(Revenue Memorandum Circular No. 74-2020, issued on July 22, 2020)
This Tax Alert is issued to inform all concerned on the amendment on the period of suspension of the running of the statute of limitations.
The running of statute of limitations shall be suspended starting March 16, 2020 until the lifting of the enhanced community quarantine (ECQ) and for 60 days thereafter. This shall apply to areas placed under ECQ.
Previously, under RMC No. 34-2020 and subsequent revenue issuances, the running of the statute of limitations is until 60 days after lifting of the state of national emergency and applies nationwide.
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