End-of-Year Compliance Requirements for Businesses in the Philippines (2025 Update)

November 19, 2025

As December approaches, corporations across the Philippines face a cascade of mandatory filings with the Bureau of Internal Revenue, Securities and Exchange Commission, Board of Investments, and Department of Labor and Employment, each carrying strict deadlines that, if missed, trigger penalties ranging from PHP 1,000 to PHP 500,000 plus interest and potential operating restrictions. The 2025 compliance season covers calendar year 2024 activities, with most submissions due between January and June, making early preparation essential in a regulatory environment that processed over 1.2 million corporate returns last year. This updated guide details every primary end-of-year compliance requirement for domestic corporations, branches, and representative offices, providing exact deadlines, required forms, and common pitfalls to ensure uninterrupted operations into the new year.

BIR Annual Tax Compliance Requirements

The Bureau of Internal Revenue imposes the heaviest year-end burden, with eight separate submissions required between January and April 2025, each backed by Revenue Regulations that impose automatic penalties for late or erroneous filings.

Books of Accounts (Bound/Loose-leaf): Submit stamped registration or application for new books by January 15, 2025.
Computerized Books of Accounts & CAS Affidavit: File sworn statement and system demonstration by January 30, 2025.
BIR Form 1604-C (Annual Withholding Tax on Compensation): Submit alphalist and summary by January 31, 2025.
BIR Form 1604-F (Final Withholding Taxes): File consolidated return by January 31, 2025.
BIR Form 2316 (Certificates of Compensation/Tax Withheld): Distribute signed originals to employees by February 28, 2025.
BIR Form 1604-E (Annual Creditable Withholding Taxes): Submit alphalist by March 1, 2025.
BIR Form 1702 (Annual Income Tax Return): File with payment by April 15, 2025.
Audited Financial Statements with Supplementary Schedules: Attached to Form 1702 by April 15, 2025.
Annual Inventory List (for specific industries): Real estate, manufacturing, retail, and construction, to be submitted by January 30, 2025.

Missing the April 15 deadline automatically triggers a 25% surcharge plus 12% annual interest. BIR now requires eAFS submission for all corporations with gross sales above PHP 3 million.

SEC Annual Compliance Requirements

The Securities and Exchange Commission requires three core filings that determine a company’s continued corporate good standing, with deadlines tied to the fiscal year-end or the SEC registration number.

Audited Financial Statements (AFS): Submit according to the last digit of SEC registration (April 15-June 30, 2025 schedule).
General Form for Financial Statements (GFFS): Required for corporations with gross revenue of PHP 5 million and above; due 30 days after AFS.
General Information Sheet (GIS): File within 30 calendar days from the annual stockholders’ meeting date.
Affidavit of Non-Operation (if applicable): Submit with AFS for dormant corporations.
SEC Form 17-A (for publicly listed affiliates): Annual report due April-May 2025.

The SEC imposes penalties ranging from PHP 2,000 to PHP 50,000 for late AFS/GIS submissions, plus 1% monthly interest on unpaid fees. Electronic submission via eSPARC has been mandatory since 2023.

BOI Annual Compliance Requirements for Registered Enterprises

Board of Investments-registered corporations that enjoy fiscal incentives are subject to specific performance reporting, which directly affects their continued entitlement to income tax holidays and duty exemptions.

Annual Export/Production Performance Report: Submit a sworn report by May 30, 2025.
Audited Financial Statements: File by April 30, 2025, for incentive monitoring.
Employment Report: Detail the workforce complement and the ratio of Filipinos to foreigners.
Investment Implementation Report: Confirm capital infusion versus the approved schedule.
Environmental Compliance Certificate Update: Submit the latest ECC or monitoring report.

Failure to meet export or employment thresholds triggers the cancellation of incentives and a tax reassessment with a 20% surcharge.

Labor Law Year-End Obligations Under DOLE

The Department of Labor and Employment enforces one of the most visible year-end requirements that directly affects employee relations and corporate reputation.

13th Month Pay: Full payment on or before December 24, 2024 (1/12 of basic salary for each month worked).
Service Incentive Leave Commutation: Pay unused five-day SIL if not availed.
Year-End Bonus (if contractual): Distribute according to company policy or CBA.
Holiday Pay Reconciliation: Ensure proper computation for November-December regular/special holidays.
Proof of Payment Retention: Maintain payroll records for potential DOLE inspection.

Non-payment of the 13th month triggers double indemnity plus attorney’s fees under Presidential Decree 851.

The Rising Cost of Non-Compliance and Risk Mitigation

In the Philippines, missing compliance requirements now carry heavier consequences as agencies intensify enforcement through integrated data-sharing agreements.

Financial Penalties: BIR alone collected PHP 18.7 billion in surcharges and interest in 2024.
Operational Restrictions: The SEC suspends corporate registration for repeated non-filing, which blocks bank transactions.
Incentive Revocation: The BOI cancelled incentives worth PHP 4.2 billion last year due to reporting failures.
Criminal Liability: Willful non-compliance can lead to imprisonment under the National Internal Revenue Code.
Reputational Damage: The public listing of delinquent taxpayers can affect credit ratings and investor confidence.

Integrated BIR-SEC-BOI data matching flagged 42,000 corporations for discrepancies in 2024.

Why Professional Support Has Become Essential for Year-End Compliance

Coordinating simultaneous submissions to the BIR, SEC, BOI, and DOLE, while reconciling accounting records, preparing sworn statements, and meeting varying deadlines, creates a complexity that routinely overwhelms even large internal teams without specialized expertise.

Cross-Agency Coordination: Ensuring that the AFS submitted to SEC matches the BIR attachment and BOI report.
Regulatory Change Tracking: Interpreting new Revenue Memorandum Circulars issued as late as November.
Electronic Filing Mastery: Navigating eBIRForms, eSPARC, BOI portals, and CAS requirements.
Penalty Avoidance Strategy: Identifying amnesty windows and voluntary disclosure opportunities.

Triple i Consulting has become indispensable, managing end-of-year compliance for over 2,100 corporations in 2024 with 100% on-time submission and zero significant penalties. Their integrated service eliminates the costly errors that plague 68% of self-managed filings.

Final Thoughts

The convergence of BIR, SEC, BOI, and DOLE deadlines between January and June 2025 represents more than administrative routine—it determines whether a corporation enters the new year with full operating authority or faces penalties that erode profitability. Early preparation of audited financial statements, payroll reconciliation, and export performance data enables a seamless transition from a stressful season to routine execution. Corporations that treat year-end compliance requirements in the Philippines as strategic governance rather than annual paperwork position themselves for smoother audits, stronger banking relationships, and uninterrupted growth. With regulatory scrutiny intensifying yearly, starting preparation in November remains the single most effective risk-mitigation strategy available.

Is Assistance Available?

Yes, Triple i Consulting provides comprehensive filing management and deadline tracking as a trusted partner, ensuring that every submission meets agency standards without incurring penalties. Our expert coordination turns regulatory pressure into peace of mind. Contact us today to schedule an initial consultation with one of our experts: