c


is a form of sales tax. It 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. It is an
indirect tax, which may be shifted or passed on to the buyer, transferee or lessee of goods, properties or services. ?

?
?
Who Are Required To File VAT Returns?

j? Yny person or entity who, in the course of his trade or business, sells, barters, exchanges, leases goods or
properties and renders services subject to VY , if the aggregate amount of actual gross sales or receipts
exceed One Million Five Hundred housand Pesos (P1,500,000.00).?

j? Y person required to register as VY taxpayer but failed to register?

j? Yny person, whether or not made in the course of his trade or business, who imports goods?

?
?
½onthly VAT Declarations?

 

BIR Form 2550 M - Monthly Value-Ydded ax Declaration (February 2007 ENCS) ?
^   
1. Duly issued Certificate of Creditable VY Withheld at Source (BIR Form No. 2307), if applicable?

2. Summary Ylphalist of Withholding Ygents of Income Payments Subjected to Withholding ax Yt Source

(SYW ), if applicable

3. Duly approved ax Debit Memo, if applicable

4.Duly approved ax Credit Certificate, if applicable

5. Yuthorization letter, if return is filed by authorized representative.?

!
1. Fill-up BIR Form No. 2550 M in triplicate copies (two copies for the BIR and one copy for the taxpayer)

2. If there is payment:?

rrrrrr jFile the Monthly VY declaration, together with the required attachments, and pay the VY
due thereon with any Yuthorized Ygent Bank (YYB) under the jurisdiction of the Revenue District
Office (RDO)/Large axpayers District Office (L DO) where the taxpayer (head office of the
business establishment) is registered or required to be registered. ?

j he taxpayer must accomplish and submit BIR-prescribed deposit slip, which the bank teller shall
machine validate as evidence that payment was received by the YYB. he YYB receiving the tax
return shall stamp mark the word "Received" on the return and machine validate the return as
proof of filing the return and payment of the tax.?

rrrrrrrjIn places where there are no duly accredited agent banks, file the Monthly VY declaration,
together with the required attachments and pay the VY due with the Revenue Collection Officer
(RCO) or duly authorized reasurer of the Municipality where such taxpayer (head office of the
business establishment) is registered or required to be registered.?

j he RCO or duly authorized Municipal/City reasurer shall issue a Revenue Official Receipt upon
payment of the tax.?
3. If there is no payment:?

jFile the Monthly VY Declaration, together with the required attachments

with the RDO/L DO/Large axpayers Yssistance Division, Collection Ygent or
duly authorized Municipal/ City reasurer of Municipality/City where the
taxpayer (head office of the business establishment) is registered or
required to be registered.?

Deadline

j½
 ?


Not later than the 20th day following the end of each month?

j hrough Electronic Filing and Payment System (eFPS):?

u !

c^
 

Group A?
Insurance and Pension Funding ? ?
Œ








Yctivities Yuxiliary to Financial Intermediation ?  
Construction
Water ransport
Hotels and Restaurants
Land ransport

Group B
Manufacture and Repair of Furniture Œ








Manufacture of Basic Metals  
Manufacture of Chemicals and Chemical Products
Manufacture of Coke, Refined Petroleum & Fuel Products
Manufacture of Electrical Machinery & Ypparatus N.E.C.
Manufacture of Fabricated Metal Products
Manufacture of Food, Products & Beverages
Manufacture of Machinery & Equipment NEC
Manufacture of Medical, Precision, Optical Instruments
Manufacture of Motor Vehicles, railer & Semi- railers
Manufacture of Office, Yccounting & Computing Machinery
Manufacture of Other Non-Metallic Mineral Products
Manufacture of Other ransport Equipment
Manufacture of Other Wearing Ypparel
Manufacture of Paper and Paper Products
Manufacture of Radio, V & Communication Equipment/ Ypparatus
Manufacture of Rubber & Plastic Products
Manufacture of extiles
Manufacture of obacco Products
Manufacture of Wood & Wood Products
Manufacturing N.E.C.
Metallic Ore Mining
Non-Metallic Mining & Quarrying

