After you are done in the registration of your business in the Bureau of Internal Revenue (BIR), your next dilemma is how to file and pay your taxes. You have 2 ways to file and pay your taxes in the Philippines. The first is via eFiling and Payment System (eFPS) and the second is via eBIRForms.
eFPS: As its name suggests, its main feature is an online filing and payment system. You need an internet connection in using the eFPS. The online payment feature of eFPS, makes it more convenient than eBIRForms.
The following taxpayers are required to use eFPS:
– Large Taxpayers
– Top Twenty Thousand (20,000) Private Corporations
– Local Government Units
– Government Bidders
– Bank Borrowers
– Stock Brokers
– Corporations with Paid-Up Capital Stock of P10 Million Pesos and above
– Taxpayers with Computerized Accounting System (CAS)
– Enterprises Enjoying Fiscal Incentives (i.e. PEZA, BOI Certified, etc.)
– Top Five Thousand (5,000) Individuals
– National Government Agencies
Lately the BIR refuse to accept eFPS application who is not included in the list of taxpayers above. If you want to register in eFPS, you may still try to contact the BIR Revenue District Office (RDO) in your area.
eBIRForms: A software that allows taxpayers to fill up tax forms even without an internet connection. You need an internet connection to file it online. As you have noticed, eFPS and eBIRForms can both file tax forms online. The big difference is in the payment step. In eBIRForms you have to print the tax forms and pay it to the Authorized Agent Bank (AAB) assigned in your RDO.
Tax returns that you filed via eBIRForms can also be paid via Globe GCash Application (See link for reference).
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