[Ask the Tax Whiz] What are the annual tax deadlines for 2023?

What are the tax-related dealings to look out for in 2023?

Taxpayers need to be mindful of the tax deadlines if they want to avoid unnecessary fines and penalties. For 2023, here are the deadlines for the various requirements to be be filed with the BIR:

The deadline for filing the ITR on April 15, 2023, falls on a Saturday. Would the deadline for filing be moved to the next working day?

Yes, the deadline would be moved to the next working day, which would be April 17, 2023, Monday. To reiterate, the rule is that if the deadline falls on a weekend or on a holiday, the deadline is automatically moved to the next working day. Still, it would be prudent to file on or before the deadline set by the BIR, so that you do not have to rush your tax filings.

What are the other annual requirements that I need to comply with for my business? Are there any penalties for non-compliance with the other government agencies?

Aside from compliance with the annual BIR requirements, businesses also need to secure their barangay clearance as well as their business or mayor’s permit. Generally, the deadline for the renewal of business permits is on every 20th day of January.

Failure to renew your business permit would subject your business to a 25% surcharge penalty and an interest at the rate not exceeding 2% per month of delay. However, in no case shall the total interest on the unpaid amount exceed 36 months. This penalty is imposed by the respective LGU which has jurisdiction over your business.

What’s more, you could also be liable to the BIR for the “unlawful pursuit of business.” Under Section 258 of the Tax Code, you will be imposed a fine of P5,000 to P20,000 and an imprisonment of six months to two years.

If anything is still unclear to you, you can download TaxWhizPH Mobile App and use its AskTheTaxWhiz feature or the unli-chat to ask your questions. You may also book a consultation with our tax experts using the app. – Rappler.com