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BIR extends due date for payment of taxes, filing of documents

The Bureau Internal Revenue (BIR) has extended the statutory deadlines and timeline for the filing and submission of any document and payment of taxes amid the implementation of quarantine measures to contain the coronavirus disease 2019 (COVID-19) spread.

In its Revenue Regulations No. 11-2020, the BIR said the extension is pursuant to Section 4 (z) of Republic Act No. 11469 or the Bayanihan to Heal as One Act and in consideration of the extension of quarantine period until May 15, 2020.

“The extension of the dates shall be made available throughout the Philippines. If the new extended due date falls on a holiday or non-working day, then the submission and/or filling contemplated herein shall be extended,” the BIR said.

“In case of another quarantine extension, defined extended due dates under Section 2 of these Regulations shall be allowed further extension of 15 calendar days,” it said.

The following are the statutory deadlines for the submission and/or filing of the documents and/or returns as well as the payment of taxes as extended:

"While the deadlines are extended, the Bureau acknowledges that some taxpayers wish to file and pay taxes early but have not yet finalized their financial statements and/or returns," the BIR said.

The taxman said that taxpayers who will file their tax returns within the original deadline or prior to the extended deadline can amend their tax returns at any time on or before the extended due date.

"An amendment that will result in additional tax to be paid without the imposition of corresponding penalties (surcharges, interest, and compromise penalties) if the same shall be done not later than the extended deadline as provided under existing rules and regulations," the BIR said.

"A taxpayer whose amended returns will result in overpayment of taxes paid, can opt to carry over the overpaid tax as credit against the tax due for the same tax type in the succeeding periods' tax returns, aside from filing for refund," it said. -MDM, GMA News