tax alert special edition vol. 2 contents · 2020. 5. 8. · bureau of internal revenue (bir) ......

Contents:

• BIR Issuances

• SEC Issuances

• DOLE Issuances

• DOF Issuances

Tax Alert Special Edition Vol. 2 April 2020

Bureau of Internal Revenue (BIR) Issuances

Full Deductibility of Specific Donations/ Gifts Already Exempt from Donor’s Tax Under the Law.................... 1 Clarification in the Exemption from Documentary Stamp Tax the relief for loans granted under RR No. 8-2020 .................................................................................................................................................................... 2 Clarification in the Exemption from Documentary Stamp Tax Relief for Qualified Loans pursuant to RR No. 8-2020 and RMC No. 35-2020 ........................................................................................................................... 2 Clarification on Filing of Tax Returns and Payment of Taxes Before the Extended Deadline ......................... 3 Extension of Period to Withdraw Protest/Appeal in order to Qualify for Tax Amnesty ..................................... 3 Further Extension of the Due Dates for the Submission and/or Filing of Certain Documents and/or Returns as well as Payment of Certain Taxes under RR No. 7-2020 ............................................................................. 3 Extension in the Time of Application for new Authority to Print Receipts/Invoices of Taxpayers ..................... 4 Prescribes the Guidelines in the Filing and Payment of Income Tax Returns for Taxable Year 2019 ............. 4 Guidelines in the Acceptance of Payment of Internal Revenue Taxes During the Enhanced Community Quarantine period (ECQ) ................................................................................................................................... 5 Amendment of Section 2 of RR No. 7-2020 relative to the RA No. 11469 (Bayanihan to Heal as One Act) ... 6

Securities and Exchange Commission (SEC) Issuances

Alternative Mode of Complying on the Conduct the Annual Stockholder’s Meeting (ASM) ........................... 16 Expansion of Mandatory Grace Period for Loan Payments during the Enhanced Community Quarantine Period ................................................................................................................................................................ 16 Summary of Guidelines on the Filing of Reports and Other Documents During the Enhanced Community Quarantine ........................................................................................................................................................ 17

Department of Labor and Employment (DOLE) Issuances

Guidelines on Payment of Holiday Pay ............................................................................................................ 19 Guidelines on Probationary Employment Period during ECQ ......................................................................... 19 Guidelines on Workplace Prevention and Control of COVID-19 ..................................................................... 19

Department of Finance (DOF) Issuances

Extension of Deadlines for the Payment of Taxes, Fees and Charges LGUs ................................................ 20

Contents

1 | T a x A l e r t

Full Deductibility of Specific Donations/ Gifts Already Exempt from Donor’s Tax Under the Law (Revenue Regulation No. 09-2020, April 7, 2020)

When given for the sole and exclusive purpose of combatting COVID 19 during the period of the state of national emergency under R.A. 11469, the following shall be fully deductible against the gross income of the donor-Corporation/donor-individual:

a. Cash donations; b. Donations of all critical needed healthcare equipment or supplies (as enumerated in the RR) c. Relief goods such as, but not limited to, food packs (rice, canned goods, noodles, etc.) and water; and d. Use of property, whether real or personal (shuttle service, use of lots/ buildings);

Donations under b and c shall not be treated as a transaction deemed sale subject to VAT under Section 106 of the NIRC, as amended. Furthermore, any input VAT attributable to such purchase of goods shall be creditable against any other output VAT. To be entitled to full deductibility, said donations must be made to the following with the corresponding supporting documents:

Donee-Recipient Documentary Requirements

for Donee- Recipient

Documentary Requirements for Donor

-Accredited non-stock, non-profit educational and/or charitable, religious, cultural or social welfare corporation, institution, foundation, non-government organization, trust or philanthropic organization and/or research institution or organization -Non-stock, non-profit educational and/or charitable, religious, cultural or social welfare corporation, institution, foundation, non-government organization (even if non accredited), to include those organized and exclusively for health purposes such as private hospitals, trust or philanthropic organization and/or research institution or organization

Liquidation report (Annex A of the RR)

1) Sworn Certification (Annex B) executed by the President of the donor-corporation or any of its authorized officers or by the donor-individual himself stating the following:

a. name of the donee b. date of donation c. value of the donation d. statement that the donation was made solely for the purpose of supporting efforts to fight COVID 19 during the period of the state of national emergency together with the proof of purchase (if donation is in kind)

2) BIR registered Acknowledgment Receipt or the template for an acknowledgment receipt under Annex C hereof

-Local private corporation or international organizations/ who serve as conduit with accredited NGOs and/or -National government or any entity created by any of its agencies which is not conducted for profit, or to any political subdivisions of the said Government

1) Liquidation Report (Annex A) 2) Certificate of BIR Donation (BIR Form 2322) or Deed of Donation

1) Certificate of Donation or Deed of Donation duly issued by the accredited NGO or government institution respectively in the name of the donor-corporation/individual 2) Proof of purchase (if donation is in kind) 3) BIR registered Acknowledgment Receipt or the template for an acknowledgment receipt under Annex C hereof to be issued by the ultimate beneficiary

BIR Issuances

2 | T a x A l e r t

The above- mentioned requirements shall be submitted to the respective Revenue district Officer (RDO) where the donor and the donee-recipient are registered in accordance with the form attached within sixty (60) days from the lifting of the Enhanced Community Quarantine (ECQ).

Clarification in the Exemption from Documentary Stamp Tax the relief for loans granted under RR No. 8-2020 (Revenue Memorandum Circular No. 35-2020, April 2, 2020)

All banks, quasi-banks, financing companies, lending companies, and other financial institutions, public and private, including GSIS, SSS and Pag-ibig Fund, in extending the grace period for the payment of all loans shall not impose additional documentary stamp tax (DST) imposed under Section 179, 195 and 198 of the NIRC, for credit restructuring, micro lending including those obtained from pawnshops and extensions thereof during the covered period.

Clarification in the Exemption from Documentary Stamp Tax Relief for Qualified Loans pursuant to RR No. 8-2020 and RMC No. 35-2020 (Revenue Memorandum Circular No.36-2020, April 6, 2020)

Tax Treatment

There shall be no additional DST under Section 179, 195 and 198 of the NIRC, for credit restructuring, micro lending

including those obtained from pawnshops and extensions thereof during the ECQ period. The new loan principal

shall not be subject to DST.

The same tax treatment shall apply to all extension of payment and/or maturity periods of all pre-existing loans,

including but not limited to salary, personal, housing, and motor vehicle loans, falling due within the ECQ period.

