DLN:
PSIC:
BIR Form No.
Monthly Percentage
Tax Return
Republika ng Pilipinas
Kagawaran ng Pananalapi
Kawanihan ng Rentas Internas
2551M
September 2005 (ENCS)
Fill in all applicable spaces. Mark all appropriate boxes with an “X”.
1
2
For the
Calendar
Fiscal
3 For the month
Year ended
(MM/YYYY)
4
Amended Return
(MM/YYYY)
Part I
Yes
Background
5 Number of sheets attached
No
Information
6
TIN
9
Occupation
Taxpayer's Name (For Individual)Last Name, First Name, Middle Name/(For Non-individual) Registered Name
7 RDO Code
8 Line of Business/
10
11 Registered Address
12
13 Are you availing of tax relief under Special Law
or International Tax Treaty?
Yes
Part II
No
Telephone Number
Zip Code
If yes, specify
Computation of Tax
Taxable Transaction/
Industry Classification
ATC
Taxable Amount
Tax Rate
Tax Due
14A
14B
14C
14D
14E
15A
15B
15C
15D
15E
16A
16B
16C
16D
16E
17A
17B
17C
17D
17E
18A
18B
18C
18D
18E
19 Total Tax Due
20
Less: Tax Credits/Payments
19
20A
Creditable Percentage Tax Withheld Per BIR Form No. 2307 (See Schedule 1)
20A
20B
Tax Paid in Return Previously Filed, if this is an Amended Return
20B
Total Tax Credits/Payments (Sum of Items 20A & 20B)
21
22 Tax Payable (Overpayment) (Item 19 less Item 21)
Add: Penalties
Surcharge
23
23A
23B
21
22
Interest
Compromise
23C
23D
24 Total Amount Payable/(Overpayment) (Sum of Items 22 and 23D)
24
If overpayment, mark one box only:
To be Refunded
To be issued a Tax Credit Certificate
I declare, under the penalties of perjury, that this return has been made in good faith, verified by me, and to the best of my knowledge, and belief,
is true and correct, pursuant to the provisions of the National Internal Revenue Code, as amended, and the regulations issued under authority thereof.
25
26
President/Vice President/Principal Officer/Accredited Tax Agent/
Authorized Representative/Taxpayer
(Signature Over Printed Name)
Title/Position of Signatory
TIN of Signatory
Tax Agent Acc. No./Atty's Roll No.(if applicable)
Part III
Particulars
Treasurer/Assistant Treasurer
(Signature Over Printed Name)
Date of Issuance
Title/Position of Signatory
Date of Expiry
TIN of Signatory
Details of Payment
Drawee Bank/
Agency
Number
MM
Date
DD
YYYY
Amount
27B
27C
27D
28 Check 28A
28B
28C
28D
29 Tax Debit
29A
29B
29C
30B
30C
30D
27 Cash/Bank 27A
Debit Memo
Memo
30 Others 30A
Machine Validation/Revenue Official Receipt Details (If not filed with an Authorized Agent Bank)
Stamp of
Receiving Office/AAB
and Date of Receipt
(RO's Signature/
Bank Teller's Initial)
BIR FORM 2551M (ENCS)-PAGE 2
Tax Withheld Claimed as Tax Credit
Schedule 1
Period Covered
Name of Withholding Agent
Income Payments
Tax Withheld
Applied
Total (To Item 20A)
ATC
PT 010
Percentage Tax On:
ALPHANUMERIC TAX CODE (ATC)
Tax Rate
ATC
Persons exempt from VAT under Sec. 109v (Sec. 116)
PT 040
Domestic carriers and keepers of garages
PT 041
International Carriers
PT 060
Franchises on gas and water utilities
PT 070
Franchises on radio/TV broadcasting companies whose
annual gross receipts do not exceed P 10 M
Tax on banks and non-bank financial intermediaries performing quasi
banking functions
1) On interest, commissions and discounts from lending
activities as well as income from financial leasing, on
the basis of remaining maturities of instruments from
which such receipts are derived
PT 105
Maturity period is five (5) years or less
PT 101
Maturity period is more than five (5) years
PT 102
2) On dividends and equity shares and net income of
subsidiaries
3%
3%
3%
2%
PT 103 3)
PT 104 4)
Percentage Tax On:
Tax Rate
On royalties, rentals of property, real or personal, profits
from exchange and all other gross income
On net trading gains within the taxable year on foreign currency,
debt securities, derivatives, and other financial instruments
7%
7%
Tax on Other Non-Bank Financial Intermediaries not performing quasi-banking functions
3%
5%
1%
0%
1)
On interest, commissions and discounts from lending activities
as well as income from financial leasing, on the basis of remaining
maturities of instruments from which such receipts are derived
PT 113
Maturity period is five (5) years or less
PT 114
Maturity period is more than five (5) years
PT 115 2) From all other items treated as gross income under the code
PT 120 Life Insurance premium
Agents of Foreign Insurance Companies
PT 130
a) Insurance Agents
PT 132
b) Owners of property obtaining insurance directly
with foreign insurance companies
BIR Form No. 2551M Percentage Tax Return
Guidelines and Instructions
5%
1%
5%
5%
10%
5%
Who Shall File
1.
