RMC No. 18-2014: Extends the deadline for the filing of Sworn Declaration of Loss by victims of Supertyphoon Yolanda

Key points

1. Extended deadline. The Sworn Declaration of Loss Arising from Casualty, Theft, Robbery or Embezzlement may be filed until March 31, 2014.
2. Limit of the relief. The relief covers losses of taxpayers in business in Yolanda-affected areas whose books of accounts and relevant records were completely damaged or destroyed. Data reconstruction could not be done within the legal time frame as a result.
3. Not covered. Taxpayers with business in Yolanda-hit areas but with accounting records kept elsewhere, such as branches with centralized records in unaffected areas, are not covered by the extension.

Who is affected

• Taxpayers in business in Yolanda-affected areas whose books and records were completely damaged or destroyed

Deadlines and effectivity

• Filing extended until March 31, 2014