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Today’s Top Headlines

Online Income Tax Filing In Philippines By 2014

by Mary Swire,, Hong Kong

23 September 2013

The Philippines Bureau of Internal Revenue (BIR) Commissioner Kim Henares has disclosed that individuals, small business owners and self-employed individuals can expect to be able to file their income tax returns online from April next year.

During the recent Mid-Year Philippine Economic Briefing, Henares said the move to online filing of income tax returns is part of a move to broaden the country's tax base and increase tax revenue, and, in particular, for collections to be increased from the self-employed, small business owners and professionals.

In addition, she indicated that, as part of the development of its information technology capability, the BIR is also studying the possible registration and payment online of other taxes, including capital gains tax, donor's and estate tax, and the various taxes on property.

Henares had previously disclosed in her Commissioner's annual report that the BIR is undertaking an Enhanced Electronic Tax Information System Project in order to upgrade its current tax systems into a unified, web-based automated solution. The electronic filing system will allow all taxpayers to electronically process and transmit tax return information and taxes due via the internet.

TAGS: individuals | capital gains tax (CGT) | inheritance tax | compliance | tax | small business | business | tax compliance | property tax | Philippines | internet | gift tax | individual income tax | Tax

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