Income tax return for individuals: penalty for failure to file on time

If you file your income tax return after your due date, you will have to pay a penalty for late filing, known as extemporaneous filing penalty.

This penalty is equivalent to 5% of your tax liability and increases with each month or fraction of a month that passes between the due date and the date on which the tax return is filed. In case your income tax return does not show a value to be paid, the penalty will be calculated as 0.5% of the value of your gross income. In any case, the minimum penalty for 2019 will be $356,000 pesos. That is, just for filing one day late, you would already have to assume a penalty of at least $356,000, even if your income tax return yields a value to pay of zero.

Source: Tributi