BIR: No change in ITR deadline
Mary Grace Padin (The Philippine Star) - January 21, 2018 - 12:00am

MANILA, Philippines — The deadline for the filing and payment of annual income tax returns (ITR) remains on the 15th of April after each taxable year, the Bureau of Internal Revenue (BIR) said yesterday.

The bureau issued the clarification after some reports surfaced saying the deadline is now May 15 following the implementation of Republic Act 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) law.

“What was changed under the TRAIN law is the deadline for the filing of the first quarterly ITR for self-employed individuals and professionals (BIR Form 1701Q) which now falls on May 15 of each taxable year. Under the old law, the deadline was April 15 which coincides with the deadline for the filing of the annual ITR (BIR Form 1700 and 1701),” the BIR said in a statement.

With the clarification, the BIR said all individual taxpayers are expected to file their annual ITR for 2017 on or before April 15, 2018.

Self-employed individuals and professionals, for their part, should file their 2018 first quarter ITR on May 15, 2018. But the BIR said the deadline for the second and third quarter ITRs remain the same.

“There will be no extension of the said deadlines and taxpayers are encouraged to file as early as now to avoid the usual issues and inconvenience experienced during the last day of filing,” the bureau said.

The BIR warned taxpayers who file their ITRs and pay their taxes late will be slapped with the corresponding penalties as provided for in the Tax Code, including a 25 percent surcharge, 20 percent interest per annum and compromise penalty.

Philstar
Facebook
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

SIGN IN
or sign in with
Read and share the latest news
whenever and wherever you are.
Top Stories
Features the most relevant stories,
exclusive content, analyses and special reports.
As It Happens
Get bite-sized highlights and up-to-date
information as the news breaks.
Latest
View the most recent
stories of the day.
Log-in
Lorem ipsum dolor sit amet,
consectetur adipiscing elit.
Quisque justo est, auctor vel ullamcorper.
Log-in
Lorem ipsum dolor sit amet,
consectetur adipiscing elit.
Quisque justo est, auctor vel ullamcorper.
How to follow As It Happens stories
STEP 1
Click the story in the As it Happens section.
How to follow As It Happens stories
STEP 2
Click "Follow Story" for updates on the news.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aliquam eu metus vitae felis tincidunt finibus ut id sapien. Integer volutpat dui eu malesuada dignissim. Sed varius justo nulla, fringilla convallis sem porta sed.
How to follow Author
STEP 1
Click on the author's name in the article.
How to follow Author
STEP 2
Once you click on the author's name, you will be
brought to the Authors page. Click "Follow Author"
to stay updated on the author's works
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aliquam eu metus vitae felis tincidunt finibus ut id sapien. Integer volutpat dui eu malesuada dignissim. Sed varius justo nulla, fringilla convallis sem porta sed.
How to follow Tags
STEP 1
Click on a tag in the article.
How to follow Tags
STEP 2
When you click on a tag, it will take you to the
dedicated tag page where you'll see the article
viewed, along with other stories with that tag.

Click the "follow tag" button to stay updated on
the topic.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aliquam eu metus vitae felis tincidunt finibus ut id sapien. Integer volutpat dui eu malesuada dignissim. Sed varius justo nulla, fringilla convallis sem porta sed.