The Bureau of Internal Revenue (BIR) has reminded individual and business taxpayers that they have until Monday, April 18, to file their 2021 income tax return (ITR)
BIR officials said the deadline will not be extended.
Late filing of return is punishable with one time 25 percent surcharge on the amount due and 20 percent annual interest, plus compromise penalties as prescribed in the Tax Code.
Required to file ITR are Filipino citizens deriving annual income of over P250,000, overseas Filipinos with income earned in the Philippines and aliens earning income here.
Taxpayers engaged in business,or exercise of profession are also required to submit ITR, regardless of their gross earnings.
The bureau also accept payment in cash, or in check through it's revenue collection officers (RCOs) regardless of the amount.
Taxpayers are allowed to file returns and pay taxes at any Authorized Agent Bank, or revenue district office regardless of jurisdiction due to Covid-19.