Summary
RMC No. 26-2021 extends to March 31, 2021 the deadline for submitting reportorial requirements on the Documentary Stamp Tax (DST) exemption for qualified loans under Revenue Regulations No. 24-2020.
Key points
- New deadline. The submission deadline is extended until March 31, 2021.
- What must be submitted. Under RMC No. 22-2021, covered institutions submit, in hard and soft copy, a summary listing of pre-existing loans, pledges and other instruments granted extension of payment and/or maturity periods. This relates to loans or restructured credits falling due, or any part of them, on or before December 31, 2020.
Who is affected
- Covered institutions under RR No. 24-2020
Deadlines and effectivity
- Deadline extended until March 31, 2021
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
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