No extension of income tax payment deadline in April 2022 | Inquirer Business

No extension of income tax payment deadline in April 2022

By: - Reporter / @bendeveraINQ
/ 04:41 PM March 16, 2022
No extension of income tax payment deadline in April 2022

The Bureau of Internal Revenue main office in Quezon City. (File photo from Philippine Daily Inquirer)

MANILA, Philippines—There would be no extension of the deadline to pay taxes for 2021, which falls in April this year, as the Bureau of Internal Revenue (BIR) aims to hit its biggest monthly revenue target collection and amid signs of economic recovery.

In a revenue memorandum order, Internal Revenue Commissioner Caesar Dulay tasked BIR revenue officers with collecting P252.6 billion in taxes in April, coinciding with the deadline for filing and payment of annual income tax returns (ITR).

ADVERTISEMENT

In 2020, amid the then most stringent enhanced community quarantine (ECQ) imposed at the onset of the pandemic, the BIR moved the 2019 ITR filing and payment deadline to June as relief to taxpayers restricted from moving around.

Last year, the BIR no longer extended the tax deadline as the economy gradually reopened and quarantine restrictions eased. In 2021, the country’s biggest tax collection agency grew its collections by 6.5 percent to P2.078 trillion, although slightly below the P2.081-trillion target. Pre-pandemic, the BIR collected a record P2.18 trillion in 2019.

FEATURED STORIES

For 2022, the BIR had been tasked with collecting a total of P2.44 trillion in taxes.

The bulk of the BIR’s targeted tax take for 2022 would come from taxes slapped on personal net income and corporate profits, amounting to an estimated P1.23 trillion.

The BIR also intended to collect P501.6 billion in the 12-percent value-added tax (VAT) slapped on consumption, P136.7 billion in percentage taxes, as well as P226.4 billion in other taxes.

At the agency’s 2022 national tax campaign launch earlier this month, Finance Secretary Carlos Dominguez III said the BIR, as the country’s largest tax-collector, must sustain its modernization and digital transformation to facilitate not only transparency but also convenience for taxpayers in order to ramp up collections.

TSB

RELATED STORIES:

BIR to e-sabong operators: Pay your taxes 

BIR warns of penalties vs unregistered, tax-evading candidates, political parties

Duterte nixes suspension of fuel excise tax; OKs P200 monthly subsidy to poor families

Non-filing of income tax return 

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: #COVID19PH, BIR, Caesar Dulay, Carlos Dominguez, income tax, pandemic, PH economy, revenue collection, tax deadline
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.