Special InTAX: September 2020 Issue 1 | Volume 1

Bureau of Internal Revenue

The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 92-2020, 1 September 2020, to further extend the deadline for business registration of those into digital transactions under RMC Nos. 60-2020 and 75-2020 until 30 September 2020.

The BIR advised taxpayers who are into digital or online transactions to register their business activity on or before the stated date and no corresponding penalty shall be imposed for late registration. Taxpayers who have prior transactions subject to the pertinent taxes are also encouraged to voluntarily declare the same and pay the taxes due thereon, with no penalty for late filing and payment, provided that the same is done on or before 30 September 2020.

However, taxpayers who will be found later doing business without complying with the registration/update requirements and those who failed to declare past due taxes/unpaid taxes, shall be imposed with the applicable penalties under the law and existing revenue rules and regulations.

Attached is the full text of the issuance.

RMC 92-2020