RMC No. 10-2012: Prescribes the transition procedures for all eFPS filers in using the Enhanced Income Tax Returns

Summary

RMC No. 10-2012 prescribes transition procedures for eFPS filers using the enhanced Income Tax Returns (November 2011 ENCS version of BIR Form Nos. 1700, 1701 and 1702 under RR No. 19-2011), since the eFPS versions are still in testing.

Key points

1. Manual filing first. eFPS filers use and manually file the revised forms, with payment to any Authorized Agent Bank within the jurisdiction of the RDO or LTO where they are registered. No-payment returns are filed with the RDO or LTO of registration.
2. Encoding in eFPS later. Once the enhanced forms are available in the eFPS, filers encode the contents of the manually filed return. If available on or before the deadline, encoding is on or before April 16, 2012, and if available after, it is within 10 days from the BIR website announcement.
3. E-payment. E-payment is not required if the tax due on the e-filed return equals the amount previously paid. If the tax due is greater, the unpaid amount is e-paid, subject to applicable penalties if e-filing is after the due date for payment.

Who is affected

• eFPS filers of BIR Form Nos. 1700, 1701 and 1702

Deadlines and effectivity

• Encoding deadline if forms are available: on or before April 16, 2012
• If forms are available later: within 10 days from announcement

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