Group C
Retail Sale Œ








Wholesale rade and Commission rade  
Sale, Maintenance, Repair of Motor Vehicle, Sale of Yutomotive Fuel
Collection, Purification and Distribution of Water
Computer and Related Yctivities
Real Estate Yctivities

Group D
Yir ransport ŒŒ








Electricity, Gas, Steam & Hot Water Supply  
Postal & elecommunications
Publishing, Printing & Reproduction of Recorded Media
Recreational, Cultural & Sporting Yctivities
Recycling
Renting of Goods & Equipment
Supporting & Yuxiliary ransport Services

Group E
Yctivities of Membership Organizations, Inc. Œ








Health and Social Work  
Public Ydmin & Defense Compulsory Social Security
Research and Development
Ygricultural, Hunting, and Forestry
Farming of Ynimals
Fishing
Other Service Yctivities
Miscellaneous Business Yctivities
Unclassified
?
?
Xuarterly Value-Added Tax Return?

 
 
BIR Form No. 2550Q - Quarterly Value-Ydded ax Return (February 2007 ENCS)?

  

1. Duly issued Certificate of Creditable VY Withheld at Source (BIR Form 2307), if applicable?

2. Summary Ylphalist of Withholding Ygents of Income Payments Subjected to Withholding ax Yt Source

(SYW ), if applicable?

3. Duly approved ax Debit Memo, if applicable

4. Duly approved ax Credit Certificate, if applicable

5. Previously filed return and proof of payment, for amended return?

6. Yuthorization letter, if return is filed by authorized representative?

!
1. Fill-up BIR Form 2550 Q in triplicate copies (two copies for the BIR and one copy for the taxpayer)

2. If there is payment:

?
 jFile the Quarterly VY Return, together with the required attachments, and pay the VY due thereon
with any YYB under the jurisdiction of the RDO/L DO where the taxpayer (head office of the business
establishment) is registered or required to be registered.?

 ?
 ?
? ?
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jIn places where there are no duly accredited agent banks, file the Quarterly VY Return, together
with the required attachments and pay the VY due with the Revenue Collection Officer (RCO) or duly
authorized reasurer of the Municipality where such taxpayer (head office of the business
establishment) is registered or required to be registered.?

 ?!"?? ? 
# ?½
 $!
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3. If there is no payment:?

jFile the Quarterly VY Return, together with the required attachments

with the RDO/L DO/Large axpayers Yssistance Division, Collection Ygent
or duly authorized Municipal/City reasurer of Municipality/City where the
taxpayer (head office of the business establishment) is registered or
required to be registered.?

?
?

 rs:
1. O o coso  Mo  VAT D cro
ur r VAT
 ur s  b f  cov r  r sus of op ro of  
offc s w  s  brc s for   s of bus ss subj c o
VAT.
?
Œ. T ur r Ls of S s  Purc s s s  b sub
  

 c for
us 3.5-c fopp sk  foow  for

prov  u r S co 4.114-3( of  No. 16-Π5.?

3. T ur r Ls of S s  Purc s s s  b sub
 

 rou  croc f fc for p rs u r 
jursco of  Lr Tp rs S rvc (LTS   os
ro  u r  PS.?

^ 

Within twenty five (25) days following the close of taxable quarter (for manual filing).?

Within thirty (30) days following the close of taxable quarter (for taxpayers under the jurisdiction of the L S and
those enrolled under eFPS)?
?
?
Tax Rates ?
jOn sale of goods and properties - twelve percent (12%) of the gross selling price or gross value in money of the
goods or properties sold, bartered or exchanged

jOn sale of services and use or lease of properties - twelve percent (12%) of gross receipts derived from the sale
or exchange of services, including the use or lease of properties

jOn importation of goods - twelve percent (12%) based on the total value used by the Bureau of Customs in
determining tariff and customs duties, plus customs duties, excise taxes, if any, and other charges, such as
tax to be paid by the importer prior to the release of such goods from customs custody; provided, that where
the customs duties are determined on the basis of quantity or volume of the goods, the VY shall be based on
the landed cost plus excise taxes, if any.

jOn export sales and other zero-rated sales - 0%

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What are the penalties for failure to submit the Summary Lists?

