BIR activates online interactive forms for income tax returns

In time for the deadline for the filing of annual income tax returns (ITRs) on April 16, interactive versions of the ITR forms can be downloaded from the website of the Bureau of Internal Revenue (BIR).   The ITR forms for wage earners, self-employed, partnerships, and corporations are also available in Microsoft Excel (.xls) and Adobe Acrobat (.pdf) formats.  

Filing of ITRs are not required for the following:   a. An individual who is a minimum wage earner   b. An individual whose gross income does not exceed his total personal and additional exemptions   c. An individual whose compensation income derived from one employer does not exceed P 60,000 and the income tax on which has been correctly withheld   d. An individual whose income has been subjected to final withholding tax (alien employee as well as Filipino employee occupying the same position as that of the alien employee of regional headquarters and regional operating headquarters of multinational companies, petroleum service contractors and sub-contractors and offshore-banking units, non-resident aliens not engaged in trade or business)   e. Those who are qualified under “substituted filing”.   According to the BIR, 17 million tax returns were filed in 2010 and 13.47 percent of them—roughly 2.3 million—were for income taxes. — ELR, GMA News