Tax Alert No. 2 [Revenue Regulations No. 32-2020 dated 21 December 2020]

Further amendments to Revenue Regulations No. 4-2019, as amended, on Tax Amnesty on Delinquencies

The Secretary of Finance has issued RR No. 32-2020 which extends the availment of tax amnesty on delinquencies until 30 June 2021 pursuant to Section 4(tt) of Republic Act No. 11494, otherwise known as “Bayanihan to Recover as One Act”. The said provision allows the moving of statutory deadlines for the filing and submission of documents, including the payment of taxes, as required by law in order to ease the burden of individuals under community quarantine.

Tax amnesty on delinquencies may be availed by all persons, whether natural or juridical, with internal revenue tax liabilities covering taxable year 2017 and prior years.

You may also access the full version of the Revenue Regulations through the BIR website.