Start the new year with more deadlines!
The year 2022 is coming to an end. The holiday rush is almost over. But for the first few weeks of 2023, instead of long queues in the supermarkets for groceries and malls for Christmas gift shopping, the Bureau of Internal Revenue (BIR), Local Government Units (LGU), Securities and Exchange Commission (SEC) and other government offices will be packed with taxpayers and business owners lining up to submit the 2022 year-end tax compliance requirements.
Here are all the annual year-end submissions and the respective deadlines that every taxpayer and every tax practitioner should look out for.
Bureau of Internal Revenue
Local Government Units (LGU)
Securities and Exchange Commission (SEC)
In recent years, government agencies introduced more online facilities and modes of submission in anticipation of a large number of taxpayers they will cater to during the busy seasons. This is also mainly for the convenience and health safety of the general public.
To ensure compliance, these government agencies impose surcharges and penalties in case of late submissions. Hence, with this extensive to-do list, it is best to check all applicable requirements, watch out for deadlines, and start working on the requirements as early as possible.
Have a productive busy season ahead!