Special InTAX: February 2024 Issue 1 | Volume 6

Bureau of Internal Revenue

The Bureau of Internal Revenue (BIR) issued the following:

Revenue Memorandum Circular (RMC) No. 29-2024, dated 26 February 2024, to inform the extension of the deadline of the submission of the BIR’s copy of BIR Form No. 2316 to 31 March 2024.

For purposes of uniformity in the submission of other reportorial requirements in relation to the submission of BIR Form No. 2316, only the following documents shall be required by all Revenue District Offices:

1. Sworn Declaration (Annex "C") under Revenue Regulations (RR) No. 2-2015; and
2. Certification of the List of Employees Qualified for Substituted Filing of their Income Tax Return (Annex "F") under RR No. 11-2018.

RMC No. 29-2024 also clarified that the submission of copies of BIR Form No. 2316 without the signature of the concerned employee under Revenue Memorandum Circular (RMC) No. 18-2021 (which was allowed only due to the limitations brought by the COVID-19 pandemic) shall no longer be allowed, more particularly for those employees who are qualified for substituted filing.

Those taxpayers who have already submitted the BIR's copy of the Certification in item 2 above using the old format (2018 version) shall no longer re-submit using the new format (2021 version), provided that the computation of the withholding taxes reflected in the said form is based on the 2023 income tax rates.

[RGM&Co. Note: Taxpayers have until 1 April 2024 to submit the BIR Form No. 2316 since 31 March 2024 falls on a Sunday.]

BIR Advisory, issued on 26 February 2024, to advise the extended submission deadline of the BIR’s copy of BIR Form No. 2316 together with the attachments mentioned in RMC No. 29-2024.

The scanned copies of the BIR Form No. 2316 are required to have the signature of the employees who are qualified for substituted filing pursuant to the same RMC and shall be submitted by the employer through Universal Storage Bus (UBS) memory stick or other similar storage devices.

Taxpayers who have already submitted said BIR’s copy as of 26 February 2024 are no longer required to re-submit the certificates even without employee’s signature, provided that the computation of the withholding tax reflected in the form is based on 2023 Income Tax rates.

Submission of the Alphabetical List of Employees/Payees from Whom Taxes Were Withheld for taxable year 2023 is also extended until 18 March 2024 pursuant to RMC No. 25-2024.

RMC No. 30-2024, dated 23 February 2024, to circularize that the Agreement between the Government of the Republic of the Philippines and the Government of His Majesty the Sultan and Yang Di-Pertuan of the Brunei Darussalam for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income (Philippines-Brunei Tax Treaty) has entered into force on 25 January 2024.

The Philippines-Brunei Tax Treaty shall have effect on income derived from sources within the Philippines beginning 1 January 2025 pursuant to Article 28 (Entry into Force) of the Agreement.

Here are the links to the full texts of the issuances: RMC No. 29-2024, RMC 30-2024, BIR Advisory 26 February 2024 Extension of Submission of BIR Form No. 2316.