Further Guidance:

1. Credit extensions:

a. Pre-existing loans that fall due on ECQ period where interest is paid but the principal is converted to a new

loan with maturity date. The new loan principal and the renewal of the loans mortgage, pledge, deed of trust

shall be exempt from DST.

b. Pre-existing loans that fall due on ECQ period where interest is paid but the principal is rolled over or

renewed as a new loan principal in accordance with a pre-agreed roll over arrangement and collateral

documentation thereof prior to the COVID -19 situation shall remain subject to DST

2. Credit restructuring:

a. Pre-existing loans that fall due on ECQ period where both the principal and interest are not paid but are

consolidated and converted into a new principal loan with a maturity date and the renewal or extensions of

the loans mortgage, pledge, deed of trust shall be exempt from DST.

b. Pre-existing loans that fall due on ECQ period where there is payment of interest and partial payment of

principal on maturity while the remaining unpaid principal is converted into a new loan principal with a new

maturity date and the renewal or extensions of the loans mortgage, pledge, deed of trust shall be exempt

from DST.

Fresh loan availments, top up to existing loans and new drawdowns during the ECQ period and its collateral

documentation remain subject to DST, as applicable.

Reportorial Requirements

The covered institutions shall submit in hard and soft copy, a summary listing of all pre-existing loans, pledges, and

other instruments as of March 17, 2020 which were granted extension of payment and/or maturity periods based on

the following format:

Name of Taxpayer Summary Listing Pre-existing Loans, Pledges, and Other Instruments with Granted

Extension of Payment and/or Maturity Periods As of March 17, 2020

3 | T a x A l e r t

Type of Instrument

Date of Loan Agreement/Promissory

Note , Pledge, etc.

Document Reference Number

(Account ID/Reference

ID as applicable

Original Payment Deadline Maturity Period

Extended Payment Deadline/ Maturity Period

Amount of Loan/Pledge

The above summary listing shall be submitted to the RDO where the covered institution is registered within sixty (60) days from the lifting of the ECQ. The hardcopy together with the photocopies of documents evidencing the credit extensions and credit restructuring shall be made under oath as to the completeness, truth, and accuracy by a duly authorized officer or representative of the taxpayer.

Clarification on Filing of Tax Returns and Payment of Taxes Before the Extended Deadline (Revenue Memorandum Circular No. 37-2020, April 6, 2020)

Taxpayers who file their tax return within the original deadline or prior to the extended deadline can amend their tax return at anytime on or before the extended due date. An amendment that will result to additional tax to be paid shall not be subject to corresponding penalties (surcharge, interest and compromise) if the same is done not later than the extended deadline. A taxpayer whose amended returns will result to overpayment of taxes paid, can opt to carry over the overpaid tax credit as against the tax due for the same tax type in the succeeding period’s tax returns. For individuals, Estate and Trust the January 2018 version of BIR Form 1701 is not yet available in eFPS. eFPS filers shall use the Offline eBIRForms Package Version 7.6. As a consequence, payment for the income tax liability shall be made through manual or online payment.

Extension of Period to Withdraw Protest/Appeal in order to Qualify for Tax Amnesty (Revenue Memorandum Circular No. 38-2020, April 8, 2020)

This issuance further extends the deadline for availment of Tax Amnesty on Delinquencies from May 23, 2020 until June 8, 2020.

Further Extension of the Due Dates for the Submission and/or Filing of Certain Documents and/or Returns as well as Payment of Certain Taxes under RR No. 7-2020 (Revenue Memorandum Circular No. 39-2020, April 8, 2020)

The “extended due dates” enumerated in Sec.2 of RR no. 7-2020 are further extended for period of fifteen (15)

calendar days, except those where extended due dates granted reckoned from the lifting of the ECQ as follows:

Type of Transaction/ Document Reference Original Due Date Extended Due Date

Filing of Position Paper to Notice of Informal conference, etc. up to other similar letters correspondences with due dates

Section 2 (items 41 to 46) of RR 7-2020

Filing date falls due during the emergency period starting March 16, 2020

Thirty (30) days from the date of the lifting of the period of emergency

Suspension of Running of Limitations under Section 203 and 222 pursuant to Section 223 of the Tax Code as amended.

Section 2 (item 49) of RR 7-2020

Before the expiration of the Statute of Limitations

Sixty (60) days after the lifting of the order of state of emergency

The extension of the statutory deadline enumerated above shall be made applicable throughout the Philippines.

4 | T a x A l e r t

Extension in the Time of Application for new Authority to Print Receipts/Invoices of Taxpayers (Revenue Memorandum Circulars No. 41-2020, April 8, 2020)

The issuance provides for the extension of time to file the application for new Authority to Print Receipts/Invoices of

taxpayers with expiring principal and supplementary receipts/invoices and extends the use of expired principal and

supplementary receipts/invoices.

The filing of the application for new ATP for expiring principal and supplementary receipts/invoices where the expiration

date(s) falls within the ECQ is extended until May 13, 2020 or for thirty (30) days after the lifting of the ECQ (if

extended), whichever comes later, without imposition of the penalties to the taxpayer.

The use of expired principal and supplementary receipts/invoices that falls within the period of ECQ is extended until

May 13, 2020 or for thirty (30) days after the lifting of the ECQ (if extended), whichever comes later provided, that:

1. The taxpayer cannot apply for new ATP due to ECQ or has been filed but the accredited printer cannot deliver

the receipts/invoices to the taxpayer due to ECQ;

2. Receipts/invoices to be issued/used shall be stamped “Emergency Extension for Use Until May 13, 2020” (if

extended the date shall be thirty (30) days after the last day of the ECQ)

Prescribes the Guidelines in the Filing and Payment of Income Tax Returns for Taxable Year 2019 (Revenue Memorandum Circular No. 42-2020, April 17, 2020) Taxpayers who will be filing manually or will be using Offline eBIRForms Package or are enrolled under Electronic Filing ang Payment System (eFPS), shall file and pay in accordance with the table below:

Taxpayer/Filer BIR Form No. Filing Instructions Payment Instructions

Individuals earning purely compensation whose income tax has been correctly withheld (tax due equals tax withheld)

1700 January 2018

(ENCS)

If the employee availed of the substituted filing, no need to file a return.

