BIR reminds taxpayers of April 17 deadline
LATE FILING ENTAILS PENALTIES
The Bureau of Internal Revenue (BIR) reminded taxpayers to file their 2016 income tax returns (ITR) on or before the April 17 deadline, according to a report by GMA News'"News to Go" on Friday.
The yearly deadline for ITR filling is actually on April 15, however, the bureau moved the date because it falls on Black Saturday, a special non-working holiday, this year.
According to the BIR, penalties such as a 25 percent surcharge will be imposed on those who fail to meet the deadline. To accommodate last-minute taxpayers, the bureau is setting up more filing centers.
Eighty percent of government revenue comes from BIR tax collection that it is important to pay the right amount of taxes, the bureau said. — Ted Cordero/VDS, GMA News