April 13 ----- The Bureau of Internal Revenue (BIR) is not keen on extending the April 17 deadline for the submission of the 2022 income tax return (ITR).
BIR Commissioner Romeo D. Lumagui, Jr. said the ITR maybe filed at any revenue district office (RDO) nationwide without penalty for wrong venue filing, and the tax due remitted at any authorized agent bank (AAB), or with the revenue collection officers of the RDO. The BIR chief said AABs have extended their office hours up to 5 p.m.to accept tax payments. He stressed that the deadline will not be extended, and late filers will be slapped with 25 percent surcharge on the amount due, plus interest and compromise penalties.
Required to file ITR are citizens deriving income, resident aliens and foreign nationals earning income in the Philippines. Exempted from filing ITR are individuals with annual income of P250,000 and less as well as salaried workers whose returns are submitted by their employers under the substituted filing system (SFS). Individuals engaged in business, or practiced of profession are mandated to file returns regardless if they report earnings, or losses.
Individuals qualified for SFS may manually file the ITR for loans, travel abroad, scholarship, or promotion. Lumagui warned that non-submission of ITR is punishable with imprisonment of up to 10 years and fine of P10,000.
Source: mb.com.ph
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