE Issues Supplemental Guidelines Clarifying and Amending Rules on Employment of Foreign Nationals

Extension of PSALM’s Corporate Life Under Republic Act No. 12179

Supreme Court En Banc Issues A.M. No. 02-8-13-SC to Enhance Digital Capacity of Clerks of Court for Notarial Records

SEC Issues the Rules On Crypto-Asset Service Providers Relevant To Its Public Offering And Marketing

NPC Issues Guidelines on Personal Data Processing Using Body-Worn Cameras and Recording Devices

DOLE Issues Department Order No. 252-25: Revised Implementing Rules on Occupational Safety and Health in the Philippines

Revenue Regulations No. 15-2025: Revised Private Retirement Benefit Plan Regulations

PEZA Memorandum Circular No. 2025-020: VAT Certification Nos. 2025-0299 to 2085 and 2025 VAT Updated Issue No. 0002-0011

BSP issues Circular Letter No. CL-2025-017 for the Publication/Posting of Statement of Condition and/or Consolidated Statement of Condition, and Balance Sheet

BSP issues Circular No. 1212 Series of 2025 or the “Amendments to foreign exchange regulations covering FX derivatives, involving the Philippine Peso, and other transactions under the Manual of Regulations on Foreign Exchange Transactions and the Manual of Regulations for Banks”

BIR Ruling No. OT-007-2025: Tax Implications on Pontoon Boats Imported for Display

Supreme Court Approves the Rules on Electronic Notarization

Supreme Court issues Rules on the Transmission and Execution of Letters of Request for Taking of Evidence in Civil or Commercial Matters

Supreme Court Clarified the Diligence Required in Dealing with Reconstituted Titles

Understanding NPC Advisory Opinion No. 2024-016: Disclosure of Personal Data Pursuant to a Mission Order by the Bureau of Internal Revenue

DOLE issues new Rules and Regulations on the Employment of Foreign Nationals

DOLE Issued the Revised Rules and Regulations Regarding the Mandatory Conciliation-Mediation, or the Single-Entry Approach Implementing Rules and Regulations

The National Privacy Commission Issues Guidelines on Child-Oriented Transparency

Supreme Court Approves New Rules on Mandatory Pro Bono Legal Aid Service in Administrative Matter No. 22-11-01-SC

The National Privacy Commission Issues Guidelines on the Application of the Data Privacy Act to Artificial Intelligence Systems Processing Personal Data

Applicability of Mandatory Tender Offer Rule (SEC OGC Opinion No. 24-38)

Definition and Composition of Paid-Up Capital under the Retail Trade Liberalization Act of 2000, As Amended (SEC OGC Opinion No. 24-39)

SEC-OGC Opinion No. 24-34, Re: Foreigner appointed as Chairman of a corporation engaged in a partially nationalized economic activity

SEC-OGC Opinion No. 24-35, Re: Appropriation of Retained Earnings for Contingencies;

SEC-OGC Opinion No. 24-36, Re: Additional Paid-In Capital; Foreign Equity Ownership Requirement for Corporations engaged in Land or Real Estate Business

SEC-OGC Opinion No. 24-37, Re: Number of Directors in a Financing Company

SEC-OGC OPINION NO. 14-2024: Re: Inspection Rights of Shareholders

BSP Advises BSFIs on Beneficial Ownership Due Diligence

BIR Ruling No. OT-028-2024: Clarification on the Basis for the Computation of the Creditable Withholding Tax and Documentary Stamp Tax on its Transaction involving the Sale of Real Property on Installment

SEC Mandates Publicly Listed Companies to Upload the Minutes of their Regular and Special Meetings

BIR Denies M.C. Holdings Corporation’s Request for VAT Exemption on Property Dividends

BIR Prescribes the Presentation of Tax Clearance Prior to Final Settlement of Government Contracts

BIR Clarifies the Deadline of Filing Documentary Stamp Taxes Return and Payment provided under Republic Act No. 11976 or the “Ease of Paying Taxes Act”

BIR Issues Revenue Regulations No. 12-24 Amending Rules on the Validity of CARs

The SEC on Financing Leasing Transactions

BIR Issues Revenue Regulations No. 11-2024 Amending Transitory Provisions on Deadlines for Compliance with the Invoicing Requirements

BIR Clarifies Certain Issues Relative to the Implementation of Section 19 of the Ease of Paying Taxes Act Which Added Section 110(D) to the National Internal Revenue Code

Voting by Remote Communication Based on a Board Resolution

SEC OGC OPINION NO. 11-2024: Re: Annual Meeting via Remote Communication and Voting in Absentia

BIR Ruling No. OT-022-2024: Clarification on the Applicable Taxes Due on Termination Fee

SEC OGC OPINION NO. 10-2024: Re: Perpetual Term of Officers

BIR Clarifies Creditable Withholding Tax Exemption of BOI-Registered Enterprise

SEC Issues Opinion Addressing Issues Regarding Liquidation, Certificate of Dissolution, Appointing Trustees, and Conveyance

SEC OGC Opinion No. 09-2024: Re: Doing Business in the Philippines

BIR Clarifies Policy on Antedating Deeds of Sale Involving Real Properties

SEC OGC Opinion No. 04-2024: Re: Applicability of SRC Registration Requirements to Timeshares

BIR Clarifies the Taxability of Transactions involving Purchase of E-Gift Vouchers/Certificates by Companies from Merchants

SEC Clarifies Liquidation Beyond the 3-Year Winding Up Period

Guidelines for the Filing of the Registration Statements by Power Generation and Distribution Utilities Companies

SEC Issues Guidelines for Cornerstone Investors in Initial Public Offerings

PCC Adjusts the Merger Notification Thresholds

ERC sets Installed Generating Capacity and Market Share Limitation per Grid and National Grid for 2024

BIR Clarifies the Repeal of Section 6 of the NIRC through RMC No. 60-2024

DOE Releases Amendments on the Guidelines for Non-Feed-In Tariff Eligible Renewable Energy Technologies in the Green Energy Auction Program

PEZA Clarifies Applicability of Provisions of Republic Act No. 11898 or the Extended Producer Responsibility Act of 2022

DOLE Labor Advisory No. 03-2024: 2023 Annual Establishment Report on Wages

SEC Updates Fines and Penalties on Late and Non-Submission of Audited Financial Statements, General Information Sheet, and Non-Compliance with MC 28