Extended deadline for filing of application for VAT TCC monetization

07 Sep 2012

The deadline for filing of application for monetization of VAT Tax Credit Certificates (TCCs) in case of revalidated and unexpired TCCs originally issued in 2002 and 2003 has been extended from September 1, 2012 to September 15, 2012 or the expiration of the TCC, whichever comes first

VAT TCC Monetization Program Filing Deadline

23 Aug 2012

The BIR has set the following deadline in the filing of application for enrollment in the VAT Tax Credit Certificate (TCC) monetization program.

Claiming casualty loss deductions

14 Aug 2012

Corporations and individual taxpayers engaged in business or practice of profession who sustained losses wrought by the recent monsoon rains may claim the loss as deduction for the taxable year in which the loss was sustained.

August 31 deadline for uploading of 2011 ITR in the eFPS

13 Aug 2012

Relative to the requirement under Revenue Memorandum Circular (RMC) No. 15-2012 for eFPS taxpayers to encode the contents of their manually filed ITRs in the eFPS, the BIR has formally announced the availability in the eFPS of the Enhanced Income Tax Return (BIR Form 1702 (November 2011 ENCS). In relation to this, the BIR issued the following guidelines in uploading the contents of the manually filed ITRs of eFPS taxpayers

Filing deadline moved to August 13, 2012

10 Aug 2012

The BIR has extended the deadline for the e-filing/filing and e-payment/remittance of BIR Forms 1600, 1606, 1601C and 1602; 1601E & 1601F; and 2200M from August 10, 2012 to August 13, 2012 for taxpayers filing in the following Revenue District Offices (RDOs), including affected Authorized Agent Banks (AABs).