Source: https://sec.gov.ph
On July 31, SEC and BIR signed a Memorandum of Understanding (MOU) to strengthen institutional coordination, streamline compliance, and improve public services. The partnership focuses on harmonizing policies and enhancing information governance, given both agencies’ shared reliance on corporate data.
A key planned initiative is the Unified Audited Financial Statements (AFS) Submission Portal, to be formally established through a separate Memorandum of Agreement. Once active, this single-entry portal will allow corporations to submit their AFS once and securely transmit the documents to both the SEC and the BIR. This system aims to eliminate redundant filings, ensure consistent financial records, increase agency efficiency, and support national “ease of doing business” goals.
The SEC noted that this collaboration supports capital market developments, including the May 15-approved 2026 Revised Guidelines for MSLAs and Accession Agreements.
During the ceremony, held as part of the BIR’s 122nd Anniversary celebration, leaders from both agencies emphasized the importance of unified governance:
SEC Commissioner McJill Bryant T. Fernandez noted that effective regulation requires a coordinated, whole-of-government approach. He stated that aligning agency efforts reduces regulatory friction, enhances transparency, and fosters an environment that drives economic growth and investment.
BIR Commissioner Charlito Martin R. Mendoza reaffirmed that the partnership will make compliance easier for SEC-registered corporations by simplifying filing workflows and eliminating duplicated tasks.
SEC’s Romuald Padilla and Oliver Chato attended the signing with BIR Deputy Commissioners Larry Barcelo, Vener Baquiran, Marissa Cabreros, and Teresita Angeles.
Below is the Press Release of SEC dated August 7, 2026
