On April 6, 2021, the Bureau of Internal Revenue (BIR) released Revenue Memorandum Circular No. 46-2021.
Sorry, everyone, but there will be no extension.
This circular informs Filipino Taxpayers that there will be no extension for the filing of Annual Income Tax Returns (AITR) for the taxable year ending December 31, 2020. The announcement comes on the heels of several news reports that a possible extension on the usual April 15 deadline might be granted in light of the pandemic and the ensuing lockdown.
As current lockdown measures may make it difficult for taxpayers to comply, a tentative AITR can be filed on or before April 15. Any amendments may be made on or before May 15, 2021 without incurring penalties or an imposition of increments.
Filipino taxpayers are to be informed that any amendments or revisions resulting in an overpayment of taxes can either be carried over as tax credit for the same type of tax for the next filing period. Taxpayers may also opt to refund an overpayment after filing the proper forms.
Also following the release of Republic Act No. 8792, all the tax returns, attachments, and documents identified above may be signed using an e-Signature which will be considered as good as an actual signature.
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