The Revenue Department of the Ministry of Finance has extended the deadline for entrepreneurs to file their tax returns and pay taxes, in response to the spread of COVID-19. The filing and payment of tax will be postponed as follows:
1. Withholding Tax (P.N.D. 1, 2, 3, 53 and 54) incurred in March and April 2020, which must be filed and paid within April and May 2020, is now extended to May 15, 2020.
2. Value Added Tax (VAT):
2.1 VAT due on domestic sales of goods and services (VAT form 30) in March and April 2020, which must be filed and paid within April and May 2020, is now extended to May 23, 2020.
2.2 VAT due on invoices from overseas service providers (VAT form 36) in March and April 2020, which must be filed and paid within April and May 2020, is now extended to May 15, 2020.
3. Special Business Tax (SBT form 40) incurred in March and April 2020 that must be filed and paid within April and May 2020 is now extended to May 23, 2020. This relief does not include profits deriving from the sale of real estate.
4. Stamp Duty (form 4, 4A, and 4B) that must be paid between 1 April and 15 May 2020 is now extended to 15 May 2020.
In addition, the Revenue Department currently has a system that supports filing of tax returns and paying taxes online, thereby reducing the time and the burden of document storage as well as avoiding unnecessary queues to pay taxes in the Area Revenue Office or Area Revenue Branch Offices.
To request more information on Tax Reliefs and E-Filing, please address your request to Accounting & Tax Advisory Department [email protected]