Interest under RR 21-2018

Interest on unpaid taxes at the rate of double the effective legal interest rate for laons or forbearance set by the BSP.

The rate of interest per BSP Circular No. 799 series of 2013 for loans or forbearance of any money in the absence of an express stipulation is 6%. 

Thus, the arte of legal interest imposable shall be 12%. 

Surcharge and Interest on Filing Amended Returns shall be 25% surcharge for late payment and 12% Interest per annum from due date to date paid shall be imposed based on the additional tax to be paid.