BIR to taxpayers: File ITR ahead of April 15 deadline

The Bureau of Internal Revenue (BIR) on Wednesday issued a “friendly reminder” to taxpayers to file their income tax returns for 2018 ahead of the April 15 deadline.

“This is a friendly reminder po para po hassle-free ang pagpa-file nila ng return at they don’t get entangled with the last-minute deadline glitches,” BIR Deputy Commissioner for Legal Affairs Marissa Cabreros said at a news conference in Malacañang.

She said that tax returns filed and taxes paid after the deadline will be slapped with the corresponding penalties as provided for in the Tax Code.

Penalties include 25 percent surcharge, 12 percent interest per annum, and compromise penalty, according to schedule of penalties.

Under the National Internal Revenue Code of 1997, as amended or the Tax Code, the deadline is April 15 following the close of the taxable year. 

“We are all funding our priority programs in education, health care, social protection, infrastructure – this is funded by the Filipino people; and the tax filing season is a great symbol of that commitment,” Finance Assistant Secretary Antonio “Tony” Lambino II said.

Cabreros said self-employed individuals and professionals will now have fewer pages to fill out when declaring their ITR.

The new ITR form -- reduced from 12 pages to two pages -- can also be filed online.

The issuance is contained in Revenue Memorandum Circular No. 17-2019, which prescribes the new BIR Form No. 1701A  or the Annual Income Tax Return for Individuals Earning Purely from Business/Profession.

Individuals earning P3 million or less per year only need to fill out a two-page form, while a four-page form is required for those earning more than P3 million a year. — RSJ, GMA News