Tax Alert No. 33 [BIR Advisory issued on 28 April 2021]

Advisory on the filing of amended Annual Income Tax Returns (AITR) for taxable period ending 31 December 2020 

The Commissioner of Internal Revenue has issued a BIR Advisory which provides the following:

• The attachments to the electronically filed amended AITR shall be submitted on or before 30 May 2021 to the Revenue District Office where the taxpayer is registered or through the Electronic Audited Financial Statement (eAFS) System.
• No penalty shall be imposed for non-submission of attachments to filed AITR but later amended on or before 15 May 2021.
• Attachments to the tentative AITR electronically filed on or before 15 April 2021 shall be made on or before 30 May 2021.
• Taxpayers who submitted the attachments to the AITR but will amend their returns as a result of correction of tax rates used need not resubmit the same documents.
• Taxpayers amending their AITR for reasons other than correction of AITR shall submit the required attachments on or before 30 May 2021. However, if no revisions and/or changes resulted from the amendment on the documents already submitted, attachments to the amended AITR need not be resubmitted.