The Bureau of Internal Revenue (BIR) is giving another extension for the settlement of income tax payments for 2019.
Third Extension for Income Tax Payments
Revenue Regulations No. 7-2020
The first extension for income tax payments has been made to provide relief to taxpayers after the original deadline (April 15) has fallen days after the first stretch of the Luzonwide enhanced community quarantine (ECQ).
Revenue Regulations No. 10-2020
However, the deadline has been moved to a later date for the second time as the ECQ was further extended until April 30, 2020.
LATEST: Revenue Regulations No. 11-2020
Now, through Revenue Regulations No. 11-2020 issued last April 29, 2020, BIR is giving taxpayers until June 14, 2020, to settle their accounts, including the filing of income tax returns, without incurring any penalties.
In response to Bayanihan to Heal as One Act & Quarantine Extension
BIR Commissioner Caesar Dulay and Finance Secretary Carlos Dominguez issued Revenue Regulations No. 11-2020 in response to the declaration of the existence of a national emergency in the Philippines caused by the Coronavirus Disease 2019 (COVID-19).
Moreover, the postponement was also brought about by the extension of the enhanced community quarantine (ECQ) in some areas in the country until May 15, 2020.
Another postponement if ECQ is extended further
However, provisions under the said revenue regulations also stated that if the ECQ is extended further after May 15, 2020, the deadline for income tax payments may be moved to another 15 calendar days.
BIR encourages taxpayers to pay online
To avoid huge crowds, BIR has previously requested taxpayers to settle their payments online through the agency’s partner banks and financial institutions.
SOURCE: Bureau of Internal Revenue