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Rules on tax deadline extensions released
The Department of Finance (DOF), through Revenue Regulations (RR) No. 7-2020 and authorized by the Bayanihan to Heal As One Act, has extended tax filing and payment deadlines nationwide.
The deadline for filing and paying annual income tax returns for 2019 has been extended from April 15, 2020, to May 15, 2020.
Most other tax filings and payments, including quarterly ITRs, VAT, withholding taxes, and excise taxes due during the national emergency, are granted a 30-day extension from their original due dates.
The submission of various supporting documents, such as financial statements and sales reports, also receives a general 30-day extension.
The DOF urged taxpayers who are able to file and pay their taxes within the original deadlines or as early as possible to do so to help fund urgent government responses to the pandemic.
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