BIR, SEC and PEZA NCOV-19 Related Issuances

By: Hergie Ann De Guzman

(Update as of March 23, 2020)

The entire Luzon was placed under Enhanced Community Quarantine as declared by President Rodrigo R. Duterte on March 16, 2020, for the prevention of the continuous spread of the Novel Corona Virus Disease (NCOV-19). While the Community Quarantine was being implemented, business owners and taxpayers are left with very limited actions for the continuance of their usual business and for the compliance of the statutory deadlines of certain returns and reports. To address these concerns, different government agencies such as Bureau of Internal Revenue (BIR), Securities and Exchange Commission (SEC), and Philippine Economic Zone Authority (PEZA) have released issuances and advisories. Below are the issuances/ advisories from each agency:

Revenue Issuance Description RMC Date Date of Issuance
RMC 25-2020 No Extension for the Filing and Payment of 2019 Income Tax Return March 16, 2020 March 17, 2020
RMC 26-2020 Filing and Payment of Certain Taxes Due March 17, 2020 March 17, 2020
RMC 27-2020 Extension of Deadline for VAT Refund Applications for Quarter 1 2018 and the 90-day Processing Period March 17, 2020 March 18, 2020
RMC 28-2020 Extension in the Filing of 2019 Income Tax Returns and Required Attachments March 18, 2020 March 18, 2020
RMC 29-2020 Filing and Payment of Certain Taxes Due, as an amendment to RMC 28-2020 March 19, 2020 March 19, 2020
RMC 30-2020 Filing and Payment of Certain Taxes Due, as an amendment to RMC No. 29-2020 and Clarification on RMC No. 28-2020 March 23, 2020 March 23, 2020
RMC 31-2020 Extension of the Period of Submission of Filing of Documents and Correspondences March 23, 2020 March 23, 2020
RMC 32-2020 Extension on Deadline of Filing Certificate of Residence for Tax Treaty Relief (CORTT) Forms March 20, 2020 March 23, 2020
  • SEC
    • Memorandum Circular (MC) No. 05-2020 – Extension on the Submission of Audited Financial Statements
  • PEZA
    • MC No. 2020-011 – PEZA Assistance to Ecozone IT Enterprises in Responding to COVID-2019; and,
    • MC No. 2020-012 – PEZA Services, Assistance and Advisory Re: COVID-19 Situation

We have summarized the extension of deadlines and modes of submission based on the content of the above issuances for easy reference. Please feel free to view the file here.

Updates

SEC Memorandum Circular No. 10 Series of 2026

Revenue Regulations No. 001-2026

SEC MEMORANDUM CIRCULAR NO. 9 – 2026 Filing of Annual Financial Statements and General Information Sheet

Revenue Regulations No. 029-2025

Revenue Regulations No. 28-2025

Revenue Regulations No. 27-2025 Amends Section 8 of Revenue Regulations No. 25-2003 on the Tax Treatment of Subsequent Sale, Transfer of Exchange of Tax-Exempt Automobile by a Tax-Exempt Person/Entity to a Non-Exempt Person/Entity

Revenue Regulations No. 26-2025 Amending the Transitory Provision of Revenue Regulations No. 11-2025 Extending the Compliance Period for Electronic Invoice Issuance by Covered Taxpayers
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