Leni Robredo

Last day of tax filing today

Rappler.com

Today, April 16, is the deadline for filing of income tax returns and payment of the corresponding taxes. Those who fail to file ITRs by April 16 will face 25% surcharge, 20% interest rate, according to Bureau of Internal Revenue (BIR) Commissioner Kim Henares. Since April traditionally brings the highest monthly collection for the BIR, the agency hopes to book tax collections of P122.8 billion this month out of the 2012 full year target of P647.335 billion from taxes on income and profits.

Read more on Rappler and watch on ABS-CBN.