LTFRB Income Tax Return Filing Rules

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LTFRB MEMORANDUM CIRCULAR NUMBER 2006 - 074: LTFRB Income Tax Return Filing Rules

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Title Supreme Court: LTFRB Income Tax Return Filing Rules

Law: Ltfrb Memorandum Circular Number 2006 - 074

Decision Date: Dec 29, 2006

Operators of public utility vehicles must submit their Income Tax Returns by May 15 each year, with a penalty of Php 250 for late submissions, and failure to comply will prevent vehicle registration confirmation.

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Amendment to Submission Deadline and Penalty Provisions

Operators of public utility vehicles must submit their Income Tax Returns to the Bureau of Internal Revenue (BIR) on or before May 15 of each year.
Failure to submit the ITR on time incurs a penalty of Php 250.00 per year.
If the penalty is paid but the ITR is still not submitted, the operator’s unit/s will not be confirmed for registration until the ITR is filed.

Policy Considerations and Coordination with Government Agencies

The Board emphasizes coordination with other government agencies to support government programs.
The requirement and penalty serve to enforce compliance and facilitate proper regulation.

Supersession and Effectivity

This Memorandum Circular supersedes any previous inconsistent issuances.
The circular becomes effective fifteen (15) days after publication in a newspaper of general circulation or the Official Gazette.

Signatories and Adoption

Adopted on December 29, 2006.
Signed by the Chairman and Board Members of the Land Transportation Franchising and Regulatory Board (LTFRB).

END