Tax Alert
10 Jan 2020Year-end tax compliance and other reportorial reminders
This Tax Alert is issued to remind all concerned on the year-end tax compliance requirements, as follows:
Compliance requirements for the calendar year (CY) ended December 31, 2019:
|
Compliance Requirement |
Deadline |
Concerned Agency/Recipient |
|
a. Bound, Loose-leaf books of accounts and other accounting records for CY 2019 |
January 15, 2020 |
Bureau of Internal Revenue (BIR) |
|
b. Computerized books of accounts and Affidavit on Post Reporting Requirements for Computerized Accounting System (CAS) in lieu of Hardbound Computer Generated Books of Accounts |
January 30, 2020 |
BIR |
|
c. Inventory List |
January 30, 2020 |
BIR |
|
d. BIR Form No. 1604-C (Annual Information Return of Income Taxes Withheld on Compensation), together with the Annual Alphalist of Employees |
February 28, 20201 |
BIR |
|
e. BIR Form No. 1604-F (Annual Information Return of Final Withholding Taxes), together with the Annual Alphalist of Payees |
February 28, 20201 |
BIR |
|
f. BIR Form 2316 (Certificates of Compensation Payment/Tax Withheld) |
January 31, 2020 |
Employees |
|
g. BIR Form 2304 (Certificate of Income Payment Not Subject to Withholding Tax) and BIR Form 2306 (Certificate of Final Tax Withheld at Source) |
January 31, 2020 |
Suppliers |
|
h. Sworn declaration of income payors/withholding agents stating the number of payees (professionals) who have submitted sworn declarations of gross income with copies of Certificates Of Registration |
January 31, 2020 |
BIR |
|
i. BIR Form 2316 of employees qualified for substituted filing, together with the Certified List of Employees Qualified for Substituted Filing of Income Tax Return |
February 28, 2020 |
BIR |
|
j. Refund of excess taxes withheld on compensation of employees |
January 25, 2020 |
Employees |
|
k. BIR Form No. 1604-E (Annual Information Return of Creditable Withholding Taxes (Expanded)/Income Payments Exempt from Withholding Tax), together with the Annual Alphalist of Payees |
March 01, 2020 |
BIR |
|
l. Filing and payment of Annual Income Tax Return (BIR Form No. 1702-RT/EX/MX)
(together with required attachments for manual filers) |
April 15, 2020 |
BIR |
|
m. Audited Financial Statement (AFS), together with other required attachments
(Note: Certificate of Incentives should be attached by PEZA/BOI-registered enterprises) |
April 30, 2020 (for EFPS filers) |
BIR |
|
n. Audited Financial Statement (AFS), together with the duly received BIR Form 1702 by BIR |
Depends on the last digit of the company’s SEC Registration License Number2 |
SEC |
|
o. BIR received AFS and Annual ITR, together with required attachments of Philippine Economic Zone Authority (PEZA)-registered enterprises |
May 15, 2020 (30 days after filing with BIR) |
PEZA |
|
p. BIR Form No. 1700 (Annual Income Tax Return for Individuals Earning Purely Compensation Income (Including Non-Business/Non-Profession Income)) |
April 15, 2020 |
BIR |
|
q. BIR Form No. 1701 (Annual Income Tax Return For Individuals (including MIXED Income Earner), Estates and Trusts) |
April 15, 2020 |
BIR |
|
r. Annual Tax Incentives Report (Annex A.2) – VAT, Excise Tax And Duty-based Incentives of PEZA-registered enterprises |
March 15, 2020 |
PEZA |
|
s. Annual Tax Incentives Report (Annex A.1) – Income tax-based Incentives of PEZA-registered enterprises |
May 15, 2020 |
PEZA |
|
t. Other Relevant Data or Information (Benefits) of PEZA-registered enterprises |
July 14, 2020 |
PEZA |
|
u. Board of Investments (BOI) Form S-1, together with BIR received AFS and Annual ITR for BOI-registered enterprises |
April 30, 2020 |
BOI |
Renewal of business registration for CY 2020:
|
a. Renewal of Business Permit with the Local Government Unit (LGU) |
January 20, 2020 |
LGU |
|
b. Renewal of Registration with the BIR (BIR Form No. 0605) |
January 31, 2020 |
BIR |
Note:
1Pursuant to Revenue Memorandum Circular (RMC) No. 124-2019, the deadline for submission of BIR Forms No. 1604-C and 1604-F and the related alphalist of employees and payees was extended from January 31, 2020 to February 28, 2020 for CY 2019 only.
2SEC normally issues a memorandum circular on the schedule of filing of AFS.