Tax Notes

Deadline for registering online business further extended to Sept. 30, 2020

THE Bureau of Internal Revenue (BIR) has issued Revenue Memorandum 92-2020 on Sept. 1, 2020 to all those concerned regarding the further extension of deadline for registering online business and paying taxes on past transactions without penalty.

Under RMC 06-200, all persons doing business and earning income in any manner or form, specifically those into digital transactions with any electronic platforms and media, and other digital means, have been allowed to register their businesses and pay taxes on past transactions without penalty. From the previous extended deadline of Aug. 31, 2020, online sellers are now given until Sept. 30, 2020 to register and pay taxes without penalty.

Please be guided accordingly.

Source:

P&A Grant Thornton

 

As published in SunStar Cebu, dated 09 September 2020