Lunes, Abril 8, 2013

Deferral of additional disclosure requirement in ITR


The additional disclosure requirement under BIR Forms 1700 and 1701 has been further deferred to taxable year 2013. Thus, for taxable year 2012, the disclosure of supplemental information shall be optional for individual taxpayers who are required to file their income tax returns on or before April 15, 2013.

The disclosure requirement, however, shall become mandatory for income tax filing covering and starting calendar year 2013 for which a return is required to be filed in 2014.

(Revenue Memorandum Circular No. 21-2013, February 28, 2013)
Tax Brief – March 2013
Punongbayan and Araullo

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