(Revenue Memorandum Circular No. 16-2024, January 26, 2024)
This Tax Alert is issued to inform all the concerned of the extension of the deadline of submission of the alphalist of employees as attachment to BIR Form 1604-C for the taxable year 2023 from January 31, 2024 to February 28, 2024.
Taxpayers are required to use a new version of the Alphalist Data Entry and Validation Module considering the introduction of the 5% tax credit incentive under Republic Act (RA) No. 9595 (Personal Equity and Retirement (PERA) Act of 2008) and the revised income tax rates for taxable year 2023 under RA No. 10963 (TRAIN Law). The new version of the Alphalist Data Entry and Validation Module is currently not yet available. A separate tax advisory shall be posted on the official website of the Bureau of Internal Revenue (BIR) informing taxpayers of the availability of the updated version of the said module.
For taxpayers with employees availing 5% tax credit under the PERA Act who have not yet submitted their alphalist for the taxable year 2022, the deadline for submission shall be 30 days from the date of posting of the tax advisory on the BIR website announcing the availability of the revised data entry module.