Medez-Galanto & Associates

Certified Public Accountants

M.V. Hechanova, Jaro, Iloilo City Tel. Nos. 503-3234 / 509-1527

REQUIREMENTS FOR ANNUAL INCOME TAX AND

FINANCIAL STATEMENT PREPARATIONS (CORPORATIONS-
VAT)
The following are documents and data needed for the preparation of
financial statements:

BIR FILED RETURNS

1. Previous Year Annual
Income Tax Return and
Financial Statement
(1702-RT)
2. Quarterly Income Tax
Returns (1702-Q)
3. Monthly Value Added Tax
Returns (2550 –M)
4. Quarterly Value Added
Year 2018
1st 2nd and 3rd Quarter Year 2019
January, February, April, May,
July, August, October, November
(Year 2019)
1 2 3 and 4th Quarter Year
st nd rd

Tax Returns (2550-Q) 2019

5. Monthly and Quarterly Year 2019
Withholding Tax -
Expanded (0619 –E &
1601 –EQ)
6. Monthly Withholding Tax Year 2019
Compensation (1601-C)
7. Creditable Withholding Year 2019
Taxes (2307, 2306)
8. Annual Inventory List – As of December 31, 2019
9. 2019 Alphalist for Employees and their corresponding
compensation.
OTHER DOCUMENTS

1. Certificate of Loan Balances as of December 31, 2019 and

Interest Payments for the year 2019
2. Certificate of Purchases from Suppliers (For the year 2019)

3. Schedule of Accounts Payables or List of Payables as of December

31, 2019
4. Schedule of Accounts Receivables or List of Collectibles as of
December 31, 2019
5. List of Assets/Properties/Equipment acquired during the year
2019 and other assets acquired in previous years not declared in
the financial statement. (Please support with invoices or sale
contracts)
6. Summary of Itemized Expenses for the year 2019. (ex. Electricity,
Telephone, Repair and Maintenance, etc.)
7. Official Receipts of Municipal and Local Taxes Paid for the year
2019. (ex. Business Permits, LTO or LTFRB, Real Property Taxes,
etc.)
8. Payroll Records for the whole 2019 year including the summary of
benefits and deductions.
9. Summary of SSS, Philhealth & Pag-Ibig Payments for the whole
2019 year (Employer Share Only)
10. Other financial documents necessary for filing the
company’s Financial Statement and Annual Income Tax Returns
such as but not limited to:
a. General Information Sheet
b. Amended Articles of Incorporation and By Laws (If Any)
c. Others

Please be noted that the deadline for submission of above-mentioned

documents is on February 28, 2020.

Provide 1 white long folder upon submission of documents.