REVENUE REGULATIONS NO. 7-2020 issued on March 30, 2020 implements Section 4 (z) of Republic Act No. 11469 (Bayanihan to Heal as One Act), particularly on the extension of statutory deadlines and timelines for the submission and/or filing of several documents and/or returns, as well as the payment of several taxesspecified in the Regulations.

               The extension of the statutory deadline shall not prejudice any submission and/or filings made before the enactment of these Regulations, as well as those submissions and/or filings to be made effective pursuant to the original deadline set forth under the Tax Code, as amended, should the taxpayers still opt to follow the said deadlines.

               The extension of the statutory deadlines set in the Regulations may be further extended by the Commissioner of Internal Revenue, if the circumstances warrant tor such an extension or as may be directed by the Secretary of Finance.