Summary
RMC No. 92-2020 further extends from August 31, 2020 to September 30, 2020 the no-penalty deadline for business registration of those in digital transactions under RMC Nos. 60-2020 and 75-2020.
Key points
- No penalty for late registration. Those engaged in digital or online transactions who register their business activity on or before September 30, 2020 are not penalized for late registration.
- Voluntary declaration of past transactions. Taxpayers with prior taxable transactions are encouraged to declare them and pay the taxes due. No penalty for late filing and late payment applies if this is done on or before the extended date.
- Later findings. Those found later doing business without complying with registration or update requirements, and those who failed to declare past due or unpaid taxes, face the applicable penalties under the law and existing revenue rules.
Who is affected
- Persons engaged in digital or online transactions
Deadlines and effectivity
- No-penalty deadline moved from August 31, 2020 to September 30, 2020
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.