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OOO What is the treatment for Withholding of VAT on Government Money Payments?

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OV On what grounds can the Commissioner of Onternal Revenue suspend the business operations of a
taxpayer?


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Description?

Percentage tax is a business tax imposed on persons or entities who sell or lease goods, properties or services in the

^

Percentage tax is a business tax imposed on persons or entities who sell or lease goods,
properties or services in the course of trade or business whose gross annual sales and/or
receipts do not exceed P750,000 and who are not VY -registered.



!  

· Yny person who is not a VY -registered person (persons exempt from VY under Sec.
109z of the ax Code)

· 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 electric, gas or water utilities

· Franchise grantees of radio and/or television broadcasting companies whose gross

annual receipts for the preceding year do not exceed en Million Pesos (P 10,000,000.00) and
did not opt to register as VY taxpayers

· Operators of communication equipment sending overseas dispatch, messages, or

conversations from the Philippines, except on services involving the following:

o Government of the Philippines - for messages transmitted by the Government of the

Republic of the Philippines or any of its political subdivisions and instrumentalities

o Diplomatic services - for messages transmitted by any embassy and consular offices
of a foreign government

o International organizations - for messages transmitted by a public international

organization or any of its agencies based in the Philippines enjoying privileges, exemptions
and immunities which the government of the Philippine is committed to recognize pursuant to
an international agreement

o News Services - for messages from any newspaper, press association, radio or
television newspaper broadcasting agency, or newsticker services to any other newspaper,
press association, radio or television, newspaper, broadcasting agency or newsticker
services, or to bonafide correspondents, which messages deal exclusively with the collection
of news items for, or the dissemination of news items through public press, radio or television
broadcasting or a newsticker service furnishing a general news service similar to that of the
public press

· Banks and non-bank financial intermediaries and finance companies

· Life insurance premiums

· Ygents of foreign insurance companies

· Proprietor, lessee, or operator of cockpits, cabarets, night or day clubs, boxing

exhibitions, professional basketball games, jai-alai and race tracks
· Every stock broker who effected a sale, barter, exchange or other disposition of
shares of stock listed and traded through the Local Stock Exchange (LSE) other than the sale
by a dealer in securities

· Corporate issuer / stock broker, whether domestic of foreign, engaged in the sale,
barter, exchange or other disposition through Initial Public Offering (IPO) seller in secondary
public offering of shares of stock in closely held corporations


!  

 
 
BIR Form 2551 M - Monthly Percentage ax Return

^   

1. Duly issued Certificate of Creditable ax Withheld at Source (BIR Form 2307), if

applicable

2. Duly approved ax Debit Memo, if applicable

3. Copy of Certificate of Registration issued by Cooperative Development Yuthority for

cooperatives and from the National Electrification Ydministration for electric cooperatives

4. Previously filed return and proof of payment, for amended return

!
1. Fill-up BIR Form 2551 M in triplicate copies

2. If there is payment:

· Proceed to the nearest Yuthorized Ygent Bank (YYB) of the Revenue District Office
where taxpayer is required to register and present the duly accomplished BIR Form 2551 M,
together with the required attachments and payment. ( he Percentage ax imposed shall be
paid at the time the return is filed by the taxpayer.)

· In places where there are no YYBs, the duly accomplished BIR Form 2551 M, together
with the required attachments and payment, shall be filed/paid with the Revenue Collection
Officer or duly Yuthorized reasurer of the city or municipality where said business or
principal place of business is located.
· Receive taxpayer's copy of the duly stamped and validated form from the teller of the
YYB/Revenue Collection Officer/duly Yuthorized City or Municipal reasurer.

3. If there is no payment:

· Proceed to the Revenue District Office where taxpayer is required to register and
present the duly accomplished BIR Form 2551M, together with the required attachments.

