Income Tax

How to Compute Delinquent Interest on Tax Due 2019?

Recently, the Bureau of Internal Revenue(BIR) issued the Revenue Regulation no. 21-2018 to impose the new interest rate on deficiency tax due. This regulation was issued on September 14, 2018. The previous interest rate on deficiency tax due was 20% and it decreases due to the implementation of train law 2019 to 12%. Here is the details on the new interest rate on deficiency tax due for this year 2019. (more…)