Comprehensive Guide: How to File and Pay Quarterly Percentage Tax (BIR Form No. 2551Q) under CREATE Law
What you need to know about filing BIR Form 2551Q or Quarterly Percentage Tax (QPT)? What is BIR Form No. 2551Q. Who are required to file BIR Form No. 2551Q. How to compute for Quarterly Percentage Tax. When and where to file Quarterly Percentage Tax. How to pay Quarterly Percentage Tax. Penalties imposed for failure of filing or non-compliance. Taxation in the Philippines has undergone major transformations and new laws were implemented at the beginning of the fiscal year 2018. For those that use a n online tax calculator in the Philippines , don’t be too alarmed. We’re sure companies will learn to adapt and change their algorithm appropriately. That said, even if you do use online tax calculators or don’t handle your own taxes, you still have to remain informed. The TRAIN law changed a lot of things regarding tax computations and filing. One change in particular and the one we’ll be discussing today is the revised BIR Form No. 2551Q or the quarterly percentage tax return. The B