It’s Now Easier To File Your ITR
Taxpayers were urged by the Department of Finance to settle their tax obligations early as the filing of Income Tax Returns have been made easy by the Tax Reform for Acceleration and Inclusion (TRAIN) law.
The income tax forms for individuals and corporations have been reduced from 12 pages to only two to four pages according to the Department of Finance (DOF) Assistant Secretary Tony Lambino.
During their weekly economic briefing in Malacanang, he announced:
“Isang pagbabago sa ating income tax filing na dulot ng TRAIN law, ay ang pagkakaroon ng ITR na mas maikli at mas madaling i-fill up.”
Translation: “One of the changes in the filing of income tax due to TRAIN law was the shorter ITR and easier filing.”
Lambino of the Bureau of Internal Revenue (BIR), also added that they have established more electronic means of payment for easier and simplified payment of taxes. ITR filing and payment of taxes can also be processed online now.
BIR spokesperson and Deputy Commissioner for Legal Affairs Atty. Marissa Cabreros said that the simplified ITR now has six types depending on the annual income of the taxpayers. Individuals purely earning compensation have to use the BIR Form 1700 while individuals with their own business, self-employed, professional or mixed-income earner shall file using the BIR Form 1701, 1701-A and corporate returns are filed through BIR Forms 1702-RT, 1702-EX, and 1702-MX.
All of them can be easily filed through two available platforms of BIR which is either the eBIR Form Package 7.4.1 or the Electronic Filing Payment System facility which is the latest one. Cabreros also added that the BIR has opened Tax Filing Assistance Centers in their regional offices. E-lounges in Revenue District Offices are also available to assist taxpayers in online filing of their returns.
Manual filing is still available and taxpayers can still opt for that process, or they can still opt to pay their return through banks, online facilities such as Globe G-Cash, Landbank Link Biz using ATM or debit cards, and ‘usual facility’ e-FPS. This will give taxpayers more options for their own convenience.
Cabreros also appealed to the public to file and pay their 2018 ITR on or before the April 15, 2019 deadline, to avoid penalties.