So next we're going to talk about the BIR, or we called it The Bureau of Internal Revenue,

AS THE NATIONAL TAX AUTHORITY UNDER THE DIRECT CONTROL AND SUPERVISION OF THE Department of Finance

So here the following some part of BIR

1. First we have the • Revenue of regulation NO. 08-2020 which is

" (approved in date 01 of April 2020), providing for the grant of exemption from DST. including DST imposed under Sections
179, 195 and 198 of the Tax Code, on credit extensions and credit restructuring, micro-lending including those obtained from
pawnshops and extensions thereof during the ECQ Period."

▶️So this means that during the ECQ period, individuals or businesses who are extending credit or restructuring loans will not be
required to pay DST, imposed under Sections 179, 195, and 198 of the Tax Code.

2. So next which is •Revenue of regulation of NO. 07-2020 which is

"(approved in date 30 of March 2020, effective immediately), moves the statutory deadline for filing various tax returns by
thirty (30) days, if the deadlines are within certain dates, primarily within the period of emergency beginning day 16 of March
2020. Specifically, the deadline to file 2019 annual income tax returns (AITRS) or all taxpayers is moved from 15 April 2020 to 15
May 2020, without the imposition of penalties. The required attachments to the 2019 AITRS may be submitted on or before 01
June 2020"

▶️This means that taxpayers now have until May 15, 2020, to file their annual income tax returns for the year 2019 without
incurring any penalties. and they have to applies only to the taxpayers who are required to file their Annual Income Tax Returns
on march or before April 15, 2020. Taxpayers who are required to file their AITRS after April 15, 2020, are not covered by this
regulation and must still file their returns on time.

3 So next which is • Revenue Regulations No. 06-2020

"( which is approved in date 30 of March 2020, effective immediately):"

▶️So this mean they provides much-needed relief for taxpayers who are struggling due to the COVID-19 pandemic. By extending
deadlines and suspending tax audit activities, the BIR is helping to ease the financial burden on individuals and businesses
throughout the Philippines.
4. Forth is Revenue Memorandum Circular No. 34-2020

" (approved in date 30 of March 2020, effective immediately), which suspends the running of the statute of limitations for the
BIR to issue deficiency tax assessments and collection notices. The BIR is effectively given an extension of five (5) months from
24 August 2020 within which to issue deficiency tax assessments and collection notices for taxable years that would have
otherwise been barred from being assessed and collected from 16 March 2020 to 24 August 2020."

▶️This means that the BIR has more time to assess and collect taxes from taxpayers who have not yet paid their dues. However,
this also means that taxpayers who have not yet settled their tax obligations may face additional penalties and interests.

5. The fifth which is • BIR Advisory dated 30 of March 2020,

"advising taxpayers to disregard the penalties computed by the electronic Filing and Payment System (eFPS) and pay only the
basic tax due, provided that the payment shall be made on or before the extended deadline that is on 15 May 2020"

▶️This means that taxpayers who are unable to file and pay their taxes on time due to the COVID-19 pandemic may still settle
their tax obligations without incurring additional penalties. The advisory also reminds taxpayers to file their tax returns on or
before the extended due date to avoid further penalties.

6. And lastly which

"The Bureau of Customs (BoC), likewise under the direct control and supervision of the DOF, has issued Customs Administrative
Order (CAO) No. 07-2020, which exempts the importation of critical health equipment and supplies from customs duties and
taxes, for the period from March 25 2020 to June 25 2020."

▶️Which mean Is a part of the government's response to the COVID-19 pandemic, which has affected countries worldwide. The
Philippines, like other nations, is facing a shortage of medical supplies and equipment due to the high demand caused by the
outbreak. The exemption of customs duties and taxes on critical health equipment and supplies aims to address this issue by
making it easier and more affordable for importers to bring in these essential items.

So that's all for the lesson Taxation of the group 3, thank you for listening.