The Securities and Exchange Commission (SEC) said companies will have until June 30 to file their 2019 annual report in consideration of the havoc caused by COVID-19.
“For companies with domestic and foreign operations, the filing period is extended until June 30 or 60 days from the date of lifting of travel restrictions by concerned government authorities, whichever comes later,” the SEC said.
“The filing period for the quarterly reports (SE Form 17-Q) of publicly listed companies and registered issuers of securities for 2020 will accordingly adjust,” it added.
The SEC said the extension however is limited to companies affected with COVID-19, while those “whose preparation of financial statements or completion of statutory audits are not affected by the COVID-19 outbreak are required to file their annual reports and/or annual financial statements for the year ended December 31, 2019 within the periods prescribed under existing rules and regulations.”
“The new coronavirus disease, COVID-19, has posed specific challenges to some Philippine companies in complying with certain reportorial requirements,” said Emilio B. Aquino, SEC chairman.
