ss

H1 – 3% Other percentage tax (OPT)

1. Gross sales 160,000.00

Sales returns and allowances -7,000.00
Sales discounts -3,000.00 -10,000.00
Tax base 150,000.00
x OPT rate 3%
Other percentage tax ₱ 4,500

2. April 25, 20A1

3. April 25, 20A1

4. BIR Form 2551Q

5. Output VAT
Tax base 150,000.00
x VAT rate 12% 18,000.00
Input VAT
Purchase of goods sold 60,000.00
x VAT rate 12% -7,200.00
VAT payable ₱ 10,800
 Sales Q1 Q2 Q3 Q4
Q1 700,000.00 700,000.00 700,000.00 700,000.00
Q2 800,000.00 800,000.00 800,000.00
Q3 1,450,000.00 1,450,000.00
Q4 1,500,000.00
Cumulative 700,000.00 1,500,000.00 2,950,000.00 4,450,000.00

Discount Q1 Q2 Q3 Q4
Q1 80,000.00 80,000.00 80,000.00 80,000.00
Q2 100,000.00 100,000.00 100,000.00
Q3 150,000.00 150,000.00
Q4 130,000.00
Cumulative 80,000.00 180,000.00 330,000.00 460,000.00

Sales 700,000.00 1,500,000.00 2,950,000.00 4,450,000.00

Discount 80,000.00 180,000.00 330,000.00 460,000.00
Gross Sales 780,000.00 1,680,000.00 3,280,000.00 4,910,000.00

Q1 Q2 Q3 Q4
1-3) OPT For Q3
First 3M 3,100,000.00
OPT rate 3.00%
OPT 93,000.00

VAT for Q3
Gross sales 3,280,000.00
First 3M -3,100,000.00
Excess 180,000.00
Vat Rate 12%
Output VAT 21,600.00
Input VAT -20,000.00
VAT Payable 1,600.00

VAT for Q4
Gross Sales 4,910,000.00
Prior sales -3,280,000.00
For the quarter 1,630,000.00
VAT rate 12%
Output VAT 195,600.00
 Input VAT -150,000.00
Output VAT Payable 45,600.00

Filing document Q3 OPT return Q3 VAT return VAT return

Deadline of filing Oct-25 Oct-25 25th day
Registration requirement Register as VAT taxpayer by September 30, 20A

4-6) Q1 Q2 Q3 (OPT) Q3 (VAT)

Sales 700,000.00 1,500,000.00 2,950,000.00
Discount 80,000.00 180,000.00 330,000.00
Gross Sales 780,000.00 1,680,000.00 3,100,000.00 3,280,000.00
Taxed in prior p – -780,000.00 -1,680,000.00 -3,100,000.00
Taxable 780,000.00 900,000.00 1,420,000.00 180,000.00
OPT/VAT rate 3% 3% 3% 12%
Tax 23,400.00 27,000.00 42,600.00 21,600.00
Input VAT -20,000.00
OPT/VAT due 23,400.00 27,000.00 42,600.00 1,600.00

Filing documentOPT return OPT return OPT return VAT return

Deadline of filinApr-25 Jul-25 Oct-25 Oct-25
Registration of Register as VAT taxpayer by September 30, 20A
 Q4
4,450,000.00
460,000.00
4,910,000.00
-3,280,000.00
1,630,000.00
12%
195,600.00
-150,000.00
45,600.00

VAT return
25th day
Checked na
PASSENGERS CARGOES
TAXI
On 90 units
Actual receipts 1,250,000.00
Minimum receipts
Minimum per unit 3,600.00
No. of units 90.00 324,000.00 1,250,000.00
On 5 units
No. 1
Actual receipts 2,100.00
Minimum receipts 3,600.00 3,600.00
No. 2
Actual receipts 0.00
Minimum receipts 3,600.00 3,600.00
No. 3
Actual receipts 36,000.00
Minimum receipts 3,600.00 36,000.00
No. 4
Actual receipts 3,000.00
Minimum receipts 3,600.00 3,600.00
No. 5
Actual receipts 16,500.00
Minimum receipts 3,600.00 16,500.00
Subtotal for taxis 1,313,300.00
BUS
On 5 units
Actual receipts 2,250,000.00
Minimum receipts
Minimum per unit 7,200.00
No. of units 5.00 36,000.00 2,250,000.00 520,000.00
On 1 unit
Actual receipts 3,000.00
Minimum receipts 3,600.00 3,600.00 200.00
Subtotal for buses 2,253,600.00 520,200.00
Taxable gross receipts 3,566,900.00 520,200.00
Rate 3% 12%
Percentage tax 107,007.00 62,424.00

Deadline for: Manual EFPS

Filing Oct 25 20A1 Oct 25 20A1
Payment Oct 25 20A1 Oct 25 20A1

BIR Forms
Quarterly Percentage Tax Return 2551Q
Quarterly VAT Return 2550Q
Requirement no. 1
Excess baggage of outgoing flights ₱1,200,000
Outgoing cargoes 5,000,000.00
Tax base ₱6,200,000
Multiplied by: ICT rate 3%
International carrier's tax ₱186,000

