Extended deadline for submission of Sworn Declaration of Inventory by all Gasoline Stations
(Revenue Memorandum Circular No. 06-2020, January 22, 2020)
This Tax Alert is issued to inform all concerned on the extended deadline for submission of the Year-end Sworn Declaration Inventories of Diesel, Gasoline and Kerosene for all gasoline stations in relation to the BIR’s Fuel Marking Program.
The deadline is extended to January 31, 2020 from the previous January 15, 2020. Sworn declarations should be submitted to the Revenue District Office/Large Taxpayers Division where the principal place of business is registered.
The submission was mandated under RMC 2-2020 which prescribes that the inventory shall specify the type and volume of petroleum products. The report shall state whether the inventory has been marked or not to serve as the initial database for monitoring and field testing.
See link below for the updated BIR template of the report.
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