Villanueva urges BIR to extend tax filing deadlines for businesses

Senator Joel Villanueva urged the Bureau of Internal Revenue (BIR) to extend the deadline for filing and payment of all other tax liabilities, not just income tax returns.

Villanueva thanked the BIR for extending the deadline for filing of income tax returns (ITR) from April 15 to May 15, acknowledging the enhanced community quarantine in Luzon.

He specifically mentioned tax protests, documentary stamp tax, capital gains tax, donor's tax, and monthly/quarterly tax filings as other liabilities that should have extended deadlines.

The senator highlighted that businesses are closed and public transportation is suspended due to the quarantine, making it difficult for taxpayers to comply with existing deadlines.

Villanueva explained that tax protests are time-sensitive, and missing the deadline can make the assessment final, requiring individuals to gather documents typically found in offices.

He acknowledged that extending deadlines could lead to a revenue shortfall but stressed the importance of allowing citizens to stay home to curb the spread of COVID-19 and reduce the strain on the healthcare system.

Villanueva believes that granting a payment holiday will encourage taxpayers to remain in their homes during the quarantine.

He appealed for a concerted effort to keep people at home and alleviate their anxieties during this period.

However, Villanueva also encouraged those who are able and ready to pay their taxes to utilize the BIR's electronic payment channels, as the government needs funds to combat COVID-19.