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Pursuant to the approval of the Board of Trustees on its 2023-01 Regular Board Meeting held on 16 February 2023 regarding the Implementation of Increase in the Membership Savings in a Single Tranche or an Increase in the Maximum Fund Salary (MFS) in the year 2024, and the approval of the Senior Management Committee (SMC) held on 13 June 2023 on the Guidelines on the Pag-IBIG Fund's Implementation of Increase in the Monthly Membership Savings for 2024, the Guidelines on the Pag-IBIG Fund's Implementation of Increase in the Maximum Fund Salary (MFS) Effective February 2024 is hereby issued: "Fund Salary" shall refer to the basic salary and other allowances, where basic salary includes, but is not limited to, fees, salaries, wages, and similar items received in a month. It shall mean the remuneration or earnings, however designated, capable of being expressed in terms of money, whether fixed or ascertained on a time, task, or piece or commission basis, or other method of calculating the same, which is payable by an employer to an employee or by one person to another under a written or unwritten contract of employment for work done or to be done, or for services rendered or to be rendered. The maximum fund salary to be used in computing the employee and employer savings has been increased from Five Thousand Pesos (P5,OOO.OO) to Ten Thousand Pesos (P10,OOO)taking into consideration financial calculations and rates of benefits in accordance with Section 7 of Republic Act No. 9679. Employers shall remit two percent (2%) of the monthly Fund Salary ofthe contributing member as counterpart contribution. The employer is not entitled to deduct from the wages or remuneration of or, otherwise, to recover from the employee the employer's contribution. Source: https://www.pagibigfund.gov.ph/document/pdf/circulars/provident/Circular%20No.%20460%20-%20Guidelines%20on%20the%20Pag-IBIG%20Fund's%20Implementation%20of%20Increase%20in%20the%20MFS%20Effective%20February%202024.pdf

The Securities and Exchange Commission (SEC) suspends the certificates of incorporation of 117,885 corporations, which names are enumerated in this link: bit.ly/Suspended2024, due to non-filing of reportorial requirements for more than 5 years. The Corporations are hereby given a period of 30 days from the date of publication of this Order to avail of the existing remedies pursuant to the laws, rules and regulations implemented by the Commission. A copy of the Suspension Order is posted at https://www.sec.gov.ph/.../suspension-of-corporations.../... Source: chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.sec.gov.ph/wp-content/uploads/2024/02/2024OrderSuspension_Corporations_Due_to_Non-filing_of_Reportorial_Requirementsmore_than_5_Years.pdf

