Outsourcing Brief: January - March 2012

25 Apr 2012

January - March 2012

New Guidelines in Filing of ITRs of eFPS Filers

10 Apr 2012

Earlier, the BIR announced that eFPS filers should manually file their annual income tax returns (ITR) due this April 16, 2012.

Monetization of VAT Tax Credits

02 Apr 2012

All VAT-registered taxpayers with outstanding VAT Tax Credit Certificates (TCCs) may convert their TCCs into cash under the government's TCC monetization program as implemented by Executive Order No. 68 (March 27, 2012).

ITR Filing Procedures for eFPS Filers

21 Mar 2012

Pending availability of the enhanced BIR income tax return (ITR) forms in the eFPS, all eFPS filers are required to manually file their ITR using the new forms, and pay their tax due with the Authorized Agent Banks (AABs) within the jurisdiction of the Revenue District Office (RDO)/Large Taxpayer District Office where they are registered.

BIR Interactive Form 1702

16 Mar 2012

The BIR has released the Interactive BIR Form 1702 (Income Tax Return for Corporations and Partnerships) which allows users to insert data, edit, save, and print the form.