MANILA – The Bureau of Internal Revenue (BIR) on Wednesday reminded Filipinos to file their income tax returns (ITR) before the April 15 deadline.
Those who will fail to meet the deadline will have to pay a 25-percent surcharge and a 12-percent interest per annum, the BIR said in a statement.
“This is a friendly reminder po para po hassle-free ang pagpa-file nila ng return (for a hassle-free filing of return) and they don’t get entangled with the last-minute deadline glitches,” BIR deputy commissioner Marissa Cabreros said in a statement.
Filing ITRs is easier today as forms that need to be filled up has been reduced to 4 pages from 12 under the Tax Reform for Acceleration and Inclusion (TRAIN) law, the statement said.
Other forms can be filed online using the eBIR platform while payments can be made through ATMs, online channels including the Land Bank of the Philippines and the Development Bank of the Philippines, and e-wallet G-Cash, among others, Cabreros said.
Under the first tranche of the TRAIN law that took effect in January, the threshold amount for tax exemption was raised to P250,000 of annual income from the previous P50,000.