DAVAO CITY -- The Securities and Exchange Commission (SEC) Davao Extension Office is calling on corporations and partnerships to take advantage of the ongoing amnesty program for late and non-filing of annual financial statements (AFS), general information sheets (GIS), and Non-Compliance with Memorandum Circular No. 28, Series of 2020 (MC 28).

On April 25, 2023, the SEC issued Memorandum Circular No. 6, Series of 2023, which extends the application deadline for amnesty to June 30 and provides applicants with an extended period of 90 days to submit the amnesty requirements.

“We are urging non-compliant corporations and partnerships, and those whose certificates of registration have been suspended or revoked to take advantage of this opportunity to avoid further penalties and contribute to a thriving corporate sector in the region,” SEC Davao Extension Office Director Atty. Katrina Ponco-Estares said.

The SEC Davao Extension Office is available to assist corporations in the amnesty application process and encourages interested parties to contact them for assistance at 0932-973-8791 or email at secdavao@gmail.com.

After the extended deadline on June 30, an updated scale of fines and penalties for the covered reportorial requirements shall be implemented. (Leslie Lao-Francisco / SEC Davao Extension Office)