BIR extends to end-August deadline for online selling business registration

MANILA, Philippines — The deadline on paying income taxes, and other levies, will no longer be extended even if the government ultimately decides later to further lengthen lockdowns meant to control the spread of coronavirus disease, the Bureau of Internal Revenue BIR said. Under Revenue Regulations RR , the tax agency voided a provision on its earlier issuance which stipulated that so long as the community quarantines are extended, tax payment cut-offs would be deferred. In , the latest year on which data is available, income taxes accounted for This, even as the government has repeatedly underscored the need to generate more funds to finance public programs meant to cushion the impact of the pandemic. Apart from income taxes falling due June 15 for both individual and corporate taxpayers, percentage taxes reported quarterly must be submitted June 9, while VAT declarations for March and April must be in by June 4 and 9, respectively. Tax relief applications are now also final. The application for VAT credit refund covering fiscal quarter ending May 31 should be submitted on the last day of May. Seeking amnesty for tax delinquents will end June Early payers are given some incentives. With your meaningful insights, help shape the stories that can shape the country.

BIR extends ITR filing deadline to May 30

Philippine Daily Inquirer. MANILA, Philippines—With the community quarantine again extended in some areas until May 15, the Bureau of Internal Revenue BIR has further pushed back tax-filing and payment deadlines even as it enjoined taxpayers to no longer wait for the cut-off dates if they can. Dulay, which extended the deadline to file and pay income tax returns ITRs until June

Fiscal years are referenced by their end date or end year. For example, to reference a nonprofit organization’s fiscal year-end, you may say, “FY.

Issued on: April 22, We must also conserve critical State Department resources so that consular officers may continue to provide services to United States citizens abroad. Even with their ranks diminished by staffing disruptions caused by the pandemic, consular officers continue to provide assistance to United States citizens, including through the ongoing evacuation of many Americans stranded overseas.

In recent years, these workers have been disproportionately represented by historically disadvantaged groups, including African Americans and other minorities, those without a college degree, and the disabled. These are the workers who, at the margin between employment and unemployment, are likely to bear the burden of excess labor supply disproportionately. There is no way to protect already disadvantaged and unemployed Americans from the threat of competition for scarce jobs from new lawful permanent residents by directing those new residents to particular economic sectors with a demonstrated need not met by the existing labor supply.

Existing immigrant visa processing protections are inadequate for recovery from the COVID outbreak. While some employment-based visas contain a labor certification requirement, because visa issuance happens substantially after the certification is completed, the labor certification process cannot adequately capture the status of the labor market today. Moreover, introducing additional permanent residents when our healthcare resources are limited puts strain on the finite limits of our healthcare system at a time when we need to prioritize Americans and the existing immigrant population.

I therefore hereby proclaim the following:. Suspension and Limitation on Entry. Scope of Suspension and Limitation on Entry. Implementation and Enforcement.

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Please note that this article was updated on 15 April to account for more recent updates from the BIR, namely the release of Revenue Regulations No. The Bureau of Internal Revenue BIR has released a new Memorandum Circular and Revenue Regulations which now extends the previously extended deadline dates for various tax filings, submissions and payments originally due in March and April Together, they extend further the deadline dates that were already extended under previous BIR issuances.

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check and lining up at one of the BIR’s Accredited Agent Banks (AABs) or with a Revenue Make sure to include the date of your BIR payment. I could not finish my transaction on the GCash App. How long do I have to finish the transaction?

Metro Manila CNN Philippines, June 10 — The Bureau of Internal Revenue has directed online sellers and other digital-based businesses to register their activities, declare previous transactions and settle their corresponding taxes no later than July CarolynBonquin pic. The circular also covered payment gateways, delivery channels, internet service providers and other facilitators.

The BIR asked these businesses to register their activities or update their registration status by end-July. Entities who fail to perform these activities on time shall be meted with applicable penalties under the law and existing revenue rules and regulations, said the tax-collecting body. The BIR also advised newly-registered businesses to comply with the Tax Code’s provision as amended and other relevant issuances on tax revenue as stated in the circular.

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BIR orders online businesses to register, declare past transactions and pay taxes by end-July

For the benefit of the tax paying public and their tax representatives, some frequently asked questions and their answers are listed below for general information and guidance. If the amounts shown in the company’s financial statements include cents, should I put in the cents when stating amounts in the Profits Tax return? You should put in the numbers without inserting ” , ” in between them and align the figure to the right-hand side. Will the Department accept photocopies of returns, supplementary forms, unsigned auditor’s report and unsigned financial statements for return filing purpose?

Photocopy of tax returns, supplementary forms and uncertified financial statements are not acceptable for return filing purpose. Can I send correspondence for enquiries or claims in the same envelope that I send the tax return and supplementary forms?

LOA will be served within thirty (30) days from date and carries a request for Within thirty (30) days from receipt of the final resolution of the BIR (FDDA or PCL​).

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BIR Extends Anew the Period for Filing of Returns and Payment of Taxes in Light of ECQ Extension

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(To be filled out by BIR) DLN: Republic of the Philippines BIR Form No. January (ENCS) End Date (MM/DD/YYYY). Registration/Accreditation.

Taxpayers under the List of Inactive Taxpayers who were found existing and operational will be given a prescribed reminder letter requiring them to respond within five 5 working days from receipt of letter. Business taxpayers under the List of inactive Taxpayers who were found existing and operational will be given a prescribed reminder letter requiring them to respond within five 5 working days upon receipt of such letter. Other policies, guidelines, and procedures for tagging or classifying inactive business taxpayers are provided in the Order.

A collection of all publications, articles on Philippine taxation. Tax is a significant cost in business. As such, properly managing and controlling inherent tax risks is a must. And to keep up with tax developments and have a Our library of research, insights and other publications provide useful information about emerging issues and possible solutions to your business needs.

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BIR extends tax filing deadlines

A fiscal year is a one-year period that companies and governments use for financial reporting and budgeting. For example, universities often begin and end their fiscal years according to the school year. A fiscal year is important to publicly-traded corporations and their investors since it includes revenue and earnings making year-to-year comparisons possible.

BIR extends ITR filing deadline to May the enhanced community quarantine (ECQ) in Luzon until end-April. BIR said taxpayers who are able to file “can amend their tax returns at any time” before the new due date.

Amendments that will result in additional tax payment will not incur penalties, including surcharge, interest and compromise penalties if it will be paid within the extended deadline, it added. For the fiscal year ending Jan. Likewise, application for value-added tax VAT refund claims covering the quarter ending March 31, and April 30, can be done until May 15 and May 30, respectively, or 30 days after the lockdown is scheduled to be lifted. The regulation also set new deadlines for other returns and documents, including the monthly and quarterly VAT declarations; monthly remittance of percentage tax on winnings and prizes withheld by racetrack operators.

Deadline for submission of tax amnesty on delinquencies returns was also extended further to June 8 from the previous extended schedule of May 23 from April 23, originally. Submission deadlines for various documents such as a summary list of sales and sworn statements were also moved to May 10 for the fiscal quarter ending Feb. The BIR also extended anew the deadline of submission for other returns, including the following:.

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