DAVAO CITY — The Department of Finance issued Revenue Regulations (RR) No. 7-2020 dated March 30, 2020, extending the deadlines for filing of tax returns, submission of documents, and the payment of taxes, pursuant to Republic Act No. 11469, otherwise known as “Bayanihan to Heal as One Act.”
“By moving the statutory and regulatory deadlines for tax compliance, we ensure that taxpayers would be able to fulfill their patriotic duty of paying taxes without any risk to their health and safety,” Finance Secretary Carlos Dominguez III explained.
The rules states :
1. Extension of the deadline for filing and payment of the annual income tax return for calendar year 2019 from April 15, 2020 to May 15, 2020;
2. General extension by 30 days of deadlines falling due during the period of the state of national emergency for:
Electronic and non-electronic filing and payment of quarterly income tax returns, monthly and quarterly value-added tax (VAT) declarations, documentary stamp taxes, percentage tax on winnings and prizes withheld by race track operators, withholding taxes on compensation, and creditable and final withholding taxes, as well as monthly excise tax declarations;
Submission of the quarterly summary lists of sales and purchases, sworn statement of manufacturers or importers of excisable products, financial statements for the year 2019, inventory lists, e-Sales reports, summary lists of machines, list of medical practitioners, and certificates of residence for tax treaty relief, as well as the registration of computerized books of accounts and other accounting records; and
Settlement of one-time transactions, submission of assessment-related documents, and other filings and submissions not enumerated in the revenue regulations.
3. Extension of VAT refund applications covering the quarter ending March 31, 2018 from March 31, 2020 to April 30, 2020.
4. Extension of the filing of tax amnesty on delinquencies returns until May 23, 2020.
Aside from moving the deadlines for tax compliance, RR No. 7-2020 also suspends the running of the statute of limitations on assessment notices, warrants of distraint and/or levy, and warrants of garnishment, by 60 days from the lifting of the declaration of a state of national emergency.
“The extension of deadlines under RR No. 7-2020 applies nationwide while the country is in a state of national emergency,” Bureau of Internal Revenue (BIR) Commissioner Caesar Dulay said.
The revenue regulations also provide that the new deadlines may also be further extended if the circumstances warrant such extension.
Dominguez reiterated his appeal to those who are able to file within the deadline or at the earliest possible time to do so through mechanisms that have been made available by the BIR, including online filing and payment platforms.
