EFPS definition

EFPS means the Electronic, Filing and Payment System facility developed and maintained by the Bureau of Internal Revenue (“BIR”) for the electronic filing of tax returns and payment of taxes of eligible taxpayers.
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Examples of EFPS in a sentence

  • The COMPANY shall ensure that it is eligible under the law to enrol, and be enrolled in the BIR EFPS prior to availing itself of the BIR Tax Payment Facility.

  • Clarifications affecting all AABs shall be disseminated to the AAB member, copy furnish the BAP; Ensure utmost confidentiality of data and information provided by the AAB in connection with this Agreement; Notify the AAB of the applied float period for both EFPS and Over-the-Counter (OTC) transactions.

  • The BIR Tax Payment Facility enables the COMPANY to effect payments of its taxes with corresponding electronic tax returns under the BIR EFPS by issuing Payment Instructions.

  • The COMPANY shall also ensure that all its duly Authorized Representatives are knowledgeable with the use and operation of the EFPS and BIR Tax Payment Facility before any tax payments transactions contemplated hereunder could be undertaken in the Facility.

  • The COMPANY shall be responsible for all the amounts it declared through the BIR’s EFPS.

  • Such funds held in trust must then be considered as separate from other funds in its custody; Authorize the Bangko Sentral ng Pilipinas (BSP) through its Accounting Department, to debit its Demand Deposit Accounts (DDA) corresponding to the total daily collections due for remittance depending on the float period for EFPS and OTC as notified by the BIR, such amount to be credited by BSP to the “Special Account-BIR Collection” of the Treasurer of the Philippines.