THE Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) 98-2020 to inform all concerned on the extended deadline of submission of Information Return on Related Party Transactions (BIR Form 1709) and its supporting documents for taxpayers with fiscal years ending March 31, 2020 to Nov. 30, 2020. For the submission for calendar year ending Dec. 31, 2020, the deadline shall be April 30, 2021.

Due to the continuing effects of the Covid-19 pandemic, the submission of BIR Form 1709 and its required supporting documents as attachments to the Annual Income Tax Return shall be extended as follows:

Please be guided accordingly.

Source:

P&A Grant Thornton Certified Public Accountants