RMC No. 82-2020: Prescribes the guidelines on the use of the eAFS System for the submission of attachments to the Income Tax Returns of taxpayers Fiscal Year Accounting Period and in the submission of attachments to the quarterly Income Tax Returns

Summary

RMC No. 82-2020 prescribes the guidelines on using the electronic Audit Financial Statements (eAFS) System to submit attachments to the Income Tax Returns (ITRs) of fiscal year taxpayers and to the quarterly ITRs.

Key points

1. Who uses eAFS. All concerned taxpayers using the eAFS System, whether or not registered under the Large Taxpayers Service, scan the required documents. They follow the procedures specified in the Circular.
2. Keeping originals. Taxpayers keep the original copies of the digitally submitted documents for the period prescribed in RR No. 17-2013, under Section 203 of the NIRC. They present them to the BIR upon request.

Who is affected

• Taxpayers with a Fiscal Year Accounting Period using eAFS
• Taxpayers submitting attachments to quarterly ITRs through eAFS

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