Sunday, September 9, 2012
Section 255 of R A 7160
SEC. 255. Interests on Unpaid Real Property Tax. - In case of failure to pay the basic real property tax or any other tax levied under this Title upon the expiration of the periods as provided in Section 250, or when due, as the case may be, shall subject the taxpayer to the payment of interest at the rate of two percent (2%) per month on the unpaid amount or a fraction thereof, until the delinquent tax shall have been fully paid: Provided, however, That in no case shall the total interest on the unpaid tax or portion thereof exceed thirty-six (36) months.
Subscribe to:
Post Comments (Atom)
The most that the government can impose the penalty taxes is the maximum of 72% no other. meaning onthe the 4th year of delinquency and other years of unpaid taxes, all of these years, the government will impose only 72% and nothing bigger.
ReplyDelete