Amends Section 2 of RR No. 10-2020 on Extension of Statutory Deadlines and Timelines for the Filing and Submission of any Document and Payment of Taxes Pursuant to Sec. 4 (z) of RA 11469

April 29, 2020 REVENUE REGULATIONS NO. 11-20 SUBJECT : Amends Section 2 of Revenue Regulations No. 10-2020 Relative to the Extension of Statutory Deadlines and Timelines for the Filing and Submission of any Document and the Payment of Taxes Pursuant to Section 4 (z) of Republic Act No. 11469, Otherwise Known as "Bayanihan to Heal as One Act" TO : All Internal Revenue Officials and Others Concerned SECTION 1. Purpose . Pursuant to Section 4 (z) of Republic Act No. 11469, otherwise known as "Bayanihan to Heal as One Act," declaring the existence of a national emergency arising from the Corona Virus Disease 2019 (COVID-19), and in consideration of the extension of the quarantine period until May 15, 2020, these Regulations are hereby promulgated to amend certain provisions of RR No. 10-2020, particularly on the extension of deadlines to submit, file and/or pay the necessary documents and/or taxes required under the Tax Code, as amended, as well as in the existing revenue regulations. SECTION 2. Amendment to Section 2 . Section 2 of RR No. 7-2020, as amended by Section 2 and Section 3 of RR No. 10-2020, is hereby further amended to read as follows: "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, are extended as follows: Type of Transaction/Document BIR Form Name of Form Period Original Due Date Extended Due Date 1. VAT Refund 1914 Application for VAT Credit/Refund Claims Covering the Calendar Quarter Ending March 31, 2018 March 31, 2020 May 30, 2020 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, 2020 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, 2020 or thirty (30) days from the date of the lifting of the quarantine, whichever comes later 2. ONETT 1606 Withholding Tax Remittance Return for Onerous Transfer of Real Property Other Than Capital Asset (including Taxable and Exempt) N/A Date of filing and payment falls within the period of emergency starting from March 16, 2020 Thirty (30) days from the date of the lifting of the quarantine 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 3. 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 4. 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, 2010 For the month of March 2020 April 20, 2020 June 4, 2020 For the month of April 2020 May 20, 2020 June 19, 2020 5. 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 Monthly eFiling (for eFPS filers under Group E) For the month of March 2020 April 21, 2020 June 5, 2020 Monthly eFiling (for eFPS filers under Group D) April 22, 2020 June 6, 2020 Monthly eFiling (for eFPS filers under Group C) April 23, 2020 June 7, 2020 Monthly eFiling (for eFPS filers under Group B) April 24, 2020 June 8, 2020 Monthly eFiling and ePayment (for eFPS filers under Group A) April 25, 2020 June 9, 2020 Monthly ePayment (for Group E, D, C, B) April 25, 2020 June 9, 2020 Monthly eFiling (for eFPS filers under Group E) For the month of April 2020 May 21, 2020 June 20, 2020 Monthly eFiling (for eFPS filers under Group D) May 22, 2020 June 21, 2020 Monthly eFiling (for eFPS filers under Group C) May 23, 2020 June 22, 2020 Monthly eFiling (for eFPS filers under Group B) May 24, 2020 June 23, 2020 Monthly eFiling and ePayment (for eFPS filers under Group A) May 25, 2020 June 24, 2020 Monthly ePayment (for Group E, D, C, B) May 25, 2020 June 25, 2020 6. Quarterly eFiling/filing and ePayment/Payment (eFPS and non-eFPS filers) 2550Q Quarterly VAT Return 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 7. 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 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 8. 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 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 9. 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 (FY) ending March 31, 2020 April 30, 2020 June 14, 2020 For Fiscal Year (FY) ending April 30, 2020 May 30, 2020 June 29, 2020 10. Submission of Required Hard Copies of FS & Scanned Copies of BIR Form 2307 to eFiled 1702RT, MX, EX AFS Audited Financial Statements For FY 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 For Calendar Year (CY) 2019 April 30, 2020 June 30, 2020 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 Fiscal Year ending January 31, 2020 May 30, 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 exempted in Sec. 27 (C)] and Other Special Laws, with NO Other Taxable Income For Fiscal Year ending February 29, 2020 June 30, 2020 July 30, 2020 11. Submission of 2019 Inventory List N/A Inventory List For FY ending February 29, 2020 March 30, 2020 May 29, 2020 For FY ending March 31, 2020 April 30, 2020 June 14, 2020 For FY ending April 30, 2020 May 30, 2020 June 29, 2020 12. Quarterly SLS/P/I eSubmission (eFPS) N/A Summary List of Sales/Purchases/ Importations For Fiscal Quarter ending February 29, 2020 March 30, 2020 May 29, 2020 For Calendar Quarter ending March 31, 2020 April 30, 2020 June 14, 2020 For Fiscal Quarter ending April 30, 2020 May 30, 2020 June 29, 2020 13. 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 For Fiscal Quarter ending February 29, 2020 April 29, 2020 June 13, 2020 SAWT Summary Alphalist of Withholding Taxes (SAWT) For 1st Quarter ending March 31, 2020 May 30, 2020 June 29, 2020 14. 