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Manila Bulletin devider Philippines devider 3 deadlines for filing quarterly income tax returns - BIR

3 deadlines for filing quarterly income tax returns - BIR

Published May 27, 2020 12:00 am
By Jun Ramirez The Bureau of Internal Revenue (BIR) has set three deadlines in the filing of the 2020 quarterly income tax returns by corporations, partnerships and other non-individual taxpayers. Bureau of Internal Revenue (MANILA BULLETIN) Bureau of Internal Revenue (MANILA BULLETIN) The clarification was issued to guide business taxpayers the schedule of filing and paying the quarterly income tax as well as the other tax types under Revenue Regulations (RR) 11-2020. For those with fiscal quarter ending January 31, 2020 the deadline is May 30. Likewise, the filing of returns for taxpayers with fiscal year ending February 29 is June 13. The third deadline is June 29 for those whose first fiscal quarter ends on March 31which applies to most businesses. The BIR said the returns shall also include the summary alpha list of withholding taxes. Revenue Regulations (RR) No. 12-2020 states that if the deadline falls on a holiday or non-working day it is automatically moved to the next working day. The BIR reminded taxpayers that the deadlines will no longer be re-extended and returns submitted after the due date will be subject to surcharge, interest and compromise penalties. (Jun Ramirez)#
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