The Bureau of Internal Revenue (BIR) reminded taxpayers to submit their Income Tax Returns (ITRs) for 2017 sooner than its expected deadline which is April 16, 2018 (Monday) to avoid penalties in late filing.
As You Know…
The deadline for filing of Income Tax Returns would supposedly take place every April 15, following the close of taxable year, But it was moved on Monday (April 16, 2018) due to the fact that April 15 falls on a Sunday.
Avoiding the Deadline Rush
In a statement by BIR Commissioner Caesar R. Dulay, he reminded taxpayers that there would be no extensions given within the deadline in filing ITRs, and that late filing of returns would result to penalties such as a 25% Surcharge on amount due, 20% annual interest and some other extra charges, which is why taxpayers should file their Income Tax Returns as soon as possible.