2.
3.
4.
5.
6.
7.
8.
This return shall be filed in triplicate by the following:
Persons whose gross annual sales and/or receipts do not exceed P1,500,000
and who are not VAT-registered persons.
Domestic carriers and keepers of garages, except owners of bancas and
owners of animal-drawn two wheeled vehicle.
Operators of international air and shipping carriers doing business in the
Philippines.
Franchise grantees of gas or water utilities.
Franchise
grantees of radio
and/or
television
broadcasting
companies whose gross annual receipts of the preceding year do not exceed
Ten Million Pesos (P10,000,000.00) and did not opt to register as VAT
taxpayers.
Banks, non-bank financial intermediaries and finance companies.
Life insurance companies.
Agents of foreign insurance companies.
"Gross receipts" means all amounts received by the prime or principal
contractor, undiminished by any amount paid to any subcontractor under a
subcontract arrangement.
Penalties
1.
2.
When and Where to File
The return shall be filed not later than the 20th day following the end of each
month. Any person retiring from a business subject to percentage taxes shall
notify the nearest Revenue District Office, file his return and pay the tax due
thereon within twenty (20) days after closing his business.
The return shall be filed with any Authorized Agent Bank (AAB) within the
territorial jurisdiction of the Revenue District Office where the taxpayer is
required to register/conducting business. In places where there are no AABs, the
return shall be filed with the Revenue Collection Officer or duly Authorized City
or Municipal Treasurer within the Revenue District Office where the taxpayer is
required to register/conducting business.
A taxpayer may, at his option, file a separate return for the head office and
for each branch or place of business or a consolidated return for the head office
and all the branches except in the case of large taxpayers where only one
consolidated return is required.
3.
4.
There shall be imposed and collected as part of the tax:
A surcharge of twenty five percent (25%) for each of the following
violations:
a.
Failure to file any return and pay the amount of tax or installment due
on or before the due date;
b.
Unless otherwise authorized by the Commissioner, filing a return with
a person or office other than those with whom it is required to be filed;
c.
Failure to pay the full or part of the amount of tax shown on the return,
or the full amount of tax due for which no return is required to be filed
on or before the due date;
d.
Failure to pay the deficiency tax within the time prescribed for its
payment in the notice of assessment.
A surcharge of fifty percent (50%) of the tax or of the deficiency tax, in case
any payment has been made on the basis of such return before the discovery
of the falsity or fraud, for each of the following violations:
a.
Willful neglect to file the return within the period prescribed by the
Code or by rules and regulations; or
b.
In case a false or fraudulent return is willfully made.
Interest at the rate of twenty percent (20%) per annum, or such higher rate as
may be prescribed by rules and regulations, on any unpaid amount of tax
from the date prescribed for the payment until the amount is fully paid.
Compromise penalty.
Attachments Required
1.
2.
3.
4.
Certificate of Creditable Tax Withheld at Source, if applicable;
Duly approved Tax Debit Memo, if applicable;
For amended return, proof of the payment and the return previously filed;
All returns filed by an authorized representative must attach authorization
letter.
When and Where to Pay
Upon filing this return, the total amount payable shall be paid to the
Authorized Agent Bank (AAB) where the return is filed. In places where there
are no AABs, payment shall be made directly to the Revenue Collection Officer or
duly Authorized City or Municipal Treasurer who shall issue a Revenue Official
Receipt BIR Form No. 2524) therefor.