Requirement nos. 2, 3 & 4

Deadlines Manual EFPS
Filing July 25, 20A1 July 25, 20A1
Payment July 25, 20A1 July 25, 20A1
Tax return BIR Form 2551Q
 Problem H6: Franchise tax, water utilities, broadcasting
checked na

WATER UTILITIES March 31,20A1

Sale of water 5,000,000.00
Tax rate 2%
Franchise Tax

RADIO AND TV BROADCASTING January February March

Sale of radio and TV time ₱ 1,800,000.00 2,200,000.00 2,800,000.00
Tax rate 3% 3% 3%
Franchise tax 54,000.00 66,000.00 84,000.00
Req 1 TOTAL QUARTERLY FRANCHISE TAX

Req 2 & 3 April 25

Req 4 Form 2551Q

Output tax
Sales - January 1,800,000.00
Sales - February 2,200,000.00
Sales - March 2,800,000.00
Total 6,800,000.00
Tax rate 12% 816,000.00
Input tax
Purchases - January 540,000.00
Purchases - February 660,000.00
Purchases - March 840,000.00
Total 2,040,000.00
Tax rate 12% (244,800.00)
Req 5 VAT PAYABLE 571,200.00
ch 31,20A1

100,000.00

204,000.00
304,000.00
 H8
Not yet checked
Requirement 1 Income
Dividends 800,000.00
Equity income 1,000,000.00
Rentals of property 4,000,000.00
Net Interest Income on Bank De 800,000.00
DIVIDE: Gross Up 80% 1,000,000.00

Net Interest Income on Bank De 425,000.00

DIVIDE: Gross Up 85% 500,000.00

Rentals of safety deposit boxes 300,000.00

Net Trading Gain 1,350,000.00
Interest on loans with remaining maturities of:
Not more than 5 years 4,000,000.00
More than 5 years 6,400,000.00
Total

Requirement 2 Income
Dividends 800,000.00
Equity income 1,000,000.00
Rentals of property 4,000,000.00
Net Interest Income on Bank De 800,000.00
DIVIDE: Gross Up 80% 1,000,000.00

Net Interest Income on Bank De 425,000.00

DIVIDE: Gross Up 85% 500,000.00

Rentals of safety deposit boxes 300,000.00

Net Trading Gain 1,350,000.00
Interest on loans with remaining maturities of:
Not more than 5 years 4,000,000.00
More than 5 years 6,400,000.00
Passed on GRT (Not more than 5 years)
Interest Income 4,000,000.00
MULTIPLY: GRT Rate 5% 200,000.00
Passed on GRT (More than 5 years)
Interest Income 6,400,000.00
MULTIPLY: GRT Rate 1% 64,000.00
Total
Requirement 3 Income
Dividends 800,000.00
Equity income 1,000,000.00
Rentals of property 4,000,000.00
Net Interest Income on Bank De 800,000.00
DIVIDE: Gross Up 80% 1,000,000.00

Net Interest Income on Bank De 425,000.00

DIVIDE: Gross Up 85% 500,000.00

Rentals of safety deposit boxes 300,000.00

Net Trading Gain 1,350,000.00
Interest on loans with remaining maturities of:
Not more than 5 years 4,000,000.00
More than 5 years 6,400,000.00
Total

Requirement 4
Manual
Filing October 25, 20A1
Payment October 25, 20A1

Requirement 5
EFPS
Filing October 25, 20A1
Payment October 25, 20A1

Requirement 6
Tax Return BIR FORM 2551Q
H8

Tax rate Gross receipts tax

0%
0%
7% 280,000.00

7% 70,000.00

7% 35,000.00

7% 21,000.00
7% 94,500.00

7% 280,000.00
7% 448,000.00
1,228,500.00

Tax rate Gross receipts tax

0%
0%
7% 280,000.00

7% 70,000.00

7% 35,000.00

7% 21,000.00
7% 94,500.00

7% 280,000.00
7% 448,000.00

7% 14,000.00

7% 4,480.00
1,246,980.00
Tax rate Gross receipts tax
5% 40,000.00
5% 50,000.00
5% 200,000.00

5% 50,000.00

5% 25,000.00

5% 15,000.00
5% 67,500.00

5% 200,000.00
1% 64,000.00
711,500.00
Requirement no. 1
Loan ₱100,000,000
Multiplied by: Interest rate 8%
Interest income ₱8,000,000
Multiplied by: GRT rate 1%
Gross receipts tax ₱80,000

Requirement no. 2
Original gross receipts tax
Year Remaining no. of years Tax base GRT rate
20A1 10.00 ₱8,000,000 1%
20A2 9.00 8,000,000.00 1%
20A3 8.00 8,000,000.00 1%
20A4 7.00 8,000,000.00 1%
20A5 6.00 8,000,000.00 1%
20A6 5.00 8,000,000.00 5%
20A7 4.00 8,000,000.00 5%
Total

