The Department of Finance said Tuesday it is extending again until the middle of 2021 the deadline on tax amnesty and voluntary assessment program to ease taxpayers’ burden under COVID-19-related mobility restrictions.
The DOF said in a statement it issued Revenue Regulations 32-2020 and 33-2020 extending until June 2021 the respective deadlines for availing of the Tax Amnesty on Delinquencies and Voluntary Assessment and Payment Program.
The original deadline for availing of the TAD was Dec. 31, 2020, as stated under RR No. 15-2020. This revenue regulation was an amendment to RR Nos. 11-2020, 10-2020 and 7-2020, which were issued by the BIR to implement Republic Act No. 11213 or the Tax Amnesty Law.
“The new regulations were issued under RA 11494 or the Bayanihan to Recover As One Act, which allowed the extension of statutory deadlines and timelines to ease the taxpayers’ burden under COVID-19-related mobility restrictions,” the DOF said.
RR No. 33-2020 also extended the deadline for availing of the VAPP.
Initiated by the DOF and the Bureau of Internal Revenue under RR 21-2020, the VAPP lets taxpayers voluntarily settle their unpaid internal revenue tax, with or without an ongoing audit/investigation.
Those who will do so would not be audited for 2018 for the tax types availed.
The BIR said that as of end-November, it collected more than P200 million from the program with just three months of implementation.
The majority of the applicants were small business taxpayers who wish to settle their 2018 tax liabilities.
“We are delighted that the VAPP has been helping our small and medium taxpayers settle their 2018 tax obligations while also generating additional revenue collection for the BIR. The same goes with the TAD program,” Undersecretary Antonette Tionko of the DOF Revenue Operations Group said.
“By further extending the two programs, we hope to help more taxpayers settle their tax deficiencies amid the pandemic,” she said.