Tuesday, May 02, 2006
Tax notes: SEC extends deadline for FS filing
The Securities and Exchange Commission (SEC) has extended the deadline for the submission of the audited financial statements for the year ended Dec. 31, 2005 from April 17, 2006 to May 2, 2006.
The extension was granted to provide companies more time to prepare their financial statements in accordance with Philippine Financial Reporting Standards, which are being applied for the first time in the 2005 financial statements.
The extension covers public companies, issuers of registered/unlisted securities and companies listed with the Philippine Stock Exchange (PSE), brokers and dealers and investment houses.
The due dates for the submission of audited financial statements for all other companies shall remain the same, which is also on May 2, 2006.
On April 4, 2006, the PSE has likewise extended the submission of SEC Form 17-A for the year ended Dec. 31, 2005, from April 17, 2006 to May 2, 2006. (Source: Punongbayan & Araullo)
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