1701, it does not cover all self-employed and professionals. 17-2019, the new form partially replaces BIR Form No. Disseminated under Revenue Memorandum Circular (RMC) No. The first of the Annual ITR forms to be updated was BIR Form No. For the Annual Filing of ITRs, only the rates and forms were affected. Under the tax reform, new rates, forms, and deadlines were implemented. It is especially important to learn about ITRs now in light of the changes prescribed by TRAIN Law. If you had waited for the last minute before filing your returns, then you may not have time to correct them. The BIR might reject your filing if you used wrong and outdated forms, or if you failed to submit attachments. In fact, it is usually better to file your returns and pay the taxes due as soon as possible. Given that “April 15” is a deadline, it is not necessary to wait until the last day to handle your tax filings. For the government, the income tax is where the bulk of the Bureau of Internal Revenue’s (BIR) collections come from. Almost all registered taxpayers are required to pay this tax, with only a few exceptions. ![]() April 15 is the deadline for the most important type of tax payment - the annual filing of income tax returns (ITRs).
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