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

May 14, 2020

REVENUE REGULATIONS NO. 12-20

 

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 revenue need of the government, these Regulations are hereby promulgated to amend certain provisions of RR No. 10-2020, as amended by RR No. 11-2020, 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. 10-2020, as amended by Section 2 of RR No. 11-2020, 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:

xxx xxx xxx

"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, and modified enhanced community quarantine."

SECTION 3. Repeal of Section 3. — Section 3 of RR No. 10-2020, as amended by Section 3 of RR No. 11-2020, is hereby repealed. The defined extended due dates under Section 2 of RR No. 11-2020 shall remain in effect regardless of any extension or modification of quarantine.

SECTION 4. Filing of Tax Returns and Payment of Tax Due. — Since the extended deadlines provided in RR 11-2020 remain in effect, taxpayers are reminded to file their returns pay n taxes on or before the deadlines provided therein.

Taxpayers are likewise reminded that if they file their tax returns within the original deadline or prior to the extended deadline, they 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 deadlines 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 IIISecretary of Finance

Recommending Approval:

(SGD.) CAESAR R. DULAYCommissioner of Internal Revenue

 

n Note from the Publisher: Copied verbatim from the official document.