PHI Tax Extension of Banking Hours

On Feb. 20, PHI Tax issued bulletin re acceptance of tax returns.

  • PHI Tax issued a bulletin to authorized agent banks (AABs) regarding acceptance of tax returns/payments of internal revenue taxes, and extension of banking hours in Apr.
  • Document dated Feb. 20, 2024, received from PHI Tax Mar. 1, summarized on Mar. 5.
  • Directives
  • AABs must open two Saturdays before the Apr. 15 annual income tax deadline, and extend hours from 3:00pm to 5:00pm during the period from Apr. 1 to tax deadline.
  • AABs advised to open and accept tax payments on Saturday Apr. 6, and Apr. 13, 2024.
  • Income tax payments accepted on Apr. 6 and 13 are to be reported in batch control sheet (BCS) as collection for the following working day, Apr. 8 and 15, respectively.
  • Machine validation of annual income tax return in deposit slip and submission of BCS, along with supporting income tax returns/attachments, to follow existing procedures.

Regulators PHI Tax
Entity Types Bank
Reference Bul 2024-1, 2/20/2024
Functions Compliance; Financial; Operations; Tax; Treasury
Countries Philippines
Products Banking
Regions AP
Rule Type Final
Rule Date 2/20/2024
Effective Date 4/15/2024
Rule Id 203085
Linked to N/A
Reg. Last Update 2/20/2024
Report Section International

Last substantive update on 03/06/2024