
REVENUE MEMORANDUM CIRCULAR NO. 34-2020 issued on March 30, 2020 suspends the running of the Statute of Limitations in the assessment and collection of taxes pursuant to Section 223 of the National Internal Revenue Code (NIRC) of 1997, as amended, due to the declaration of a National Emergency from the 2019 Corona Virus Disease (COVID-19) situation.
The cited provisions and stated circumstances warrant the nationwide suspension of the running of the Statute of Limitations under Sections 203 and 222 of the NIRC 1997, as amended, for a period starting March 16, 2020 until the lifting of the State of National Emergency and for sixty (60) days thereafter. The suspension of the running of the Statute of Limitations shall likewise apply with respect to the issuance and service of assessment notices, warrants and enforcement and/or collection of deficiency taxes.