Annual Compliance Checklist for Businesses in the Philippines

Annual Compliance Checklist for Businesses in the Philippines

Taxes| Accounting| Licensing
September 11, 2025•2 min read

Published Date: September 11, 2025

Published By: Jac Cantos, Upcloud Accounting

Bureau of Internal Revenue (BIR) 

  • Pay Annual Registration Fee (BIR Form 0605) by January 31 (PHP 500 fee). 

  • File Annual Income Tax Return (BIR Form 1701/1702) and submit Audited Financial Statements by April 15. 

  • Issue and file BIR Form 2316 (Certificate of Compensation Payment/Tax Withheld) to employees by January 31 and file copies with BIR by February 28. 

  • Submit Annual Information Returns (BIR Forms 1604-C, 1604-E, 1604-F) with Alpha List of Employees as applicable. 

  • Register and submit Books of Accounts: 

  • Manual books: Present when audited. 

  • Loose-leaf books: Submit bounded books by January 15. 

  • Computerized books: Submit via optical media by January 30. 

  • File Quarterly VAT Returns (BIR Form 2550Q) and other withholding tax returns as required. 

  • Submit Summary Lists of Suppliers and Tenants at prescribed intervals. 

Securities and Exchange Commission (SEC) 

  • Hold Annual Stockholders’ and Board of Directors’ meetings as per the company's by-laws. 

  • Submit General Information Sheet (GIS) annually updating company directors, officers, shareholders, etc. 

  • File Audited Financial Statements stamped by BIR by April 15. 

  • Maintain and update Stock and Transfer Book. 

  • Keep and maintain Minutes of Meetings of stockholders and board of directors. 

Local Government Unit (LGU) 

  • Renew Business Permit (Mayor’s/Barangay Permit) annually before the current permit expires. 

  • Submit required documents like previous year’s financial statements, tax filings, list of employees, lease agreements, sanitary permits, etc. 

  • Pay local business taxes and fees based on gross sales/revenue. 

Social Security System (SSS) 

  • File Annual Return of Contributions for all covered employees. 

  • Deposit required monthly contributions for employees and employer share. 

Philippine Health Insurance Corporation (PhilHealth) 

  • File annual reconciliation of premiums paid for all employees. 

  • Ensure updated membership and contribution compliance. 

Home Development Mutual Fund (Pag-IBIG Fund) 

  • File annual reconciliation report of employee contributions. 

  • Pay employer and employee shares for contributions. 

Other Annual Requirements 

  • Maintain valid Sanitary and Fire Safety Certificates. 

  • Renew Occupancy and Zoning Clearances if applicable. 

  • Comply with relevant environmental and industry-specific regulations. 

  • Submit reports or fees required by any other government agencies relevant to the business sector. 

Upcloud Accounting: Virtual Outsourced Accounting and Bookkeeping Services in the Philippines

Upcloud Accounting offers accounting, bookkeeping, tax compliance, and business licensing services specializing with startups and SMEs in the Philippines.

Our goal is to increase efficiency, automation, and transparency across the accounting and finance functions of our clients with our cutting-edge technology. If you want to move your company’s finance function online, contact our Team of Expert Accountants and Bookkeepers directly via [email protected] or visit www.upcloudaccounting.com to learn more about how Upcloud Accounting accounting services can support your PH business!

Disclaimer: This article or blog is only for general knowledge and guidance and is not a substitute for an expert opinion. For technical advice, please consult your tax / legal advisor for your specific business concerns. For comments, suggestions, and feedback, feel free to email us at [email protected].

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