REVENUE MEMORANDUM CIRCULAR NO. 92-2020 issued on September 1, 2020 further extends the deadline for business registration of those into digital transactions (under Revenue Memorandum Circular Nos. 60-2020 and 75-2020) from August 31, 2020 to September 30, 2020.
All those engaged in digital or online transactions who will register their business activity on or before the said extended deadline shall not be imposed penalty for late registration. Taxpayers who have prior transactions subject to pertinent taxes are encouraged to voluntarily declare said transactions and pay the taxes due thereon, with no penalty for late filing and late payment, provided the same is done on or before the said extended due 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.