Search for:

On 23 March 2020, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 30-2020 to address the inadvertent errors it made on the extended due dates in the filing of returns and payment of the corresponding taxes indicated in RMC No. 29-2020.

The revised schedule in the attached Annex A amends and clarifies the provisions on the filing deadlines covered by the previous RMCs.

The required attachments for the Annual Income Tax Return shall be submitted on or before 15 May 2020.

For One Time Transactions (ONETT), if the date for its payment falls due within the Enhanced Quarantine Period (ECQ), the period to file the return and pay the corresponding tax due thereon is extended for 30 calendar days from its due date.

However, if the ECQ will be extended further, the filing of returns and payment of the corresponding taxes due thereon, and submission of reports and attachments falling within the extended ECQ period shall also be extended by 30 calendar days.

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.

Author

Alexander Ner is an associate in Quisumbing Torres’ Tax Practice Group. He has handled tax advisory work involving various corporate transactions such as mergers, acquisitions, corporate restructuring and other special projects. He has also worked on tax litigation cases involving claims for refunds and assessments and has advised clients on matters involving customs and international trade.