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 15. Submission Deadline 2316 Certification of Compensation Payment N/A March 31, 2020 May 30, 2020 16. 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 17. 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) For the month of April 2020 May 5, 2020 June 4, 2020 18. Monthly eSubmission of 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 For the month of April 2020 May 8, 2020 June 7, 2020 19. Monthly eFiling/Filing and ePayment/Payment 1600 with MAP Monthly Remittance Return of Value-Added Tax and Other Percentage Taxes Withheld (Under RAs 1051, 7649, 8241, 8424 and 9337) and Monthly Alphalist of Payees For the month of March 2020 April 10, 2020 June 9, 2020 1606 Withholding Tax Remittance Return for Onerous Transfer of Real Property Other Than Capital Asset (including Taxable and Exempt) For the month of April 2020 May 10, 2020 June 9, 2020 20. Monthly eFiling/Filing and ePayment/Remittance 1600 Withholding Tax Remittance Return for National Government Agencies (NGAs) For the month of March 2020 April 10, 2020 June 9, 2020 For the month of April 2020 May 10, 2020 June 9, 2020 21. 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 Products For the month of March 2020 April 10, 2020 June 9, 2020 For the month of April 2020 May 10, 2020 June 9, 2020 22. Monthly Filing and Payment (non-eFPS) 1601C Monthly Remittance Return of Income Taxes Withheld on Compensation For the month of March 2020 April 10, 2020 June 9, 2020 For the month of April 2020 May 10, 2020 June 9, 2020 23. Monthly eSubmission 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 For the month of April 2020 May 10, 2020 June 9, 2020 24. Monthly eFiling (for eFPS users under Group E) 1601C Monthly Remittance Return of Income Taxes Withheld on Compensation For the month of March 2020 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 Monthly eFiling and ePayment (for eFPS filers under Group A) April 15, 2020 June 14, 2020 Monthly ePayment (for Group E, D, C, B) April 15, 2020 June 14, 2020 Monthly eFiling (for eFPS users under Group E) For the month of April 2020 May 11, 2020 June 10, 2020 Monthly eFiling (for eFPS users under Group D) May 12, 2020 June 11, 2020 Monthly eFiling (for eFPS users under Group C) May 13, 2020 June 12, 2020 Monthly eFiling (for eFPS users under Group B) May 14, 2020 June 13, 2020 Monthly eFiling and ePayment (for eFPS filers under Group A) May 15, 2020 June 14, 2020 Monthly ePayment (for Group E, D, C, B) May 15, 2020 June 14, 2020 25. Annual eFiling/Filing and ePayment/Payment 1700 Annual Income 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) 26. 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 For Calendar Year ending December 31, 2019 April 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 with Income Subject to SPECIAL/ PREFERENTIAL RATE For Fiscal Year ending January 31, 2020 May 15, 2020 June 14, 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 exempted in Sec. 27 (C)] and Other Special Laws, with NO Other Taxable Income For Fiscal Year ending February 29, 2020 June 15, 2020 July 15, 2020 27. Quarterly eSubmission of 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 For Fiscal Quarter ending April 30, 2020 May 15, 2020 June 14, 2020 28. 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 For Fiscal Year ending April 30, 2020 May 15, 2020 June 14, 2020 29. 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 30. Required Submission of Attachments to e-filed Annual Income Tax Return (AITR) 1700 1701 1701A 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 31. 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 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 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 letters and correspondences with due dates 32. 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 33. 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 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 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 34. Tax Amnesty on Delinquencies 2118DA Tax Amnesty Return on Delinquencies N/A April 23, 2020 June 22, 2020 35. Quarterly eFiling/filing and ePayment/Payment (eFPS and non-eFPS filers) 2551Q Quarterly Percentage Tax Return In General For Quarter ending March 31, 2020 April 25, 2020 June 9, 2020 For Fiscal Quarter ending April 30, 2020 May 25, 2020 June 24, 2020 35a. 2551Q Quarterly Percentage Tax for Overseas Communications Tax (OCT) Section 120 of the Tax Code For the Quarter ending March 31, 2020 April 20, 2020 June 4, 2020 For Fiscal Quarter ending April 30, 2020 May 20, 2020 June 19, 2020 35b. 2551Q Quarterly Percentage Tax for Amusement Taxes Section 125 of the Tax Code For the Quarter ending March 31, 2020 April 20, 2020 June 4, 2020 For Fiscal Quarter ending April 30, 2020 May 20, 2020 June 19, 2020 36. Submission of Soft Copies of BIR Form 2307 Contained in a DVD-R and Sworn Declaration as Attachments to eFiled 1702Q DVD-R (Soft Copies of BIR Form 2307) Certificate of Creditable Tax Withheld at Source For Fiscal Quarter ending January 31, 2020 April 15, 2020 June 14, 2020 Sworn Declaration Sworn Declaration Stating Soft Copies are Complete and Exact Copies of Original For Fiscal Quarter ending February 29, 2020 May 15, 2020 June 14, 2020 37. Quarterly eFiling/filing and 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/Trusts Etc. 1603Q Quarterly Remittance Return of Final Income Taxes Withheld on Fringe Benefits Paid to Employees Other Than Rank and File 38. Submission of Quarterly Alphabetical list of Payees (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 39. 