Summary
RMC No. 44-2021 amends RMC No. 76-2020 to include submission of BIR Form No. 1709 (Information Return on Transactions with Related Party) through the electronic Audited Financial Statement (eAFS) System.
Key points
- Where to file. Taxpayers listed in Section 2 of Revenue Regulations No. 34-2020 may file the Related Party Transactions (RPT) Form at their RDO or through the eAFS System, at their option.
- Manual submission. Manual filers submit the RPT Form with the Annual Income Tax Return (AITR) and attachments at the LT Division or RDO. Without tax payable, this is within fifteen (15) days from the statutory due date or electronic filing date of the AITR, whichever is later. With tax payable, it is through an Authorized Agent Bank on or before the statutory due date.
- Electronic filers submitting manually. They submit the hard copy to be stamped Received at the LT Division or RDO within fifteen (15) days from the statutory due date or electronic filing date of the AITR, whichever is later.
- Submission through eAFS. For those using eAFS, whether manual or electronic filers, the e-mail confirmation with a system generated Transaction Reference Number is proof of submission instead of the Received stamp. Submission is made within fifteen (15) days from the statutory due date or electronic filing date of the AITR, whichever is later.
Who is affected
- Taxpayers enumerated under Section 2 of Revenue Regulations No. 34-2020
Deadlines and effectivity
- Within fifteen (15) days from the statutory due date or electronic filing date of the AITR, whichever is later
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
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.