The Bureau of Internal Revenue (BIR) has extended the deadline for registration of online businesses to September 30, 2020.
This is second extension that the agency issued due to “a surge of registrants in various revenue district offices that are trying to beat the deadline,” according to the Revenue Memorandum Circular (RMC) No. 92-2020.
“Considering this and the BIR’s resource constraints at this time of quarantine protocols due to the COVID-19 pandemic, the deadline is further extended to Sept. 30, 2020,” Internal Revenue Commissioner Caesar Dulay added.
On the other hand, The BIR clarified that small online sellers or those who earn P250,000 and below annually are exempted from registering their business.
Businesses that will fail register on time will face penalties, the agency warned.
“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 rule and regulations.”
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Radiowealth Finance Company Inc.
SEC Company Reg. No. AS9600005A
Certificate of Authority No. 173
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