City of San Fernando -- The Bureau of Internal Revenue (BIR) on Wednesday, March 18, extended the deadline of for the filing of the 2019 annual income tax returns (ITRs) to May 15 instead of the yearly April 15 deadline.
Internal revenue Commissioner Ceasar Dulay signed Memorandum Circular No. 28 extending the deadline of the filing without penalties on the part of taxpayers.
The move came with an appeal to taxpayers who are ready to make filings on or before the original April 15 deadline. This is to help the Duterte administration raise enough funds for the scaled-up national efforts to slow the spread of the coronavirus disease (Covid-19).
The extension of the filing may result in the delay and shortfall in tax collections of around P145 billion, which may have to be covered by additional borrowings by the national government, according to the BIR
"This emergency measure is being offered to provide relief to Filipino taxpayers who will not be able to prepare, let alone file, the necessary ITR documents on or before the original annual deadline of April 15 because of skeletal workforce arrangements and enhanced community quarantine rules that the national government has implemented to contain the pandemic," the Department of Finance said.