For Manual and eBIRForms Filers

a.) Manual Payment

− Any Authorized Agent Bank (AAB); or

− In places where there are no AABs, the tax due shall be paid with the concerned Revenue Collection Officer (RCO) under the RDO.

b.) Online Payment ** − Thru Mobile Payment

(GCash/Pay Maya); or

− Landbank of the Philippines (LBP) Link.BizPortal, for taxpayers who have ATM account with LBP and/or holders of Bancnet ATM/Debit Card or for taxpayers utilizing PesoNet (depositors of Rizal

Individuals earning purely compensation with two or more employers

1700

January 2018 (ENCS)

• Manual Filers – use the pre-printed return available in the Revenue District Office (RDO) or the downloadable return found in the BIR website or the return in the Offline eBIRForms Package v7.6. The package can be downloaded in the BIR website. a.) With tax due/payment – − Pre-printed Return available in the

RDO Fill-out all applicable fields then file the return with any Authorized Agent Bank (AAB) or to the Revenue Collection Officer (RCO) under the RDO

− Return downloaded from the BIR

website Print the return and fill-out all the applicable fields then file the return with any AAB or to the RCO under the RDO

Non-Resident Alien not engaged in trade or business in the Philippines receiving income from sources within the Philippines

1700

January 2018 (ENCS)

Individuals with business/practice of profession income only and the method of deduction used is itemized deduction

1701 January 2018

(ENCS)

Individuals with business/practice of profession income and at the same time with compensation income (mixed income earner)

1701 January 2018

(ENCS)

5 | T a x A l e r t

Estates engaged in trade or business

1701 January 2018

(ENCS)

− Return in the Offline eBIRForms Package v 7.6 Fill-out the return then after successful validation print the return and file with any AAB or to the RCO under the RDO

b.) Without tax due/payment - manual filing not allowed. The “no payment” return shall be filed thru the Offline eBIRForms Package v7.6 by submitting the return online

• eBIRForms Filers/Users– use the

Offline eBIRForms Package v7.6 in filling-out the return. The package can be downloaded in the BIR website, and if: a) With tax due/payment – after

filling-out the return, submit the return online then print the return and the Tax Return Receipt Confirmation from the eBIRForms System. File the return, together with the Tax Return Receipt Confirmation with any AAB or to the RCO under the RDO. If availing of online payment, AITR shall be submitted online.

b) Without tax due/payment – file the “no payment” return thru the Offline eBIRForms Package v7.6 by submitting the return online

• Electronic Filing and Payment System (eFPS) Filers/Users of the following: a.) BIR Form Nos. 1700, 1701 and

1701A- With or Without tax due/payment- file thru the Offline eBIRForms Package v 7.6 by following the procedure stated in the eBIRForms Filers/Users

b.) BIR Form Nos. 1702-EX, 1702-MX and 1702-RT - With or Without tax due/payment- file thru the eFPS Facility by using the old version of the returns (June 2013 version) in the eFPS

Commercial Banking Corporation (RCBC) and Robinsons Bank); or

− Development Bank of the Philippines (DBP) Tax Online, for taxpayers- holders of VISA/ Master Credit Card and/or Bancnet ATM/ Debit Card; or

− Union Bank Online Web and Mobile Payment Facility, for taxpayers who have account with Union Bank.

** Taxpayers who

shall pay their tax due online are required to file the corresponding Annual Income Tax Return (AITR) online through the Offline eBIRForms Package v7.6

For eFPS Filers – ePay through the eFPS Facility

Trusts engaged in trade or business

1701 January 2018

(ENCS)

Individuals with business/ practice of profession income only and the method of deduction used is optional standard deduction

1701A

January 2018 (NEW)

Individuals with business/ practice of profession income only and opted to avail of 8% flat income tax rate

1701A January 2018

(NEW)

Corporation, Partnership and other Non-Individual who are subject only to regular income tax rate of 30%

1702-RT January 2018

(ENCS)

1702-RT June 2013 (old

version)

Corporation, Partnership and other Non-Individual who are exempt from income tax or subject to 0% (e.g. PEZA registered business with ITH, BOI registered business with ITH, GPP, cooperatives, etc.)

1702-EX January 2018 (ENCS) v.2

1702-EX June 2013 (old version)

Corporation, Partnership and other Non-Individual who are subject to: Special Rate of 5% or 2%, etc. (with or without Regular IT Rate of 30% and/or Exempt or 0%)

1702-MX January 2018 (ENCS)

1702-MX June 2013 (old version)

Guidelines in the Acceptance of Payment of Internal Revenue Taxes During the Enhanced Community Quarantine period (ECQ) (Revenue Memorandum Circular No. 43-2020, April 17, 2020)

Tax Payers during this ECQ may:

1. Pay taxes at the nearest Authorized Agent Banks (AAB’s) regardless of RDO jurisdiction; 2. File and Pay to the Revenue Collection Officers of the nearest RDO, even in areas where there are AAB’s. In

this instance, cash payments is limited to Php20,000 only while check payments have no limitation as to the amount.

6 | T a x A l e r t

Amendment of Section 2 of RR No. 7-2020 relative to the RA No. 11469 (Bayanihan to Heal as One Act) (Revenue Regulation No. 11-2020, April 14, 2020)

This Revenue Regulation extends the following statutory deadlines for the submission and/or filing of the following

documents and/or returns as well as the payment of the following taxes, as specified below:

Type of Transaction/ /Document

BIR Form

Name of Form Period Original Due Date Extended Due Date

VAT Refund 1914 Application for VAT Credit/Refund Claims

Covering the Calendar Quarter Ending March 31, 2018

March 31, 2020 May 30 or thirty (30) days from the date of the lifting of the quarantine, whichever comes later

Covering Fiscal Quarter Ending April 30, 2018

April 30, 2020 June 14 or thirty (30) days from the date of the lifting of the quarantine, whichever comes later

Covering Fiscal Quarter Ending May 31, 2018

May 31, 2020 June 30 or thirty (30) days from the date of the lifting of the quarantine, whichever comes later

ONETT 1606 Withholding Tax Remittance Return for Onerous Transfer of Real Property Other Than Capital Asset (Including Taxable and Exempt)

N/A Date of payment falls within the period of emergency starting from March 16, 2020

Thirty (30) days from the date of lifting of the ECQ

1706 Capital Gains Tax Return for Onerous Transfer of Real Property Classified as Capital Asset (both Taxable and Exempt)

1707 Capital Gains Tax Return for Onerous Transfer of Shares of Stocks Not Traded Through the Local Stock Exchange

1800 Donor’s Tax Return

1801 Estate Tax Return

Monthly Filing and Payment (non-eFPS)

