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Annual ITR: Portion of Tax Payable Allowed for Installment
Annual ITR: Portion of Tax Payable Allowed for Installment

Did you know you could pay in two instalments?

EJ Arboleda avatar
Written by EJ Arboleda
Updated over 4 years ago

You can pay your Annual Income Tax Due in TWO payments. The second payment can be up to 40% of the total annual income tax due. It is due on or before October 2020.

For example:
Your total annual income tax due is P100,000.00
You can choose that your second payment is, say 40% of your total due which is P40,000.
So you pay P60,000 for this filing due on April (year of filing).
Then you pay P40,000 on or before Oct (year of filing).

Before the deadline of the second payment, you'll be prompted with a tax card regarding the second payment of your ITR. Same procedure with your other forms, you Click, Review and Pay.
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Also sharing with you a step-by-step guide in filing your ITR: https://txmo.co/EasyAnnualTaxVideo

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