Revenue Regulations (RR) No. 5-2020 dated 16 March 2020 and Revenue Memorandum Circular (RMC) No. 33-2020 dated 24 March 2020 extends the deadline to avail of the Tax Amnesty on Delinquencies (TAD) to 23 May 2020.
Due to the COVID-19 Global Pandemic, RR No. 5-2020 was issued amending Section 3 of RR No. 4-2019, essentially declaring that the deadline for availing the TAD may be extended if the circumstances warrant an extension due to country-wide economic or health reasons.
To complement this, the BIR issued Revenue Memorandum Circular (RMC) No. 33-2020 officially extending the deadline to avail of the TAD from 23 April 2020 to 23 May 2020.
Actions to Consider
The extension of the deadline gives taxpayers more time to gather documents and prepare its application for the TAD. We advise taxpayers to continue to monitor developments introduced by government as it continues to adjust deadlines in light of the expanded community quarantine.