Philippines e-invoicing and reporting mandates for the hospitality sector. Learn about current and upcoming regulations, along with partner solutions for streamlined compliance.
This is not a legally approved document. We are outlining what our customers do in the Philippines regarding statutory requirements. They may be utilizing Cloudbeds alongside other third-party services to comply with all requisites.
E-Invoicing
Current Mandates: No current or upcoming mandate.
Fiscalisation Receipts
Current Mandates:
- All companies in the Philippines are required to submit annual financial statements to the Bureau of Internal Revenue (BIR).
- For corporations with over P50,000 in assets or gross quarterly sales, audited financial statements must be filed within 105 days of the fiscal year end.
- Smaller corporations can file unaudited financial statements within 60 days of year-end.
- The statements must follow Philippine Financial Reporting Standards, which are closely aligned with International Financial Reporting Standards (IFRS).
- Companies must also file an Annual Income Tax Return and other tax declarations.
- Quarterly VAT returns are required for companies exceeding P3 million in sales. Monthly returns if sales exceed P25 million.
- There are penalties for late filing or non-filing, ranging from P1,000 to P50,000. Criminal charges may also apply for tax evasion.
Partner Solutions:
QNE Software (estimated availability by the end of Q1, 2025)
Statistical Reporting
Current Mandates: No current or upcoming mandate.
Guest Reporting
Current Mandates: No current or upcoming mandate.
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