A. INSPECTION PROCESS Fire safety inspections should be conducted as a pre-requisite to grants of permits and/or licenses by local governments or other government agencies (Section 7a). Inspections should be done at least once a year and every time the owner, administrator or occupant shall renew his/her business permit or permit to operate (Sec. 5, (g)) Building plan review Building owners/occupants are required to submit 6 sets of building plans and other pertinent documents to the City/Municipal Fire Marshal  (Sec. 9.0.2.1 a) Upon assessment, buildings owners/occupants will be asked to pay Fire Code fees (Sec. 9.0.2.1 a) Submit the Fire and Life Safety Assessment Report 1 (FALAR) City/Municipal Fire Marshal will either approve or disapprove the evaluated plans together with the Fire Safety Checklist  (FSC) and the approved/disapproved Fire Safety Evaluation Clearance (FSEC) Inspection during construction Inspection after completion of construction Submit the Fire and Life Safety Assessment Report 2 (FALAR) Business and routine inspection Submit the Fire and Life Safety Assessment Report 3 (FALAR) If the building premises comply with the fire safety requirements and fire protective and/or warning systems such as fire sprinkler systems, automatic extinguishing systems, and fire alarms are properly installed, the City/Municipal Fire Marshal will issue the Fire Safety Inspection Certificate (FSIC) No occupancy permit, business or permit to operate shall be issued without securing a Fire Safety Inspection Certification (FSIC) from the BFP Chief or his/her duly authorized representative (Sec. 5, (g)) B. REQUIRED PAPERS/PERMITS Fire and Life Safety Assessment Report (FALAR) 1: Documentation on Fire and Life-Safety Features of the Facility – prepared by the Architect and his Fire Protection Consultant Compilation of Plans/Specifications and design analysis Fire and Life Safety Assessment Report (FALAR) 2: Documentations submitted by the Contractor/s and the Construction Manager certifying that the construction was in accordance with the FALAR 1 and authorized changes Fire and Life Safety Assessment Report (FALAR) 3: Documentation on the required periodic maintenance of the fire and life-safety features of the facility – prepared by the building owner, his fire safety officer/authorized representative Fire Insurance Data All persons having fire insurance coverage on their properties and/or business shall submit a certified true copy of all coverages currently in effect, including subsequent and/or additional policies to the City/Municipal Fire Marshal having jurisdiction not later than ten (10) days after receipt of the document from any insurance company. Exempted from this requirement are owners of detached, single- or two-family dwellings actually being used for residential occupancy. Fire Safety Inspection Certificate (FSIC) – pre-requisite for issuance of Business or Mayor’s permit, Permit to Operate, Occupancy Permit, PHILHEALTH Accreditation for Hospitals, DOH License to Operate and other permits or licenses Building Permit Occupancy Permit C. FIRE SAFETY MEASURES Every building or structure shall be provided with sufficient exits to permit the fast and safe escape. (Rule 10.2.2.A) Every exit of structures shall be designed and maintained to provide free and unobstructed escape. (Rule 10.2.2.D) No lock or fastening device that would prevent escape from the inside of any building shall be installed except in mental, penal, or correctional institutions where personnel are continually on duty. Every exit shall be clearly visible. (Rule 10.2.2.E) Each escape route, in its entirety, shall be arranged or marked that the way to safety is unmistakable. (Rule 10.2.2.E) Passage constituting a way to reach an exit shall be marked to minimize confusion. Any doorway not consulting to an exit shall be marked to minimize possible confusion. All passageways of exit shall be provided with adequate and reliable light. (Rule 10.2.2.F) Fire alarm systems shall be provided in every structure depending on size, arrangement, and occupancyto provide adequate warning to occupants. (Rule 10.2.2.G) There should be various exit options in case any one safeguard is ineffective. (Rule 10.2.2.A) Every structure depending on size, arrangement, and occupancy,shall have at least two means of escape remote from each other in order to minimize any possibility that both may be blocked by fire or other emergency conditions. (Rule 10.2.2.H) Every vertical way of exit shall be enclosed or protected to afford safety of occupants while using these exits and to prevent spread of fire, smoke, or fumed through these. (Rule 10.2.2.I) Occupants of structures must organize themselves and determine and implement a fire safety plan– a means to prevent fire in the premises, notify the BFP in case of fire, initial fire fighting, and evacuation of persons. (Rule 10.2.2.J) The building owner shall take the initiative to formulate a fire safety plan and organize the occupants to implement it. In buildings leased by several persons or companies, the management of each company shall be responsible for fire safety measures within the occupied areas. The building owner shall be responsible for the common areas. For building under construction: No building under construction shall be occupied in whole or in part until all exit requirements are completed, inspected and approved for occupancy. (Rule 10.2.2.L.1) Existing buildings may be occupied during renovation provided that all existing fire protection systems are maintained. (Rule 10.2.2.J.2) Flammable or explosive substances necessary for renovation may be introduced while the building is occupied provided that the use will not impair the use of escape routes. Adequate escape facilities shall be maintained at all time in buildings under construction for the use of construction workers. (Rule 10.2.2.J.1) D. FUNCTIONS OF OTHER GOVT AGENCIES PNP (Section 7.0.1.2, IRR Fire Code of 2008) PNP will assist BFP during actual fire fighting operations and fire scene investigations Business closure and summary abatement proceedings Installation of signs that the building/structure is a fire hazard and/or fire trap Obstruction of designated fire lanes and fire hydrants Apprehension of violators/persons removing, destroying, tampering or obliterating warning sign Other necessary police assistance LGUs (Section 7.0.1.2, IRR Fire Code of 2008) LGUs should refrain from issuing licenses and/or permits without the applicant first securing an FSIC from the BFP Organization and training of fire drills in all barangays Closure and/or stoppage of operation of buildings/structures or portions Cooperation w/ other Agencies: NBI National and Local Waterworks Electric Companies and Cooperatives DOTC DepEd CHED DTI TESDA DENR Source: Republic Act No. 9514: The Fire Code of the Philippines 2008 The IRR of the Fire Code of the Philippines 2008

