REVENUE MEMORANDUM CIRCULAR NO. 75-2020 issued on July 29, 2020 extends the deadline for business registration and/or updates with no penalty imposition of those into digital transactions under Revenue Memorandum Circular No. 60-2020 from July 31, 2020 to August 31, 2020.
Those who shall voluntarily declare their past transactions subject to pertinent taxes and pay the taxes due thereon shall not be subject to the corresponding penalty for late filing and payment when declared and paid on or before the said extended date.
All those who will be found later doing business without complying with the registration/update requirements and those who failed to declare past due taxes/unpaid taxes shall be imposed with the applicable penalties under the law and existing revenue rules and regulations.