RMC No. 28-2018: Advises taxpayers to disregard the penalties computed by the Electronic Filing and Payment System (eFPS) in BIR Form Nos. 1602 and 1603 of the eFPS

Key points

1. Why the eFPS shows penalties. The deadlines in the eFPS for these forms are still being updated, so it computes penalties against the old due dates.
2. Old deadlines. Form 1602 was due on or before the 10th day of the following month in which withholding is made. Form 1603 was due on or before the 10th day of the month following the calendar quarter in which the fringe benefits were granted.
3. Updated deadline under the TRAIN Law. The updated deadline is not later than the last day of the month following the close of the quarter during which withholding was made.
4. Late filing or payment. Anything filed or paid after the updated deadline carries the penalties computed by the eFPS from the updated due date until actual payment.

Who is affected

• Taxpayers filing BIR Form Nos. 1602 and 1603 through the eFPS

Deadlines and effectivity

• Payment on or before the updated deadline under the TRAIN Law