Year-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.