About this document
BIR Penalties for Late Tax Filing by Jomar Villena is a document available to read on EtoBox.
Penalties for late filing of tax returns include surcharges, interest, and potential criminal penalties depending on the nature of the violation. Surcharges are 25% of tax due for failure to file and pay on time. Interest accrues at 20% annually until full payment. Criminal penalties range from fines between P1,000 to P50,000 and imprisonment up to 10 years depending on the tax amount and type of violation. Compromise penalties are also provided on a sliding scale based on tax amount. Late filing of returns
- Author
- Jomar Villena
- Language
- EN