Tax Alert No. 3 [Revenue Memorandum Circular No. 136-2020 dated 17 December 2020]

Clarification on the Suspension of the Statute of Limitation provided under Revenue Regulations (RR) No. 11-2020

The Commissioner of Internal Revenue (CIR) has issued RMC No. 136-2020 to clarify that the suspension of the Statute of Limitation provided in the matrix of RR No. 11-2020 shall start from 16 March 2020 until 60 days from the lifting of the quarantine. With such suspension, the counting of the three-year prescriptive period for the period to assess and the five-year period to collect shall exclude the number of days covered by the period of suspension which is a total of 137 days.

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