Tax notes: eFPS enrollment for Peza, BOI firms mandatory

WITH the issuance of Revenue Regulations (RR) 1-2010, the coverage of the electronic filing and payment system (eFPS) of the Bureau of Internal Revenue (BIR) has been further expanded to include all economic zone or free-port enterprises and other entities which are registered with the following incentive-giving government agencies:

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1. Philippine Economic Zone Authority (Peza);
2. Board of Investments (BOI);
3. Subic Special Economic Zone;
4. Clark Special Economic Zone;
5. Clark Freeport Zone;
6. Poro Point Freeport Zone;
7. Morong Special Economic Zone;
8. John Hay Special Economic Zone;
9. Cagayan Special Economic Zone;
10. Export Development Council;
11. Tourism Infrastructure and Enterprise Zone Authority; and
12. PHIVIDEC Industrial Authority

The mandatory eFPS filing and payment for these enterprises shall take effect 15 days following the publication of RR 1-2010 in a newspaper of general circulation. The regulation was published last Jan. 21, 2010.

These entities need not wait for BIR notification to enroll in the eFPS. In case of failure to file and pay the taxes through eFPS, the BIR may collect a 25 percent surcharge for wrong venue as provided under the 1997 Tax Code, as amended. (Source: Punongbayan & Araullo)