26/02/2024
π’ Important Announcement from the Bureau of Internal Revenue (BIR) π’
Great news! The BIR has recently issued Revenue Memorandum Circular (RMC) No. 29-2024, extending the deadline for the submission of the Certificate of Compensation Payment/Tax Withheld (BIR Form No. 2316) from February 28, 2024, to March 31, 2024.
To ensure uniformity in the submission of other reportorial requirements, all Revenue District Offices (RDOs) will now only require the submission of the Sworn Declaration (Annex "C") under Revenue Regulations (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.
π« Please note: The submission of copies of BIR Form No. 2316 without the employee's signature, as per RMC No. 18-2021, will no longer be allowed, especially for those eligible for substituted filing.
Also, for convenience, taxpayers who have submitted their BIR's copy of the 2316 forms using the old format (2018 version) need not resubmit using the new format (2021 version), provided that the withholding tax computation reflects the 2023 income tax rates.
This update aims to streamline and simplify the submission process. For more details, please refer to the official announcement on the BIR website.
-2024