Hi. I'd like to ask for help from the experts :-)
I registered my business with the BIR back in Sept. 2008. I was still employed then and therefore was not really able to make the business fully operational. Out of ignorance, I did not file any returns at all from that time to the present.
Last week, I started working on my BIR Reg. renewal, and today I was told that I need to pay P13,000 in penalties from Sept. 08 to March 09 or P2,000 per month that I did not file! This does not include April 09 to present yet. If they charge me for April 09 to present, that would be an additional P22,000!
Any suggestions on how I can best settle this? I want to be an honest tax payer, but considering that my business wasn't even really operational for 2 years, the P45k would kill me.
Are compromise penalties charged per month?? not based on annual returns??
Thanks in advance for your help.