Attention all employers in the Philippines! The Bureau of Internal Revenue (BIR) has good news for you. They have extended the deadline for submitting the Certificate of Compensation Payment/Tax Withheld (BIR Form 2316) from February 28, 2024, to March 31, 2024.
This extension provides employers with an additional month to gather and submit the necessary information. This can be particularly helpful for those who may have encountered challenges in compiling the data or require additional time for processing.
Here's a quick summary of the key points:
Original deadline: February 28, 2024
Extended deadline: March 31, 2024
Form: BIR Form 2316 (Certificate of Compensation Payment/Tax Withheld)
What does this mean for employers?
Employers who haven't yet submitted their BIR Form 2316 now have until March 31st to do so without facing any penalties. This gives them valuable time to ensure the accuracy and completeness of their submission.
It's important to note that:
While the deadline has been extended, it's still recommended to submit your BIR Form 2316 as soon as possible to avoid any last-minute complications.
Employers are still responsible for filing their BIR Form 2316 even if they have no employees who are subject to income tax withholding. In such cases, a form with "NONE" written on the appropriate lines should be submitted.
For further information and clarification, you can visit the official website of the BIR: https://www.bir.gov.ph/
By staying informed about these changes and adhering to the deadlines, employers can ensure their compliance with Philippine tax regulations and avoid any potential issues.
(BIR Extends Deadline for BIR Form 2316 Submission)
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