Ang lupet!!! Dominguez sticks to April 15 ITR filing deadline despite virus outbreak

Finance Secretary Carlos Dominguez III said the deadline for filing of annual income tax returns is still April 15 despite the ongoing coronavirus threat.

Dominguez said they couldn’t adjust the ITR filing deadline, which is prescribed under the law.

He explained that the government “can allow amendment of returns without payment of interest, subject to certain conditions like no variance of more than 25%.”

“This will be in line with the SEC’s (Security and Exchange Commission) extension of deadline of the filing of audited FS (financial statement) of 60 days,” he said.

Malacañang has placed Metro Manila under community quarantine from March 15 to April 14, 2020 after the inter-agency Task Force on Emerging Infectious Diseases raised to sub-level 2 the status of the situation in the country due to the growing cases of coronavirus in the country.

In a press briefing in Malacanang last week, BIR Collection Service Head Revenue Executive Assistant Rosario Padilla encouraged taxpayers to tap the agency’s online platform, accessible through its website www.bir.gov.ph, to file their 2019 income tax instead of going to the various BIR offices to limit their exposure to the virus.

As of today, DOH reported 140 confirmed cases and 11 deaths across the country. (PNA)

Profit of Yap-led CEU clobbered by pandemic restrictions

Centro Escolar University (CEU), controlled by he heirs of the late Don Emilio Yap, saw a 23 percent decline in net income during its fiscal year ending May this year to P119.05 million due to the deferral of revenues and recognition of contract liabilities.

Germany raids properties belonging to Russian oligarch

German investigators on Wednesday raided properties belonging to a Russian oligarch suspected of tax evasion and breaking EU sanctions, police and prosecutors said, with sources naming billionaire Alisher Usmanov as the target.

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