The Bureau of Internal Revenue (BIR) has released the tax due dates for July 2023. Taxpayers are reminded to file their returns and pay their taxes on time to avoid penalties.
Here are the important tax due dates for July 2023:
Taxpayers can file their returns and pay their taxes online through the BIR's eTax system. They can also file their returns and pay their taxes at any BIR office.
The BIR reminds taxpayers to file their returns and pay their taxes on time to avoid penalties. Penalties for late filing and late payment of taxes can be as high as 25% of the amount due.
For more information on the tax due dates for July 2023, taxpayers can visit the BIR website or call the BIR hotline at 1-800-8-888-BIR (247).
Here are some tips for filing your taxes on time:
Start early. Don't wait until the last minute to file your taxes.
Gather all of your required documents.
Make sure you know the correct tax forms to file.
Double-check your calculations.
File your taxes online or at a BIR office.
Here are some of the penalties for late filing and late payment of taxes:
For late filing of returns: 25% of the amount due.
For late payment of taxes: 20% of the amount due, plus interest at 20% per annum.
For failure to file returns: 50% of the amount due, plus interest at 20% per annum.
Taxpayers who are unable to pay their taxes in full on the due date may request for a payment extension. To do this, they must file a written request with the BIR at least 15 days before the due date.
Thinktank is committed to helping taxpayers comply with their tax obligations. If you have any questions about the tax due dates for July 2023, please do not hesitate to contact us.
(July 2023 Tax Due Dates in the Philippines)