With the April 15 deadline for annual income tax returns (ITRs) fast approaching, Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr. reminded self-employed individuals and online sellers to submit their tax filings on time.
In a Facebook video, Lumagui emphasized that those engaged in online selling and sole proprietorships must file their ITRs using BIR Form 1701.
For businesses earning over PHP 3 million annually, an Auditor’s Report and Financial Statements signed by a BIR-accredited external auditor must also be submitted.
“This ensures transparency, accuracy, and compliance with tax rules for businesses that have grown beyond the VAT threshold,” Lumagui said.
Taxpayers with BIR Form 2307 (Certificate of Creditable Tax Withheld at Source) must attach it to their Form 1701 as proof of tax credits.
The BIR recently conducted a nationwide Friendly Tax Compliance Verification Drive from February 10 to 14, visiting over 24,000 establishments to educate taxpayers.
“The BIR is here to educate, not to penalize. Education leads to compliance. Improved services lead to compliance,” Lumagui added.
In 2024, the BIR exceeded its PHP 2.848 trillion target, collecting PHP 2.852 trillion, a 13% increase from 2023.
