The Bureau of Internal Revenue (BIR) extends anew the deadline for the filing of Income Tax Return (ITR) until the end of May through the Revenue Regulation (RR) No. 10-2020.
BIR Deputy Commissioner Arnel Guballa saya they did this since the enhanced community quarantine was extended. The deadline was initially moved to May 15.
Around 40 types of transactions have been given new deadlines by the bureau.
Meanwhile, the Department of Finance (DOF) earlier announced a Php 5,000 to Php 8,000 subsidy in May for eligible workers affected by the Luzon ECQ through the Small Business Wage Subsidy Program.
The program will cover workers of small businesses who are not part of the 2,000 large taxpayers of BIR.
More than three million employees are expected to receive the subsidy with more than two million considered as priority. These employees are those working under an employer who pays taxes to the BIR and contributes to the Social Security System (SSS).
The DOF explained it is easier to identify companies registered with the BIR and SSS. The transfer of subsidy will also be quicker through banks and e-wallets registered with the SSS.
Aside from assistance to workers, the government earlier announced to allow grace periods for rents and loans. – Report from Naomi Tiburcio
