Philippine Seven Corporation

MO-TAX-2021-012
DECEMBER 2021
TAX MEMORANDUM

DATE DECEMBER 01,2021

TO ALL FRANCHISEES

YEAR-END TAX COMPLIANCE REMINDERS

SUBJECT

This memorandum outlines the year-end tax compliance requirements under the rules and regulations set by Bureau of Internal

Revenue (BIR) and Local Government Units (LGU), as follows:

YEAR-END REQUIREMENT
1 DESCRIPTION
1 DEADLINE

I. Renewal of Registrations
This includes, but is not limited to, the payment of local
a. LGU Registration
b. BIR Annual
Registration Fee (ARF)
business tax, mayor's permit fee (include MONEY
REMITTANCE), sanitary inspection fee, garbage fee, building
inspection fee, electrical inspection fee, mechanical
inspection fee, plumbing inspection fee, fire inspection fee,
personnel fee, business plate registration fee, and other fees
which may be required by the city or municipality.
Annual registration fee amounting to Php 500.00 per
business establishment is filed and paid using BIR Form No.
0605. (Sec.8 ofRR No. 7-2012)
Local Business Tax (LBT) is due on or
before January 20 of each year. However,
taxpayers may opt to pay this on an
installment basis within the first 20 days of
each taxable quarter.
On or before January 31 of each year (i.e.,
for 2021 ARF - January 31, 2022).

II. Registration of Books of Accounts

BIR requires BIR-approved loose-leaf books of accounts and
a. Loose-leaf Books of
other accounting records to be printed, permanently bound, On or before January 15,2022.
accounts
and properly labeled.
BIR requires registration of Computerized books of accounts
b. Computerized Books of
and other accounting records in CD-R, DVD-R or other On or before January 30,2022.
accounts optical media properly labeled as required.

III. Monthly eSales Reporting

All taxpayers using POS machines, with or without sales Every 8th of the following month - if last
eSales for POS Machines transactions, are required to submit monthly sales report digit of TIN is even
through eSales system. (RMCNo. 45-2014) Every 10th of the following month - if last
digit of TIN is odd

IV. Submission of Annual Information Returns and Summary of Alphabetical Lists (Alphalists)

The Annual Information Return of Income Taxes Withheld on

a. BIR Form No. 1604-C and
1604-F
b. BIR Form No. 1604-E
V. Submission of Monthly, Quarterly and Yearly Tax Returns
a. Monthly Tax Returns
Compensation and Final Withholding Taxes (BIR Form Nos.
1604-C and 1604-F) contain the summary of withholding tax On or before February 28 of each year
on compensation and final paid during the year. Also (i.e., For 20211604CF - February 28,2022).
required are the alphabetical list of employees and payees
from whom taxes were withheld for the year.
The Annual Information Return of Creditable Income Taxes
Withheld - Expanded (BIR Form No. 1604-E) contains the
On or before March 1 of each year
summary of EWT paid during the year. Also required is the
(i.e., For 20211604E - March 1, 2022).
alphabetical list of income payees from whom taxes were
withheld for the year.
Deadline of e-Filing/e-Payment of
Regular monthly filing and payment of withholding taxes
December 2021 remittance:
(i.e., WTC and Withholding VAT) together with the Alphalists
a. WTC (January 11-15, 2022
for the month of December 2021.
depending on the Group and
 Philippine Seven Corporation
TAX MEMORANDUM
b. Quarterly Tax Returns
c. Annual Income Tax Return
VI. Other Year-End Requirements
a. BIR Form No. 2316
b. Annual Inventory List
c. Lessee Information Sheet
We hope the above summary of year-end requirements will help and guide you in your annual tax compliance preparations and
submissions to avoid incurring penalties and unnecessary costs.
Should you have any questions on the foregoing, please contact Ms. Gelleen Anne Arcillas at taxcompliance@7-eleven.com.ph
or gqarcillas@7-eleven.com.ph or call (02) 8705-5228 / (02) 8705-5351.
Please be guided accordingly.
Thank you.
Preared b:
Tax Specialist
MO-TAX-2021-012
DECEMBER 2021
Type of Taxpayer)
(RMC No. 26-2002)
b. Withholding VAT
(January 10,2022)
Quarterly filing of VAT (BIR Form No. 2550-Q), FBT (BIR Form Deadline of e-filing/e-payment of 4th
No. 1603), EWT (BIR Form No. 1601-EQ) and FWT (BIR Form quarter 2021:
No. 1601-FQ) together with the required attachment for 4th a. FBT, EWT & FWT and submission
quarter of 2021. Required attachments are as follows: of QAP: January 31,2022
1. VAT - Summary List of Sales (SLS) and Summary b. VAT: January 25,2022
List of Purchases (SLP); SLSP: eFPS- January 30,2022
2. EWT and FWT - Quarterly Alphalist of Payees Non-eFPS - January 25,2022
(QAP).
Annual filing of Income Tax Return for 2021 together with
the applicable attachments (e.g., Audited Financial On or before April 15,2022
Statements, SAWT, Copies of BIR Form No. 2307, BIR Form
No. 1709 - Information Return on Related Party
Transactions, if applicable).
This is the 'Certificate of Compensation Payments and Taxes The 2021 withholding statement must be
Withheld' issued to the employees for the year 2021 which provided to employees on or before
may be submitted in soft copies in lieu of the hard copies. January 31,2022.
(Sec. 2 of RR No. 2-2015)
Duplicate signed copies of these
Certificates must be provided to BIR (in
hard or soft copies) on or before February
28, 2022.
Submission of list of warehouse and store inventories as of
year-end in compliance with the prescribed format by the On or before January 30,2022.
BIR. (Sec. 2 ofRMC No. 57-2015)
For taxpayers engaged in leasing of property for commercial For 2nd semester 202|, BIR submission is
activities, submission of layout of the property, lease on or before January 31,2022.
contracts and lessee information sheet are required.
(Sec. 2 of RR No. 12-2011)
Reviewed by: Approved by:
Ariann^Dbminic|ue T. I Lawrence M. De Leon
Ta^Section Manager Finance Division Head