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Guide

Hotel Revenue Marketing

Philippines

The TL;DR

Compliance doesn’t need to be complicated. Learn how local e-invoicing, fiscalization, and reporting work and explore Cloudbeds’ trusted integration partners.

Contents

Government compliance - Philippines

Fiscalization receipts

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.

Upcoming integrations

QNE Software (estimated availability end Q2 2025)

Disclaimer: Please note that this is for information purposes only. It does not constitute a legally binding document so you should also consult your local requirements.

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