Where the return is filed with an AAB, taxpayer must accomplish and submit
BIR-prescribed deposit slip, which the bank teller shall machine validate as
evidence that payment was received by the AAB. The AAB receiving the tax
return shall stamp mark the word “Received” on the return and also machine
validate the return as proof of filing the return and payment of the tax by the
taxpayer, respectively. The machine validation shall reflect the date of payment,
amount paid and transactions code, the name of the bank, branch code, teller’s
code and teller’s initial. Bank debit memo number and date should be indicated in
the return for taxpayers paying under the bank debit system.
For Electronic Filing and Payment System (EFPS) Taxpayer
The deadline for electronically filing and paying the taxes due thereon shall
be in accordance with the provisions of existing applicable revenue issuances.
Basis of Tax
The tax is based on gross sales, receipts or earnings except on insurance
companies where the basis of tax is the total premium collected/paid.
Note: All background information must be properly filled up.
•
All returns filed by an accredited tax representative on behalf of a taxpayer
shall bear the following information:
A. For CPAs and others (individual practitioners and members of GPPs);
a.1 Taxpayer Identification Number (TIN); and
a.2 Certificate of Accreditation Number, Date of Issuance,
and Date of Expiry.
B. For members of the Philippine Bar (individual practitioners, members
of GPPs):
b.1 Taxpayer Identification Number (TIN); and
b.2 Attorney’s Roll Number or Accreditation Number, if any.
•
Nos. 1, 2 and 3 of this form refer to transaction period and not the date of
filing this return.
•
The last 3 digits of the 12-digit TIN refers to the branch code.
•
TIN = Taxpayer Identification Number
ENCS
2551M
(1) Five (5) hard copies (including filers copy) of AFS duly stamped Received by the Bureau of Internal Revenue within 120 days from the end of the fiscal year specified in the By-Laws (or 105 days from the end of the fiscal year for corporations whose securities are registered under the Revised Securities Act or the Securities Regulation Code); and
(2) a diskette containing the electronic file or template provided by SEC which shall be accompanied by a Certification executed under oath by the Treasurer that the diskette contains the same basic and material data in the AFS.
The following FS templates shall be submitted in electronic copy/diskettes only:
General Form GFFS1 - Updated 25 April 2002
The general form is applicable to companies engaged in Agriculture, Fishery, Forestry, Mining, and Quarrying, Manufacturing, Electricity, Gas and Water, Construction, Wholesale and Retail Trade, Transportation, Storage and Communications, Hotels and Restaurants, Real Estate, Community, Social and Personal Services, other forms of production and general business operations.
[N.B.
Forms for BANKS and INSURANCE COMPANIES are not yet available. Special forms shall be used by publicly-held companies and those engaged in non-bank financial intermediation activities, credit granting and activities auxiliary to financial intermediation, which require secondary license from SEC.]
Special Forms for Investment Companies and Publicly-held Companies
There are two (2) forms applicable to Investment Companies and Publicly-held Companies enumerated in Section 17.2 of the Securities Regulation Code (excluding banks and insurance companies):
PHFS1- This form is applicable to Individual or Parent Company's Financial Statements; and (Updated 25 April 2002)
PHFS2 This form shall be used by Parent Companies for reporting Consolidated Financial Statements. (Updated 25 April 2002)
Special Forms for Investment Houses
There are two (2) forms applicable to Investment Houses:
IHFS1 - This form is applicable to Individual or Parent Company's Financial Statements; and (Updated 25 April 2002)
IHFS2 This form shall be used by Parent Companies for reporting Consolidated Financial Statements. (Updated 25 April 2002)
Special Form for Pre-Need Plan Companies Using the Pre-Need Uniform Chart of Accounts (Updated 25 April 2002) PNFS1
The following FS templates shall be submitted in electronic copy/diskette and one hard copy:
Special Forms for Brokers/Dealers in Securities
There are two (2) forms applicable to Brokers and Dealers in Securities:
BDFS1- This form is applicable to Individual or Parent Company's Financial Statements; and (Updated 25 April 2002)
BDFS2 This form shall be used by Parent Companies for reporting Consolidated Financial Statements. (Updated 25 April 2002)
Special Forms for Financing Companies
Special Forms of Annual Audited Financial Statements (AAFS)
FCFS1 for every company and each branch. (Not yet available)
FCFS2 - Consolidated (head office and all branches). (Not yet available)
Special Forms of Quarterly Financial Statements (QFS)
FCQF1 for every company and each branch. (Updated 30 December 2003)
FCQF2 - Consolidated (head office and all branches). (Updated 30 December 2003)