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COVID-19: Philippines Further Extends Multiple Tax Deadlines

by Mary Swire, Tax-News.com, Hong Kong

15 May 2020


The Philippines has announced that it will again extend tax filing and payment deadlines, following the prolongation of restrictive measures during the coronavirus outbreak.

The filing and payment deadline for annual income tax returns for individuals and corporations has twice been extended, in the first instance from April 15, 2020, to May 15, and then to May 30. It has now been extended to June 14. The deadlines for filing and payment of quarterly income tax returns for individuals and corporations for the quarter ending in March 2020 have been extended to June 14 and June 29, respectively.

The filing and payment deadlines for monthly VAT returns for March and April, 2020, are now June 4 and June 19, respectively; the deadline for quarterly VAT returns for the quarter ending in March 2020 is June 9. The deadline for quarterly percentage tax returns for the quarter ending in March 2020 is June 9.

Tax returns and payments for one-time transactions whose deadlines fall within the quarantine period are extended for 30 days from the date of the lifting of the quarantine. The deadline for the filing of position papers, protest letters, and other correspondence with due dates falling during the quarantine period will also be 30 days from the lifting of the quarantine.

The deadline for taxpayers to avail themselves of the Tax Amnesty on Delinquencies has been extended from June 8 to June 22, 2020.

TAGS: individuals | compliance | tax | value added tax (VAT) | tax compliance | revenue guidance | corporation tax | Philippines | ministry of finance | transfer pricing | tax breaks | individual income tax

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