2017 Year-end Reminders and 2018 Startup Compliance Checklist for Businesses in the Philippines

The table below is a simple reminder or schedule of what business establishments need to accomplish for ending the year 2017 and starting anew for 2018. 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.

Duration or Due Date	Description	Regulatory Agency
On or before Dec. 24, 2017	Release of employees’ 13th month pay (PD 851)	DOLE
Dec. 1, 2017 until the last working day of December 2017	Registration of manual books of accounts for those who uses Simplified Bookkeeping and those who does not write anything in the books of accounts. (RMC 82-2008)	BIR
Jan. 1, 2018 to Jan. 15, 2018	Registration of the loose-leaf bound books of accounts (RMC 82-2008)	BIR
Until Jan. 15, 2018	Report of compliance with PD 851 – Alphalist of 13^th Month Pay as prescribed by DOLE Advisory 03-2010	DOLE
Jan. 20, 2018	Application for Renewal of business permits for 2017 (Deadlines may vary depending on the Local Government Unit)	LGU
Jan. 1, 2018 until Jan. 25, 2018	Release of employees’ tax refunds for 2017 and distribution of their respective 2316 (RR 10-2008)	BIR; DOLE
January 1 until Jan. 30, 2018	Inventory list as of December 31, 2017 (RMC 57-2015)	BIR
Jan. 31, 2018	Lessee information sheet (RR 12-2011)	BIR
Jan. 31, 2018	Submission of books generated from the taxpayer’s computerized accounting system (CAS)	BIR
Until Jan. 31, 2018	Filing of the employee alphalist through BIR form 1604CF	BIR
January 1 to Jan. 31, 2018	Payment of BIR annual registration fees (ARF)	BIR
January 1 to January 31, 2018	Professional tax receipt (PTR) for 2018	LGU
January 1, 2015 to February 28, 2018	Securing community tax certificate or cedula without a penalty	LGU
January 1, 2015 to Feb. 28, 2018	Submission of 2316 duly signed by employees who are covered under the substituted filing	BIR
On or before Mar. 01, 2018	Filing and submission of the 2017 annual alphalist of payees through BIR Form 1604E	BIR
On or before Apr. 15, 2018	Filing and submission of the 2017 annual income tax return for individuals and non-individual taxpayers whose account period ends at December 31, 2016	BIR
On or before Apr. 15, 2018	Filing and submission of the annual audited financial statements before complying to the SEC number coding scheme	SEC

Greg Aquino

Greg V. Aquino is a Certified Public Accountant engaged in Public Practice since the year 2010. He is the managing partner of Clemente Aquino & Co., CPAs since the year 2013. Sector experience includes food & franchise company; real estate; distributorship; gasoline dealership; PEZA companies; BPOs; and non-profit organizations. He can handle individual tax planning; corporate tax planning; estate planning; transfers of real and personal properties; setup of a corporation, partnership, one-person corporation, and sole proprietorships; local government taxation; corporate housekeeping; resident agent services; corporate secretariat; fs preparation or compilation; fs reconstruction; fs audit; internal audit; and others.

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