One of the implementations of the Ease of Paying Taxes (EOPT) Law is the imposition of reduced penalty computation for MICRO and SMALL taxpayers. This law is effective starting January 22, 2024.
Revenue Regulations No. 6-2024 prescribes the new penalty computation for MICRO and SMALL taxpayers:
Penalties | Micro and Small Taxpayers | Medium and Large Taxpayers |
Surcharge | 10% | 25% |
Interest | 6% | 12% |
Compromise | 50% of Compromise Table |
For Taxumo to properly compute penalty computation, please update your taxpayer’s classification in the Settings page.