BIR Issuances – RMC 29-2024

The BIR announced the Extension of the Deadline for the Submission of the Certificate of Compensation Payment/Tax Withheld (BIR Form No. 2316) and Clarification in relation thereof.

Revenue Memorandum Circular (RMC) No. 29-2024

26 February 2024

EXTENSION OF DEADLINE

The deadline of submission of BIR’s copy of BIR Form No. 2316 is hereby extended from February 28, 2024 to MARCH 31, 2024.

CLARIFICATION

BIR emphasized that for purposes of uniformity in the submission of other reportorial requirements in relation to the submission of BIR Form No. 2316, only the following documents shall be required by all Revenue District Offices:

1. Sworn Declaration (Annex “C”) under Revenue Regulations (RR) No. 2-2015; and
2. Certification of the List of Employees Qualified for Substituted Filing of their Income Tax Return (Annex “F”) under RR No. 11-2018.

DISALLOWANCE OF BIR FORM NO. 2316 WITHOUT SIGNATURE OF CONCERNED EMPLOYEE

The BIR stressed that the primary reason for the submission of copies of BIR Form No. 2316 without the signature of the concerned employee under RMC No. 18-2021 was due to the limitations brought by the COVID-19 pandemic. In the light of the current circumstances, the same shall no longer be allowed, more particularly for those employees who are qualified for substituted filing.

Further, those taxpayers who have already submitted the BIR’s copy of the said Certificate using the old format (2018 version) shall no longer re-submit using the new format (2021 version), provided that the computation of the withhold tax reflected in the said form is based on the 2023 income tax rates.

Copy of the RMC can be accessed below.