ITR deadline on April 15

CEBU, Philippines - Taxpayers are again reminded of their duty to file their Income Tax Returns (ITR) as there will be no extension of the deadline which is on Thursday.

Bureau of Internal Revenue (BIR-13) Assistant Division Chief of the Legal Division Neri Yu warned that failure to pay on or before the deadline will be slapped with penalty fess.

Yu said there will be no extension of the deadline while those who will pay after April 15 will be imposed with 25 percent surcharges and 25 percent interests.

“We appeal to the taxpayers to pay before the scheduled deadline and not wait until Thursday to file their ITR,” Yu stressed.

Cebu which has four revenue district offices and one in Bohol composed the BIR-13.

Asked on the issue of tax evasion, Yu said most often violators would just be slapped with the penalties as tax fraud is a very tedious process and very hard to prove.

“That’s why we impose high penalty fees to those who failed to pay on time,” while there has no case yet filed in Cebu for tax evasion, according to Yu.

Although Yu said there is a special investigation division in the BIR Central Office that is tasked to look into allegations of tax evasion.

“Complaints from concerned citizens regarding individuals with lavish lifestyles whose incomes do not fit to the way they live will be subjected to background checks and their taxes scrutinized,” according to Yu.

Cebu North Revenue District Office head Curly Lozano on the other hand, said taxpayers can choose any of the filing schemes in applying for their ITR namely through accredited banks, electronic filing and payment system, in the ‘Tax Tulungan’ Centers and in the various revenue district offices.

Lozano said there are two ‘Tax Tulungan’ Centers which are found in SM City Cebu and in the North Revenue District Office.

For establishments within the Philippine Economic Zone Authority (PEZA) in Mactan, Lapu-Lapu City and companies registered with the Board Investments, Lozano said they are encouraging the electronic filing and payment system because this is more convenient. But the companies have to be enrolled under the system before they can avail of such payment scheme, Lozano added.

The BIR-13 plans to post the top 300 individuals and top 50 corporations that contributed the highest payment in taxes in the different revenue district offices as a way of recognizing and giving them credit.   (FREEMAN NEWS)