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The Philippine taxation law provides that the annual income tax should be paid to the government on or before April 15th of every year, otherwise,
The Philippine taxation law provides that the annual income tax should be paid to the government on or before April 15th of every year, otherwise, penalties and surcharges shall be imposable without demand for payment. However, John paid his annual income tax of P30,000 on July 15. He will be liable for: (1) the basic tax of P30,000; (2) interest of 12% per annum; and (3) surcharge of 25%. a. 3 only because the law so provides. b. All of the above c. 2 only because the law so provides. d. 1 only because there was no demand by the BIR
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