TOPIC: BIR Thread

francomigz wrote:

nag backread na ako sa topic na ito... pero hilo pa rin ako sa mga dapat gawin.

nakaka- 1 1/2 years na ang shop ko, last year dahil sa late na kami nakapagparegister (4th quarter na yata yon), nagdeclare nalang kami ng "no income"... iyon din ang nakasulat sa mga libro namin.

we have printed reciepts, kaso wala namn nang hihingi ng resibo, kaya wala rin bawas ang resibo namin.

now this year we have to file an annual income tax return, kakalito, di namin alam kung papano ito irereflect sa mga libro... worse ngayun ko lang nalaman na we have to pay monthly percentage tax at quarterly income tax return... ang alam lang kasi namin eh annual..

nag-aalala lang kami kasi mag-rerenewal na namn ng mga bussiness permit next year and we have to show our tax payments... kaya help namn kung meron kayong kakilalang bookeeper na magaayus ng tax returns namin (magkano pala ang fee non). I am from dasmarinas cavite...

Ganun Annual Income tax return lang binabayaran mo?Paano ka magkakaroon nga Annual Income Tax Return na wala kang monthly percentage tax doon mo base yung kita mo for the whole year.May open cases ka na siguro pero pakiusapan mo na babaan ang penalty mo.Sa business permit naman di kami hinahanapan ng Annual ITR.Dapat mag visit ka na sa BIR for that ok naman kausap yung iba, hanap ka lang ng di arrogante.

guys how do you fill up the form for monthly percentage tax? pwede bang makahingi ng scanned copy? para lang meron akong mapagaralan an actual payment?

i'll try to get this sorted out bago pa maging problema sa operation ng maliit kong shop.

Mga dapat i-file:

Monthly: Percentage Tax 2551M and WithholdingTax/Form 1601C (kung walang employee ilagay lang sa form no employee). Deadline of submission 1601C - 10th of the month 2551M - 20th of the month.

Quarterly: Percentage Tax (kung nagfile ka na monthly wag mo ng gawin ito)

Annual: Registration of Accountng Books every December, Annual Registration every January, ITR every April (hanggang 25th lang yata ito).

Make duplicate copies of your filed forms para kung magka-opencase sa BIR may ipapakita kayong proof na nagfile kayo at iwas penalty. Usually penalty fee is P200 pinakamababa.

Filling up your 2551M Form

Fill up the following:

1. Date - kung ngayong December ang filing dapat previous month ang nakalagaay
2. TIN Number
3. RDO No. (kung saan kayo registered
4. Registered Name/Business Name
5. Type of Business - sa case namin Computer Services/Internet Cafe
6. Registered Address
7. Phone Number
8. Zip Code
9. MOST IMPORTANT - yung taxable na sales nyo - sa amin computer rentals ang nilagay namin
10. PT010 (ito nag ilalagay nyo) nakalimutan ko yung description nito
11. Taxable Amount
12. 3% yung percentage tax (multiply sa taxable sales)
13. The amount to be paid based on sales x 3%

ryudo5 wrote:

Mga dapat i-file:

Monthly: Percentage Tax 2551M and WithholdingTax/Form 1601C (kung walang employee ilagay lang sa form no employee). Deadline of submission 1601C - 10th of the month 2551M - 20th of the month.

Quarterly: Percentage Tax (kung nagfile ka na monthly wag mo ng gawin ito)

Annual: Registration of Accountng Books every December, Annual Registration every January, ITR every April (hanggang 25th lang yata ito).

Make duplicate copies of your filed forms para kung magka-opencase sa BIR may ipapakita kayong proof na nagfile kayo at iwas penalty. Usually penalty fee is P200 pinakamababa.

Filling up your 2551M Form

Fill up the following:

1. Date - kung ngayong December ang filing dapat previous month ang nakalagaay
2. TIN Number
3. RDO No. (kung saan kayo registered
4. Registered Name/Business Name
5. Type of Business - sa case namin Computer Services/Internet Cafe
6. Registered Address
7. Phone Number
8. Zip Code
9. MOST IMPORTANT - yung taxable na sales nyo - sa amin computer rentals ang nilagay namin
10. PT010 (ito nag ilalagay nyo) nakalimutan ko yung description nito
11. Taxable Amount
12. 3% yung percentage tax (multiply sa taxable sales)
13. The amount to be paid based on sales x 3%

@ sir ryudo

ano yung quarterly tax na finafile niyo?

saka ano po yung ITR?

Medyo gumulo na yata ang discussion tungkol sa kung anong forms at payments ang dapat i-file at bayaran sa BIR (actually sa accredited banks). I made a recall and a little research on the subject and here are what an owner should file and pay to BIR in the conduct of his/her lanshop business as a self-employed individual.

