PH BIR Form 2551M 2002 free printable template

(To be filled up by the BIR) DAN: SIC: BIR Form No. Monthly Percentage Tax Return Republican NG Filipinas Catamaran NG Pananalapi Hawaiian NG Rental Internal 2551M April 2002 (ENDS) Fill in all applicable

How to fill out monthly percentage tax return

How to fill out PH BIR Form 2551M

1. Obtain a copy of BIR Form 2551M from the BIR website or local BIR office.
2. Fill out your Taxpayer Identification Number (TIN) on the top section of the form.
3. Indicate your registered name and address as listed in your BIR registration.
4. In the 'Quarterly Income Tax' section, enter your gross receipts for the applicable quarter.
5. Deduct any allowable expenses to calculate your net income.
6. Fill in the tax rates applicable to your income bracket.
7. Compute the total tax due based on your net income.
8. Fill out any other required sections, such as payments made or any tax credits.
9. Review the form for accuracy and completeness before signing.
10. Submit the completed form to your local BIR office or through the online system before the deadline.

Who needs PH BIR Form 2551M?

1. Individuals or entities engaged in business who have opted for the 'Percentage Tax' scheme.
2. Self-employed individuals, professionals, and businesses with gross sales or receipts not exceeding the prescribed threshold.
3. Freelancers and other service providers who are required to report their income for tax purposes.

• Who needs a BIR Form 2551 m?
• What is BIR Form 2551 m for?
• Is BIR Form 2551 m accompanied by other forms?
• • When is BIR Form 2551 m due?
  • How do I fill out BIR Form 2551 m?
  • Where do I send BIR Form 2551 m?

Who needs a BIR Form 2551 m?

This Monthly Percentage Tax Return, BIR Form 2551 m, must be filed by the following entities:

• Not a VAT-registered persons whose amount of annual sales turnover is not exceeding P1.500.000;
• Residents keeping garages, except bancos and animal-drawn vehicle owners;
• International air and shipping carriers operating in the Philippines;
• Franchise grantees of gas and water utilities; not a VAT-registered radio and/or television broadcasting companies with the gross annual not exceeding Ten A Million Pesos (10,000,000). Banks and other kinds of financial companies;
• Domestic insurance companies and foreign insurance agents.

What is BIR Form 2551 m for?

This form is used as a standard monthly tax return. Based on this declaration, the monthly amount of the tax is to be paid.

Is BIR Form 2551 m accompanied by other forms?

The following documents must accompany the filing of a Monthly Percentage Tax Return: Certificate of Creditable Tax Withheld at Source, if applicable; Duly approved Tax Debit Memo, if applicable.

When is BIR Form 2551 m due?

This form must be submitted before the 20th day following the reporting month. At the close of business, everyone is obliged to submit the return and pay the tax within 20 days after the close of business as well.

How do I fill out BIR Form 2551 m?

Tax period, background information on the taxpayer, computation of tax and details of payment should be specified in order to complete this monthly tax return. To the point, you may check the instruction for completing the form on page three.

Where do I send BIR Form 2551 m?

Once completed and signed, this return should be filed with any Authorized Bank within the district where the business is registered. If there is no Authorized Bank within the territory of payer’s operation, the return must be filed with the Revenue Collection Officer.

What is bir form 2551m?

What is BIR Form 2551m for? This form is used as a standard monthly tax return. Based on this declaration, the monthly amount of the tax is to be paid.

People Also Ask about

What is the tax type of 2551Q?

BIR Form 2551Q, or also known as Quarterly Percentage Tax Return are taxes imposed on individuals/businesses who sell/lease goods or services which are exempted from Value Added Tax (VAT) with annual sales not exceeding 3,000,000 PHP.

What is quarterly percentage tax return?

Quarterly percentage taxes are due on the 25th day of the month following the applicable quarter. This means you have to file them on or before the 25th of April, July, October, and January of the succeeding year, as follows: Period. Deadline. Quarter 1: January to March.

What is tax type code 2551Q?

BIR Form 2551Q, or also known as Quarterly Percentage Tax Return are taxes imposed on individuals/businesses who sell/lease goods or services which are exempted from Value Added Tax (VAT) with annual sales not exceeding 3,000,000 PHP.

What is 1701Q?

BIR Form 1701Q, also known as Quarterly Income Tax Return For Self-Employed Individuals, Estates and Trusts (Including those with both Business and Compensation Income) is a tax return intended for professionals and self-employed individuals who are engaged in a sole proprietorship business.

What is the percentage tax rate for 2551Q?

Tax Rate for 2551Q In general, the percentage tax rate for NonVAT Registered (Person or Entity Exempt from VAT) is 3%.

What is the monthly value added tax declaration?

What is this form? BIR Form 2550M, or also known as Monthly Value-Added Tax Declaration is a form of sales tax which is imposed on sales or exchange of goods and services in the Philippines. Serving as a form of indirect tax, VAT is passed on to the buyer which consumes the product/service.

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What is PH BIR Form 2551M?

PH BIR Form 2551M is a tax form used in the Philippines for the Declaration of Income Tax for Individuals and Corporations who are engaged in trade or business and are subject to the Percentage Tax under the Tax Code.

Who is required to file PH BIR Form 2551M?

The form is required to be filed by individuals and entities engaged in business whose annual gross sales or receipts do not exceed the threshold amount set by the Bureau of Internal Revenue (BIR) and are subject to the Percentage Tax.

How to fill out PH BIR Form 2551M?

To fill out PH BIR Form 2551M, you need to provide your taxpayer identification number (TIN), indicate the tax period, report gross sales or receipts, compute the percentage tax due, and include any prior payments made. Ensure that all figures are properly calculated and that the form is signed.

What is the purpose of PH BIR Form 2551M?

The purpose of PH BIR Form 2551M is to declare and report income generated from business activities as well as to compute and remit the appropriate Percentage Tax due to the Bureau of Internal Revenue (BIR).

What information must be reported on PH BIR Form 2551M?

The information that must be reported on PH BIR Form 2551M includes the taxpayer's TIN, business name, gross sales or receipts, allowable deductions, tax due, and any payments made for the tax period.