· Receive taxpayer's copy of the duly stamped and validated form from the RDO
representative.

Note: "No payment" returns filed late shall be imposed the necessary penalties by the RDO,
which shall be paid at the concerned YYB.

^ 



·  




Not later than 20th day following the end of each month

·




 !   
! 

Group Y- wenty-Five (25) days following the end of the month

Group B- wenty-Four (24) days following the end of the month
Group C- wenty- hree (23) days following the end of the month
Group D- wenty- wo (22) days following the end of the month
Group E- wenty-One (21) days following the end of the month

! 
!  

 
 
BIR Form 2551 Q - Quarterly Percentage ax Return

^   



1. Duly issued Certificate of Creditable ax Withheld at Source (BIR Form 2307), if

applicable

2. Duly approved ax Debit Memo, if applicable

3. Copy of Certificate of Registration issued by Cooperative Development Yuthority for

cooperatives and from the National Electrification Ydministration for electric cooperatives

4. Previously filed return and proof of payment, for amended return

!

1. Fill-up BIR Form 2551 Q in triplicate copies.

2. If there is payment:

· Proceed to the nearest Yuthorized Ygent Bank (YYB) of the Revenue District Office
where taxpayer is required to register and present the duly accomplished BIR Form 2551Q,
together with the required attachments and payment. ( he Percentage ax imposed shall be
paid at the time the return is filed by the taxpayer.)

· In places where there are no YYBs, the accomplished BIR Form 2551 Q, together with
the required attachments and payment, shall be filed/paid with the Revenue Collection Officer
or duly Yuthorized reasurer of the city or municipality where said business or principal place
of business is located.

· Receive taxpayer's copy of the duly stamped and validated form from the teller of the
YYB/Revenue Collection Officer/duly Yuthorized City or Municipal reasurer.

3. If there is no payment:

j? Proceed to the Revenue District Office where taxpayer is required to register and
present the duly accomplished BIR Form 2551Q, together with the required
attachments.
j? Receive taxpayer's copy of the duly stamped and validated form from the RDO
representative.
Note: "No payment" returns filed late shall be imposed the necessary penalties by
the RDO, which shall be paid at the concerned YYB.

^ 


·  




Not later than 20th day following the end of each quarter

·




 !   
!
 Not later than the 20th day following the end of the quarter

!  
  "
" #$  
$
#  
 % &

 


BIR Form 2552 - Percentage ax Return (For ransactions Involving Shares of Stocks Listed
and raded hrough the Local Stock Exchange or hrough Initial and/or Secondary Offering)

^   

1. Duly issued Certificate of Creditable ax Withheld at Source (BIR Form 2307), if

applicable

2. Proof of Exemption for transactions not subject to tax, if applicable

3. Duly approved ax Debit Memo, if applicable

4. Previously filed return and proof of payment, for amended return

!


1. Fill-up BIR Form 2552 in triplicate copies.

2. If there is payment:

· Proceed to the nearest Yuthorized Ygents Banks (YYBs) of the Revenue District Office
where the local stock exchange is located and present the duly accomplished BIR Form 2552,
together with the required attachments and payment. ( he Percentage ax imposed shall be
paid at the time the return is filed by the taxpayer.)

· Receive taxpayer's copy of the duly stamped and validated form from the teller of the
YYB
3. If there is no payment:

· Proceed to the Revenue District Office where the local stock exchange is located and
present the duly accomplished BIR Form 2552, together with the required attachments.

· Receive taxpayer's copy of the duly stamped and validated form from the RDO
representative.
Note: "No payment" returns filed late shall be imposed the necessary penalties by the RDO,
which shall be paid at the concerned YYB.

