BIR Form 2551Q, or also known as Quarterly Percentage Tax Return are taxes imposed on individuals/businesses who sells/lease goods or services which are exempted from Value Added Tax (VAT) with annual sales not exceeding 3,000,000 PHP.
You need to specify Percentage Tax as your tax type before generating a report.
To start generating your 2551Q report follow these steps:
STEP 1: Access your dashboard and go to Percentage Tax Return, then proceed to 2551Q tab
STEP 2: Click the plus icon (Generate Report)
STEP 3: Select the Month and Year of your report then hit Generate
You can start adding transactions by either:
- Adding them manually
- By importing CSV format transaction
Graduated or 8% Income Tax Rate
STEP 4: After generating the report, you also need to choose between radio buttons on whether you wanted to utilize either graduated or 8% income tax rates
Adding Transaction(s) Manually
STEP 1: Proceed to the Sources tab and click either the plus icon (Add Transaction(s)) or the CREATE TRANSACTION button
Note: In case that your customer isn't a part of your contacts, you can easily add them by clicking the Add New Contact link.
STEP 2: It will prompt you to a form where you could fill out all the important information such as Contact Type, TIN and Address. Click Save button to continue
STEP 3: Once added, you can already start adding other information such as Description, Reference No., Date, Amount and ATC. Hit SAVE button to continue
After saving, your transaction will appear in the 2551Q grid. You can edit, delete, bulk edit, export, search and navigate through your transactions list.
Preview of the Report
You can also access a preview of the actual report by clicking on the Report tab next to Sources.
Filing the Report
Simply file your report by following the guidelines mentioned in this article through our Help site.
Paying the Return
Follow the steps in this article for you be to able to pay your filed tax return in JuanTax.