All persons who derived income in the Philippines should pay income tax. 2. Married persons may file only one consolidated return to cover the income of both spouses. 3. A surcharge of 20% and interest of 25% per annum shall be imposed on taxpayer who filed late his income tax return. 4. Corporations in process of liquidation or under receivership must file income tax returns. 5. A taxpayer who does not receive notice of assessment from the BIR is not liable to pay the deficiency if any. 6. When the taxpayer failed to file his income tax return, the prescriptive period for assessment is three (3) years from omission