Guidelines in Filing Income Tax Return

With less than 2 months until April 15, tax season is once again around the corner. Individual taxpayers
should already be preparing their annual income tax returns, unless you are one of the following
individuals who are not required to file a tax return:

a) Employees earning PHP250,000.00 or less per year (excluding 13 th month pay and other bonuses
amounting to PHP90,000.00);
b) Individuals whose income from 2019 were subject to final withholding tax, such as those who
earned purely from royalties, dividends, or capital gains from the sale of shares or land;
c) Individuals exempt from income tax, including minimum wage earners and OFWs who do not
earn income in the Philippines; and
d) Employees with only 1 employer in 2019 whose income tax has been properly withheld and are
entitled to substituted filing. Please note that those who had at least 2 employers in 2019, either
because you switched employers, or have 2 or more jobs, have to file an income tax return.

All other individuals who do not belong to these categories are required to file an income tax return.

In the meantime, employers are reminded to ensure that the Certificates of Compensation Payment and
Tax Withheld (BIR Form No. 2316) have been furnished to your employees, and have been signed
received by them. These must be submitted to the BIR on or before February 28. Employees, especially
those who are required to file an income tax return, are similarly reminded to ensure that your
employers have furnished you the Certificates of Compensation Payment and Tax Withheld for 2019.