Statement of Management Responsibility and Tax Governance | RT&Co Tax Spotlight

Curated tax perspectives shaping business decisions.

Author: Joel L. Tan-Torres
Publisher: BusinessMirror
Publication Date: March 23, 2026

In this article, Joel L. Tan-Torres revisits the Statement of Management Responsibility (SMR) under Revenue Regulations No. 3-2010 and discusses why it remains relevant in today’s compliance environment. While the SMR originated as part of earlier tax administration reforms, the article points out that current filing guidance under Revenue Memorandum Circular No. 20-2026 continues to include the SMR in the Annual Income Tax Return compliance framework. The article uses this as a basis for a broader point: tax compliance should not be viewed only as a technical filing requirement, but as a matter of senior-management accountability, governance, and organizational discipline.

Why This Matters

For boards, executives, and finance leaders, the article is a useful reminder that tax compliance is closely tied to management oversight, internal controls, and compliance culture. Leadership ownership of tax reporting responsibilities can influence the quality of reporting, readiness for review, and the overall strength of governance within the organization.

Read the Full Article: https://businessmirror.com.ph/2026/03/23/tax-accountability-begins-at-the-top/

Source: BusinessMirror, “Tax Accountability Begins at the Top,” by Joel L. Tan-Torres, March 23, 2026.

Website Disclaimer: This article is shared with permission from the publisher and the author. Copyright in the original article remains with the publisher and/or the author. The views and opinions expressed in the article are solely those of the author and do not necessarily represent the views of RT&Co. RT&Co. provides this reference as part of its thought leadership and market-awareness efforts. This content is for general informational purposes only and should not be construed as legal, tax, or other professional advice.