Form 2551Q 

Before, it was 2551M, but after the TRAIN law, it’s now 2551Q. Follow me in
filling out this form step by step. But before that, access the form here 2551Q
Jan 2018 ENCS final rev 3_copy. Or you can access them offline, just
download the eBIR offline app from BIR website to easily validate and submit
so long as you have internet connection (based on my experience).

Quarterly Percentage Tax Return Form 2551Q

Above is the snippet of the form. Make sure the release date is January 2018
because that’s the latest. Filing old forms will not be accepted, so be aware.

Okay, let’s start…

1. Calendar vs Fiscal?
 How
to file Percentage Tax- Bir form 2551Q- Calendar Year vs Fiscal?
On the first part, it’s asking you about what “tax year” you’re filing for. Tax
year is the annual accounting period for keeping records and reporting
income and expenses.

The difference between Calendar Year and Fiscal Year is that the Calendar

Year begins from January 1 through December 31. A Fiscal Year is any
consecutive 12- month period that ends on the final day of any month except
December. It is normally 52 to 53 weeks long.

The answer depends on the tax year your business is using. Let’s choose
Calendar.

2. Year Ending
How to file Percentage Tax- Bir form 2551Q- Filling out the Year Ended field
Since we chose Calendar on number 1, let’s put in 12-2019 on number 2.
That’s because Calendar year ends in December and we’re filing it this year
which is 2019.

If you chose Fiscal, however, don’t use 12-2019.

3. Quarters

As I’ve mentioned, it was 2551M just because it’s being filed every month.
After the TRAIN law, we now file quarterly, thus 2551Q.
How to file Percentage Tax- Bir form 2551Q- 1st to 4th Quarter explained
Take note of the dates when you need to file to avoid penalty:

Q1 begins from January to March- April 25

Q2 from April to June- July 25

Q3 from July to September- October 25

Q4 from October to December- January 25

Since it’s July, let’s choose 2nd Quarter.

4. Amended Return?

“An amended return is a return filed to make corrections to a tax return from a

previous year. It can be used to correct errors and claim a more advantageous tax
filing. For example, one might choose to file an amended return in instances of
misreported earnings or tax credits.”—- Investopedia.com

If you’re not filing for corrections, choose “No”.

5. No. of Attached Sheets

Put in 00.
Part I – Background Information

On 6-11, just put in your information, make sure you write them in CAPITAL
LETTERS using black ink.

12. Tax Relief on Special Laws or International Tax Treaty

“Taxpayers enjoying preferential tax treatment under

special laws such as but not limited to enterprises registered in
accordance with RA 7227, RA 7916 or E.O. 226.”—- Lawphil.net

“The Philippines has existing tax treaties with various countries including the United

States, UK, Canada and Singapore which provide for tax relief on income derived by
foreign or local residents of the Philippines and the foreign country from sources
within their respective territories.”— Sas-ph.com

Meaning to say, you can file for tax exemptions if you fall under those Special
Laws mentioned on the reference. If not, then choose “No”

13. Tax Code

How to file Percentage Tax- Bir form 2551Q- Tax codes

This part determines what percentage will be taxed on you based on your
gross income. If you choose “Graduated Income Tax Rate on Net Income”,
that means you’ll be taxed according to the Tax Schedule located at the
second page of this form. If you choose “8% Income Tax Rate on gross
sales/receipts/others”, you’ll be taxed plain 8%, nothing more, nothing less.
Let’s pick Graduated Income Tax Rate.

Let’s leave the Part II – Total Tax Payable for now. Let’s jump to the second
page of the form.

This is the snippet of the second page. Make sure you write your TIN and your
name legibly using black ink and in CAPITAL LETTERS.
How to file Percentage Tax- Bir form 2551Q- Second page
Schedule 1 – Computation of Tax

How to file Percentage Tax- Bir form 2551Q- Filling out Schedule 1-Computation of Tax
If you chose earlier on number 13, “Graduated Income Tax Rate on Net
Income”, this is where you need to go next. There is an alphanumeric tax
code or ATC that suits you. If you chose 8%,  you don’t need ATC, just put in
the taxable amount, the tax rate and compute the tax due.

Below is the list of ATC applicable to you.

How to file Percentage Tax- Bir form 2551Q- Alphanumeric Tax Codes or ATC
In my case, I have Percentage Tax because I’m exempted from VAT meaning
to say I’m a NON-VAT taxpayer. So my ATC will always be PT 010 Persons
exempt from VAT under Sec. 109(BB) (Sec. 116) which is 3%.

Other taxpayers pay more than one ATC depending on what business they’re
engaged in. In other words, they pay 3%, then another 4%, then another 5%
and the list goes on.

Let’s just choose PT 010 for example. Under taxable amount, put in you gross
income/receipts for 3 months. Let’s say on April, I had a sales of Php 15, 000.
Then on May, Php 20, 000, and on June Php 17, 000. Add them up. We’ll get
Php 52, 000.
How to file Percentage Tax- Bir form 2551Q- Filling out Schedule 1-Computation of Tax
Under Tax Rate, write 3%, then multipy 52 000 by 3%, you’ll have 1560. So
under Tax Due, put 1560.00 just like the example above but in black ink not
red.

Part II – Total Tax Payable

Now we have the Tax Due amount, let’s go back to page 1 and look for Part II
– Total Tax Payable.
How to file Percentage Tax- Bir form 2551Q- Part II- Total Tax Payable
On 14, 19 and 24 write 1560.00. On 15, if you have Creditable Tax Withheld
you can include it. Same as 16  and 17. They will diminish your tax due. And
then don’t forget to sign it using black ink.

Once done, you can bring this form to your RDO. Or if you’re using eBIR
forms offline, just click on “Validate” button, then “Submit” after that, you can
print the forms in 4 copies, then you can pay them at the nearest Authorized
Agent Bank (AAB) in your area.

For the list of AABs refer to BIR List of AABs.