A taxpayer received a notice from the BIR to file his 2020 income tax return not later than January 15, 2022. The tax due per his return is P100,000. What is the total surcharge penalty? P0 P25,000 P20,000 P50,000

A taxpayer received a notice from the BIR to file his 2020 income tax return not later than January 15, 2022. The tax due per his return is P100,000. What is the total surcharge penalty? P0 P25,000 P20,000 P50,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

A taxpayer received a notice from the BIR to file his 2020 income

tax return not later than January 15, 2022. The tax due per his return

is P100,000. What is the total surcharge penalty?

P25,000

P20,000

P50,000

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