On 19 October 2026, the NTBT announced the issuance of delinquency notices to taxpayers who failed to file the 2025 (114th year) individual income tax final return and the 2024 (113th year) undistributed earnings tax return for profit-seeking enterprises. The Bureau emphasized that late filing incurs a penalty of 0.1% of the tax due per day, up to a maximum of 15%, plus interest on unpaid tax. Taxpayers are urged to file and pay immediately to minimize additional charges.
Key Takeaways
- Dual Filing Deadline Missed: The notices target two distinct obligations: individual annual returns and corporate undistributed earnings declarations.
- Penalty Structure: Daily penalty of 0.1% of tax payable, capped at 15%, plus statutory interest on overdue amounts.
- Immediate Action Required: The Bureau provides online filing channels and encourages voluntary compliance to avoid escalation to enforced collection.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement