BASIS:( REVENUE MEMORANDUM CIRCULAR NO. 28-2014 )
SUBJECT: WAIVER OF PENALTIES FOR ELECTRONIC FILING AND PAYMENT SYSTEM (EFPS)
What is RMC No. 28-2014 all about?
There is a waiver of late penalties imposed on the ITR being filed, during the taxable year ended December 31, 2013 and quarter ended March 31, 2014. These are for those who use the eFPS system of the BIR and filed dated April 16, 2014.
Why there is a waiver?
There was a system downtime yesterday April 15, 2014, due to the volume of the tax payers/filing thru eFPS.
Exceptions and resolution:
The eFPS filers who are enrolled and have manually filed and paid their income tax due for above taxable periods will not be imposed of penalties, and are advice to file again using eFPS until April 25, 2014.