Registering with the Food and Drug Administration (FDA) is required for various reasons, particularly for businesses involved in the manufacturing, processing, packing, or holding of food, drugs, medical devices, cosmetics, and certain other products. Here are some key reasons why registration with the FDA is necessary: 1. Regulatory Compliance: Registering with the FDA ensures that businesses comply with regulatory requirements set forth by the agency. This helps maintain product safety and quality standards. 2. Safety Monitoring: Registration allows the FDA to monitor and track products to ensure they meet safety and efficacy standards. It enables the agency to identify and respond to potential risks or issues related to products under its jurisdiction. 3. Product Recall and Withdrawal: In the event of a product recall or withdrawal, registration information helps the FDA quickly identify and locate affected products, minimizing potential harm to consumers. 4. Inspection and Enforcement: FDA registration is often a prerequisite for inspections conducted by the agency to assess compliance with regulatory standards. Failure to register or comply with FDA regulations may result in enforcement actions, such as warning letters, fines, or product seizures. 5. Public Health Protection: Registration contributes to the overall protection of public health by ensuring that products meet established safety and quality standards, thereby reducing the risk of harm or adverse effects to consumers. 6. Facilitation of Import and Export: FDA registration is often required for businesses involved in the import and export of regulated products. Registration facilitates the smooth flow of goods across borders by providing necessary information to regulatory authorities. Overall, FDA registration plays a crucial role in safeguarding public health, ensuring regulatory compliance, and maintaining the integrity of the products within the agency's jurisdiction. For Assistance in your FDA compliance our team can assist you. Just email us at hkconsultinginc30@gmail.com

Income Tax is a tax on a person's income, emoluments, profits arising from property, practice of profession, conduct of trade or business or on the pertinent items of gross income specified in the Tax Code of 1997 (Tax Code), as amended, less the deductions if any, authorized for such types of income, by the Tax Code, as amended, or other special laws. Here's the several reasons why filing your Annual Income Tax 2024 is very important. 1. Avoiding Penalties: Late filing can result in surcharge, interest charges and compromise, increasing the amount you owe to the government. 2. Meeting Legal Requirements: Filing on time ensures compliance with tax laws and regulations, avoiding potential legal issues or audits. 3. Access to Financial Services: Timely filing may be required for various financial transactions, such as applying for loans or mortgages SEC compliance and other governments, where proof of tax compliance is necessary. 5. Avoiding Last-Minute Stress: Filing early reduces the stress associated with rushing to meet deadlines and allows ample time to gather necessary documents and information. 6. Opportunity for Tax Planning: Filing early provides more time for tax planning strategies, such as maximizing deductions and credits, which can potentially lower your tax liability. Overall, filing annual income tax returns on time is essential for financial health, compliance with regulations, and peace of mind over your business. Deadline of filing is on or before April 15, 2024. For assistance in filing your personal income, business either sole proprietorship, corporation, partnership, cooperative you may contact us at hkconsultinginc30@gmail.com References: https://www.bir.gov.ph/index.php/penalties.html https://www.bir.gov.ph/index.php/tax-information/income-tax.html

