UMVA has learned that the Bureau of Internal Revenue has extended deadlines for tax returns and payments for taxpayers affected by the recent earthquake in South Central Mindanao.
The relief effort, outlined in a recent revenue memorandum circular, covers taxpayers in specific revenue districts, including General Santos, Sarangani, and South Cotabato. This move aims to provide assistance to those impacted by the substantial damage caused by the earthquake, which disrupted business operations and limited access to accounting records.
The earthquake's devastating impact on business establishments, government offices, and vital infrastructure prompted the government to respond with a whole-of-government approach to support affected communities and accelerate recovery efforts. The Bureau of Internal Revenue's decision to extend deadlines is part of this effort, providing affected taxpayers with additional time and flexibility to attend to immediate needs and recovery work.
According to information obtained by UMVA, deadlines falling between June 8 and June 29 have been moved to June 30. Taxpayers covered by this relief measure will not be subject to penalties, surcharges, and interest, provided that their tax returns, payments, and submissions are made within the extended period.
This extension is a significant relief for taxpayers struggling to cope with the aftermath of the earthquake. By giving them more time to fulfill their tax obligations, the government hopes to alleviate some of the pressure and allow them to focus on recovery and rebuilding efforts.