^ 



· For tax on sale of shares of stocks listed and traded through the local stock exchange
(LSE) ± within five (5) banking days from the date of collection

· For tax on shares of stocks sold or exchanged through primary offering - within 30
days from the date of listing in the LSE

· For tax on shares of stocks sold or exchanged through secondary public offering
- within five (5) banking days from the date of collection

  

'"  u    

Persons exempt from VY under Gross Sales or Receipts 3%
Sec. 116
Domestic carriers and keepers of Gross Receipts 3%
garages

International Carriers:
International air/shipping carriers Gross Receipts 3%
doing business in the Philippines
Franchise Grantees:
Electric , gas and water utilities Gross Receipts 2%
Radio and television broadcasting Gross Receipts 3%
companies whose annual gross
receipts of the preceding year do not
exceed P 10,000,000 and did not opt
to register asVY taxpayer
Banks and non-bank financing Interest, commissions and discounts
intermediaries from lending activities as well as
income from leasing on the basis of
remaining maturities of instruments:
j? Short term maturity (not
over 2 years) 5%

j? Medium term (over 2 years

but not over 4 years) 3%

j? Long erm Maturity

a? Over 4 years but

not over 7 years 1%

a? Over 7 years
0%

On Dividends 0%

On royalties, rentals of properties,

real or personal, profits from
exchange and all other items treated 5%
as gross income under Sec. 32 of the
Code
On interest, discounts and other items
of gross income paid to finance
Finance Companies companies and other financial 5%
intermediaries not performing quasi
banking functions
Interest, commissions and discounts
paid from their loan transactions from
finance companies as well as income
from financial leasing shall be taxed
based on the remaining maturities of
instruments:
j? Short term maturity (not
over 2 years) 5%

j? Medium term (over 2 years

but not over 4 years) 3%

j? Long erm Maturity

a? Over 4 years but

not over 7 years 1%

a? Over 7 years
0%

Life Insurance Companies (except

purely cooperative companies or otal premiums collected 5%
associations)
Ygents of foreign insurance
companies: (except reinsurance
premium)
 · Insurance agents authorized
under the Insurance Code to procure
policies of insurance for companies otal premium collected 10 %
not authorized to transact business
in the Phils.
· Owners of property obtaining
insurance directly with foreign otal premium collected 5%
insurance companies
Proprietors, lessee or operator of the
following:
Cockpits Gross receipts 18%
Cabarets, Night or Day Clubs Gross receipts 18%
Boxing exhibitions Gross receipts 10%
Professional basketball games Gross receipts 15%
Jai-alai and race track (operators
Gross receipts 30%
shall withheld tax on winnings)
Every stock broker who effected a
sale, barter, exchange or other Gross selling price or gross value in
disposition of shares of stock listed money of shares of stocks sold,
½ of 1 %
and traded through the Local Stock bartered, exchanged or otherwise
Exchange (LSE) other than the sale disposed
by a dealer in securities
Y corporate issuer/stock broker,
Gross selling price or gross value of in
whether domestic of foreign,
money of shares of stocks sold,
engaged in the sale, barter,
bartered, exchanged or otherwise
exchange or other disposition
disposed in accordance with the
through Initial Public Offering
proportion of stocks sold, bartered or
(IPO)/secondary public offering of
exchanged or after listing in the stock
shares of stock in closely held
exchange
corporations
· Up to 25 % 4%
· Over 25% but not over 33
2%
1/3%
· Over 33 1/3 % 1%


" 

RR No. 4-95, RR 7-95, RR No. 5-97, RR No. 2-98, RR No. 7-95, RR No. 6-2001, RR No. 12-
2001, RR No. 4-2002, RR No. 26-2002, RR No. 14-2003, RR No. 9-2004, RR No. 10-2004,
RMC No. 6-2003, RMC No. 73-2004

'


Sections 116 to 128 of the National Internal Revenue Code

2004 Copyright © bir.gov.ph Yll rights reserved.

of trade or business whose gross annual sales and/or receipts do not exceed P750,000 and who are not VY -registered.?

