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In order to provide relief to taxpayers who will not be able to prepare, let alone file, the necessary income tax return documents on or before the original deadline of 15 April 2020 due to the enhanced community quarantine, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular No. 28-2020 (RMC 28-2020) on 18 March 2020.

With the issuance of the RMC 28-2020, all taxpayers are advised that the filing and payment of 2019 Annual Income Tax Returns (AITR) is extended from 15 April 2020 to 15 May 2020 without the imposition of penalties to taxpayers.

Taxpayers may file and pay the taxes due to any Authorized Agent Banks (AAB) nearest to the location of the taxpayer or to any Revenue Collection Officer under the Revenue District Office (file and pay anywhere).

Author

Dennis Dimagiba heads Quisumbing Torres' Tax Practice Group. He advises multinational companies with Philippine operations on general tax planning, customs compliance and valuation issues, and represents clients in tax and customs controversies. He also advises private banks on wealth management and tax and legal issues pertaining to high net worth individuals. He has 35 years of experience in his field, and has been recognized as a leading individual in the area of tax by The Legal 500 Asia Pacific, International Tax Review and Chambers Asia Pacific. Under his leadership, Quisumbing Torres received the awards for National Tax Firm of the Year (2018-2019) and Tax Disputes Firm of the Year 2010 from the International Tax Review. Dennis is a certified public accountant. He has spoken on Philippine tax updates and wealth management issues in various conferences and presentations locally and abroad. He is a member of the Tax Management Association of the Philippines, where he also served as its president in 2012.

Author

Ronald Bernas is a partner in Quisumbing Torres’ Tax Practice Group. He has 21 years of experience advising clients on various tax issues, including general tax planning, tax controversies, tax litigation, and customs issues and procedures.