ANNUAL FINANCIAL STATEMENTS All corporations, including branch offices, representative offices, regional headquarters and regional operating headquarters of foreign corporations, whose fiscal years ended on 31 December 2023; shall file their AFS through the SEC Electronic Filing and Submission Tool (eFAST). The deadlines for filing of the AFS shall be in accordance with the following schedule, depending on the last numerical digit of their SEC registration or license numbers: (a) Those whose fiscal years end on a date other than 31 December 2023. These entities shall file their AFS within 120 calendar days from the end of their respective fiscal years. For more information and details click this link: https://www.sec.gov.ph/mc-2024/sec-mc-no-02-series-of-2024-2024-filing-of-annual-financial-statements-and-general-information-sheet/#gsc.tab=0

1. Execute a "DEED OF ABSOLUTE SALE" from the seller of the property and have the document notarized. Note: Capital Gains Tax must be paid at the Bureau of Internal Revenue (BIR) within 60 days starting on the date when the Deed of Absolute Sale was notarized or pay a substantial penalty. (TIP: If you think you won't be able to pay the Capital Gains Tax within the time period, delay notarizing the deed.) 2. Go to office of Bureau of Internal Revenue where the property is located. Have the following documents: Original Deed of Absolute Sale Original Transfer Certificate of Title Certified True Copy of TCT from Registry of Deeds and Official Receipt/ Acknowledgment Receipt Certified True Copy of the latest Tax Declaration Tax Identification Number (TIN) of seller (BIR Form No. 1904) Photocopy of seller's government issued ID e.g. Passport Tax Identification Number (TIN) of buyer (BIR Form No. 1904) Photocopy of buyer's government issued ID e.g. Driver's License 3. Pay the Capital Gains Tax -6% of the selling price or zonal value (BIR Form No. 1706) 4. Pay Documentary Stamp Tax -1.5% of the selling price (BIR Form No. 2000-OT) 5. Get CERTIFICATE AUTHORIZING REGISTRATION (CAR) after about a month. 6. Go to the Registry of Deeds where the property is located (Usually located at the Municipal or City Hall). Have the following documents: Notarized letter to the Register of Deeds requesting a new TCT be issued Certificate Authorizing Registration (CAR) Original Transfer Certificate of Title Original Deed of Absolute Sale Original Transfer Tax Receipt from Assessor's Office Municipal Hall Original Tax Clearance Certificate from Municipal Hall Original Capital Gains Tax (BIR Form No. 1706), Original Documentary Stamp Tax (BIR Form No. 2000- OT) with receipts Tax Declaration of Real Property 7. Pay the REGISTRATION FEE at the Registry of Deeds. 8. Get TRANSFER CERTIFICATE of TITLE (TCT) after about 1-2 weeks. 9. Go to the Assessor's Office to get New TAX DECLARATION. Have the following documents: Certified True Copy of TCT & show Original TCT Certified True Copy of Certificate Authorizing Registration Certified True Copy of Deed of Absolute Sale Certified True Copy of latest Tax Declaration (in the name of the previous owner) 10. Get new Tax Declaration under the name of the new registered owner. HKCASI

Grant of Amnesty (SEC MC No. 02, series of 2023) Grant of Amnesty for Non-Filing and Late Filing of General Information Sheet (GIS) and Annual Financial Statement (AFS) and Non-Compliance with MC No. 28, s. 2020 Here's the following requirements: https://www.sec.gov.ph/forms-and-fees/miscellaneous-applications/#gsc.tab=0 Youtube: https://youtu.be/KJZvoYXms_Q

