Dear Valued Clients,

Pursuant to Republic Act No. 11469, or the Bayanihan to Heal as One Act, the Department of Finance and the Bureau of Internal Revenue (“BIR”) extended deadlines of tax filings and payments affected by the Enhanced Community Quarantine (“ECQ”) without imposition of interest and penalties.

In view of the further extension of the ECQ until 15 May 2020, the BIR issued Revenue Regulations No. 11-2020 to modify the extended statutory deadlines, which we summarize and outline as follows:

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Withholding Tax Remittance Return for Onerous Transfer of Real Property Other Than Capital Asset (BIR Form 1606);Regarding One-Time Transaction (“ONETT”), if the date for payment will fall due within the period of ECQ starting 16 March 2020, the extended period to file and pay the corresponding taxes due thereon is thirty (30) days from the lifting of the ECQ. The following are considered as ONETT transactions:

  1. Capital Gains Tax Return for Onerous Transfer of Real Property Classified as Capital Asset (BIR Form 1706);
  2. Capital Gains Tax Return for Onerous Transfer of Shares of Stocks Not Traded Through the Local Stock Exchange (BIR Form 1707);
  3. Donor’s Tax Return (BIR Form 1800); and
  4. Estate Tax Return (BIR Form 1801).

If the new extended due dates will fall on a holiday or non-working day, then the filing and/or payment of taxes shall be the next working day.

Attached is a copy of RR 11- 2020 for immediate reference.

Best regards,

Divina Law Offices