Faqs on Electronic Filing and Payment System of Bir
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Submitted By FidelRico Words 3160 Pages 13
What is eFPS ? eFPS stands for Electronic Filing and Payment System, and it refers to the 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.
What is e-Filing? e-Filing is the process of electronically filing returns including attachments, if any, specifically through the internet.
What is e-Payment? e-Payment is the process of electronically paying a tax liability through the internet banking facilities of Authorized Agent Banks (AABs).
Why do we need to use eFPS? What are its objectives?
With eFPS, taxpayers can avail of a paperless tax filing experience and can also pay their taxes online through the convenience of an internet-banking service via debit from their enrolled bank account. In addition, since eFPS is available on the Internet, taxpayers can file and pay for their taxes anytime, anywhere as long as he or she is using a computer with an internet connection.
What are the expected benefits of the system?
The eFPS is:
- Convenient to use - it is quick and simple to use, as well as secure.
- Interactive - information exchange is immediate and online, users get immediate feedback from the system when enrolling, e-filing or performing e-payments.
- Self-validating - errors are minimized because all of the information supplied by the taxpayer is validated before final submission.
- Fast - response or acknowledgment time is quicker than manual filing.
- Readily available - eFPS is available 24 hours a day, 7 days a week including holidays.
- Secure - return and payment transactions are more secure, as all data transmission is encrypted.
- Cost effective - processing cost of returns and payments is minimized (e.g. receiving, pre-processing, encoding, error-handling and