2550M Monthly VAT Declaration For the month of February 2020

March 20, 2020 May 19, 2020

For the month of March 2020

April 20, 2020 June 4, 2020

For the month of April 2020

May 20, 2020 June 19, 2020

Monthly eFIling/Filing and ePayment/Payment (eFPS)

1600WP Monthly Remittance of Percentage Tax on Winnings and Prizes Withheld by Race Track Operators

For the month of February 2020

March 20, 2020 May 19, 2020


April 20, 2020 June 4, 2020


May 20, 2020 June 19, 2020

7 | T a x A l e r t


BIR Form


Monthly eFiling (for eFPS filers under Group E)

2550M Monthly VAT Declaration For the month of February 2020

March 21, 2020 May 20, 2020

Monthly eFiling (for eFPS filers under Group D)

March 22, 2020 May 21, 2020

Monthly eFiling (for eFPS filers under Group C)

March 23, 2020 May 22, 2020

Monthly eFiling (for eFPS filers under Group B)

March 24, 2020 May 23, 2020

Monthly eFiling and ePayment (for eFPS filers under Group A)

March 25, 2020 May 24, 2020

Monthly ePayment(for Group E, D, C, B)

March 25, 2020 May 24, 2020


2550M Monthly VAT Declaration For the month of March 2020

April 21, 2020 June 5, 2020


April 22, 2020 June 6, 2020


April 23, 2020 June 7, 2020


April 24, 2020 June 8, 2020


April 25, 2020 June 9, 2020

Monthly ePayment (for Group E, D, C, B)

April 25, 2020 June 9, 2020


2550M Monthly VAT Declaration For the month of April 2020

May 21, 2020 June 20, 2020


May 22, 2020 June 21, 2020


May 23, 2020 June 22, 2020


May 24, 2020 June 23, 2020


May 25, 2020 June 24, 2020


May 25, 2020 June 25, 2020

8 | T a x A l e r t


BIR Form


Quarterly eFiling/Filing and ePayment/Payment (eFPS and no-eFPS filers)

2550Q Quarterly VAT Declaration For Fiscal Quarter ending February 29, 2020

March 25, 2020 May 24, 2020

For Calendar Quarter ending March 31, 2020

April 25, 2020 June 9, 2020

For Fiscal Quarter ending April 30, 2020

May 25, 2020 June 24, 2020

Quarterly SLS/P/I Submission (non-eFPS)

N/A Summary Lists of Sales/Purchases/Importations

For Fiscal Quarter ending February 29, 2020

March 25, 2020 May 24, 2020


April 25, 2020 June 9, 2020


May 25, 2020 June 24, 2020

Sworn Statement of Manufacturer’s or Importer’s Volume of Sales of each particular brand of Alcohol, Tobacco Products, Sweetened Beverage Products

N/A Sworn Statement For Fiscal Quarter ending February 29, 2020

March 25, 2020 May 24, 2020


April 25, 2020 June 9, 2020


May 25, 2020 June 24, 2020

Registration of Computerized Books of Accounts and Other Accounting Records in Electronic Format

N/A N/A For Fiscal Year (FY) ending February 29, 2020

March 30, 2020 May 29, 2020

For Fiscal Year ending March 31, 2020

April 30, 2020 June 14, 2020

For Fiscal Year ending April 30, 2020

May 30, 2020 June 29, 2020

Submission of Required Hard Copies of FS & Scanned Copies of BIR Form 2307 to eFiled 1702RT, MX, EX

AFS Audited Financial Statement For Fiscal Year ending November 30, 2019

March 30, 2020 May 29, 2020

2307 Certificate of Creditable Tax Withheld at Source

1702RT Annual Income Tax Return for Corporation, Partnership and Other Non-Individual Taxpayer Subject Only to REGULAR income Tax Rate

1702MX Annual Income Tax Return for Corporation, Partnership and Other Non-Individual with MIXED Income Subject to Multiple Income Tax Rates or with Income Subject to SPECIAL/PREFERENTIAL RATE

For Calendar Year 2019

April 30, 2020 June 30, 2020

1702EX Annual Income Tax Return for Corporation and Other Non-Individual Taxpayers EXEMPT

For Fiscal Year ending January 31, 2020

May 30, 2020 July 15, 2020

9 | T a x A l e r t


BIR Form


Under the Tax Code, as Amended, [(Sec. 30 and those exempted in Sec. 27(C)] and Other Special Laws, with NO Other Taxable Income

Submission of 2019 Inventory List

N/A Inventory List For Fiscal Year ending February 29, 2020

March 30, 2020 May 29, 2020


April 30, 2020 June 14, 2020


May 30, 2020 June 29, 2020

Quarterly SLS/P/I eSubmission (eFPS)

N/A Summary List of Sales/Purchases/Importations


March 30, 2020 May 29, 2020


April 30, 2020 June 14, 2020


May 30, 2020 June 29, 2020

Quarterly eFiling/Filing and ePayment/Payment (eFPS and non-eFPS filers)

1702Q Quarterly Income Tax Return for Corporation, Partnerships, and other Non-Individual Taxpayers

For Fiscal Quarter ending January 31, 2020

March 31, 2020 May 30, 2020

SAWT Summary Alphalist of Withholding Taxes


April 29, 2020 June 13, 2020

For First Quarter ending February 29, 2020

May 30, 2020 June 29, 2020

Annual Filing/Submission

1604CF Annual Information Return of Income Taxes Withheld on Compensation and Final Withholding Taxes

N/A March 31, 2020 May 30, 2020

Submission Deadline 2316 Certification of Compensation Payment

N/A March 31, 2020 May 30, 2020

Annual Filing/Submission

1604E and

related Alphalist

Annual Information Return of Creditable Income Taxes Withheld and Alphalist

N/A March 31, 2020 May 30, 2020

eFiling/Filing and ePayment/Payment

2000 Documentary Stamp Tax Declaration

For the Month of March 2020

April 5, 2020 June 4, 2020

2000-OT Documentary Stamp Tax Declaration (One-Time Transaction)


May 5, 2020 June 4, 2020

Monthly eSubmission eSales Report of All Taxpayers using CRM/POS with TIN ending in even no.

