Extension of Time in Filing a Corporate Annual Income Tax Return

April 7, 1987 BIR RULING NO. 099-87 282 000-00 099-87 Gentlemen : This refers to your letter dated April 3, 1987, in behalf of your client, Philusa Distributors, Inc., requesting for a reconsideration of our earlier ruling granting your request for extension of time to file your corporate annual income tax return for the taxable year ending December 31, 1986 to May 31, 1987, but subject to the payment of 25% surcharge and 20% interest per annum. In reply thereto, please be informed that your request for extension of time for the filing of the 1986 corporate income tax return of your client, Philusa Distributors, Inc., to May 31, 1987 is hereby granted pursuant to Section 47 of the Tax Code and Section 188 of Revenue Regulations No. 2. Such extension is subject to the payment of interest in accordance with Section 283(d) of the Tax Code. asiacd However, your client is not subject to the 25% surcharge. It will be noted that Section 282 of the Tax Code enumerates the cases where the civil penalty of 25% shall be imposed and the payment of income tax within the period of extension authorized by the Commissioner is not one of said cases. Very truly yours, (SGD.) VICTOR A. DEOFERIO, JR. Acting Commissioner