I breakdown the information into periods (monthly, quarterly and annual) and deadlines for filing together with the description of the forms to be used as follows:

A. Annual:

1) BIR Form 0605 Payment Form - This form is to be filed and paid during registration of the business and the renewal of its registration. The Registration Fee of P500 is paid upon registration of a new business and its renewal every year. Deadline is January 31 for the renewal but the fee is normally paid during stamping of books of accounts in December of each year.

2) BIR Form 1701 Annual Income Tax Return for Self-Employed, Professionals, Estates, and Trusts - This return is filed annually by the following for business income derived during the calendar year regardless of amount of gross income. Deadline is April 15 of each year and amount of income tax to be paid varies from 5 to 32% of net taxable income less quarterly income tax payments.

B. Quarterly:

1) BIR Form 1701Q Quarterly Income Tax Return for Self-employed, Professionals, Estates, and Trusts Including Those with both Business and Compensation Income - An income tax return filed quarterly by all Self-employed taxpayers, Professionals, Estates and Trusts engaged in trade/ business including those with both business and compensation income. Filing Dates: Quarter/(Months Covered) Due Date 1st (Jan-March) on or before April 15 2nd (April-June) on or before August 15 3rd (July-Sept) on or before November 15. Amount of income tax to be paid varies from 5 to 32% of net taxable income.

2) BIR Form 2307 Certificate of Creditable Tax Withheld at Source - A Certificate to be accomplished and issued to recipients of rental payments subject to expanded withholding tax paid by a lanshop owner showing therein the monthly breakdown of the total income payments made and the total taxes withheld and remitted during the quarter. Filing Date - to be issued to Lessor on or before the 20th day of the month following the close of the taxable quarter. Upon request of the Lessor, however, the lanshop owner must furnish such statement to the Lessor simultaneously with the income payment.

C. Monthly:

1) BIR Form 1601E Monthly Remittance Return of Creditable Income Taxes Withheld (Expanded) - This return is filed by every lanshop owner who rents his place of business, who is either an individual or non-individual, required to deduct and withhold taxes on rental payments subject to Expanded / Creditable Withholding Taxes. Filing Dates: On or before the tenth (10th) day of the month following the month in which withholding was made except for taxes withheld for the month of December which shall be filed on or before January 15 of the succeeding year. Amount of tax to be withheld and paid to BIR is 5% of the rental payment.

2) BIR Form 2551M Monthly Percentage Tax Return - This return shall be filed in triplicate by the lanshop owner whose gross annual sales and/or receipt do not exceed P1,500,000 and who are not VAT-registered persons. Filing Dates: Not later than the 20th day following the end of each month. Percentage tax to be paid is 3% of gross income.

NOTES:

a) The above-described forms, payments and deadlines are for lanshop owners who do not withhold income taxes from their employees. In legal terms, the above are applicable to self-employed lanshop owners who personally do the tending of their shops. BIR Form 1601C, 2306 and 2316 are used by those who withhold monthly income taxes from their employees.

b) For details and other matters about taxes to be paid to BIR, please go to [url]www.bir.gov.ph [/url]

xicowner wrote:

what an owner should file and pay to BIR in the conduct of his/her lanshop business as a self-employed individual.

I breakdown the information into periods (monthly, quarterly and annual) and deadlines for filing together with the description of the forms to be used as follows:

A. Annual:

1) BIR Form 0605 Payment Form - This form is to be filed and paid during registration of the business and the renewal of its registration. The Registration Fee of P500 is paid upon registration of a new business and its renewal every year. Deadline is January 31 for the renewal but the fee is normally paid during stamping of books of accounts in December of each year.

2) BIR Form 1701 Annual Income Tax Return for Self-Employed, Professionals, Estates, and Trusts - This return is filed annually by the following for business income derived during the calendar year regardless of amount of gross income. Deadline is April 15 of each year and amount of income tax to be paid varies from 5 to 32% of net taxable income less quarterly income tax payments.

B. Quarterly:

1) BIR Form 1701Q Quarterly Income Tax Return for Self-employed, Professionals, Estates, and Trusts Including Those with both Business and Compensation Income - An income tax return filed quarterly by all Self-employed taxpayers, Professionals, Estates and Trusts engaged in trade/ business including those with both business and compensation income. Filing Dates: Quarter/(Months Covered) Due Date 1st (Jan-March) on or before April 15 2nd (April-June) on or before August 15 3rd (July-Sept) on or before November 15. Amount of income tax to be paid varies from 5 to 32% of net taxable income.