N/A Monthly eSales Report For the month of March 2020

April 8, 2020 June 7, 2020


May 8, 2020 June 7, 2020

10 | T a x A l e r t


BIR Form


Monthly eFiling/Filing and ePayment/Payment

1600 with MAP

1606

Monthly Remittance Return of Value-Added Tax and Other Percentage Taxes Withheld (Under RAs. 1050, 7649, 8241, 8424 and 9337) and Monthly Alphalist of Payees Withholding Tax Remittance Return for Onerous Transfer of Real Property Other Than Capital Asset (including Taxable and Exempt)

For the month March 2020

April 10, 2020 June 9, 2020


May 10, 2020 June 9, 2020

Monthly eFiling/Filing and ePayment/ Remittance

1600 Withholding Tax Remittance Return for National Government Agencies (NGAs)


April 10, 2020 June 9, 2020


May 10, 2020 June 9, 2020

Monthly Filing and Payment/ Remittance for the amount of excise taxes collected from payment made to Sellers of Metallic Minerals

2200M Excise Tax Return for Mineral Product


April 10, 2020 June 9, 2020


May 10, 2020 June 9, 2020


1601C Monthly Remittance Return of Income Taxes Withheld on Compensation


April 10, 2020 June 9, 2020


May 10, 2020 June 9, 2020

Monthly eSbmission of eSales Report of All Taxpayers using CRM/POS with TIN ending in odd no.

N/A Monthly eSales Report For the month of March 2020

April 10, 2020 June 9, 2020


May 10, 2020 June 9, 2020

Monthly eFiling (for eFPS users under Group E)



April 11, 2020 June 10, 2020

Monthly eFiling (for eFPS users under Group D)

April 12, 2020 June 11, 2020

Monthly eFiling (for eFPS users under Group C)

April 13, 2020 June 12, 2020

Monthly eFiling (for eFPS users under Group B)

April 14, 2020 June 13, 2020


April 15, 2020 June 14, 2020


April 15, 2020 June 14, 2020




May 11, 2020 June 10, 2020


May 12, 2020 June 11, 2020



BIR Form



May 13, 2020 June 12, 2020


May 14, 2020 June 13, 2020


May 15, 2020 June 14, 2020


May 15, 2020 June 14, 2020

Annual eFiling/Filing and ePayment/ Payment

1700 Annual Income Tax Return for Individuals Earning Purely Compensation Income (Including Non-Business/ Non-Profession Related Income)

For Calendar Year ending December 31, 2019

April 15, 2020 June 14, 2020

1701 Annual Income Tax Return for Individuals (including MIXED Income Earner) Estates and Trusts

1701A Annual Income Tax Return for Individuals Earning Income PURELY from Business/ Profession (Those under the graduated income tax rates with OSD as mode of deduction OR those who opted to avail of the 8% flat income tax rate)

Annual eFiling/Filing and ePayment/Payment

1702RT Annual Income Tax Return for Corporation, Partnership and Other Non-Individual Taxpayer Subject Only to REGULAR Income Tax Rate


April 15, 2020 June 14, 2020


May 15, 2020 June 14, 2020

1702MX Annual Income Tax Return for Corporation, Partnership and Other Non-Individual with MIXED Income Subject to Multiple Income Tax Rates or SPECIAL/PREFERENTIAL RATE

For Fiscal Year ending February 29, 2020

June 15, 2020 July 15, 2020

1702EX

Annual Income Tax Return for Corporation, Partnership and Other Non-Individual Taxpayers EXEMPT Under the Tax Code, as Amended, (Sec. 30 and those Other Special Laws, with NO Other Taxable Income

Quarterly eSubmission Summary List of Machines CRM/POS sold by all Machine Distributors/ Dealers/ Vendors/ Suppliers

N/A Summary List of Machines For Taxable Quarter ending March 31, 2020

April 15, 2020 June 14, 2020


May 15, 2020 June 14, 2020



BIR Form


Registration of Bound Looseleaf Books of Accounts/Invoices/ Receipts & Other Accounting Records

N/A N/A For Fiscal Year ending March 31, 2020

April 15, 2020 June 14, 2020


May 15, 2020 June 14, 2020

Submission of List of Medical Practitioners

N/A List of Medical Practitioners For Calendar Quarter ending March 31, 2020

April 15, 2020 June 14, 2020

Required Submission of Attachment to e-filed Annual Income Tax Return (Annual ITR)

1700 N/A For Calendar Year Ending December 31, 2019

Manually filed together with the filing of annual income tax return (Annual ITR) or within 15 days from electronic filing of the Annual ITR

June 30, 2020

1701

1701A

Filing of Position Paper to Notice of Informal Conference (NIC)

N/A N/A N/A Filing date falls during the period starting on March 16, 2020 and those where the due dates fall within the period of thirty (30) days from the date of lifting of the ECQ

Thirty (30) days from the date of the lifting of the quarantine Note: The running of the period within which to file the Position Paper, Protest Letter, Transmittal Letter, Appeal and correspondences referred under the first column, shall be suspended.

Filing of Position Paper to Preliminary Assessment Notice (PAN)

Protest Letter to Final Assessment Notice (FAN)/ Formal Letter of Demand (FLD)

Sixty (60)-day Transmittal Letter of Additional Relevant Supporting Documents

Appeal/ Request for Reconsideration to the Commissioner of Internal Revenue (CIR) on the Final Decision on Disputed Assessment (FDDA)

Other similar letter and correspondence with due dates

Suspension of Running of Limitation under Section 203 and 222 pursuant to Section 223 of the Tax Code of 1997 as amended

N/A Assessment Notices Warrant of Distraints and/or Levy Warrant of Garnishments

Period of emergency starting from March 16, 2020

Before the expiration of Statute of Limitations

Sixty (60) days after the lifting of the quarantine

Certificate of Residence for Tax Treaty Relief (CORTT) Form

N/A Certificate of Residence for Tax Treaty Relief Part I and II

FWT on dividend, interest and royalty for the month of February 2020 paid and remitted in March 2020

Within thirty (30) days after the payment of the withholding tax

Thirty (30) days from the date of the lifting of the quarantine

FWT on dividend, interest and royalty for the month of



BIR Form


March 2020 paid and remitted in April 2020

FWT on dividend, interest and royalty for the month of April 2020 paid and remitted in May 2020

Tax Amnesty on Delinquencies

2118DA Tax Amnesty Return on Delinquencies

N/A April 23, 2020 June 22, 2020

Quarterly eFiling/Filing and ePayment/ Payment (eFPS and non-eFPS filers)

2551Q Quarterly Percentage Tax Return – In General

For the Quarter ending March 31, 2020

April 25, 2020 June 9, 2020

For the Fiscal Quarter ending April 30, 2020

May 25, 2020 June 24, 2020

Quarterly Percentage Tax for Overseas Communications Tax (OCT) – Section 120 of the Tax Code


