Pay taxes early to avoid inconvenience: BIR director-A A +A
Sunday, February 16, 2014
THE Bureau of Internal Revenue (BIR) 13 will open its income tax filing period on March 5 at the SM Trade Hall with the theme “I love the Philippines, I will pay my taxes right.”
BIR 13 Director Hermino A. Paramine told Sun.Star Cebu they are urging taxpayers to file their income tax return as early as March 5 and avoid doing it on the deadline on April 15 for their own convenience.
“If they file their income tax early, it’s as easy as register, file and pay. So why wait for the deadline of filing of income tax returns on April 15?”, Paramine said.
The BIR director said they are inviting all students from the different schools to participate in their “Infomercial” and present videos and visuals like the advertisements in television that will describe the BIR theme.
He said that the students may submit their entries now because the judging will be done before March 5 and the winners will be announced during the kick off.
“We have already sent to the schools the mechanics so that interested students will be guided,” Paramine said.
Paramine declined to comment on the controversial new guidelines in filing income tax return because he has yet to read it.
A congressman from Valenzuela, Metro Manila opposed to the new income tax guidelines because it includes stating how much deposits are in the banks which is a violation of the bank secrecy law.
Paramine, meanwhile, said the BIR is also focusing on the collection of estate tax for deceased persons who left estates to their heirs.
Last year, Paramine said Department of Finance (DOG) Secretary Cesar Purisima and BIR Commissioner Kim Henares said that nationwide, there is low compliance on estate taxes.
Paramine said that once a person will die, his heirs must report his death to the BIR within six months from the date of death otherwise they will be penalized equivalent to 25 percent of the tax due.
Published in the Sun.Star Cebu newspaper on February 17, 2014.