By Arianne Cyril L. Mandac
Earlier this month, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 4-2021, which lays down the guidelines for the filing of tax returns and attachments, as well as the payment of the taxes due. The RMC did not, essentially, introduce any changes to the prescribed manner of filing and payment of tax returns, but it is nevertheless important to refresh ourselves on these guidelines to ensure proper compliance and avoid unnecessary penalties and inconvenience.
ELECTRONIC FILING AND PAYMENT OF TAX RETURNS
The electronic mode of filing of tax returns can either be via the eBIR Forms or the Electronic Filing and Payment System (eFPS) Facility. Several regulations were previously issued by the tax authority, which identified taxpayers for whom the filing of tax returns using these electronic filing platforms is mandatory. Nevertheless, other taxpayers may also opt to voluntarily file their tax returns electronically.