Tax Notes

Extension of submission of sworn declaration of inventory of diesel, gasoline, kerosene

IN line with the Jan. 3, 2020 release of Revenue Memorandum Circular (RMC) 2-2020 requiring all retail/gasoline stations nationwide to submit a sworn declaration of inventories of diesel, gasoline and kerosene as of Dec. 31, 2019, the Bureau of Internal Revenue (BIR) recently issued RMC 6-2020 to inform concerned revenue district offices (RDOs) on the extension of the deadline for submitting the year-end sworn declaration of inventories to Jan. 31, 2020.

Moreover, all RDOs have been directed to submit electronic copies of the consolidated sworn declaration of inventories to the Excise Large Taxpayers Field Operations Divisions on or before Feb. 5, 2020 to the dedicated email address fuel_eltfod@bir.gov.ph with the Chief of the Regional Investigation Division copied.

Please be guided accordingly.

Source:

P&A Grant Thornton

 

As published in SunStar Cebu, dated 28 January 2020