?
?
Who Are Required To File Percentage Tax Returns?

j??????????Yny person who is not a VY -registered person (persons exempt from VY under Sec. 109z of the ax Code)

j??????????Domestic carriers and keepers of garages, except owners of bancas and owners of animal drawn two- wheeled vehicle

j??????????Operators of international air and shipping carriers doing business in the Philippines?

j??????????Franchise grantees of electric, gas or water utilities

j??????????Franchise grantees of radio and/or television broadcasting companies whose gross annual receipts for the preceding year do n
en Million Pesos (P 10,000,000.00) and did not opt to register as VY taxpayers

j??????????Operators of communication equipment sending overseas dispatch, messages, or conversations from the Philippines, except o
involving the following:?

o?????????Government of the Philippines - for messages transmitted by the Government of the Republic of the Philippines or any of
subdivisions and instrumentalities

o?????????Diplomatic services - for messages transmitted by any embassy and consular offices of a foreign government

o?????????International organizations - for messages transmitted by a public international organization or any of its agencies based
Philippines enjoying privileges, exemptions and immunities which the government of the Philippine is committed to recogn
pursuant to an international agreement

o?????????News Services - for messages from any newspaper, press association, radio or television newspaper broadcasting agency
newsticker services to any other newspaper, press association, radio or television, newspaper, broadcasting agency or ne
services, or to bonafide correspondents, which messages deal exclusively with the collection of news items for, or the diss
of news items through public press, radio or television broadcasting or a newsticker service furnishing a general news serv
to that of the public press?

j??????????Banks and non-bank financial intermediaries and finance companies

 ?

j??????????Life insurance premiums

j??????????Ygents of foreign insurance companies

j??????????Proprietor, lessee, or operator of cockpits, cabarets, night or day clubs, boxing exhibitions, professional basketball games, jai-
race tracks

j??????????Every stock broker who effected a sale, barter, exchange or other disposition of shares of stock listed and traded through the
Exchange (LSE) other than the sale by a dealer in securities

j??????????Corporate issuer / stock broker, whether domestic of foreign, engaged in the sale, barter, exchange or other disposition throu
Public Offering (IPO) seller in secondary public offering of shares of stock in closely held corporations?

?
?
½onthly Percentage Tax ?

 
 
BIR Form 2551 M - Monthly Percentage ax Return

^    ?

1.???????Duly issued Certificate of Creditable ax Withheld at Source (BIR Form 2307), if applicable

2.???????Duly approved ax Debit Memo, if applicable

3.???????Copy of Certificate of Registration issued by Cooperative Development Yuthority for cooperatives and from the National
Electrification Ydministration for electric cooperatives

4.???????Previously filed return and proof of payment, for amended return?

!
1. Fill-up BIR Form 2551 M in triplicate copies ?
2.???????If there is payment:?
 j?????????Proceed to the nearest Yuthorized Ygent Bank (YYB) of the Revenue District Office where taxpayer is required to register
and present the duly accomplished BIR Form 2551 M, together with the required attachments and payment. ( he
Percentage ax imposed shall be paid at the time the return is filed by the taxpayer.)

j?????????In places where there are no YYBs, the duly accomplished BIR Form 2551 M, together with the required attachments and
payment, shall be filed/paid with the Revenue Collection Officer or duly Yuthorized reasurer of the city or municipality
where said business or principal place of business is located.

j?????????Receive taxpayer's copy of the duly stamped and validated form from the teller of the YYB/Revenue Collection Officer/dul
Yuthorized City or Municipal reasurer. ?

%??????? ?
  ??
? 

&?

j?????????' ?
?
 ? 
 ?(

?"  ?  ?
 ?? ) ?
? 
?
? 

?
 ? ? 
??*++,½?

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?
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?

j?????????   ?
 -? ? ?
 ? ?
 ?
? 
? ? ?
 ?("?  


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&?.? 

?

?  ?
? ? ? ?
 ?
   ?

 ? ?
 ?("?? ? ? 

 
??

^ 


?

j?????????½anual Filing

??????.
?
?

?*/
? ? 
?
 ?
? ? ?



j?????????Filing Through Electronic Filing and Payment System (eFPS)

Group Y- wenty-Five (25) days following the end of the month

Group B- wenty-Four (24) days following the end of the month
Group C- wenty- hree (23) days following the end of the month
Group D- wenty- wo (22) days following the end of the month
Group E- wenty-One (21) days following the end of the month?

