THESE Bureau of Internal Revenue (BIR) tax filing/payment and submission guidelines are updated as of April 1, 2020 with the issuance of Revenue Regulations (RR) 7-2020, Revenue Memorandum Circular 34-2020 and Tax Advisory dated March 30, 2020.
The recent BIR issuances, among others, have extended the deadline to June 1, 2020 for submitting attachments to the e-filed annual personal and corporate income tax returns for the taxable year ending December 31, 2019, and suspended the running of the statute of limitations in assessing and collecting deficiency taxes during the emergency period until 60 days from the lifting of the period of emergency. Taxpayers are also instructed to disregard the penalties automatically computed by the electronic filing and payment system (eFPS).
Please be guided accordingly.
P&A Grant Thornton
Certified Public Accountants
As published in SunStar Cebu, dated 08 April 2020