BIR extends ITR filing deadline to May 30

THE Bureau of Internal Revenue (BIR) has moved to May 30 the deadline for the filing of 2019 income tax returns (ITR), after the government extended the enhanced community quarantine (ECQ) in Luzon until end-April.

Signed on April 14, the BIR issued Revenue Regulations (RR) No. 10-2020 which extended anew the deadline for the filing and payment of ITRs, which was originally scheduled on April 15 and then extended to May 15 due to the ECQ.

“In consideration of the extension of the ECQ period until April 30, 2020, these regulations are hereby promulgated to amend certain provisions of RR No. 7-2020, particularly on the extension of deadlines to submit, file, and/or pay the necessary documents and/or taxes required under the Tax Code, as amended as well as in the existing revenue regulations,” the regulation read.

BIR said taxpayers who are able to file “can amend their tax returns at any time” before the new due date. Amendments that will result in additional tax payment will not incur penalties, including surcharge, interest and compromise penalties if it will be paid within the extended deadline, it added.

For the fiscal year ending Jan. 31, filing and payment of annual ITR can be done until June 15, extended from the original schedule of May 15.

Likewise, application for value-added tax (VAT) refund claims covering the quarter ending March 31, 2018 and April 30, 2018 can be done until May 15 and May 30, respectively, or 30 days after the lockdown is scheduled to be lifted.

Payments for donor’s and estate tax returns can be done 30 days from the date when the ECQ is lifted, BIR said.

The regulation also set new deadlines for other returns and documents, including the monthly and quarterly VAT declarations; monthly remittance of percentage tax on winnings and prizes withheld by racetrack operators.

For instance, filing of monthly VAT declarations for February and March could be filed from May 6-10 and May 21-25, respectively, while filing of quarterly VAT returns for quarter e nding Feb. 29 March 31 was extended until May 10 and May 25, respectively.

Deadline for submission of tax amnesty on delinquencies returns was also extended further to June 8 from the previous extended schedule of May 23 from April 23, originally.

Submission deadlines for various documents such as a summary list of sales and sworn statements were also moved to May 10 for the fiscal quarter ending Feb. 29, and May 25 for the quarter ending March 31.

The BIR also extended anew the deadline of submission for other returns, including the following:

• certification of compensation payment (new deadline: May 15);

• documentary stamp tax declaration (May 20);

• financial statements for the year 2019 (May 15);

• inventory lists (May 15 for quarter ending Feb. 29 and May 30 for quarter ending March 31);

• monthly e-Sales reports (May 23-25);

• withholding tax remittance return for national government agencies (May 25)

• excise tax return for mineral products (May 25);

• application for tax credits or refunds covering the period of March 17, 2018 to April 30, 2018 (May 31).

“If the ECQ period will be extended further, the filing of the returns and payment of the corresponding taxes due thereon, and submission of reports and attachments falling within the enhanced extended period shall be extended for 30 calendar days from the lifting of the ECQ,” it added. — Beatrice M. Laforga