Common BIR and SEC Penalties in the Philippines — and How to Avoid Them
Missed a tax deadline? Filed the wrong form? Or worse—forgot to file at all? You’re not alone. But the truth is, tax penalties in the Philippines can snowball fast—especially if you’re running a business or freelancing solo. Here’s a breakdown of common BIR and SEC penalties, how much they cost, and how to avoid them before they haunt your finances. These apply even if you earned nothing during the period—non-filing is still penalized. Common BIR & SEC Penalties (Philippines) 1. Late Filing with the BIR If you file after the due date (monthly, quarterly, or annual tax returns), you’re automatically…