Legal analysis: 1. Generate fines and late fees. If you fail to declare on time, the tax authorities will punish the overdue declaration according to the circumstances. In addition, if there is a taxable amount, a late payment fee of 0.5 ‰ will be levied every day.

2. Unable to declare online. During the reporting period, you can easily complete the business of copying tax returns, reporting and clearing cards online without leaving home, but if the reporting period is over, you can only bring the corresponding information to the tax service hall of the competent tax authority for handling.

3. Affect the tax credit rating. If you fail to file tax returns within the prescribed time limit, you will be deducted every time when evaluating the taxpayer's credit rating, which will directly affect your tax credit rating.

Legal basis: Article 2 of the Constitution of the People's Republic of China All power of the People's Republic of China belongs to the people.

The organs where the people exercise state power are the National People's Congress and local people's congresses at various levels.

The people manage state affairs, economic and cultural undertakings and social affairs through various channels and forms in accordance with the law.