SEC Extends Deadline for Submission of 2020 Annual Report in the Philippines
The Securities and Exchange Commission (SEC) has extended the deadline for submission of 2020 Annual Reports for the Calendar Year (CY) ending December 31, 2020. The Commission, on April 6, considered the difficulties of businesses in preparing and finalizing their Audited Financial Statements (AFS) and statutory audits due to the recently-implemented Enhanced Community Quarantine (ECQ).
Under SEC Memorandum Circular (MC) No. 05, s. 2021, the new submission deadline of 2020 Annual Report (AR) is as follows: