EOPTA Revenue Regulations No. 4-2024: Filing of Tax Returns and Declaration of Taxable Income

These Revenue Regulations address how to file tax returns, pay taxes, and other considerations related to reporting taxable income.

Electronic Filing and Payment:

• Taxpayers must file their tax returns electronically using available electronic platforms.

• If electronic platforms are not available, manual filing of tax returns is acceptable.

1. Electronic Filing – Submitting tax returns and paying taxes through the BIR’s electronic platform (e.g., eBIRForms), ePayment Channels of authorized agent banks (e.g., LinkBiz, PesoNet, UPay, MyEG, etc.), and ATSP (for specific returns as certified by BIR).
   
2. Manual Filing: Submitting tax returns in writing or using electronic equipment, with submission and payment made in person at authorized agent banks or revenue collection officers. Revenue collection officers can accept cash payments up to Php 20,000, while checks are accepted regardless of the amount.

• Tax payments can be made electronically through available platforms, or manually at authorized agent banks or revenue collection officers.

Acceptance of Manual Payments:

Authorized agent banks and revenue collection officers will only accept manual tax payments after taxpayers have electronically filed their tax returns, unless otherwise directed.

Income Tax Returns for Married Individuals:

Married individuals who are both self-employed, in business or the practice of a profession, must file a joint return for the taxable year. If businesses are registered under different RDOs, each spouse files separately.

Penalty for Incorrect Filing:

No civil penalty will be applied if a return is submitted to an internal revenue office other than those required.

Individuals Exempt from Filing Income Tax Returns:

1. Individuals earning purely compensation income with taxable income not exceeding Php 250,000.
   
2. Individuals whose income tax has been correctly withheld by their employer and have only one employer for the tax year.
   
3. Minimum Wage earners as defined in the regulations.
   
4. In these cases, the Certified List of Employees Qualified for Substituted Filing of Income Tax Returns will serve as the substituted filing.
   
5. Individuals whose sole income has been subjected to Final Withholding Tax.
   
6. Overseas Filipino Workers (OFWs) and Overseas Contract Workers (OCWs).

Tax Compliance Needs?

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