The Bureau of Internal Revenue has asked individual and corporate taxpayers to file their 2018 Income Tax Returns now and not wait for the last day rush and confusion.
Revenue officials said the April 15 deadline will not be extended and interests and surcharges will be collected from late filers.
They made the request during the launching of the Quezon City revenue region tax campaign to raise P179 billion this year.
Quezon City Revenue Regional Director Romulo Aguila Jr. said individuals deriving income from the practice of professions like doctors are still required to file ITRs.
Aguila came out with the explanation to correct misconception that this group of taxpayers need not file returns if the annual income does not reach the new tax exemption threshold of P250,000 as prescribed by the Tax Reform for Acceleration and Inclusion law.
Aguila said professionals like businessmen are required under the Tax Code to file ITRs regardless if they declare profit or loss, otherwise, they will be penalized for non-filing.
The tax forum held at the Fisher Mall in Quezon City was attended by more than 5,000 business operators, professionals, and tax practitioners from cities and towns under the region’s jurisdiction.
Participants were also briefed on the various reforms to ease the procedure in doing business with the bureau. (Jun Ramirez)