Filing of tax

My cousin who just started to be a working student currently busy with her requirements. One of her requirement is the application of TIN (tax identification number). When I was a working student before, I was lucky that my employer is the one who process my TIN application together with the other newly hired employees.

I remember before the accountant who processed the documents for the TIN application was very busy. She looks so haggard because aside from the processing of TIN application , she was also on a hurry to meet the deadline for the filing of annual income tax during that time. She said that here in the Philippines, the procedure for filing tax is a long process. That was before more than 12 years ago. I happen to visit Bureau of Internal Revenue website  and browse to check what’s new. Currently, they have the efps (Electronic Filing and Payment System) by which it is a system developed and maintained by the Bureau of Internal Revenue (BIR) for electronically filing tax returns, including attachments, if any, and paying taxes due thereon, specifically through the internet. In the progressive countries like US, their system was really advanced and they have the process to file tax extension electronically. With this system, taxpayers can avail of a paperless tax filing experience. It is convenient to use, interactive,  readily available 24 hours a day and cost effective.