06-02-2019, 12:14 PM
Whenever the taxpayer is considered delinguent or there is a tax deficiency, the taxpayer is subjected to a 25% civil penalty or surcharge on the amount of tax due. Should there be willful neglect to file a return or a false or fraudulent return is willfully made, then the civil penalty or surcharge is 50%.
Provided that failure to report sales, receipts of income in an amount exceeding 30% or a claim of deductions in an amount exceeding 30% of actual deductions shall constitute prima facie evidence of a false or fraudulent return. (Sec. 248, NIRC).
Also, any unpaid amount of tax shall be assessed and collected a 20% per annum interest from the date prescribed for payment until the amount is fully paid (Sec. 249, NIRC)
Provided that failure to report sales, receipts of income in an amount exceeding 30% or a claim of deductions in an amount exceeding 30% of actual deductions shall constitute prima facie evidence of a false or fraudulent return. (Sec. 248, NIRC).
Also, any unpaid amount of tax shall be assessed and collected a 20% per annum interest from the date prescribed for payment until the amount is fully paid (Sec. 249, NIRC)