BIR reminds public: Filing of ITRs ends tomorrow

MANILA, Philippines - Taxpayers have until tomorrow to file their 2012 income tax returns (ITRs) to avoid penalties, the Bureau of Internal Revenue (BIR) reiterated yesterday.

Late taxpayers will be slapped with a 25 percent surcharge and an interest of 20 percent per annum.

Penalties shall be imposed for ITRs filed after office hours on the last filing day.

ITRs may be filed with authorized agent banks which include Allied Bank, Bank of Commerce, BPI, China Bank, Chinatrust, Citibank, Deutsche Bank, DBP, HSBC, Land Bank, MetroBank, PBCom, PNB, Philtrust Co., RCBC, Security Bank, Standard Chartered Bank, Union Bank and UCPB.

The banks will accommodate taxpayers who are already within the bank premises before 5 p.m. tomorrow.

Tax payment with authorized banks may be done through over the counter cash, bank debit system, check payment, or electronic filing ßsystem.

Payments may also be made via Land Bank automated service machines and China Bank pay kiosks. These kiosks provide the taxpayers facilities to pay internal revenue taxes through cash and issue acknowledgement receipt for each completed transaction.

Aside from these, payments may be made through a revenue collection officer or special collection officer.

Tax payments not exceeding P10,000 may also be done through Globe G-cash.

According to the BIR, taxpayers must file their ITRs with the revenue district office or tax filing centers having jurisdiction over their legal residence or place of employment/business/principal office where they are registered.

Late tax returns or those filed beyond April 15 shall not be accepted by any authorized agent bank or revenue collection officer except where the late tax return is stamped with “late filing,” the BIR said.

Individual taxpayers may choose to pay in two equal installments when the total tax due exceeds P2,000. The first installment shall be filed and paid on or before April 15 and the second installment on or before July 15 using BIR form 0605.