Groups of accountants, bankers, auditors plead for extension of April 15 tax deadline

Tax managers would appeal the Bureau of Internal Revenue’s (BIR) decision to stick with the April 15 deadline to file annual income tax returns (ITRs) despite the one-month quarantine of Luzon to prevent the spread of the COVID-19 disease.

Romeo H. Duran, president of Tax Management Association of the Philippines Inc., said his group might appeal reconsideration of the deadline.

In an order issued on Monday (March 16), the BIR asked taxpayers to electronically file 2019 ITRs to beat the deadline mandated by the Tax Code.

It also offered other options like allowing tentative returns to be filed.

As early as March 10, before the Metro Manila quarantine and its expansion to cover the entire island of Luzon, several groups of accountants and bankers had asked Finance Secretary Carlos G. Dominguez III for a 30-day extension of the April 15 deadline.

“The continuing threat of the virus presents challenges to everyone,” said a letter to Dominguez signed by leaders of five accountants, auditors and bankers groups.

The groups said auditors, bankers, tax practitioners and accountants “are now in a difficult situation,” the letter said.

It said transport restrictions and quarantine rules “will certainly affect significantly our members’ audit of financial statements of companies.”

Edited by TSB