Tax Alert No. 72 [Revenue Memorandum Circular (RMC) No. 98-2020 dated 14 September 2020]

15 Sep 2020

Clarifying the submission of BIR Form No. 1709, or the Related Party Transaction Form, and its attachments as prescribed in Revenue Regulations (RR) No. 19-2020

The Commissioner of Internal Revenue has issued RMC No. 98-2020 which provides the extended deadline for the submission of BIR Form No. 1709 and its required documents. The extension allows taxpayers to have sufficient time to comply with the mandates of RR No. 19-2020.

The extended due dates are as follows:

Annual Income Tax Return for Fiscal Year (FY)/Calendar Year (CY)	Extended Deadline
FY ending 31 March 2020 and 30 April 2020	29 December 2020
FY ending 31 May 2020 and 30 June 2020	31 January 2021
FY ending 31 July 2020 and 31 August 2020	1 March 2021
FY ending 30 September 2020 and 31 October 2020	31 March 2021
FY ending 30 November 2020 and CY ending 31 December 2020	30 April 2021