April 20, 2020 June 4, 2020


May 20, 2020 June 19, 2020

Quarterly Percentage Tax for Amusement Taxes – Section 125, of the Tax Code


April 20, 2020 June 4, 2020

For the Fiscal Quarter ending April 30, 2020

May 20, 2020 June 19, 2020

Submission of Soft copies of BIR Form 2307 contained in a DVD-R and Sworn Statement Declaration as attachments to eFiled 1702Q

DVD-R (Soft

Copies of BIR Form

2307)

Sworn Declarati

on

Certificate of Creditable Tax Withheld at Source Sworn Declaration Stating Soft Copies are Complete and Exact Copies of Original

For Quarter Ending January 31, 2020

April 15, 2020 June 14, 2020


May 15, 2020 June 14, 2020

Quarterly eFiling /filing ePayment/Payment (eFPS and non-eFPS filers)

1601EQ Quarterly Remittance Return of Creditable Income Taxes Withheld (Expanded)

For Quarter ending March 31, 2020

April 30, 2020 June 14, 2020

1601FQ Quarterly Remittance Return of Final Income Taxes Withheld

1602Q Quarterly Remittance Return of Final Taxes Withheld on Interest Paid on Deposits and Deposit Substitutes/ Trust/ Etc.

1603Q Quarterly Remittance Return of Final Income Taxes Withheld on Fringe Benefits Paid to Employees Other Than Rank and File

Submission of Quarterly Alphabetical list of Payee (QAP) as Attachment to 1601EQ and 1601FQ

QAP Quarterly Alphabetical list of Payees

For Quarter ending March 31, 2020

April 30, 2020 June 14, 2020



BIR Form


Application for credit or refund of taxes erroneously or illegally received or penalties imposed without authority under Section 204(C) of the Tax Code

1914 Application for Tax Credits/ Refunds

For erroneous payments made from March 17, 2018 to April 30, 2018

2 years after the payment of the tax or penalty

June 14, 2020

For erroneous payments made from May 1, 2018 to May 31, 2018

June 30, 2020

All Other Filing/ Submission

N/A Other Reportorial Requirements Omitted

N/A Date of submission falls within the period of emergency starting from March 16, 2020

Thirty (30) days from the date of the lifting of the quarantine


0619-E Monthly Remittance Return of Income Taxes Withheld (Expanded)


April 10, 2020 June 9, 2020


May 10, 2020 June 9, 2020

0619-F Monthly Remittance Return of Final Income Taxes Withheld

Monthly eFiling/Filing and ePayment/Payment (eFPS and non-eFPS filers)

0620 Monthly Remittance Form of Tax Withheld on the amount Withdrawn from the Decedent’s Deposit Account


April 10, 2020 June 9, 2020


May 10, 2020 June 9, 2020


0619-E Monthly Remittance Return of Income Taxes Withheld (Expanded)


April 11, 2020 June 10, 2020


0619-F Monthly Remittance Return of Final Income Taxes Withheld

April 12, 2020 June 11, 2020


April 13, 2020 June 12, 2020


April 14, 2020 June 13, 2020

Monthly eFiling and ePayment (for eFPS users under Group A)

April 15, 2020 June 14, 2020

Monthly ePayment (for eFPS users under Group E, D, C, B)

April 15, 2020 June 14, 2020


0619-E

0619-F

Monthly Remittance Return of Income Taxes Withheld (Expanded) Monthly Remittance Return of Final Income Taxes Withheld


May 11, 2020 June 10, 2020


May 12, 2020 June 11, 2020


May 13, 2020 June 12, 2020


May 14, 2020 June 13, 2020



BIR Form


Monthly eFiling and ePayment (for eFPS users under Group A)

May 15, 2020 June 14, 2020

Monthly ePayment (for eFPS users under Group E, D, C, B)

May 15, 2020 June 14, 2020

Filing and Payment of Annual Capital Gains Tax Return (For Erroneous Transfer of Shares of Stock Not Traded Through the Local Stock Exchange)

1707-A Annual Capital Gains Tax Return (For Erroneous Transfer of Shares of Stock Not Traded Through the Local Tax Exchange)


April 15, 2020 June 14, 2020


May 15, 2020 June 14, 2020

eFiling/Filing and ePayment/Payment of Improperly Accumulated Earnings Tax

1704 Improperly Accumulated Earnings Tax Return


April 15, 2020 June 14, 2020


May 15, 2020 June 14, 2020

Quarterly eFiling/Filing and ePayment/Payment (eFPS and non-eFPS filers)

1621 Quarterly Remittance Return of Tax Withheld on the Amount Withdrawn from Decedent’s Deposit Account


April 30, 2020 June 14, 2020

Quarterly eFiling of First Quarter Income Tax Return for Individuals

1701Q Quarterly Income Tax Return for Self-Employed Individuals, Estates and Trusts

For First Quarter 2020 ending March 31, 2020

May 15, 2020 June 14, 2020

eFiling/Filing and ePayment/Payment (eFPS and non-eFPS filers)

2552 Percentage Tax Return for Transactions Involving Shares of Stock Listed and Traded Through the Local Stocks Exchange or Through Initial and/or Secondary Public Offering

Within 5 banking days from collection date

Thirty (30) days from the date of lifting of the quarantine


2553 Return of Percentage Tax Payable under Special Laws

On designated due date under Special Law

Thirty (30) days from the date of lifting of the quarantine


2200-A Excise Tax Return for Alcohol Products

Every removals Before removal of the excisable products from the place of production

Before removal of the excisable products from the place of production

2200-AN Excise Tax Return for Automobiles and Non-Essential Goods

2200-P Excise Tax Return for Petroleum Products

2200-T Excise Tax Return for Tobacco Products

2200-S Excise Tax Return for Sweetened Beverages

The extension of the statutory deadline enumerated above shall be made applicable throughout the Philippines. If the new extended due dates fall on a holiday or non-working day, then, the submission and/or filing contemplated herein shall be made on the next working day. The aforesaid extension shall not prejudice any submission and/or filing made before the enactment of these Regulations, as well as those submission and/or filing to be made effective pursuant to the original deadline set forth under the Tax Code, as amended should the taxpayers still opt to follow the said deadline. All existing rules and regulations, issuances or parts thereof, which are inconsistent with the provisions of these Regulations, are hereby repealed, amended, or modified accordingly.


