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Thursday, April 15, 2004
Last day for tax returns
TODAY is the last day to file income tax returns (ITR), the Bureau of Internal Revenue (BIR) said.
Those who file their returns and pay their taxes after today will suffer a 25 percent surcharge and interest rate of 20 percent.
The BIR also clarified that those earning P100,000 and below still have to file ITRs unless they qualify under the Tax Code for non-filing or are eligible for substituted filing.
The self-employed who earn P100,000 and below must still file ITRs. They are exempt only from registration fee and business tax, receipt issuance, keeping of books of accounts, and financial statement filing.
(April 15, 2004 issue)
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