On 15 September 2020, the Bureau of Internal Revenue (BIR) published Revenue Memorandum Circular (RMC) No. 98-2020 to extend the submission deadline of related party transaction Form, or the Form BIR 1709. The initial extended due date is 30 September 2020 for the year ending 31 March 2020.

Note that, taxpayers required to submit BIR Form 1709 and its supporting documents, as attachment to the Annual Income Tax Return. Due to the continuing adverse impacts of COVID-I9 pandemic, and in order to assist the taxpayers, individuals or non-individuals, the Circular provided an extension for the submission dates of Form BIR 1709 and its required documents as follows:

Annual Income Tax ReturnExtended Deadline
For Fiscal Year Ending 31 March 2020 and 30 April 202029 December 2020
For Fiscal Year Ending 31 May 2020 and 30 June 202031 January 2021
For Fiscal Year Ending 31 July 2020 and 31 August 20201 March 2021
For Fiscal Year Ending 30 September 2020 and 31 October 202031 March 2021
For Fiscal Year Ending 30 November 2020 and Calendar Year Ending 31 December 202030 April 2021