The Bureau of Internal Revenue (BIR) has extended the deadline for the filing of tax returns and payment of taxes, including submission of reports and attachments for taxpayers in areas under enhanced community quarantine (ECQ) and modified enhanced community quarantine (MECQ).
Under Revenue Memorandum Circular (RMC) No. 91-2021, the deadline for the filing that falls from August 6 to August 20 was extended for 15 calendar days from the lifting of ECQ or MECQ, BIR said in a statement. (Read: What will happen to your subscriptions if the gov’t taxes Spotify, Netflix?)
“By providing them with this extension, taxpayers affected by quarantine restrictions need not worry much of complying with their tax obligations while helping the country take precautions to prevent the further spread of the deadly variant,” BIR Commissioner Caesar Dulay underscored.
Options to pay
During the 15-day extension period, taxpayers are given three options to pay internal revenue taxes, which are as follows:
- at the nearest authorized agent banks (AABs) notwithstanding revenue district office (RDO) jurisdiction;
- through the concerned revenue collection officers (RCOs) of the nearest RDO, even in areas where there are AABs;
- online tax payment facilities such as the Land Bank of the Philippines, Link.Biz Portal, DBP Pay Tax Online, Unionbank, GCash, and Paymaya.
According to BIR, if the extended deadline falls on a non-working day or holiday, the same shall be on the next working day. (Read: Caritas Philippines Expresses Support To Commission on Audit, Calls Them ‘Bastion of Truth’)
No loan moratorium
The Bangko Sentral ng Pilipinas (BSP) said it would no longer issue a mandatory moratorium or grace period for loans during the two-week lockdown. However, clients could ask their banks for relief.
“Bank clients may continue to approach their banks for financial relief even if the Bangko Sentral ng Pilipinas (BSP) will not issue a mandatory moratorium or grace period for loans during the Enhanced Community Quarantine from 6 to 20 August 2021,” the BSP stated in a news report from ABS CBN.
Since the ECQ is “less strict” this year, many establishments did not offer grace periods. During the height of the pandemic in March 2020, malls, landlords, banks, and utility distributors have given grace periods for bills and loans. (Read: Mayor Vico Sotto Named Anticorruption Champion by US State Department)
Banks and clients may also agree on loan terms that fit the bank’s financial capability and client’s financing requirements, BSP added.