BusinessWorld
May 5, 2021 | 7:27 pm
By Giselle Juliane
Recently, the Bureau of Internal Revenue (BIR) released its tax campaign jingle âPara sa Pilipinoâ with the following lyrics:
Sino pa ba ang tutugon
Para sabay-sabay ang pagbangon
Sama-sama sa hamon ng panahon
(Who else will answer the call/to bring everyone up together/Progress is our ambition/Hand in hand we meet the challenge of the times)
As the words suggest, everyone has to pay their share to fund economic recovery, given the countryâs current state. Thus, the tax filing deadline for 2020 was not extended.
While the BIR released a number of pronouncements to address concerns about tax filing during a pandemic, I cannot help but mull over the benefits and disadvantages of these issuances.
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.