BIR develops system for online tax filing
CEBU, Philippines - The Bureau of Internal Revenue has advised taxpayers that at least seven tax returns forms can now be submitted online through its Electronic Filing and Payment System (eFPS).
In its Revenue Memorandum Circular No. 2-2015, the BIR, however, stated the online submission of the tax forms to the eBIRForms System is not yet available.
“All concerned shall be immediately informed through an official advisory as to their availability,” the bureau said in a new issuance.
The eFPS is a system where taxpayers can electronically file their tax returns including attachments through the internet. They can pay their taxes online through an internet-banking service by debit from their enrolled bank account.
Tax forms include annual income and excise tax returns.
Income tax returns can come from individuals earning purely compensation income, self-employed individuals, estates and trusts and people with business and compensation income.
The revenue agency recently trimmed its revenue target for 2015 to P1.7 trillion, lower compared to its initial target P2.34 trillion.
The collections will be used for budgetary requirements. — (FREEMAN)
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