Completion and Filing of Return<\/span><\/strong><\/p>\n Tax Return \u2013 Individuals (BIR60)<\/strong> Property Tax Return (BIR57 or BIR58)<\/strong> Profits Tax Return (BIR51 or BIR52 or BIR54)<\/strong> Failure to Submit Tax Return<\/strong>
\nIf you receive Tax Return \u2013 Individuals (BIR60) from the Inland Revenue Department, you must complete, sign and file it in time even if you do not have any income to report.
\nIf you are married for all or part of the year and have elected joint assessment or personal assessment or have been nominated by your spouse to claim home loan interest deduction, your BIR60 should also be signed by your spouse.<\/p>\n
\nYou have to report income from property jointly owned or co-owned by yourself with other person(s) in the Property Tax Return (BIR57).
\nOther person(s) including corporation and body of persons.
\nTo report income from property held by corporations or bodies of persons, you have to complete Property Tax Return (BIR58).<\/p>\n
\nIf you carry on a trade, profession or business in the form of a corporation, partnership business or if a non-resident person is chargeable to profits tax in your name, you must complete all items in the following profits tax returns (if applicable) to report the profits tax liability:
\n\uff08\uff11\uff09Profits Tax Return – Corporations (BIR51)
\n\uff08\uff12\uff09Profits Tax Return – Persons Other Than Corporations (BIR52)
\n\uff08\uff13\uff09Profits Tax Return – In Respect Of Non-Resident Persons (BIR54)<\/p>\n
\nIn all cases if you cannot lodge a tax return by the due date or the extended due date, estimated assessment will be issued and you may be required to pay more tax. You may also be subject to penalty proceedings which include payment of penalty, or even prosecuted.<\/p>\n<\/div><\/div><\/div>