Alternative Mode of Complying on the Conduct the Annual Stockholder’s Meeting (ASM) (SEC Notice dated April 20, 2020)

Due to the declaration of enhanced community quarantine (ECQ), the SEC has provided an alternative mode of

complying with the required documentation under the 2015 Securities Regulation Code (SRC) IRR, Revised

Corporation Code and other applicable issuances of the Commission to all the Publicly Listed Companies (PLC) and

other companies with registered securities under Markets and Securities Regulation Department (MSRD) for the

distribution of the notice of meeting, information statement, and other documents.

The Notice of Meeting should contain the following:

• Date, time and place of ASM and other information as may be required under existing regulations;

• Availability of an electronic copy of the Information Statement and Management Report and SEC Form 17A

and other pertinent documents, as may be necessary, in the Company’s website and PSE Edge.

The distribution of the Notice of Meeting may be done through publication in the business section of two (2) newspaper

of general circulation, in print and online format, for two (2) consecutive days. The last publication of the notice shall

be made no later than twenty-one (21) days prior to the scheduled ASM.

Expansion of Mandatory Grace Period for Loan Payments during the Enhanced Community Quarantine Period (SEC Notice dated April 16, 2020)

Financing Companies and Lending Companies are mandated to strictly comply with the thirty (30)-day grace period

for all loans with principal and/or interest falling due within the Enhanced Community Quarantine (ECQ) period (March

17, 2020 to April 30, 2020) pursuant to Section 4(aa) of the Bayanihan to Heal As One Act, its IRR and all the other

laws, rules and regulations being implemented by the Commission.

SEC warns FCs and LCs that any violation or non-compliance shall be dealt with to the full extent of the law.

Extension of Period to File the General or Special Form For Financial Statements (GFFS or SFFS) and Guidelines on Submission by Electronic Mail (SEC Notice dated April 16, 2020)

The electronic format of the General Form for Financial Statements (GFFS) or Special Form for Financial Statements

(SFFS) shall be submitted within thirty (30) days from the last day of submission of the Audited Financial Statements

(AFS).

Pursuant to SEC MC No. 5, Series of 2020, the filing AFS has been extended until June 30, 2020 (or 60 days from

the lifting of travel ban for those with foreign operations, whichever comes later), the filing period for the GFFS or

SFFS is deemed extended without penalty.

SEC Issuances


During the ECQ Period, the Economic Research and Training Department will accept electronic copies of the GFFS

or SFFS submitted through electronic mail to [email protected]; provided, that all of the following required

specifications are complied with:

(i) SEC MC No. 10, Series of 2020. Section II (2) to Section II (6) of SEC MC No. 10, Series of 2020 should be

complied with;

(ii) File Format. The GFFS or SFFS should be in MS Excel format, while the Certification should be in Portable

Document Format (PDF) preferably with Text Layer;

(iii) Email Subject Line. The email subject line shall indicate the covering fiscal year and number of attached GFFS

or SFFS.

(iv) File Name of Attachments. Each GFFS/SFFS shall be named according to this format: Fiscal year (yyyy)_SEC

registration number_complete name of the corporation

The file name of each Certification to be attached shall have the same format as the GFFS/SFFS, with the prefix

“Cert.”

Summary of Guidelines on the Filing of Reports and Other Documents During the Enhanced Community Quarantine (SEC Notice dated April 8, 2020)

The SEC has made adjustments in the requirements and procedures for the filing of reports and other documents following the imposition of enhanced community quarantine over Luzon and other parts of the country due to the COVID-19 pandemic. The summary of the reports and the relevant SEC issuances are summarized below:

For All Other Corporations that are not Publicly Listed Companies, etc.

DOCUMENT ALTERNATIVE MODE OF FILING

DEADLINE GUIDELINES

Annual Report/ Audited Financial Statements

For those who will submit within the original filing period, email: [email protected] [email protected] For the printed copies, send by mail or courier: SEC Express Nationwide Submission (SENS)

For those with purely domestic operations: June, 30 2020

For those with domestic and foreign operations: June 30, 2020 or 60 days after the lifting of travel restrictions and other measures implemented to contain the COVID-19 pandemic, whichever comes later

The SEC shall require the physical copies of submissions made through email once the state of public health emergency has been lifted.

• SEC Memorandum Circular No. 5, Series of 2020 The deadline for the filing of 2019 Annual Reports and/or 2019 Audited Financial Statements and applicable 2020 Quarterly Reports is extended for companies affected by the COVID-19 pandemic.

• Notice Dated March 18, 2020 Sworn certifications are no longer required for the grant of the extension. Companies with fiscal year ending November 2019 are also granted extension.

• SEC Memorandum Circular No. 10, Series of 2020 Electronic signatures may be used and reports may be submitted unnotarized.

• SEC Memorandum Circular No. 7, Series of 2020 Reports may be submitted through registered or ordinary mail.

http://www.sec.gov.ph/wp-content/uploads/2020/03/2020MCNo05.pdf


http://www.sec.gov.ph/wp-content/uploads/2020/03/2020Notice_Notice-on-MC-No-5-series-of-2020-Final.pdf






General Information Sheet (GIS)/ Report of Non-holding of Election

For the accomplished GIS, email to any of the following:

− [email protected]

− [email protected]

− [email protected] For the Report of Non-holding of Election, email: [email protected] For the printed copies, send by mail or courier: SEC Express Nationwide Submission (SENS)

For the email submissions: Within 30 calendar days from the actual meeting of stockholders or members For the printed copies: Within 30 calendar days from the lifting of the enhanced community quarantine

• SEC Memorandum Circular No. 9, Series of 2020 The GIS or Report of Non-holding of Election may be submitted through email, mail and private courier. * Email submissions made between 8AM to 5PM on a regular workday shall be considered received on the day they were sent.

• SEC Memorandum Circular No. 10, Series of 2020 Electronic signatures may be used and reports may be submitted unnotarized.

• SEC Memorandum Circular No. 7, Series of 2020 Reports may be submitted through registered or ordinary mail.

Nonstock Corporations Required to Submit the Mandatory Disclosure Form (MDF)

DOCUMENT ALTERNATIVE MODE OF FILING

DEADLINE GUIDELINES

MDF

Online form: https://forms.gle/KF4iBSimL KvChCwRA

The printed copies will have to be submitted by April 30, 2020 or 15 days from the lifting of travel restrictions and other measures implemented to contain the COVID-19 pandemic.

• Notice Dated April 2, 2020 The deadline for the submission of the MDF is extended. Those who have yet to submit the MDF online may continue filling out the online form between 8AM and 5PM, Monday to Friday.