2) BIR Form 2307 Certificate of Creditable Tax Withheld at Source - A Certificate to be accomplished and issued to recipients of rental payments subject to expanded withholding tax paid by a lanshop owner showing therein the monthly breakdown of the total income payments made and the total taxes withheld and remitted during the quarter. Filing Date - to be issued to Lessor on or before the 20th day of the month following the close of the taxable quarter. Upon request of the Lessor, however, the lanshop owner must furnish such statement to the Lessor simultaneously with the income payment.

C. Monthly:

1) BIR Form 1601E Monthly Remittance Return of Creditable Income Taxes Withheld (Expanded) - This return is filed by every lanshop owner who rents his place of business, who is either an individual or non-individual, required to deduct and withhold taxes on rental payments subject to Expanded / Creditable Withholding Taxes. Filing Dates: On or before the tenth (10th) day of the month following the month in which withholding was made except for taxes withheld for the month of December which shall be filed on or before January 15 of the succeeding year. Amount of tax to be withheld and paid to BIR is 5% of the rental payment.

2) BIR Form 2551M Monthly Percentage Tax Return - This return shall be filed in triplicate by the lanshop owner whose gross annual sales and/or receipt do not exceed P1,500,000 and who are not VAT-registered persons. Filing Dates: Not later than the 20th day following the end of each month. Percentage tax to be paid is 3% of gross income.

NOTES:

a) The above-described forms, payments and deadlines are for lanshop owners who do not withhold income taxes from their employees. In legal terms, the above are applicable to self-employed lanshop owners who personally do the tending of their shops. BIR Form 1601C, 2306 and 2316 are used by those who withhold monthly income taxes from their employees.

b) For details and other matters about taxes to be paid to BIR, please go to [url]www.bir.gov.ph [/url]

"ayan" kompleto na yan...!!!

ang masasabi ko lang aarrraaaayyyyyy...... sakit sa bulsa almost 17k ang binayaran ko cityhall at sa B.I.R.

francomigz wrote:

darn.. ganon ba.. thanks for the reply bro.. 1k ba ang penalty per month pag nagdefault sa monthly sa percentage tax?

opencase ng 2551M 200 pesos ang penalty per opencase, so kung ilan ang open case multiplied by 200, tapos 1601E ganun din

i just paid my 2 opencases, hindi pala kasi nag-file bookeeper ko ng no operation

phazeddl wrote:

ang masasabi ko lang aarrraaaayyyyyy...... sakit sa bulsa almost 17k ang binayaran ko cityhall at sa B.I.R.

Mukhang maliit pa rin yata binayaran mo, kosang phazeddl . . . ^_^

Gawa tayo ng sample computations ng taxes to be paid to BIR using some assumptions ng total investment, operating expenses at gross income.

A. Assumptions:

1) Total Investment of P360,000 to depreciated in 3 years so monthly depreciation = P360,000 divided by 36 months = P10,000.00

2) Total Monthly Operating Expenses = P60,000 (including P10,000 monthly rent, the expanded withholding tax to be shouldered by lanshop owner)

3) Total Monthly Gross Income = P100,000 (This is an assumed average so for a whole year, total gross income will be P1,200,000)

4) Lanshop owner is single and has no salary income so personal exemption is P20,000 only (per old schedule).

B. Amounts To Be Paid To BIR: . . . . . . . . . . . . . . . . . . . Sub-Totals

1) Annual Registration Fee (Form 0605) - - - - - - - - - - - - - - - - - - - - - P 500.00
2) Expanded Withholding Tax (Form 1601E) [P500 x 12] - - - - - - - - - 6,000.00
3) Percentage Tax (Form 2551M) [P3,000 x 12] - - - - - - - - - - - - - - 36,000.00
4) Quarterly Income Tax (Form 1701Q) [P100,000 - (P60,000 +
>> P10,000) = P30,000 x 3 = P90,000 Net Taxable Income, the
>> tax for which is P8,500 + 20% of P20,000 = P12,500 x 3] - - - - 37,500.00
5) Annual Income Tax (Form 1701) [P1,200,000 - (P70,000 x 12)
>> = Taxable Income = P360,000 - P20,000 (personal exemption)
>> = P340,000 in which the Total Income Tax = P50,000 +
>> 30% of P90,000 = P77,000 so Income Tax Due = P77,000
>> - P37,500] - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 39,500.00
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> =======
Therefore, total amount that must be paid to BIR: - - - - - - - - - - - P119,500.00

Sa BIR pa lang iyan (hindi pa kasama yung sa Business Permit ng LGU) . . . ito ay kapag tama lahat ng figures na ipa-file. . . . ^_^ again.

joyblanca wrote:

i just paid my 2 opencases, hindi pala kasi nag-file bookeeper ko ng no operation

Did you pay P200 per open case as you said? What BIR Form did you use to pay? Did you pay in the bank? Clarify ko lang kasi sa seminars ng BIR, P1,000 ang sinasabi nilang penalty although some liaison says P200 will do.