Recomputed gross receipts tax

Year Remaining no. of years Tax base GRT rate
20A1 10.00 ₱8,000,000 1%
20A2 9.00 8,000,000.00 1%
20A3 8.00 8,000,000.00 5%
20A4 7.00 8,000,000.00 5%
20A5 6.00 8,000,000.00 5%
20A6 5.00 8,000,000.00 5%
20A7 4.00 8,000,000.00 5%
Total

Gross receipts tax due

GRT due from recomputation
Recomputed GRT ₱2,160,000
Original GRT -1,200,000.00 ₱960,000
GRT from pre-termination penalty
Pre-termination penalty ₱5,000,000
Multiplied by: GRT rate 7% 350,000.00
Total ₱1,310,000
Gross receipts tax
₱80,000
80,000.00
80,000.00
80,000.00
80,000.00
400,000.00
400,000.00
₱1,200,000

Gross receipts tax

₱80,000
80,000.00
400,000.00
400,000.00
400,000.00
400,000.00
400,000.00
₱2,160,000
Not yet checke

REQUIREMENT NO. 1
Professional Basketball Boxing without Filipino Contender Amusement Tax
Amount 2,000,000.00 2,500,000.00
Satellite Coverage 5,000,000.00 5,000,000.00
Advertising 2,000,000.00 2,000,000.00
Gross Receipts 9,000,000.00 9,500,000.00
Tax Rate 15.00% 10.00%
Tax 1,350,000.00 950,000.00 2,300,000.00

REQUIREMENT NO. 2
12% 0% Output Tax
Table Tennis 8,000,000.00
Volleyball 8,600,000.00
Tennis 8,400,000.00
Total 25,000,000.00 0.00
Tax Rate 12.00% 0.00%
Tax 3,000,000.00 0.00 3,000,000.00

REQUIREMENT 3 & 4 July 20, 20A1

REQUIREMENT 5 Tax Return: Form 2551Q

Table Tennis
Amount 1,000,000.00
Satellite Coverage 5,000,000.00
Advertising 2,000,000.00
Gross Receipts 8,000,000.00

Volleyball
Amount 1,600,000.00
Satellite Coverage 5,000,000.00
Advertising 2,000,000.00
Gross Receipts 8,600,000.00

Tennis
Amount 1,400,000.00
Satellite Coverage 5,000,000.00
Advertising 2,000,000.00
Gross Receipts 8,400,000.00
,

H12 Amusement Tax, Night and Day Clubs

Requirement 1
Gross receipts ###
Tax Rate 18%
Amusement Tax 1,800,000.00

Liable Party Mrs. Matibay

Requirement 2
Output Tax 5,000,000.00
Gross receipts 12% 600,000.00
Tax Rate
Input Tax
Purchases 2,000,000.00
Tax Rate 12% 240,000.00
VAT Payable 360,000.00

Liable Party Mr. Makisig

Requirements 3 - 5
TRAIN
Deadline for Filing: Manual Oct. 20, 20A1
EFPS Oct. 20, 20A1
Tax Return BIR Form 2551Q
not yet checked by miss
Requirement 1
from tickets sold 4,000,000.00
food and beverages 3,000,000.00
advertising posters 400,000.00
total gross receipts 7,400,000.00
rate 0.30
amusement tax 2,220,000.00

Requirement 2 & 3 Manual EFPS

Deadline for filing and payment April 20, 20A1 April 20, 20A1

Requirement 4 BIR form 2551Q

il 20, 20A1
 H14 - Tax on Winnings
already checked
approved by miss
1 SELLER POV WHEN MRS. BATIBOT PURCHASED
January April August
Price per share ₱20 ₱25 ₱22
Multiplied by: No. of shares 200,000 350,000 100,000
Gross amount ₱4,000,000 ₱8,750,000 ₱2,200,000
Multiplied by: STT rate 0.60% 0.60% 0.60%
Stock transaction tax ₱24,000 ₱52,500 ₱13,200

MRS. BATIBOT POV (SELLER)

June November
Price per share ₱26 ₱19
Multiplied by: No. of shares 175,000 375,000
Gross amount ₱4,550,000 ₱7,125,000
Multiplied by: STT rate 0.60% 0.60%
Stock transaction tax ₱27,300 ₱42,750

2 Capital Gains Tax

Price per share, December ₱24
Cost of shares (22)
Gain per share ₱2
Multiplied by: Remaining no. of shares 100,000
Capital gains ₱200,000
Multiplied by: CGT rate 15%
Capital gains tax ₱30,000

Donor's tax
Price per share ₱27
Market price of shares -24
Price per donated share ₱3
Multiplied by: Remaining no. of shares 100,000
Donation ₱300,000
5 banking
Exemption (250,000)
days after
Taxable excess collection and
₱50,000
to submit on
Multiplied by: Donor's tax rate Mondays of 6%
Donor's tax each week by
₱3,000
the broker

3 Deadline for filing and payment

4 Tax return BIR Form 2552
Number of shares ###
Price per share 5.00
Gross Amount ###
Tax rate 1%
Stock Transaction Tax 50,000.00

Corporate issuer shall file the return and pay the tax within 30 days form the date of listing

Tax return to be used is BOR Form 2552