?
?
Xuarterly Percentage Tax ?

 
 
BIR Form 2551 Q - Quarterly Percentage ax Return ?

^   


?
1.???????Duly issued Certificate of Creditable ax Withheld at Source (BIR Form 2307), if applicable

2.???????Duly approved ax Debit Memo, if applicable

3.???????Copy of Certificate of Registration issued by Cooperative Development Yuthority for cooperatives and from the National
Electrification Ydministration for electric cooperatives

4.???????Previously filed return and proof of payment, for amended return?

!

1.???????Fill-up BIR Form 2551 Q in triplicate copies.

2.???????If there is payment:

j??????????Proceed to the nearest Yuthorized Ygent Bank (YYB) of the Revenue District Office where taxpayer is required to register and
present the duly accomplished BIR Form 2551Q, together with the required attachments and payment. ( he Percentage ax
imposed shall be paid at the time the return is filed by the taxpayer.)

j??????????In places where there are no YYBs, the accomplished BIR Form 2551 Q, together with the required attachments and payment
shall be filed/paid with the Revenue Collection Officer or duly Yuthorized reasurer of the city or municipality where said busin
or principal place of business is located.

j??????????Receive taxpayer's copy of the duly stamped and validated form from the teller of the YYB/Revenue Collection Officer/duly
Yuthorized City or Municipal reasurer. ?

3.???????If there is no payment:?

j? Proceed to the Revenue District Office where taxpayer is required to register and present the duly accomplished B
2551Q, together with the required attachments.?
j? Receive taxpayer's copy of the duly stamped and validated form from the RDO representative.
Note: "No payment" returns filed late shall be imposed the necessary penalties by the RDO, which shall be paid at the
YYB.?

Deadline

j?????????? 


?
 Not later than 20th day following the end of each quarter?

j??????????




 !   
! ?
Not later than the 20th day following the end of the quarter?

?
?
Percentage Tax For Transactions Involving Shares of Stocks Listed and Traded Through the Local Stoc
Exchange or Through Initial and/or Secondary Offering?

 


BIR Form 2552 - Percentage ax Return (For ransactions Involving Shares of Stocks Listed and raded hrough the Local Stock
Exchange or hrough Initial and/or Secondary Offering)?

^   

1.???????Duly issued Certificate of Creditable ax Withheld at Source (BIR Form 2307), if applicable

2.???????Proof of Exemption for transactions not subject to tax, if applicable

3.???????Duly approved ax Debit Memo, if applicable

4.???????Previously filed return and proof of payment, for amended return?

?
!

?

1.???????Fill-up BIR Form 2552 in triplicate copies.

2.???????If there is payment:?

j?????????Proceed to the nearest Yuthorized Ygents Banks (YYBs) of the Revenue District Office where the local stock exchange is
located and present the duly accomplished BIR Form 2552, together with the required attachments and payment. ( he
Percentage ax imposed shall be paid at the time the return is filed by the taxpayer.)
 ?

j?????????Receive taxpayer's copy of the duly stamped and validated form from the teller of the YYB

%??????? ?
  ??
? 

&?

j?????????Proceed to the Revenue District Office where the local stock exchange is located and present the duly accomplished BIR
Form 2552, together with the required attachments.

j?????????Receive taxpayer's copy of the duly stamped and validated form from the RDO representative.
Note: "No payment" returns filed late shall be imposed the necessary penalties by the RDO, which shall be paid at the
concerned YYB.?

^ 


?

j??????????For tax on sale of shares of stocks listed and traded through the local stock exchange (LSE) ± within five (5) banking day
date of collection

j??????????For tax on shares of stocks sold or exchanged through primary offering - within 30 days from the date of listing in the LS

j??????????For tax on shares of stocks sold or exchanged through secondary public offering
- within five (5) banking days from the date of collection ?

?
?
Tax Rates?

??

'"  ? u  ?    ?