This SEC Notice has also provided guidance for the following companies:

• Publicly Listed Companies

• Other Issuers of Registered Securities under the Supervision of the MSRD

• Investment Companies, Issuers of Proprietary and Non-proprietary Shares/ Timeshares, Public Companies, Financing Companies, Lending Companies, Accredited Microfinance NGOs and Foundations

• Nonstock Corporations Required to Submit the Mandatory Disclosure Form (MDF)

• Corporations Required to Submit General and Special Forms for Financial Statements (GFFS/ SFFS) in Electronic Format

• Accredited Asset Valuers and Credit Rating Agencies

• Persons Involved in Cases Pending before the Office of the General Counsel (OGC) or the Commission En Banc

• Corporations with Principal Offices Near the SEC Extension Offices Please refer to this SEC Notice (Web Address: http://www.sec.gov.ph/wp-content/uploads/2020/04/2020Notice-Summary-of-Guidelines-on-the-Filing-of-Reports-during-the-ECQ-Updated-04172020.pdf) for complete guidance.

mailto:[email protected]



http://www.secexpress.ph/sens




http://www.sec.gov.ph/wp-content/uploads/2020/03/2020MCNo09-1.pdf

http://www.sec.gov.ph/wp-content/uploads/2020/03/2020MCNo09-1.pdf





https://forms.gle/KF4iBSimLKvChCwRA



http://www.sec.gov.ph/wp-content/uploads/2020/04/2020Notice_Deadline-for-Submission-of-MDF-to-April-30-2020_final.pdf


Guidelines on Payment of Holiday Pay (Labor Advisory 13-A, series of 2020, April 1, 2020)

DOLE directed that employers, on the account of the existence of COVID-19 national emergency, are allowed to defer payment of holiday pay on April 9, 10 and 11, 2020, until the time it has been lessen and establishments are back to normal working operations.

Guidelines on Probationary Employment Period during ECQ (Labor Advisory 14, series of 2020, March 30, 2020)

The Labor Advisory provides that the one-month Enhanced Community Quarantine (ECQ) period is not included in determining the required probationary employment period in the private sector, which should not exceed six months from the date the employee started working.

Guidelines on Workplace Prevention and Control of COVID-19 (DTI and DOLE Interim Guidelines, April 30, 2020)

DOLE and DTI have provided guidelines to the employers in order to assist private institutions that are allowed to operate during the Enhanced Community Quarantine (ECQ) and General Community Quarantine (GCQ) in developing the minimum health protocols and standards in light of the COVID-19 pandemic. Notwithstanding this issuance, the employers should have the necessary company policies for the prevention and control of COVID-19. Some of the preventive measures required prior to entering the building and workplace are wearing of facemasks, accomplishment of the health symptoms questionnaire, temperature checks and disinfection procedures, both for the people and equipment or vehicle entering the operational area. Inside the workplace, the physical distancing of minimum one (1) meter radius space (side, back and front) between workers should be always observed. It is highly recommended that eating should be done in individual work areas and all wastes shall be disposed properly. To minimize the contact rate, adaption of alternative work arrangements, such as working-hour shifts, work from home (WFH), where feasible and on rotation basis is recommended. There shall be no diminution in wages or benefits in the implementation of the aforesaid arrangements. Where feasible, shuttle services and/or decent accommodation on near-site should be provided. Online system and videoconferencing are highly encouraged to be utilized in lieu of the meetings with physical presence. In order to make sure the minimum health protocols and standards are being complied, the employers are required to provide masks, soap, sanitizer, disinfectant, PPEs, including COVID-19 testing kits, and other necessary supplies for the health and safety of employees. A safety officer should be designated to monitor COVID-19 prevention and control measures. A COVID-19 Hotline and Call Center must be put up for employees to report if symptomatic. Companies should also have a designated isolation area, daily monitoring scheme, and protocols for transport, for PCR testing and for ambulance conduction, in the event that a worker is suspected as having COVID-19. The employer shall provide the DOLE through its Regional Office copy furnished DOH monthly reporting of illness, diseases and injuries utilizing the DOLE Work Accident/Illness Report Form (WATR).

DOLE Issuances


Extension of Deadlines for the Payment of Taxes, Fees and Charges LGUs (DOF Memorandum Circular No. 002-2020, April 23, 2020)

The Department of Finance has issued an extension of deadlines for the payment of taxes, fees and charges of Local Government Units (LGU) pursuant to Section 4 (Z) of the Republic Act (RA) No. 11469 otherwise known as the “Bayanihan to Heal as One Act”. This issuance supersedes the issuances of LGUs on the extension of deadlines for payment before the effectivity of RA No. 1146. Any further extension thereof shall be authorized in accordance with the provisions of the Local Government Code of 1991. The deadlines for the payment of all local taxes, fees and charges as of March 25, 2020 shall be extended until June 25, 2020. Likewise, the counting of the period within which to pay local taxes, fees and charges shall be suspended during the said period. Accordingly, no interest, surcharge or any form of penalty shall be applied on any local tax, fee or charge accruing on or due and demandable during the said period. All local tax delinquencies prior to the effectivity of RA No. 11469 shall remain, and shall be due and demandable following the expiration of the deadline on June 25, 2020. The applicable interests, penalties and surcharges shall begin to run again and shall be due and demandable after the lapse of the effectivity of RA No. 11469.

DOF Issuances

`

ASSURANCE TAX ADVISORY ACCOUNTING

22nd Floor Citibank Tower, 8741 Paseo de Roxas Salcedo Village, Makati City 1226 Philippines T: (+632) 8848 1051 | F: (+632) 8728 1014 www.bakertilly.ph

Disclaimer

Constantino and Partners trading as Baker Tilly is a member of the global network of Baker Tilly International Ltd., the members of which are separate and independent legal entities. The contents of this tax alert are summaries of selected issuances from various government agencies. They do not necessarily reflect the official position of C&P. They are intended for guidance only and as such should not be regarded as a substitute for professional advice.

Baker Tilly member firms are located in 147 territories around the world.

About Baker Tilly

Our global network comprises 125 firms with a combined

staff strength of 33,600 in 147 territories.

Baker Tilly refers to the global network of accounting firms

of Baker Tilly International Limited. Each member firm is a

separate legal entity. Baker Tilly International Limited

does not provide services to clients.

For any inquiries, please contact: Atty. Maricris E. Oronea Tax Principal T +63 2 8848 1091 local 820 [email protected] https://www.bakertilly.ph/