Bureau of Internal Revenue Commissioner Kim Jacinto-Henares reminds all Filipinos that the BIR is keeping its April 15 deadline for the filing their income tax returns (ITR) despite falling within the Holy Week. Failure to submit their ITRs, Henares says will result in a penalty of 25 percent and 20 percent interest per annum. Income tax is a portion of the gross income that is taxed by the government. The ITR breaks down the respective deductions from the gross income to arrive at the income tax that must be paid. The BIR chief hopes that with its reinforced campaign against tax cheats, taxpayers would file and pay their correct taxes this time. [caption id=