The Bureau of Internal Revenue (BIR) announced that it will waive penalties for income tax return (ITR) amendments as long as individuals will be able to settle their payments on or before June 15, 2020.
According to a report by Business World, BIR Commissioner Caesar R. Dulay gave out a Memorandum Circular last March 16, stating that the tax filing deadline is still on April 15, 2020. It’s also written that taxpayers can file ITRs tentatively if they believe the return to have discrepancies because of “limitations in the preparation” caused by the whole month lockdown imposed by the government.
Business World also reported that the order “allows amendments to be filed “at any time” with no penalty if any additional income tax is settled on or before June 15.”
In the copy of the memorandum that was given to journalists, it’s stated that:
Considering the limitations in the preparation of the AITR (annual income tax return) to be filed by concerned taxpayers due to the aforesaid lockdown, errors in the determination of their income taxes are possible. Hence, taxpayers, at any time, can amend their AITR filed, provided the concerned taxable period has not been the subject of an audit. An amendment that will result in additional income tax to be paid, can still be paid without the imposition of corresponding penalties if the same shall be done not later than June 15, 2020.
The BIR is encouraging taxpayers to make use of the electronic filing facilities of the BIR and pay online or over-the-counter instead.
Via Business World
