It isn’t too late to file your income taxes even if you missed the deadline set by the Bureau of Internal Revenue.
You will have to pay a penalty, though. The BIR imposes a penalty of 25 percent of the taxes due.
Those who don’t owe the government any income tax will still have to pay a penalty of P1,000, an InterAksyon report said.
Late filing will also mean paying interest at 20 percent per annum.
“You should pay today to keep interest charges from piling up,” BIR commissioner Kim Jacinto-Henares said in the report.
Taxpayers who beat the April 15 deadline but filed their income tax returns in the wrong Revenue District Office will also have to pay a penalty of 25 percent.
