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RMC No. 29-2024: Extension of the deadline for the submission of the Certificate of Compensation Payment/Tax Withheld (BIR Form No. 2316) and clarifications in relation thereof

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Summary

RMC No. 29-2024 extends the deadline for submitting the Certificate of Compensation Payment/Tax Withheld (BIR Form No. 2316) from February 28, 2024 to March 31, 2024, and clarifies related requirements.

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Key points

  1. Documents required by RDOs. Only two documents are required: the Sworn Declaration (Annex C) under RR No. 2-2015, and the Certification of the List of Employees Qualified for Substituted Filing of their Income Tax Return (Annex F) under RR No. 11-2018.
  2. Unsigned copies. Submitting copies of BIR Form No. 2316 without the employee’s signature, allowed under RMC No. 18-2021 because of COVID-19 limits, is no longer allowed for employees qualified for substituted filing.
  3. Old format already submitted. Taxpayers who submitted the BIR’s copy in the old format (2018 version) need not resubmit in the new format (2021 version), provided the withholding tax computation is based on the 2023 Income Tax rates.

Who is affected

  • Employers submitting BIR Form No. 2316
  • Employees qualified for substituted filing

Deadlines and effectivity

  • New deadline: March 31, 2024 (from February 28, 2024)

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.

Related issuances (3)

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CitesRMC No. 18-2021RR No. 11-2018RR No. 2-2015

Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.