ATTENTION all taxpayers: you have only seven days left to prepare the calendar year 2013 annual income tax returns (ITRs) before the deadline for filing and payment on April 15. As the deadline draws near, taxpayers should familiarize themselves with the guidelines for the preparation of correct and complete ITR and its proper filing especially since the Bureau of Internal Revenue (BIR) just released new ITR forms.
MANILA, Philippines – Bureau of Internal Revenue (BIR) Commissioner Kim Hernares on Tuesday said the tax collecting agency is now putting in place measures for the electronic filing of income tax returns (ITRs) by April next year. Henares said the agency is in talks with the Department of Budget and Management for the online payment system. “We will put up interactive forms for self-employed individuals to file their ITRs online with an option to pay electronically or through banks,” said Henares. She added that by next year, taxpayers will soon have the option to file their ITR either electronically or manually. She added that BIR is now pilot-testing other tax-related payments such as the value-added tax which it plans to implement by the end of the year. Other measures include the improvement of information technology capacity of registering corporations as well as properties, the state agency said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “This will provide us assurance that those who registered with us are legitimate persons,” Henares said.
THE DEADLINE for filing the annual income tax return (ITR) is just around the corner, as they say. Individual taxpayers and non-individual taxpayers adopting the calendar year accounting period are required to file their ITR not later than April 15, 2013. By now, most taxpayers have already filed or are in the process of finalizing their annual ITR for eventual filing.
THE GOVERNMENT will now use the income tax returns (ITR) of firms as the main basis for determining their financial capacity for contracting in state projects, a Cabinet official said yesterday.