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What is this form?
BIR Form 2551Q, or also known as Quarterly Percentage Tax Return are taxes imposed on individuals/businesses who sell/lease goods or services which are exempted from Value Added Tax (VAT) with annual sales not exceeding 3,000,000 PHP.
Currently, the updated version of this form comes with additional ATCs (Alphanumeric Tax Code) such as PT010, PT040 and many others
BIR Form 2551Q Quarterly Percentage Tax Return is one of the tax returns filed by Taxpayers registered as NonVAT or commonly referred to as Person or Entity Exempt from Value-Added Tax (VAT).
However, it is also used to file other percentage taxes of certain industries such as the following:
Domestic Carriers and Keepers of Garages
International Carriers
Franchises on radio/tv broadcasting companies and gas/water utilities
Overseas Dispatch, Message or Conversation Originating from the Philippines
Bank and Non-Bank Financial Intermediaries Performing Quasi-Banking Functions
Other Non-Banking Intermediaries
Life Insurance Premiums
Agents of Foreign Insurance Companies
Amusement Taxes
Winnings
Sale, Barter or Exchange of Shares of Stock Listed and Traded through the Local Stock Exchange
and so on..
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