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BIR Reminder: Monday deadline for tax returns

Published Apr 14, 2024 06:54 am

The Bureau of Internal Revenue (BIR) is reminding taxpayers to submit their annual income tax returns (ITR) by Monday, April 15, with no extensions to be granted.

BIR Commissioner Romeo D. Lumagui Jr. is calling on taxpayers to file and pay their 2023 ITR obligations promptly. 

The BIR has been actively promoting awareness of the April 15 deadline since February and has established tax assistance centers to support taxpayers in meeting their obligations.

The BIR has also engaged prominent personalities, including Manny Pacquiao, to bolster tax awareness efforts. 

The ITR filing requirement applies to a range of individuals and entities, including self-employed individuals, business owners, mixed-income earners, partnerships, and corporations.

Taxpayers, meanwhile, can take advantage of the BIR's online services, which are accessible 24/7, allowing them to file their returns at their convenience from any location. 

Although manual filing is still possible at Revenue District Offices (RDOs), the BIR urges the public to opt for electronic filing to avoid waiting in lines. 

According to the BIR, more than 90 percent of filers are now utilizing the agency's electronic facilities for submitting their tax returns.

Late filing penalties include a 25 percent surcharge on the tax amount due in the ITR, along with an additional penalty of 12 percent per annum or one percent per month. 

Penalties of P1,000 are applied in cases of no tax liability and no sales, while penalties for cases with sales but no tax obligation range from P3,000 to a maximum of P25,000.

The BIR has set a collection target of P405.94 billion for April, a 21 percent increase over the previous year's collection of P336.02 billion in the same month.

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