Remember your yearend tax obligations, BIR reminds taxpayers
Tacloban City (January 7) -- The year 2009 maybe over, but the taxpayers still must comply their tax obligations for the year-end and for the early part of 2010 lest they be penalized.
BIR Commissioner Joel L. Tan-Torres reminded the employers that they have to submit to the concerned BIR offices BIR Form No. 1604-CF or the Annual Information Return of Income Taxes Withheld on Compensation and Final Withholding Taxes together with its attachment, the Alphabetical List (Alphalists) of Employees including Minimum Wage Earners on or before February 01, 2010.
BIR Form 1604-CF contains information on taxes withheld and deducted by employers from the wages of their employees which shall be filed with BIR on or before January 31st of the succeeding year. For this year, since January 31st is a Sunday, the deadline will be automatically moved to the next working day, February 01, 2010.
Commissioner Tan-Torres said that all withholding agents with less than ten (10) employees shall submit to BIR, BIR Form No.1604-CF with Alphalists of Employees in hard copies. Employers with ten (10) or more employees shall submit the same in hard and soft copies.
However, those required to file under the Electronic Filing & Payment System (eFPS) shall submit in soft copies regardless of the number of employees.
The file format to be used by the withholding agents in the submission and filing of the 1604-CF form with the Alphalists attachment thru diskette / CD/ email: esubmission@ bir.gov.ph as embodied under RMC No. 5-2009.
The Technical specifications to be used, may be found in Annex"A-2009"of the said RMC. Taxpayers are required to use either the excel format or their own
extract program which shall pass through the validation module issued by the Bureau.
Commissioner Tan-Torres also reminded employers of their obligation to conduct year-end adjustment on wages of all their employees to ensure that their tax due is equal to their tax withheld and to issue BIR Form No. 2316 to every employee on or before February 01, 2010.
With the result of the annualized computation, employers must effect necessary adjustments and refund excess withholding tax to their employees on or before January 25, 2010 or collect that from the last compensation of the year (December 2009) if there is still amount due.
Commissioner Tan-Torres also told the employers to file Monthly Remittance Return on Income taxes on Compensation (BIR Form No.1601–C) on or before January 15, 2010.
He also reminded them of the staggered deadline of filing for those under the Electronic Filing and Payment System (eFPS).
Top 20,000 Private Corporations duly identified and notified by the Commissioner are required to submit the Semestral List of Register Suppliers for the second semester of 2009 transactions also on or before February 01, 2010.
Furthermore, taxpayers using calendar basis of accounting, ending December 31, must submit to the BIR the year-end Inventory Lists on or before January 30, 2010. (PIA 8) [top]