The Philippine Securities and Exchange Commission reported that three corporate sector reform circulars issued since July have delivered PHP 80.3 million in discounts across 40,157 transactions as of 19 October, with PHP 40.9 million of the savings accruing to micro, small and medium enterprises (MSMEs). The circulars are intended to encourage MSME incorporation and streamline processes for companies accessing the capital market. SEC Memorandum Circular No. 6, Series of 2025, effective 1 July, introduced a 50% discount on physical and authenticated copies of company filings and reduced rates for related documents and certain information technology services, generating more than PHP 36.5 million in discounts. SEC Memorandum Circular No. 8, released 16 July, provided discounted filing fees for MSMEs, supporting 8,506 MSMEs registering as corporations (PHP 21.4 million in discounts) and over 200 MSMEs applying to increase authorised capital stock (more than PHP 19.4 million in savings). SEC Memorandum Circular No. 9 granted a 30% discount on assessed registration fees for all registration statement applications until 31 December 2025, contributing around PHP 3 million in discounts for companies tapping the capital market.
Philippine Securities and Exchange Commission 2025-10-28
Philippine Securities and Exchange Commission reports PHP 80.3 million in fee discounts for MSMEs and other corporations under 2025 reforms
The Philippine Securities and Exchange Commission announced that three corporate sector reform circulars have resulted in PHP 80.3 million in discounts across 40,157 transactions since July, with PHP 40.9 million benefiting micro, small, and medium enterprises (MSMEs). These circulars aim to promote MSME incorporation and streamline capital market access. Key measures include a 50% discount on company filings and related services, discounted filing fees for MSMEs, and a 30% discount on registration fees for capital market access.