RR No. 15-2003 — Grants taxpayers with accounting period ended December 31, 2002 an extension of time up to April 21, 2003 within which to file their Income Tax returns (published in Manila Bulletin on April 17, 2003) Digest | Full Text

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE Quezon City April 15, 2003 REVENUE REGULATIONS NO. 15-2003 SUBJECT: Granting Taxpayers with Accounting Period Ended December 31, 2002 An Extension of Time up to April 21, 2003 within which to File their Income Tax Returns TO : All Internal Revenue Officers and Others Concerned SECTION 1. SCOPE. � Pursuant to the provisions of Section 244, in relation to Sections 53 and 56, all of the Tax Code of 1997 (Code), these Regulations are hereby promulgated in order to extend the time to file the income tax returns of compensation income earners, including non-business/non-profession related income, and taxpayers, whether individuals, estates and trusts, corporations and partnerships, engaged in trade or business or in the exercise of profession or otherwise, with accounting period ended December 31, 2002. SEC. 2. � POWER TO EXTEND THE TIME TO FILE INCOME TAX RETURNS. - By virtue of the power of the Commissioner to enforce the provisions of the Code under the supervision and control of the Secretary of Finance, he may, in meritorious cases, grant a reasonable extension of time for filing returns of income (or final and adjustment returns) subject to the provisions of Section 56 of the same Code. In view thereof, the filing of income tax returns of subject taxpayers is hereby extended to April 21, 2003 and they may file their income tax returns and pay the applicable amount of tax due thereon on or before the said period of extension. This is to compensate for lost time and opportunity of the taxpayers to file their income tax returns due to perceived systems failure of the Electronic Filing and Payment System (EFPS) of the Bureau of Internal Revenue and for the reduced bank work force due to the fact that April 15, 2003 falls within the Holy week of the year when so many bank employees go on leave. SEC. 3. EFFEECTIVITY. � These regulations shall take effect immediately. (Original Signed) NIEVES L. OSORIO Officer-in-Charge and Undersecretary Recommending Approval: (Original Signed) GUILLERMO L. PARAYNO, JR. Commissioner of Internal Revenue