Nation

No more extension for filing of ITR

The Bureau of Internal Revenue said that tax payers need to pay their taxes on time because they will not extend the deadline for it.

The payment for the 2017 annual income tax returns will be on the 16th, since April 15 falls on a weekend.

Under the National Internal Revenue Code of 1997, the deadline for payment of taxes is every 15th of April.

However, the BIR is encouraging tax payers to pay early instead of waiting for the deadline to avoid the hassle and inconvenience because of the long queue on the last day of filing your ITR.

The BIR will impose a 25 percent surcharge, 12 percent interest per annum and compromised penalty for those who will fail to pay their taxes on time.

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