RR No. 10-2020: Amends Section 2 of RR No. 7-2020 relative to the extension of statutory deadlines and timelines for the filing and submission of any document and the payment of taxes pursuant to Section 4 (z) of RA No. 11469 (Bayanihan to Heal as One Act)

Summary

RR No. 10-2020, issued April 14, 2020, amends Section 2 of Revenue Regulations No. 7-2020 by further extending statutory deadlines for filing various tax returns and documents and paying taxes, following the extension of the Enhanced Community Quarantine (ECQ) period until April 30, 2020.

Key points

1. Holidays. If a new extended due date falls on a holiday or non-working day, the filing or submission is made on the next working day.
2. Further ECQ extension. If the ECQ is extended again, filings, tax payments, and submission of reports and attachments in the extended period are extended for thirty (30) calendar days from the lifting of the ECQ.
3. Amending returns. Taxpayers who file within the original deadline or before the extended deadline can amend their returns on or before the extended due date. An amendment with additional tax carries no surcharge, interest or compromise penalties if done not later than the extended deadline.
4. Overpayments. A taxpayer whose amended return results in overpayment can carry the overpaid tax over as credit against the same tax type in succeeding periods’ returns, besides filing a refund claim.

Who is affected

• Taxpayers with deadlines under Section 2 of RR No. 7-2020

Deadlines and effectivity

• ECQ period extended until April 30, 2020
• Further ECQ extension: thirty (30) calendar days from the lifting of the ECQ

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