Guidelines on Compliance by Foreign Corporations with Reportorial and Monitoring Requirements, Securities and Exchange Commission Memorandum Circular No. 15, Series of 2006 (Philippines)

Branch offices and representative offices of foreign corporations licensed to do business in the Philippines, as well as all regional operating headquarters and regional headquarters of multinational companies established in the Philippines, must submit a General Information Sheet and Financial Statement to the Securities and Exchange Commission and Bureau of Internal Revenue within the timeframe provided in the Circular. Failure to do so would result in penalties in the form of fines and repeated violations would warrant the revocation of the companies' certificate of registration or license, as applicable.