BIR sets interim rules for pandemic-era tax loss claims

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MANILA, Philippines — The Bureau of Internal Revenue (BIR) issued temporary filing procedures allowing businesses to claim pandemic-era tax losses after its electronic systems failed to accommodate the extended carry-over period.

In Revenue Memorandum Circular No. 081-2026, the BIR said the Offline eBIRForms Package and Electronic Filing and Payment System (eFPS) still only allow Net Operating Loss Carry-Over (NOLCO) claims from the previous three taxable years, despite the five-year extension granted under Republic Act No. 11494, or the Bayanihan to Recover as One Act.

READ: BIR topped revenue target anew in May

Under the law, businesses that incurred NOLCO in taxable years 2020 and 2021 may carry over the losses as deductions from gross income for the next five consecutive taxable years.

BIR sets interim rules for pandemic-era tax loss claims

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