TARLAC CITY, Tarlac (May 7, 2023) — The Securities and Exchange Commission (SEC) has extended the deadline for filing corporate reports to June 30, 2023.
Applications for amnesty for late and non-filing of annual financial statements (AFS), general information sheets (GIS), and official email addresses and mobile phone numbers.
The extension effort of the Commission is to encourage its supervised entities to comply with their reportorial requirements under Republic Act No. 11232 or the Revised Corporation Code of the Philippines. A number of companies also expressed interest in availing of the amnesty program.
The amnesty program is for non-compliant corporations, as well as those whose certificates of registration have been suspended or revoked, for their failure to submit their AFS and GIS on time in the middle of March through SEC Memorandum Circular No. 2, Series of 2023.
After the extended deadline of June 30, an updated scale of fines and penalties for the covered reportorial requirements shall be implemented.