Persons exempt from VY under Gross Sales or Receipts? 3%?

Sec. 116?

Domestic carriers and keepers of Gross Receipts? 3%?

garages?
??
International Carriers: ?
International air/shipping carriers Gross Receipts? 3%?
doing business in the Philippines?

Franchise Grantees:?

Electric , gas and water utilities? Gross Receipts? 2%?

Radio and television broadcasting Gross Receipts? 3 %?

companies whose annual gross
receipts of the preceding year do not
exceed P 10,000,000 and did not opt
to register asVY taxpayer?

Banks and non-bank financing Interest, commissions and discounts ??

intermediaries? from lending activities as well as
income from leasing on the basis of
remaining maturities of instruments:?

?? j? Short term maturity (not

over 2 years)? 5 %?

?? j? Medium term (over 2 years

but not over 4 years)? 3 %?

?? j? Long erm Maturity ?

??
?? a? Over 4 years but
not over 7 years? 1 %?

?? a? Over 7 years?
0 %?

?? On Dividends? 0 %?

On royalties, rentals of properties,

real or personal, profits from
exchange and all other items treated 5 %?
as gross income under Sec. 32 of the
Code?
On interest, discounts and other items
of gross income paid to finance
Finance Companies? companies and other financial 5 %?
intermediaries not performing quasi
banking functions?
Interest, commissions and discounts
paid from their loan transactions from
finance companies as well as income
?? from financial leasing shall be taxed
??
based on the remaining maturities of
instruments:?
j? Short term maturity (not
?? over 2 years)? 5 %?

j? Medium term (over 2 years

?? but not over 4 years)? 3 %?

j? Long erm Maturity ?

?? ??
 a? Over 4 years but
?? not over 7 years? 1 %?

a? Over 7 years?
?? 0 %?

Life Insurance Companies (except

purely cooperative companies or otal premiums collected ? 5 %?
associations) ?
Ygents of foreign insurance
companies: (except reinsurance ?? ??
premium)?
j??????????Insurance agents authorized
under the Insurance Code to
procure policies of insurance for otal premium collected? 10 %?
companies not authorized to
transact business in the Phils.?
j??????????Owners of property obtaining
insurance directly with foreign otal premium collected ? 5 %?
insurance companies?
Proprietors, lessee or operator of the
following: ?
?? ??
Cockpits? Gross receipts? 18%?
Cabarets, Night or Day Clubs? Gross receipts? 18%?
Boxing exhibitions? Gross receipts? 10%?
Professional basketball games? Gross receipts? 15%?
Jai-alai and race track (operators
Gross receipts? 30%?
shall withheld tax on winnings)?
Every stock broker who effected a
sale, barter, exchange or other Gross selling price or gross value in
disposition of shares of stock listed money of shares of stocks sold,
½ of 1 %?
and traded through the Local Stock bartered, exchanged or otherwise
Exchange (LSE) other than the sale disposed?
by a dealer in securities?
Y corporate issuer/stock broker,
Gross selling price or gross value of in
whether domestic of foreign,
money of shares of stocks sold,
engaged in the sale, barter,
bartered, exchanged or otherwise
exchange or other disposition
through Initial Public Offering
disposed in accordance with the ??
proportion of stocks sold, bartered or
(IPO)/secondary public offering of
exchanged or after listing in the stock
shares of stock in closely held
exchange?
corporations?
?? j?????????Up to 25 % ? 4%?

?? j?????????Over 25% but not over 33 1/3% ? 2%?

?? j?????????Over 33 1/3 % ? 1%?

?

?
?
Related Revenue Issuances?
RR No. 4-95, RR 7-95, RR No. 5-97, RR No. 2-98, RR No. 7-95, RR No. 6-2001, RR No. 12-2001, RR No. 4-2002, RR No. 26-2002,
2003, RR No. 9-2004, RR No. 10-2004, RMC No. 6-2003, RMC No. 73-2004?
?
?
 èodal Reference?

Sections 116 to 128 of the National Internal Revenue Code ?

?
?

? ?

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