Update on BIR Deadline for Filing of Annual ITR
BIR – The Bureau of Internal Revenue spoke on the dealine for the filing of the annual Income Tax Return (ITR).
One of the requirements of the government in almost all countries is the filing of annual income tax returns (ITRs) of specific individuals and businesses. There are individuals who are required to file their ITR in basis of their source of income and the amount they earned.
In the case of businesses, the filing of the ITR is also mandatory. In most legal transactions involving money, the ITR of an individual or a business is required most especially in loan applications. The ITR is filed at the Bureau of Internal Revenue or more commonly called BIR.
The BIR sets annual deadline on the filing of the ITR. For this year, the deadline was set on April 17.
Based on a report on ABS-CBN News, the Bureau of Internal Revenue (BIR) expressed that there would be no extension for the filing of the Income Tax Return (ITR). The deadline of the payment remains on April 17.
Commissioner Romeo Lumagui Jr. stressed that “we are all partners in nation-building” and the timely payment of the taxes lead to immediate funding of the programs of the government.
“The deadline for filing and payment of our 2022 AITRs is on the 17th day of April 2023, Monday,” Lumagui said.
Based on the report, taxpayers are encouraged to utilize the “file and pay anywhere” in paying for their annual taxes. The said mode paves the way for faster filing of taxes and the government agency said that there is now no reason for non-compliance since the process is convenient.
A taxpayer who fails to pay the taxes beyond April 17 will entail interests, surcharges, and penalties.
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