BIR extends deadline for enrollment in electronic filing and payment scheme

The Bureau of Internal Revenue (BIR) extended the deadline for companies to be enrolled in its electronic filing and payment system (eFPS) until Aug. 1, 2004.

By Aug. 1, the BIR said that all top 10,000 corporate taxpayers must be eFPS-enabled and ready to file and pay their taxes electronically starting with their July remittances. The original deadline was July 1.

With the extension, companies must work faster to comply with the BIR’s regulation. The mandate covers 40 computerized revenue district offices across the country.

The eFPS facility is an electronic filing and payment system designed to help corporate taxpayers file and pay their taxes conveniently via the Internet.

The eFPS portal features on-line tax forms, which automatically calculates taxes due, generates electronic receipts and transaction confirmations, provides user guidelines and creates online copies of income tax returns.

Upon enrollment in eFPS, companies can then enroll their bank accounts in Taxdirect, Metrobank’s electronic tax payment facility hooked up to BIR’s electronic filing and payment system.

Taxdirect allows Metrobank’s corporate clients to pay at least 13 different taxes online.

The documents that can be submitted electronically through eFPS and taxes paid through Taxdirect include withholding tax returns, income tax returns, value added tax (VAT) returns, and the summary lists of sales and purchases.

With Metrobank Taxdirect, there is no need to type company data every time the next schedule of tax payment arrives. Once the returns are filed through the eFPS, the information needed for payment through Taxdirect is automatically posted. The company can then remit payments through on-line debit from its account.

To enjoy the convenience of paying taxes on-line, a company needs only to enroll first in BIR eFPS. Once approved, it can enroll its Metrobank account in Taxdirect. Once done, it can easily manage its enrolled accounts such as add or delete deposit accounts from which tax payments could be deducted.

Enrollment in and usage of Taxdirect are free of charge.

With Taxdirect’s multi-layered security system, clients are guaranteed security as if they are doing over-the-counter payments.

The Secure Sockets layer encryption and built-in firewall plus, no less than the leading web certificate authority, Verisign, authenticate the Taxdirect website.

Customer access also follows an intricate and multi-layer verification system.

To enroll a Metro-bank account or for more information, log on to www. metro-bank.com.ph or call the Electronic Banking Division at 898-8976, 898-8973, 898-8839, or send an email to [email protected]. For more information on BIR’s Electronic Filing and Payment System (eFPS), visit www.-bir.gov.ph.