The go-to firm for Corporate, Taxation, Negotiation, Visa and Immigration concerns.

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Unit 1202 Tycoon Centre Bldg. Pearl Drive
Brgy., San Antonio Ortigas Center,
1611 Pasig City, Philippines
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CONTACT US

Phone : +632 86953262
Email: mfl@mflegal.com.ph
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MFBR lawyers and associates care!

In light of the constantly changing social and economic landscape in the world due to COVID-19, everyone at Mallari Fiel Brillante Ronquillo has taken steps to make good our steadfast commitment to serve our clients and our communities.

To this end, we designed a new business model incorporating the traditional “brick and mortar” and “virtual” law offices. This new model is to achieve the continuity of rendering our legal and business consultancy services to clients and friends, and the immediate implementation of our crisis management and business transformation activities.

Thus, we’re glad to announce that for every fortnight, half of our team will be physically present at our offices from Monday thru Friday, 8:00am to 3:00pm. Clients and our friends can reach us through our office phones and online platforms (website, emails, Facebook, LinkedIn, Zoom, etc.). And to ensure the health and safety of our staff, they have the option to be housed in the Firm’s private residence or shuttled back and forth using the company’s private vehicle. Safety protocols are also observed at our offices.

Finally, our team has prepared a series of materials around the impact of COVID-19 and related considerations. Please take time to view our sample articles and research published in our website. A complete listing and discussion of these articles are available in our newsletter to be distributed to our esteemed clients.

Should you have questions, please reach out to our Office Manager, Argie Macawile, at +632 86953395, +63977 8502357; or email our Managing Partner, Atty. Rob Mallari, at mfl@mflegal.com.ph and rpmallari@mflegal.com.ph.

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NON-IMPOSITION OF PENALTIES FOR FILING OF AMENDED INCOME TAX RETURN AND OTHER TAX RETURNS BEFORE THE EXTENDED DEADLINE

By Atty. Jonathan R. De Guzman

On 06 April 2020, The Bureau of Internal Revenue issued Revenue Memorandum Circular No. 37-2020 (RMC No. 37-2020)  implementing additional guidelines on the filing and payment of tax returns without the imposition of penalties.

The RMC No. 37-2020 addresses the concerns of the taxpayers who intend to file and pay their tax returns within the original deadline or prior to the extended deadline but have not yet finalized their financial statement or returns. They feared that should they do so, the same might result in the imposition of additional penalties or non-recovery of taxes paid.

Hence, the following guidelines:

Taxpayers who have already filed their tax returns within the original deadline or at anytime before the extended deadline can amend their tax returns at anytime before the extended deadline or due date.

  • In case the amended tax return resulted to underpayment of taxes due, the amendment will not be subject to the corresponding taxes, ie., surcharge, interest and penalties, if the same was made before the extended deadline as provided for by the existing rules.
  • In case the amended tax return resulted to overpayment of taxes due, the taxpayer either:
    • carry over the overpaid taxes as credit agains the tax due for the same tax type for the succeeding taxable return period; or
    • file for tax refund.

Further, since BIR Form 1701 is not yet available in Electronic Filing and Payment Systems (eFPS),  Individuals (including Mixed Income Earner), Estates and Trusts, Taxpayers shall use the Offline EBIRForms Package Version 7.6 to file the said tax return. Payment shall be made either manual payment (ie, bank, authorized agents) or online payment as prescribed by the existing rules and regulation.

For queries, updates and other legal concerns, you may contact us from Mondays to Fridays, 9:00 AM to 6:00 PM, through the following:

Email: mfl@mflegal.com.ph;
Website: http://mfbr.com.ph;
Facebook page: http://mfbr.com.ph/

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As a rapidly growing, highly qualified group of lawyers, associates, accountants, consultants and paralegals we are dedicated to finding innovative and swift solutions to all our clients' concerns.