Companies and businesses in the Philippines will have no more extensions, of Tax Deadlines, not Quarantine Lockdowns. While the national government has extended the Enhanced Community Quarantine a further 15 days until May 31st, (making Manila one of the longest lockdown Cities in the world) the Bureau of Internal Revenue of BIR has said it will not push filing deadlines any further even in the event of a lockdown extension.
Internal Revenue Deputy Commissioner Arnel S.D. Guballa said on Wednesday, “The Government needs funds”.
“There’s still a quarantine. It’s just that we won’t allow an extension.”
Previously the BIR has already extended the previous April 15th deadline for the filing of Income Tax Returns several times. The last extension came through RR 11-2020 until June 15th, however, there was a line in the revenue regulation that reads “in case of another quarantine extension, defined extended due dates… shall be allowed further extension of 15 calendar days.” One could take this to mean that even if the Enhanced Community Quarantine is extended businesses in the Philippines will have at least 15 days to file after the lifting, but Commissioner Guballa said that this rule will be amended.
It appears the government will really impose the filing and paying of taxes even if companies are just getting back to work from the ECQ. With this deadline now fast approaching is your organization ready for tax filing?
For assistance with Income Tax Reporting, payroll, and bookkeeping and accounting services please contact Triple i Consulting at info@tripleiconsulting.com for more information.
