There are many ways to file your taxes. You may do so the traditional way and visit the Revenue District Office (RDO) to where you or your business is registered. However, if the manual method is too cumbersome and time-consuming for you, you may also opt for the more convenient option, which is filing through the online Bureau of Internal Revenue (BIR) portal.
Even tax and audit services in the Philippines suggest this method because it makes things a lot easier for you. All you have to do is register your business and secure the correct forms. If you’re confused, you can seek guidance from professional tax services in Manila. Learn more about this method in this article:
What is the EBIRForms All About?
Ever since October of 2014, the BIR has required online tax filing for non-eFPS (Electronic Filing and Payment System) eligible taxpayers and duly accredited tax agents. This other online filing system can be easily done through eBIRForms.
If you are unfamiliar with what eBIRForms is, it is the BIR operated electronic service that allows all taxpayers, individuals or companies, to file and pay for their taxes online. This is different to the manual tax filing process as it can be done from home or the office without need to visit an Accredited Agent Bank or to the local BIR office.
Many tax and accounting services in Pasig highly recommend this for busy entrepreneurs who don’t have the luxury of time to head to the RDO. This saves on many resources and is a lot easier to do because there are no lines to contend with. Everything happens with the aid of the internet, making it very convenient. So why not take advantage of this and use it as a leverage.
Who are Required to Use eBIRForms
All individuals who fall under the 2015 revenue regulations are generally required to use eBIRForms as they are not mandated to use the eFPS. This includes:
– LGUs
– Accredited Tax Agents
– Real Estate Agents
– Corporations that report to government
– Utility administration cooperatives
– Realtors who are one-time transaction taxpayers
– Accredited principal and secondary invoice or receipt printers
– People filing for “No Payment Return
Parts of the eBIRForms
Noteworhty, the eBIRForms can be broken down into two parts. Take a look at them below:
1. Online eBIRForms System
Online eBIRForms pertain to the system or online infrastructure that accepts, processes, and stores tax returns and transaction information. This secure and high-tech system that allows for online tax payment and filing.
2. Offline eBIRForms Package
The offline eBIRForms package simply pertains to the offline tax preparation software. Accredited Tax Agents utilize this package to fill up forms offline. The forms are downloadable so that you can work for them regardless of internet connection. After filling up the form packages, all you need is to submit these forms to the BIR online portal.
How to File Your eBIRForms
Taxpayers who wish to use the eBIRForms must access the offline software package to start filing. Noteworthy, eBIRForms does not currently work on Mac software. The step-by-step process of filing through eBIRForms is as follows:
1. Download the eBIRForms offline package
2. Install the eBIRForms software and click the icon on your computer
3. Enter all required fields and important background information, like your TIN, RDO, and the likes.
4. Select the BIR Form that you wish to fill up
5. Encode information requested on the required fields
6. Go to the computation portion of the software and place your income on “taxable amount.” You can confirm this amount with your accountant, but generally, you will input gross income or income before tax.
7. Click “save and validate”
8. After successfully being validated, print 3 forms to be presented at Authorized Agent Banks.
9. Visit the previous page so the software can automatically submit your forms to the BIR alongside the email address you have encoded.
10. Wait to receive an email confirmation.
11. Should you receive the confirmation, the last step is to pay through authorized agent banks or through the e-wallets that are allowed.
If you want to take advantage of this very convenient system but feel reluctant because you still feel unsure about what to do, give our team a call. We provide trustworthy tax and accounting services in the Philippines. Our reliable team can help you sort things out to make sure you’ve got the correct returns and supporting documents. This will mitigate any problems, making sure you can avoid penalty charges, arrears, and other fines. Call us today to take advantage of our free 30-minute consultation.
