^

Business

BIR says no extension of deadline for filing of income tax returns

Ramon Royandoyan - Philstar.com
BIR says no extension of deadline for filing of income tax returns
The taxman announced this in a Facebook post on Monday, which stated that there will be no extensions but allowed a small concession—taxpayers could submit their tentative Annual Income Tax Returns before this deadline and amend it on or before May 16 without facing penalties.
Krizjohn Rosales, file

MANILA, Philippines — The Bureau of Internal Revenue will not extend the deadline for taxpayers to file their income tax returns and pay taxes, maintaining that they need to beat the April 18 cutoff.

The taxman announced this in a Facebook post on Monday, but allowed a small concession: taxpayers could submit their tentative Annual Income Tax Returns before this deadline and amend it on or before May 16 without facing penalties.

The deadline was initially moved to April 18 since the previous cutoff fell on a Friday, which was a holiday in observance of Holy Week this year.

"The Bureau has permitted the said manner of filing and payment of AITR to alleviate the difficulties in beating the deadline on a holiday and considering the challenges encountered in the hybrid working arrangement adapted by most taxpayers," the BIR said in a statement.

According to BIR's memo, all the required documents attached to the electronically-filed AITR for 2021 must be submitted on or before May 31 to the Revenue District Office or Large Taxpayer's Service where the taxpayer is registered.

The public could also send these documents electronically through the BIR's Electronic Audited Financial Statements (eAFS) System.

Last year,  the BIR collected P2.086 trillion of revenues, or 0.25% above its target for that year,

The BIR is targeting to collect P2.4 trillion this year. 

BUREAU OF INTERNAL RVENUE

INCOME TAX RETURN

Philstar
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

FORGOT PASSWORD?
SIGN IN
or sign in with
no session for state
no session for code
no session for id_token
no session for user