Clarification of the Conflict Between the Tax Code of 1997 and Revenue Regulations 7-93 with Respect to the Prescribed Dates of Filing of Quarterly Income Tax Return and Payment of Estimated Tax by an Individual

April 1, 1998 REVENUE MEMORANDUM CIRCULAR NO. 11-98 SUBJECT : Clarification of the Conflict Between the Tax Code of 1997 and Revenue Regulations 7-93 with Respect to the Prescribed Dates of Filing of Quarterly Income Tax Return and Payment of Estimated Tax by an Individual TO : All Internal Revenue Officers and Others Concerned In the filing of quarterly income tax return and payment of estimated tax by an individual, there exists an apparent conflict as to the correct deadline in the filing and payment thereof for the first quarter of the year. Section 67 of the National Internal Revenue Code of 1977 states that the filing of the first quarter return should be on April 15 of each year. However, Revenue Regulations No. 7-93 provided for the filing of the first quarterly income tax on May 15 of each year for the reason that the procedure prescribed by the NIRC of 1977 in estimating the amount income and tax to be paid may not reasonably approximate the correct amount of tax to be paid by the individual, and hence may be disadvantageous to the taxpayer and to the government. This notwithstanding, The Tax Code of 1997, as amended by R.A. 8424, under Section 74 thereof, reiterated the same schedule dates found in then Section 67 of NIRC, 1977. Therefore, the re-statement of the said dates for the filing of the quarterly income tax returns by an individual in R.A. No. 8424, otherwise known as the "Tax Reform Act of 1997" should be viewed as the latest expression of the will of Congress. Accordingly, as amended by R.A. No. 8424, the deadline for the filing of income tax returns and payment of the income tax for self-employed individuals and professionals engaged in the practice of their profession, shall be on the dates indicated below: First Quarter Return April 15 of the current year; Second Quarter Return August 15 of the current year; Third Quarter Return November 15 of the current year; Final Return April 15 of the following year. All revenue officials and employees are hereby enjoined to give this Circular the widest publicity possible. LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue