Value-Added Tax

&
3% Percentage Tax on VAT-
Exempt Persons

Atty. Voltaire Salud

VALUE-ADDED TAX

VAT is a tax on consumption levied on the sale, barter,

exchange or lease of goods or properties and services in the
Philippines and on importation of goods into the Philippines.

Nature of VAT
1. Privilege tax
2. Indirect tax
3. Ad valorem
Characteristics of VAT
1. It is a percentage tax. It is a tax expressed as a percentage of
the selling price.

2. It is tax on value added to the goods or gross profit, thereby

eliminating the cascading effect of previous sales tax system.

3. It uses tax credit method. Input tax is treated as tax credit

against output tax, so only the difference is being paid.

4. It follows destination principle or cross border doctrine.

Destination Principle
u Goods or services are taxed only in the country where
these are consumed.

Cross Border Doctrine

u No VAT shall be imposed to form part of the cost of goods
destined for consumption outside the territorial border of
the taxing authority.
Meaning of Phrase “In the Course of trade or
business”

u the regular conduct or pursuit of a commercial or

economic activity, including transactions incidental
thereto, by any person, regardless of whether or not the
person engaged therein is a non-stock, non-profit private
organization (irrespective of the disposition of its net
income and whether or not it sells exclusively to
members or their guests) or government entity.
Persons Liable
u Any person (refers to any individual, trust, estate,
partnership, corporation, joint venture, cooperative
or association) who, in the course of his trade or
business, sells, barters, exchanges or leases goods,
properties or services shall be liable to VAT.

1. Seller of Goods or Services

2. Importer of Goods
VAT Rate

u 0% – Zero-rated transactions
u 12% – Regular transactions

VAT Tax Base

1. Sale of Goods
u Gross Selling Price (Paid and Unpaid)
u The total amount or its equivalent which the purchaser
pays or is obligated to pay to seller in consideration of
the sale, barter or exchange of the goods or properties,
excluding VAT but including excise tax, if any.
u Deductions from Gross Selling Price
a. Sales Discounts
Conditions
u Determined and granted at the time of sale
u Expressly indicated in the invoice
u Amount formed part of the gross sales duly recorded in the
books of accounts
u Not dependent upon the happening of a future event

b. Sales Returns and Allowances

 Sample Only
XYZ CORPORATION
U305/3F Visayas Avenue, Quezon City
VAT Reg. TIN: 245-406-465-0000

SALES INVOICE
Sold to: _________________________________ Date: ______________
TIN: _________________________________ Terms: ______________
Address: _________________________________ OSCA/PWD ID No.: ______________
_________________________________ SC/PWD Signature: ______________
Business Style: _________________________________

QUANTITY UNIT ARTICLES UNIT PRICE AMOUNT

Total Sales (VAT Inclusive)

Less: VAT
VATable Sales Amount: Net of VAT
VAT-Exempt Sales Less: SC/PWD Discount
Zero Rated Sales Amount Due
VAT Amount Add: VAT

TOTAL AMOUNT DUE

10 Bklts (3x) 1001-1500
BIR Authority to Print No. 3AU000805222
Date Issued : 07-30-13: Valid until 07-29-2018 _______________________________
JDC PRINTING SERVICES, INC. Cashier/Authorized Representative
Bgy. 123, Quezon City Printer’s Accreditation No. P08051200
Date Issued: 08-01-12
TIN: 123-456-789-0000
THIS INVOICE SHALL BE VALID FOR FIVE (5) YEARS FROM THE DATE OF ATP.
No. 1001
2. Sale of Real Property by Real Estate Dealer
Real estate dealer
u Person engaged in the business of buying, developing, selling,
exchanging real properties as principal and holding himself out as
a full or part-time dealer in real estate.

Tax Base
u The consideration stated in the sales document or the fair market
value (FMV), whichever is higher. The fair market value is
whichever is the higher of the:
a. FMV as determined by BIR (Zonal Value), or

b. FMV as determined by the Assessor or per Tax Declaration

Rules
1. If VAT is not billed separately in the document of sale, the
selling price or consideration is deemed inclusive of VAT.

2. If gross selling price is based on zonal value or market value,

the zonal value or market value is deemed exclusive of VAT.

3. If gross selling price is based on zonal value or market value,

the VAT is to be billed separately in the document of sale.
Problem
ABC Realty Corporation sold a residential condo unit
for P5,000,000 (VAT-exclusive). At the time of sale,
the zonal value was P7,000,000 while the fair market
value based on the tax declaration was P4,500,000.

a. How much is the VAT on sale?

b. How much is the amount to be paid by the buyer?

a. How much is the VAT on sale?
VAT Base: P7,000,000 (Highest)
x VAT Rate: 12%
VAT : P840,000

a. How much is the amount to be paid by the buyer?

Amt. payable = Consideration + VAT

= P5,000,000 + P840,000

= P5,840,000
3. Sale of Services, including Lease of Properties
Gross Receipts (Actual or Constructive)

u Total amount of money or its equivalent representing the

contract price, compensation, service fee, rental or royalty,
including the amount charged for materials supplied with the
services and deposits applied as payments for services rendered
and advance payments actually or constructively received during
the taxable period for services performed or to be performed for
another person.
Constructive Receipt
u The money or consideration or its equivalent is placed at the
control of the person who rendered the service without
restrictions by the payor.

Examples
a. Deposits in banks made available to the seller of services
without restrictions
b. Issuance by debtor of a notice to offset any debt or obligation
and acceptance thereof by the seller as payment for services
rendered
c. Transfer of amounts retained by the payor to the account of
the contractor
Sample Only
In settlement of the following:
ABC CORPORATION
76 Dilman, Quezon City
Billing Invoice No. Amount
VAT Reg. TIN: 144-424-024-0000
Total Sales (VAT Inclusive)
Less: VAT OFFICIAL RECEIPT
Total
DATE ____________
Less: SC/PWD Discount
Total Due Received from ____________________with TIN_______
Less: Withholding Tax
and address at ______________________engaged in the
Amount Due
business style of ________________________, the sum of
___________________________________________pesos
VA T able Sales
(P ____) In partial/full payment for ___________________.
VAT-Exempt Sales
Zero Rated Sales Sr. Citizen TIN
By: __________________
Cashier/ Authorized Representative
VAT Amount
Total Sales
OSCA/PWD ID No. Signature
Form of Payment:
Cash Check
No. 1001
10 Bklts (3x) 1001-1500
BIR Authority to Print No. 3AU000805222
Date Issued 07-30-13 : Valid until 07-29-2018
BERTHA PRINTING SERVICES, INC. Printer’s Accreditation No. P08051200
Date Issued 08-01-12
Bgy. 789, Quezon CIty
TIN: 123-456-789-0000
THIS OFFICIAL RECEIPT SHALL BE VALID FOR FIVE (5) YEARS FROM THE DATE OF ATP.
4. Importation of Goods, whether for Personal or Business Use
a. Total value used by the Bureau of Customs (BOC) in
determining the tariff and customs duties (dutiable value),
plus customs duties, excise tax, if any, and other charges prior
to the release of the goods from customs custody, or

b. In case the valuation used by the BOC is based on volume or

quantity of the imported goods, the landed cost is the basis
for computing VAT. Landed costs consist of the invoice
amount, customs duties, freight, insurance and other charges,
including excise tax, if any, prior to the release of the goods
from customs custody.
Transactions Covered

1. Actual Transactions (Sale, Barter or Exchange)

2. Transaction Deemed Sale

a. Transfer, use or consumption not in the course of

business of goods or properties originally intended for

sale or for use in the course of business

e.g. Personal consumption or donation of goods for sale

b. Distribution or transfer to shareholders or investors as

share in the profits or to creditors in payment of debt

or obligation

e.g. Goods distributed to stockholders as dividends

c. Consignment of goods if actual sale is not made within 60

days following the date such goods were consigned.

d. Retirement from or cessation of business with respect to

all goods on hand, whether capital goods, stock-in-trade,

supplies or materials as of date of such retirement or

cessation, whether or not the business is continued by the

new owner or successor.

Example

i. Change of business ownership from sole proprietorship to

corporation or partnership

ii. Dissolution of partnership and creation of a new

partnership
Power of Commissioner to Determine VAT Tax Base

u Where a transaction is deemed a sale, barter or exchange of

goods
u Where the gross selling price is unreasonably lower than the

actual market value, which is lower by more than 30% of the

actual market value of the same goods of the same quantity and
quality sold in the immediate locality on or nearest the date of

sale.
Tax Base

a. Transfers not in course of business, Distribution to shareholders

or creditors or unsold consigned goods – market value as of the

time of occurrence of the transaction

b. Retirement or Cessation of Business – acquisition cost or current

market value, whichever is lower

c. Sale where the gross selling price is unreasonably lower than

fair market value – actual market value
 BUSINESS TRANSACTION

SUBJECT TO VAT EXEMPT FROM VAT

0%
12% EXEMPT FROM SUBJECT TO
OTHER OTHER
ZER0-RATED
REGULAR VAT PERCENTAGE PERCENTAGE
TRANSACTION
TRANSACTION TAXES TAXES
Zero-Rated Sale/Transaction

It is a taxable transaction for VAT purposes, but shall not

result in any output tax. However, the input tax on purchases
shall be available as a tax credit or refund.

VAT-Exempt Sale/Transaction

It is a transaction that is not subject to VAT (output tax)

and the seller is not allowed any tax credit of VAT (input tax)
on purchases.
Zero-Rated Sales of Goods
1. Export Sales (applying Destination Principle)
2. Sales of Goods to Persons or Entities Deemed Tax-exempt
under Special Law or International Agreement

Zero-Rated Sales of Services

1. Processing, manufacturing or repacking of goods for other
persons doing business outside the Philippines, which goods
are subsequently exported
2. Services other than those enumerated in no. 1 rendered to a
person engaged in business conducted outside the Philippines
or a non-resident person not engaged in business who is
outside the Philippines when services are performed
Zero-Rated Sales of Services
3. Services rendered to Persons or Entities Deemed Tax-exempt
under Special Law or International Agreement
4. Transport of passengers and cargo by domestic air or sea
carriers from the Philippines to a foreign country
e.g. Transport of passengers by Philippine Airlines from Manila
to Hongkong
VAT- Exempt Sale or Lease
1. Sale of goods or services by a Non-VAT seller whose sales or
receipts do not exceed P3,000,000
2. Sale or importation of agricultural or marine food products in
the original state
3. Services rendered by educational institutions
4. Services rendered by employees
5. Services rendered by hospitals except those rendered by
professionals
6. Sale of real properties not primarily held for sale to customers
or held for lease in the ordinary course of trade or business
(capital assets)
7. Sale of real properties by real estate dealer to be utilized for
socialized housing
8. Sale of real properties by real estate dealer to be utilized for
low cost housing (taxable beginning 2021)
9. Sale of residential lot by real estate dealer not exceeding
P1,919,500.00 (taxable beginning 2021)
10. Sale of residential house and lot and other dwellings by real
estate dealer not exceeding P3,199,200.00 (VAT-exempt up to
P2,000,000 effective 2021)
11. Lease of real properties whose lessor’s annual gross receipts do
not exceed P3,000,000.00.
12. Lease of residential unit whose monthly rent does not exceed
P15,000.00.
13. Transport of passengers by international carriers. E.g.
Transport of passengers by Cathay Pacific from Manila to
Hong Kong
14. Export sales by non-VAT taxpayers.
15. Sale or lease of certain goods and services to senior citizen
and persons with disabilities. This is subject to senior
citizen discount of generally 20%.
Amount Payable = Invoice Price less VAT less Discount.
e.g. Invoice Price P11,200
Less: 12% VAT (1,200) P11,200/1.12 x 12%)
Net of VAT 10,000
Less: 20% SC Discount (2,000) (P10,000 x 20%)
Amt. Payable. P8,000

16. Services rendered subject to other percentage taxes like

common carrier’s tax, gross receipts tax, premium tax,
amusement tax and franchise tax.

(Note: The above transactions are likewise exempted from

percentage tax with the exception of nos. 1,11, & 16)
VAT Treatment of Sale of Real Properties

OLD Law and TRAIN Law TRAIN Law

Revenue Issuances Effective January 1, Effective January 1,
2018 2021

Real Property classified as

Capital Asset VAT-Exempt VAT-Exempt VAT-Exempt

Real Property utilized for

Socialized Housing VAT-Exempt VAT-Exempt VAT-Exempt

Real Property
utilized for Low-Cost VAT-Exempt VAT-Exempt Taxable
Housing
 OLD Law and TRAIN Law TRAIN Law
Revenue Effective January Effective January
Issuances 1, 2018 1, 2021

Residential Lot VAT-Exempt, up to VAT-Exempt, up to Taxable

P1,919,500 P1,919,500 per
Revenue
Regulations)
House and Lot and VAT-Exempt, up to VAT-Exempt, up to VAT-Exempt up to
Other Residential P3,199,200 P3,199,200 per P2,000,000
Dwellings Revenue
Regulations)
VAT Payable = Output tax less Input tax
(following Tax Credit Method)

Output Tax (VAT on Sales)

The value-added tax due on the sale or lease of taxable
goods or properties or services by any person registered
or required to register under this code.

The amount of VAT collected by the taxpayer as a

seller/provider from buyers/consumers which is to be
remitted to the BIR by the taxpayer.
Input Tax (VAT on Purchases)
The value-added tax due from or paid by a VAT-
registered person in the course of his trade or business
from a VAT-registered person.

The amount of VAT shouldered or already paid by the

taxpayer as a buyer/consumer and collected by the
seller/provider.
Determination of Output Tax/Input Tax
1. Sale of goods or properties
u Gross selling price x 12% or
u Invoice price (VAT-inclusive) x 12/112
2. Sale of services
u Gross receipts x 12% or
u Total amount received (VAT-inclusive) x 12/112
3. If VAT is billed erroneously
u The total invoice amount = gross selling price plus
correct amount of VAT
Per Invoice Correct Breakdown

u E.g. Selling Price. P100,000 P 98,214.29

VAT 10,000 11,785.71 (Correct VAT)
Total P110,000 P110,000
Sources of Input Tax
Purchases from VAT taxpayer or Importation of the following:
1. Goods for
a. Sale
b. Conversion into or intended to form part of a finished
product
c. Use as supplies in the course of business
d. Use as raw materials supplied in the sale of services
e. For use in trade or business for which deduction for
depreciation or amortization is allowed under the Tax
Code
2. Real properties
3. Services
A VAT taxpayer, a seller of taxable goods, had the
following data during the quarter:

Sales to VAT taxpayers P 500,000.00

Sales to Non-VAT taxpayers 300,000.00
Cost of Sales 400,000.00
Purchases from VAT taxpayers 250,000.00
Purchases from Non-VAT taxpayers 150,000.00

How much is the VAT payable for the quarter?

Output Tax
Sales to VAT taxpayers P500,000.00
Sales to Non-VAT taxpayers 300,000.00 P800,000 P96,000

Less Input Tax

Purchases from VAT taxpayers 250,000 30,000

VAT Payable P66,000

Input Tax on Depreciable (Capital) Goods

Capital Goods or Properties

those with estimated useful life greater than 1 year which
are treated as depreciable assets, used directly or
indirectly in the production or sale of taxable goods or
services.

u The aggregate acquisition cost of a depreciable asset in

any calendar month refers to the total price agreed
(excluding the VAT) upon for one or more assets acquired
and not on the payments actually made during the
calendar month.
Rules on Amortization of Input Tax on Depreciable (Capital)
Goods

1. Where the aggregate acquisition cost in a calendar

month exceeds P1,000,000.00, regardless of the
acquisition cost of each capital good, shall be
claimed as credit against output tax in the
following manner:
Rules on Amortization of Input Tax on Depreciable (Capital)
Goods
a. If the estimated useful life of a capital good is 5 years or
more – The input tax will be spread evenly over a period of
60 months and the claim for input tax credit will
commence in the calendar month when the capital good is
acquired.

b. If the estimated useful life of a capital good is less than 5

years – The input tax will be spread evenly on a monthly
basis by dividing the input tax by the estimated useful life
of the capital good. The claim for input tax credit will
commence in the calendar month that the capital goods
were acquired.
Rules on Amortization of Input Tax on Depreciable (Capital)
Goods

2. Where the aggregate acquisition cost (exclusive of VAT)

of the existing or finished depreciable capital goods
purchased or imported during any calendar month does not
exceed P1,000,000.00, the total input taxes will be
allowable as credit against output tax in the month of
acquisition.
The VAT taxpayer acquired the following capital
goods/properties:

Acquisition Cost Estimated

(VAT-Exclusive) Useful Life
JULY

Store Equipment 1 P400,000 4 years

Store Equipment 2 P700,000 6 years

AUGUST

Store Equipment 3 P800,000 8 years

SEPTEMBER

Delivery Equipment P1,500,000 6 years

 Monthly
Acquisition Input Estimated Amortization Input Tax
Cost (VAT- Tax Useful of Claimed
Exclusive) Life Input Tax in Full

JULY

SE 1 P400,000 P48,000 4 years P1,000

for 48 months
SE 2 P700,000 P84,000 6 years P1,400
for 60 months
AUGUST

SE 3 P800,000 P96,000 8 years P96,000

SEPTEMBER

DE P1,500,000 P180,000 6 years P3,000

for 60 months
Transitional Input Tax Credits
u Taxpayers who became VAT-registered persons upon
exceeding the VAT threshold of P3,000,000.00 in any 12-
month period, or who voluntarily register even if their
turnover does not exceed P3,000,000.00 (except
franchise grantees of radio and television broadcasting
whose threshold is P10,000,000.00) are entitled to a
transitional input tax on the inventory on hand as of the
effectivity of their VAT registration, on the following:

u Goods purchased for resale in their present condition

u Materials purchased for further processing, but which have
not yet undergone processing
u Goods which have been manufactured by the taxpayer
u Goods in process for sale
Transitional Input Tax Credits

u Goods and supplies for use in the course of the taxpayer’s

trade or business as a VAT-registered person.

u The transitional input tax is 2% of the value of the

beginning inventory on hand or actual VAT paid on such,
goods, materials and supplies, whichever is higher,
which amount will be creditable against the output tax
of VAT-registered person.
Presumptive Input Tax Credits
u Persons or firms engaged in the processing of sardines,
mackerel, and milk, and in manufacturing refined sugar, cooking
oil and packed noodle-based instant meals, are allowed a
presumptive input tax, creditable against the output tax,
equivalent to 4% of the gross value in money of their purchases
of primary agricultural products which are used as inputs to
their production.

u “Processing” means pasteurization, canning and activities which

through physical or chemical process alter the exterior texture
or form or inner substance of a product in such manner as to
prepare it for special use to which it could not have been put in
its original form or condition.
Rules on VAT Payable (Excess Output) or Excess Input Tax.
1. If at the end of any taxable quarter the output tax
exceeds the input tax, the excess must be paid by the
VAT-registered person.
2. If the input tax inclusive of input tax carried over from
the previous quarter exceeds the output tax, the excess
input tax shall be carried over to the succeeding taxable
period.
3. The input tax attributable to zero-rated sales by a VAT-
registered person may at his option be (a) refunded or (b)
applied for a tax credit certificate which may be used in
the payment of internal revenue taxes, except
withholding taxes.
Registration of VAT and Non-VAT Taxpayers

u Any person, who in the course of trade or business,

sells, barters, exchanges goods or properties, or
engages in the sale of services subject to VAT must
register with the BIR and pay an annual
registration fee in the amount of P500.00 for every
separate or distinct establishment or place of
business (save a warehouse without sale
transactions) before the start of such business and
every year thereafter on or before the 31st day of
January.
Mandatory VAT Registration
Persons who, in the course of trade or business, sells,
barters or exchanges goods or properties or engages in the
sale or exchange of services must register as a VAT taxpayer
if:
1. The gross sales or receipts for the past 12 months, other
than VAT-exempt transactions, have exceeded
P3,000,000.
2. There are reasonable grounds to believe that the gross
sales or receipts for the next 12 months, other than VAT-
exempt transactions, will exceed P3,000,000.
3. For franchise grantees of radio and television
broadcasting, whose gross annual receipts for the
preceding year exceeded P10,000,000.
Optional VAT Registration
u Any person who is not required to register for VAT may elect
to be VAT-registered and pay the annual registration fee of
P500 for every separate and distinct establishment. It is
irrevocable for the next 3 years.
u Any person who is VAT-registered but enters into
transactions which are exempt from VAT (mixed
transactions) may opt that the VAT apply to his transactions
which would have been exempt. It is irrevocable for the
next 3 years.
u Franchise grantees of radio and/or television broadcasting
whose annual gross receipts of the preceding year do not
exceed P10,000,000 derived from business covered by the
law granting the franchise may opt for VAT registration. This
option, once exercised, is irrevocable.
3% PERCENTAGE TAX on VAT-EXEMPT PERSONS

It is a tax measured by a certain percentage of the gross selling

price or gross value in money of goods sold or gross receipts or
earnings in case of services derived by any person who is
exempted from VAT because:
a. his annual gross sales or receipts do not exceed
P3 million and
b. he does not avail of 8% income tax rate.

Tax Rate 3%

Documents to be Issued:
NON-VAT Sales Invoice for Goods
NON-VAT Official Receipt for Services
 SARISARI ENTERPRISES
Sample Only U115 G/F SM North Edsa, Quezon City
NON-VAT Reg. TIN: 245-406-465-0000

SALES INVOICE
Sold to: _______________________________ Date: ______________
TIN: _______________________________ Terms: ______________
Address: _______________________________ OSCA/PWD ID No.: ______________
_______________________________ SC/PWD Signature: ______________
Business Style: _______________________________

QUANTITY UNIT ARTICLES UNIT PRICE AMOUNT

SSPT Total Sales

Exempt Sales Less: SC/PWD-Discount

TOTAL AMOUNT DUE

10 Bklts (3x) 1001-1500

_______________________________
BIR Authority to Print No. 3AU000805222
Date Issued : 07-30-13: Valid until 07-29-2018 Cashier/Authorized Representative
JDC PRINTING SERVICES, INC. Printer’s Accreditation No. P08051200
Bgy. 123, Quezon City Date Issued: 08-01-12
TIN: 123-456-789-0000
“THIS DOCUMENT IS NOT VALID FOR CLAIMING INPUT TAXES”
No. 1001
THIS INVOICE SHALL BE VALID FOR FIVE (5) YEARS FROM THE DATE OF ATP.
Sample Only LARRY B. VELO., M.D.
Rm. 205 St. Luke’s Hospital, E. Rodriguez Sr.,Q.C.
NON-VAT Reg. TIN: 144-424-024-0000

OFFICIAL RECEIPT
Billing Invoice No. Amount DATE _____________

Received from ____________________with TIN_______

Total Sales and address at ______________________engaged in the
Less: SC/PWD Discount business style of ________________________, the sum of
Total Due ___________________________________________pesos
Less: Withholding Tax (P ____) In partial/full payment for ___________________.
Payment Due
By: __________________
Sr. Citizen TIN Cashier/ Authorized Representative

OSCA/PWD ID No. Signature

Form of Payment:
Cash Check
No. 1001
10 Bklts (3x) 1001-1500
BIR Authority to Print No. 3AU000805222
Date Issued 07-30-13: Valid until 07-29-2018 Printer’s Accreditation No. P08051200
BERTHA PRINTING SERVICES, INC. Date Issued 08-01-12
Bgy. 789, Quezon City
TIN: 123-456-789-0000 “THIS DOCUMENT IS NOT VALID FOR CLAIMING INPUT TAXES”
THIS OFFICIAL RECEIPT SHALL BE VALID FOR FIVE (5) YEARS FROM THE DATE OF ATP.
Which is better VAT REGISTRATION OR NON-VAT
REGISTRATION?

VAT REGISTRATION
1. If the buyer of goods or services absorbs the VAT.
2. If almost all of the suppliers are VAT taxpayers.

NON-VAT REGISTRATION
1. If the seller will shoulder the tax.
2. If almost all of the suppliers are non-VAT taxpayers.
3. If the taxpayer does want to submit the Summary List
of Sales and Purchases every quarter.
BIR Reportorial Requirements (Tax
Returns & Deadlines)
VAT

uBIR FORM 2550M – Monthly Value Added Tax Declaration

On or before 20th day following the close of the taxable
month

uBIR FORM 2550Q – Quarterly Value Added Tax Declaration

On or before the 25th day following the close of the
taxable quarter
 January February March

Sales P1,800,000 P2,000,000 P1,900,000

Purchases P1,500,000 P1,700,000 P1,400,000

of Goods
January February Quarter
(MVAT) (MVAT) (QVAT)
Output Tax P216,000 P240,000 P684,000

Input Tax P180,000 P204,000 P552,000

Net VAT
payable P36,000 P36,000 P132,000
Less: Payments
P0 P0 P72,000
VAT still
payable P36,000 P36,000 P60,000
BIR Reportorial Requirements (Tax Returns &
Deadlines)

Percentage Tax

uBIR FORM 2551Q – Quarterly Percentage Tax Return

On or before the 25th day following the close of taxable
quarter.
 January February March

Sales P100,000 P200,000 P150,000

Purchases P90,000 P120,000 P110,000

Quarter
January February (QPT)

Percentage Tax P13,500

THANK YOU