No More Extension of Income Tax Payment on June 14, 2020
The original deadline for income tax payments was pushed back thrice already, first to May 15, 2020 then to May 29, 2020 and finally to June 14, 2020.
According to the Bureau of Internal Revenue (BIR) this June 14, 2020 deadline will no longer be extended even if the community quarantine will be prolonged.
Thus, on 21 May 2020, the BIR issued Revenue Regulation No. 12-2020 (RR No. 12-2020) which, among others, repealed Section 3 of RR No. 11-2020. Under this latest regulation, the tax agency voided a provision on its earlier issuance which stipulated that so long as the community quarantines are extended, tax payment cut-offs would be deferred. As it now stands, the defined extended due dates under RR No. 11-2020 shall remain in effect regardless of any extension or modification of quarantine.
Since the provided due date for income tax payment is June 14, 2020 which falls on a weekend, the same shall be moved to June 15, 2020, Monday, being the next working day.
For reference, listed below are the respective due dates of some other taxes:
Under the latest regulation, taxpayers are again reminded to pay the respective returns on or before the deadlines. The Taxpayers are likewise reminded that if they file their tax returns within the original deadline or prior to the extended deadline, they 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 can still be paid without the imposition of corresponding penalties (surcharge, interest and compromise penalties) if the same shall be done not later than the extended deadlines as provided under existing rules and regulations.
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 claim for refund.
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