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 40. 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 41. Monthly Filing and Payment (non-eFPS) 0619-E Monthly Remittance Return of Income Taxes Withheld (Expanded) For the month of March 2020 April 10, 2020 June 9, 2020 0619-F Monthly Remittance Return of Final Income Taxes Withheld For the month of April 2020 May 10, 2020 June 9, 2020 42. 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 For the month of March 2020 April 10, 2020 June 9, 2020 For the month of April 2020 May 10, 2020 June 9, 2020 43. Monthly eFiling (for eFPS users under Group E) 0619-E Monthly Remittance Return of Income Taxes Withheld (Expanded) For the month of March 2020 April 11, 2020 June 10, 2020 Monthly eFiling (for eFPS users under Group D) 0619-F Monthly Remittance Return of Final Income Taxes Withheld 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 Monthly eFiling and ePayment (for eFPS filers under Group A) April 15, 2020 June 14, 2020 Monthly ePayment (for Group E, D, C, B) April 15, 2020 June 14, 2020 Monthly eFiling (for eFPS users under Group E) For the month of April 2020 May 11, 2020 June 10, 2020 Monthly eFiling (for eFPS users under Group D) May 12, 2020 June 11, 2020 Monthly eFiling (for eFPS users under Group C) May 13, 2020 June 12, 2020 Monthly eFiling (for eFPS users under Group B) May 14, 2020 June 13, 2020 Monthly eFiling and ePayment (for eFPS filers under Group A) May 15, 2020 June 14, 2020 Monthly ePayment (for Group E, D, C, B) May 15, 2020 June 14, 2020 44. Filing and Payment of Annual Capital Gains Tax Return (For Onerous Transfer of Shares of Stock Not Traded Through the Local Stock Exchange) 1707-A Annual Capital Gains Tax Return (For Onerous Transfer of Shares of Stock Not Traded Through the Local Stock Exchange) For CY ending Dec. 31, 2019 April 15, 2020 June 14, 2020 For FY ending Jan. 31, 2020 May 15, 2020 June 14, 2020 45. eFiling/Filing and ePayment/Payment of Improperly Accumulated Earnings Tax 1704 Improperly Accumulated Earnings Tax Return For FY ending Mar. 31, 2019 Apr. 15, 2020 June 14, 2020 For FY ending Apr. 30, 2019 May 15, 2020 June 14, 2020 46. 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 For the quarter ending Mar. 31, 2020 April 30, 2020 June 14, 2020 47. Quarterly Filing of 1st Quarter Income Tax Return for Individuals 1701Q Quarterly Income Tax Return for Self-Employed Individuals, Estates and Trusts For 1st Qtr. 2020 ending March 31, 2020 May 15, 2020 June 14, 2020 48. 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 Stock Exchange or Through Initial and/or Secondary Public Offering Within 5 banking days from collection date Thirty (30) days from the date of the lifting of the quarantine 49. eFiling/filing and ePayment/Payment (eFPS and non-eFPS filers) 2553 Return of Percentage Tax Payable under Special Laws On designated due date under special law Thirty (30) days from the date of the lifting of the quarantine 50. eFiling/filing and ePayment/Payment (eFPS and non-eFPS filers) 2200-A Excise Tax Return for Alcohol Products Every removal 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 due dates 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. Further, the term "quarantine" used herein shall mean any announcement by the National Government resulting to limited operations and mobility, including, but not limited to, community quarantine, enhanced community quarantine, modified community quarantine , and general community quarantine . CAIHTE SECTION 3. Amendment to Section 3 . Section 3 of RR 10-2020 is hereby amended as follows: " SECTION 3. FURTHER EXTENSION. In case of another quarantine extension, defined extended due dates under Section 2 of these Regulations shall be allowed further extension of fifteen (15) calendar days." SECTION 4. Filing of Tax Returns and Payment of Taxes before the Extended Deadline . While the deadlines are extended, the Bureau acknowledges that some taxpayers wish to file and pay taxes early but have not yet finalized their financial statements and/or returns. Taxpayers who will file their tax returns within the original deadline or prior to the extended deadline can amend their tax returns at any time on or before the extended due date. An amendment that will result in additional tax to be paid, can still be paid without the imposition of corresponding penalties (surcharge, interest and compromise penalties) if the same shall be done not later than the extended deadline as provided under existing rules and regulations. A taxpayer whose amended returns will result in overpayment of taxes paid, can opt to carry over the overpaid tax as credit against the tax due for the same tax type in the succeeding periods' tax returns, aside from filing for claim for refund. SECTION 5. Repealing Clause . 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. SECTION 6. Separability Clause . If any clause, sentence, provision or section of these Regulations shall be held invalid or unconstitutional, the remaining parts thereof shall not be affected thereby. SECTION 7. Effectivity . These Regulations shall take effect immediately. (SGD.) CARLOS G. DOMINGUEZ III Secretary of Finance Recommending Approval: (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue Published in the Manila Bulletin on May 2, 2020.