Special InTAX: April 2024 Issue 1 | Volume 2

Bureau of Internal Revenue

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

Bank Bulletin No. 2024-02 dated 01 April 2024 which laid down the guidelines for Authorized Agent Banks (AABs) regarding the acceptance of tax returns/payment forms in compliance with Republic Act No. 11976 or the “Ease of Paying Taxes Act” (EoPT Law).

AABs are advised to accept all printed copies of electronically filed tax return/payment forms through eBIRForms and corresponding tax payments from taxpayers, regardless of the jurisdiction of the Revenue District Office (RDO) following the procedures specifically laid out in the issuance.

Further, AABs are reminded to accept tax payments from taxpayers already within the banks’ premises by the close of the banking hours and even after the bank clearing cut-off time stamped as “Received after cut-off/clearing time”. They should also accept manually filed tax return/payment forms from taxpayers enrolled in the Bureau’s Electronic Filing and Payment System (eFPS) in cases of unavailability of the eFPS and eBIRForms facility.

Revenue Memorandum Circular (RMC) No. 51-2024 dated 08 April 2024 to prescribe guidelines in the filing of the Annual Income Tax Returns (AITR) for the calendar year ended 31 December 2023 (CY 2023) and payment of taxes due thereon on or before 15 April 2024.

For the filing of the AITR for CY 2023, electronic filing via the BIR platforms (eFPS or eBIRForms) is required, with manual filing being allowed only if electronic platforms are unavailable. Income tax payments can be made electronically through ePay gateways or manually to any AAB or Revenue Collection Officer of any RDO.

All individual taxpayers, regardless of classification, should use the existing version of BIR Form Nos. 1701 or 1701A for filing their CY 2023 AITR. However, for the CY 2024 AITR due next year (on or before 15 April 2025), the two-page return provided under the EoPT Law must be used.

The specific guidelines in the filing of the AITR for the CY 2023 and the payment of taxes due thereon are laid out in the RMC under Part I and II respectively. Part III of the RMC provides for the list of the required attachments to the AITR and the related timing and mode of submission.

This RMC also clarified that since the AITR will be filed electronically, there is no need to have it stamped “Received”. Instead, the Filing Reference Number (FRN) or Tax Return Receipt Confirmation shall serve as proof of filing. Attachments to the AITR should only be stamped on specific pages of the Audit Certificate, Balance Sheet/Statement of Financial Position and Income Statement/Statement of Comprehensive Income. In case of corporations and other juridical persons, at least two (2) extra copies of Audited Financial Statements for filing with the Securities and Exchange Commission must be stamped “Received.”

Annex of A of RMC No. 51-2024 also provides for the summary guidelines, for easy reference of the taxpayers.

Here are the links to the full texts of the issuances: Bank Bulletin No. 2024-02 and RMC No. 51-2024.