The Department of Finance (DOF) has issued Revenue Regulations (RR) No. 11-2020 further extending to June or July the deadlines on the filing or submission of necessary documents and/or payment of taxes required under the Tax Code of 1997, as amended.
Such deadlines were extended following President Duterte’s extension of the Enhanced Community Quarantine (ECQ) period in Metro Manila and other major provinces until May 15.
The new RR further extends the deadlines provided under RR No. 10-2020, which amended RR No. 7-2020 on the extension of deadlines for the filing of various tax returns as provided for by Republic Act (RA) No. 11469 or the Bayanihan to Heal As One Act.
Because of the second extension of the ECQ in some parts of the country until May 15, RR No. 11-2020 stretched the filing, submission and payment of various forms and requirements up to June and July 2020.
The RR applies throughout the Philippines and shall generally apply during the “quarantine” period (whether community quarantine, enhanced community quarantine or ECQ, modified community quarantine or general community quarantine or GCQ).
The extended deadlines include the filing and payment of the following:
a. Annual income tax returns (ITRs) for individuals and corporations–June 14;
b. Submission of required hard copies of audited financial statements and other attachments to the annual ITRs–June 30;
c. Quarterly ITRs for individuals and corporations for the quarter ending March–June 14 and June 29, respectively;
d. Monthly VAT returns for March and April–June 4 and June 19, respectively;
e. Quarterly VAT returns for the quarter ending March–June 9; and
f. Quarterly percentage tax return for the quarter ending March–June 9.
Tax returns and payments for one-time transactions (ONETT) whose deadlines fall within the quarantine period are extended for thirty (30) days from the date of the lifting of the quarantine.
Likewise, the RR provides that the deadline for the filing of position papers, protest letters and other correspondences with due dates falling during the quarantine period shall be thirty (30) days from the lifting of the quarantine.
The running of the statute of limitations shall also be suspended during the said period.
Also, taxpayers wishing to avail of the Tax Amnesty on Delinquencies (TAD) under RA 11213 and implemented by RR 4-2019, as amended, can do so until June 22, 2020. The deadline was previously set to June 8.
This extension intends to give taxpayers ample time to settle their tax delinquencies while allowing the Bureau of Internal Revenue (BIR) to increase its collection from the tax amnesty program.
Taxpayers may access RR No. 11-2020 at https://bit.ly/2KTTmZY for a complete list of the extended deadlines.
All other reportorial requirements not specifically mentioned in the RR whose date of submission falls within the quarantine period from March 16, 2020 has an extended deadline of thirty (30) days from the date of the lifting of the quarantine.
In case of any further quarantine extension, the extended deadlines shall be further extended for fifteen (15) calendar days.
Finally, the DOF and the BIR wish to remind the taxpaying public that they may still opt to file and pay their taxes before the extended deadline.
Taxpayers who file their tax returns within the original deadline or before the extended deadline may still amend their tax returns at any time on or before the extended due date.
If the amendment results to additional tax payments, such will not be subject to penalties (surcharge, interest and compromise penalties).
If the amendment results to an overpayment of taxes paid, the taxpayer may opt to either file for a refund or carry over the overpaid tax as credit against the tax due for the same tax type in the succeeding periods’ tax returns.
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