Income
tax deadline on Wednesday The
last day of filing Income Tax Returns (ITR) for the Taxable Year 2008 - BIR Form
1700 (blue form) for compensation income earners with tax due after taxes withheld
is set on Wednesday.
Self
employed, individuals engaged in business or practice of profession will turn
in BIR Form 1701 (red form) and BIR Form 1702 (black form) for partnership and
corporations. OFWs
or overseas income earners who wish to render information on their income earned
outside the Philippines will use BIR Form 1703 (green form). Multi-employers employees
will use BIR Form 1700 while mixed income earners will use BIR Form 1701.
| | | April
15 is also the last day of filing the first quarter of ITR for the year 2009 -
BIR Form 1701Q for individuals and BIR Form 1702Q for partnership and corporations.
BIR
Revenue District Officer Atty. Rogelio T. Balaga strongly enjoins all Boholano
taxpayers to file and pay before the deadline, their BIR dues to avoid the hassles
of last minute filing as well as pay the correct tax due to avoid audit and investigation
which slows down tax generation. He also expects a 30 percent increase in remittances
from the business sector as compared to 2007 to make up for the shortfall that
BIR incurred in 2008. | The
recently launched BIR tax campaign banner "Buwis Para sa Bayan, Laan sa Buhay
at Kinabukasan" ushers in the year's efforts by the BIR to generate taxes
for the government. This includes "Oplan Kandado" program which means
temporary suspension/closure of any business establishment for those who fail
to register, failure to file VAT returns, failure to issue VAT invoices and receipts
or understatement of taxable sales by 30% or more. For 2009 BIR Oplan Kandado
hopefully gives teeth to the enforcement of revenue regulations. (ERLomantas,
BIR-RD 84)
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