Deadline of ITR filing extended to May 15

The deadline for the filing of the 2025 Annual Income Tax Returns will be extended from April 15 to May 15, President Ferdinand Marcos Jr. said.

"Mas may oras ang bawat taxpayer na makapag-file nang maayos, kasama ang lahat ng kailangang dokumento, at walang ipapataw na penalties," he wrote on Facebook on Tuesday.

The President announced taxes may be filed via BIR electronic platforms or authorized agent banks.

This initiative, he said, aims to ease the financial burden on Filipinos during the ongoing fuel crisis.

"Ginawa natin ito para mas magaan ang pagbabayad ng bawat Pilipino, lalo na sa panahong ramdam ang pagtaas ng presyo ng langis. Tuloy-tuloy ang ating ginagawa para maibsan ang bigat sa araw-araw na buhay ng ating mga kababayan," he stated.

This comes a day Marcos has ordered a reduction in excise taxes on liquefied petroleum gas and kerosene.

The Philippines is currently reeling from severe fuel price hikes brought about by the ongoing tensions in the Middle East. The conflict began when Israel, in coordination with the US, launched airstrikes on Iran on Feb. 28, taking out Iranian Supreme Leader Ali Khamenei. Retaliatory attacks have upended the region, as well as markets across the globe.