RMC No. 43-2012: Announces to all eFPS filers the availability in the eFPS facility of the Enhanced Annual Income Tax Return (BIR Form No. 1702) prescribed under RR No. 19-2011

Key points

1. Encoding the filed return. All eFPS filers must encode the contents of the return previously filed on or before August 31, 2012. The form covers calendar year 2011 onward and juridical entities starting with those covered ending January 31, 2012.
2. ePayment. ePayment is no longer required if the tax due on the e-filed return equals the amount previously paid. If it is greater, the taxpayer e-pays the unpaid amount, with applicable penalties if e-filing is after the due date for payment of income tax due.
3. Filing Reference Number. A Filing Reference Number (FRN) is generated as proof that the Bureau received the return, and the taxpayer prints it for future reference. The Proceed to payment button is enabled only if tax is still payable, and existing ePayment procedures then apply.
4. Tax treaty relief. Taxpayers availing of tax relief under a Special or International Tax Treaty follow the procedures specified in the Circular.
5. Schedules and attachments. Schedules and attachments such as Financial Statements, the Statement of Management Responsibility and BIR Form 2307 should have been filed with the Large Taxpayers Office or Revenue District Office where registered. This is due within 15 days after the initial filing of the Annual Income Tax Return, and late filing is penalized.

Who is affected

• eFPS filers
• Juridical entities covered by the return

Deadlines and effectivity

• Encode previously filed return on or before August 31, 2012
• Schedules and attachments: within 15 days after initial filing