Issued on May 10, 2023 clarifies the guidelines for optional filing and payment of monthly Value-Added Tax (VAT) Returns (BIR Form No. 2550M) for VAT-registered persons. While the Tax Code now mandates the filing of VAT returns and payment of the corresponding VAT liabilities on a quarterly basis, VAT-registered persons may continue to file and pay the VAT on a monthly basis and still use BIR Form No. 2550M. The procedures and guidelines set forth in Revenue Regulations Nos. 16-2005 and 6-2014, Revenue Memorandum Circular No. 68-2005 and other related revenue issuances, regarding the use of BIR Form No. 2550M shall continue to apply. If the VAT-registered person opts to switch from filing the VAT return and paying tax on a monthly basis using BIR Form No. 2550M to quarterly filing using BIR Form No. 2550Q, or vice versa, no penalties shall arise. However, the filing of BIR Form No. 2550Q and payment of VAT must be made within the period provided under the Tax Code, which is within twentyfive (25) days following the close of each taxable quarter. As to the monthly filing of BIR Form No. 2550M, there shall be no prescribed deadline thereof. Link:https://www.bir.gov.ph/images/bir_files/internal_communications_2/RMCs/2023%20RMC%20Digest/RMC%20No.%2052-2023.pdf

These are the documents that are needed before you can renewa your business in local governement units. Required Documents BIR FORM 2551Q Quarterly Percentage Tax Return Financial Statement Special Power of Attorney/Secretary's Certificate/Board Resolution Government IDs for Owners and Authorized Representative Certification Fire Safety Inspection Certificate (FSIC) Previous Mayor's Permit Barangay Certification (if blocked) Certified List of Employee For online business renewal you can have access to this link: https://appbts.davaocity.gov.ph/ For assistance to get early and pay on time email us at hkconsultinginc30@gmail.com

The Bureau of Internal Revenue (BIR) carried out its plan to subject partner merchants or sellers in online platforms to the withholding tax system. As early as July, the BIR had floated the possibility of imposing a creditable withholding tax of 1% on one-half of the gross remittances of online platform providers to their partner sellers or merchants. In November, BIR Commissioner Romeo Lumagui Jr. said the plan was in its final stages and would be implemented in December after a series of consultations with the public, online platforms, and other stakeholders. Formalizing the imposition of a 1% withholding tax on the sales made by sellers on online platforms or digital marketplaces, the taxman issued, on December 21, 2023, Revenue Regulations No. 16-2023. The RR No. 16-2023 was signed by Lumagui and Finance Secretary Benjamin Diokno. Under the latest BIR regulation, one-half of the gross remittances of e-marketplace operations and digital financial services providers to the sellers or merchants for goods or services paid through their platform shall be subject to a 1% creditable withholding tax. The withholding tax is the amount withheld by a business in payments of goods or services directly remitted to the government on behalf of suppliers or employees. The BIR, however, said the 1% withholding tax shall not be collected “if the annual total gross remittances to an online seller for the past taxable year has not exceeded P500,000” and “if the cumulative gross remittances to an online seller in a taxable year has not yet exceeded P500,000.” The BIR defines “gross remittances” as the total amount received by an e-marketplace operator or digital financial services provider from a buyer or consumer for the goods and services sold by or paid to the seller or merchant through the platform of the e-marketplace operator. The RR No. 16-2023 shall take effect after 15 days following its publication in the Official Gazette or in a newspaper of general circulation. To effectively collect the withholding tax from online sellers, Lumagui earlier said that operators of online platforms or marketplaces should “make sure they (partner-merchants) are registered with the BIR” before they accredit merchants in their platforms. The BIR had argued that with the proliferation of online sales transactions through the facilities of online platform providers, there was a need to take advantage of the opportunity to identify sellers of goods and services who are, therefore, obliged to declare their income resulting from these transactions for tax purposes. Lumagui also reiterated the taxman’s stance, saying that taxing online merchants was aimed at leveling the playing field between traditional brick-and-mortar retailers and those selling on digital platforms or marketplaces. The BIR chief had said that this was not a new tax, and that the BIR was only finding ways to collect taxes from digital transactions. — DVM, GMA Integrated News https://www.gmanetwork.com/news/money/economy/892606/bir-subjects-online-sellers-to-1-withholding-tax/story/