The table below is a simple reminder or schedule of what business establishments need to accomplish for ending the year 2015 and starting anew for 2016. We shall update the legal basis for each item included in the list very soon. In cases where we missed some items, please feel free to contact us. We hope that we provide you little insight about your compliance.

Due Date

Description

Regulatory Agency

Dec. 24, 2015

Release of employees’ 13th month pay

DOLE

Dec. 31, 2015

Registration of manual books of accounts

BIR

Jan. 15, 2016

Registration of the loose-leaf bound books of accounts

BIR

Jan. 15, 2016

Report of compliance with PD 851 – Alphalist of 13th Month Pay as prescribed by DOLE Advisory 03-2010

DOLE

Jan. 20, 2016

Renewal of business permits for 2016

LGU

Jan. 25, 2016

Release of employees’ tax refunds for 2015 and distribution of their respective 2316

BIR; DOLE

Jan. 30, 2016

Inventory list as of December 31, 2015

BIR

Jan. 31, 2016

Lessee information sheet

BIR

Jan. 31, 2016

Submission of books generated from the taxpayer’s computerized accounting system (CAS)

BIR

Jan. 31, 2016

Filing of the employee alphalist through BIR form 1604CF

BIR

Jan. 31, 2016

Payment of BIR annual registration fees (ARF)

BIR

Jan. 31, 2016

Professional tax receipt (PTR) for 2016

LGU

Feb. 28, 2016

Securing community tax certificate or cedula without a penalty

LGU

Feb. 28, 2016

Submission of 2316 duly signed by employees who are covered under the substituted filing

BIR

Mar. 01, 2016

Filing and submission of the 2015 annual alphalist of payees through BIR Form 1604E

BIR

Apr. 15, 2016

Filing and submission of the 2015 annual income tax return for individuals and non-individual taxpayers whose account period ends at December 31, 2015

BIR

Apr. 15, 2016

Filing and submission of the annual audited financial statements before complying to the SEC number coding scheme

SEC

yearend_thumb1Beating the deadlines is important. If you missed one of mandatory requirements that you need to complete, then fund your pockets for additional cash because you will have to pay more than what you should. You do not plan to fail, you only fail to plan. And one last thing as we always quote: “Compliance is costly. Noncompliance is luxury.”

Disclaimer: The schedule of deadlines presented in this article is not complete and may not cover specific industries with special reporting requirements to other regulatory agencies. Some items is not also applicable to some companies. We advise that you do your own diligence in completing all your reportorial requirements.

Share
+1
Share
Stumble
Tweet
Pin
%d bloggers like this: