Tax Alert No. 30 [Revenue Memorandum Circular (RMC) No. 43-2021 dated 31 March 2021]

14 Apr 2021

Prescribing the Revised Guidelines on the use of the Electronic Audited Financial Statements (eAFS) System, amending for that purpose RMC Nos. 49-2020 & 82-2020

The Commissioner of Internal Revenue (“CIR”) has issued RMC 43-2021 to provide for the revised guidelines in the use of the eAFS System in the submission of duly filed Income Tax Return (ITR) and its required attachments, including BIR Form No. 1709.

Accordingly, all concerned taxpayers submitting documents through eAFS System shall scan the documents for submission and observe the following procedures specified in the RMC:

For submission of attachments to the ITR, the following naming convention shall be observed:
- File 1 - Income Tax Return: EAFSXXXXXXXXXITRTYMMYYYY
- File 2 - Audited Financial Statements: EAFSXXXXXXXXXAFSTYMMYYYY
- File 3 - Form 1709: EAFSXXXXXXXXXRPTTYMMYYYY
- File 4 - Tax Credits: EAFSXXXXXXXXXTCRTYMMYYYY-01
- File 5 - Other Attachments: EAFSXXXXXXXXXOTHTYMMYYYY
  
  Where :
  - XXXXXXXXX is the 9-digit TIN
  - TY is the placeholder for Taxable Year to identify it as annual submission; regardless if fiscal or calendar year submission
  - MM is the month end of the taxable year
  - YYYY is the year ended
  - 01 is the first file of other attachments up to 99 (applicable only for File 4 - Tax Credits)
In submitting the attachments to the ITR, the documents indicated in the RMC shall be scanned and classified with the corresponding naming conventions. Please refer to Annex “A” for the naming convention.