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RMC No. 98-2020: Clarifies the submission of BIR Form No. 1709 or the Related Party Transaction (RPT) Form and its attachments, as prescribed in Revenue Regulations No. 19-2020

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Summary

RMC No. 98-2020 clarifies the submission of BIR Form No. 1709 (Related Party Transaction, or RPT, Form) and its attachments under RR No. 19-2020, and further extends the deadlines for fiscal years ending March 31, 2020 and later.

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Key points

  1. FY ending March 31 and April 30, 2020. The extended deadline is December 29, 2020.
  2. FY ending May 31 and June 30, 2020. The extended deadline is January 31, 2021.
  3. FY ending July 31 and August 31, 2020. The extended deadline is March 1, 2021.
  4. FY ending September 30 and October 31, 2020. The extended deadline is March 31, 2021.
  5. FY ending November 30, 2020, calendar year 2020. The extended deadline is April 30, 2021.

Who is affected

  • Taxpayers filing BIR Form No. 1709 as an attachment to the Annual Income Tax Return

Deadlines and effectivity

  • FY ending March 31 and April 30, 2020: December 29, 2020
  • FY ending May 31 and June 30, 2020: January 31, 2021
  • FY ending July 31 and August 31, 2020: March 1, 2021
  • Later fiscal years and calendar year 2020: March 31, 2021 and April 30, 2021

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.

Related issuances (2)

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CitesRMC No. 76-2020RR No. 19-2020

Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.