COVID-19 – BIR Releases Updated List of Statutory Filing & Payment Deadlines – 6 May 2020

The BIR has issued Revenue Regulations No. 11-2020 (RR. No. 11-2020) which extend various statutory tax filing and payment deadlines falling due over the coming weeks. The reason why the BIR has released RR. No. 11-2020 is to account for the Government’s extension of the quarantine period up until 15 May 2020.

We have outlined below the key points of information for businesses in the Philippines to consider under RR. No. 11-2020.

1. Revenue Regulations No. 11-2020

The Bureau of Internal Revenue, or BIR, has released Revenue Regulations No. 11-2020. These Regulations have been released pursuant to Section 4(z) of Republic Act No. 11469, otherwise known as “Bayanihan to Heal as One Act”, which declared a state of national emergency in the Philippines in response to COVID-19.

Key points of information:

• RR. No.11-2020 amends certain provisions and tax filing and payment deadlines that were previously contained in RR. No. 10-2020. The reason for this amendment is to account for the extension of the quarantine period, by the Philippine Government, up until 15 May 2020. You can check out our explainer on RR. No. 10-2020 HERE.

• The filing and payment deadline extensions cover the range of corporate tax filings and submissions in the Philippines, including Withholding Tax, Capital Gains Tax (CGT), VAT, Summary List of Sales and Purchases, Audited Financial Statements, Annual Income Tax Return, Compensation Payments, Documentary Stamp Tax (DST) and more.

• Businesses should note that the extensions to the deadline dates apply to both eFPS and non-eFPS filers in the Philippines.

• If there is a further extension of the quarantine period in the Philippines beyond 15 May 2020, the deadline dates listed in RR. No. 11-2020 will be extended by a further 15 calendar days. The BIR notes in RR. No. 11-2020 that this will apply to any form of extended quarantine by the Government (i.e. not just an extended ECQ) as long as any extended quarantine continues to limit business operations and mobility.

• Click HERE to access the full list of extended statutory deadlines for the submission and filing of documents and tax returns, as well as payment of the required taxes, under Revenue Regulations No. 11-2020.

• To stay informed on COVID-19-related insights and updates from the BIR, SEC, DOLE and other government agencies, feel free to check out our COVID-19 Information Resource. This resource is updated regularly!

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