BIR Form 2551M PDF Details

In navigating the complexities of tax compliance, the BIR Form 2551M stands out as an essential document for numerous taxpayers in the Philippines. Mandated for use since September 2005, this monthly percentage tax return caters to individuals and entities whose annual sales or receipts don't surpass the PHP 1,500,000 threshold, effectively exempting them from VAT obligations. It's also the go-to form for a diverse group including domestic carriers, franchise holders of gas and water utilities, broadcasting companies with limited annual gross receipts, financial entities, and insurance firms among others. With stringent deadlines necessitating submission by the 20th day following each month’s end, the form encapsulates detailed taxpayer information, transaction specifics, tax computations, and a section for tax credits and payments. It intricately details the penalties for various compliance failures, ranging from surcharges to interest on overdue payments, underscoring the importance of accuracy and timeliness in filing. Furthermore, it specifies the unique requirements for different filers, including amendments for return submissions, attachment necessities, and the procedural aspects for both manual and electronic submissions. Through this form, the Bureau of Internal Revenue (BIR) ensures a structured approach to collecting taxes that fund public services and projects, making it a critical component of the national financial ecosystem.

QuestionAnswer
Form Name BIR Form 2551M
Form Length 3 pages
Fillable? No
Fillable fields 0
Avg. time to fill out 45 sec
Other names 2551m deadline 2021, bir 2551m, bir 2551q form, 2551m

Form Preview Example

(To be filled up by the BIR)

DLN:

PSIC:

Republika ng Pilipinas

Kagawaran ng Pananalapi

Kawanihan ng Rentas Internas

Monthly Percentage

BIR Form No.

2551M

Tax Return

 

September 2005 (ENCS)

Fill in all applicable spaces. Mark all appropriate boxes with an “X”.

1

For the

 

 

 

 

Calendar

 

 

Fiscal

 

 

3 For the month

 

 

 

 

 

 

 

 

 

 

4 Amended Return

 

 

5 Number of sheets attached

2

Year ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(MM/YYYY)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(MM/YYYY)

 

 

 

 

 

 

 

 

 

 

 

 

 

Yes

 

No

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Part I

 

 

 

 

 

 

 

 

 

 

 

 

 

B a c k g r o u n d

I n f o r m a t i o n

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6

TIN

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7 RDO Code

 

 

 

 

 

 

8 Line of Business/

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Occupation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9

Taxpayer's Name (For Individual)Last Name, First Name, Middle Name/(For Non-individual) Registered Name

10

Telephone Number

11

Registered Address

12

Zip Code

13Are you availing of tax relief under Special Law

or International Tax Treaty?

 

Yes

 

 

No

If yes, specify

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Part II

 

 

C o m p u t a t i o n

o f T a x

 

 

 

 

 

 

 

 

 

 

 

 

Taxable Transaction/

A T C

 

 

Taxable Amount

Tax Rate

Tax Due

Industry Classification

 

 

 

 

 

 

 

 

 

14A 14B

15A 15B

16A 16B

17A 17B

18A 18B

19Total Tax Due

20Less: Tax Credits/Payments

14C

15C

16C

17C

18C

14D

15D

16D

17D

18D

14E

15E

16E

17E18E

19

 

20A Creditable Percentage Tax Withheld Per BIR Form No. 2307 (See Schedule 1)

 

20A

 

 

20B Tax Paid in Return Previously Filed, if this is an Amended Return

 

 

 

 

 

 

 

 

20B

 

21

Total Tax Credits/Payments (Sum of

Items 20A

& 20B)

 

 

21

 

 

 

 

22

Tax Payable (Overpayment) (Item 19 less Item 21)

 

 

 

 

22

 

 

 

 

 

 

23

Add: Penalties

Surcharge

 

 

 

 

Interest

 

 

Compromise

 

23A

 

 

 

 

23B

 

 

23C

 

 

23D

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

24

Total Amount Payable/(Overpayment) (Sum of Items

22 and 23D)

 

 

24

 

 

 

 

 

If overpayment, mark one box only:

 

 

 

To be Refunded

 

To be issued a Tax Credit Certificate

 

 

 

 

 

 

 

 

 

 

I declare, under the penalties of perjury, that this return has been made in good faith, verified by me, and to the best of my knowledge, and belief, is true and correct, pursuant to the provisions of the National Internal Revenue Code, as amended, and the regulations issued under authority thereof.

25

 

 

 

 

26

 

 

 

 

President/Vice President/Principal Officer/Accredited Tax Agent/

 

 

 

Treasurer/Assistant Treasurer

 

 

Authorized Representative/Taxpayer

 

 

 

(Signature Over Printed Name)

 

 

(Signature Over Printed Name)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Title/Position of Signatory

 

 

TIN of Signatory

 

 

Title/Position of Signatory

 

Tax Agent Acc. No./Atty's Roll No.(if applicable)

Date of Issuance

Date of Expiry

 

TIN of Signatory

Part III

 

 

Details of Payment

 

 

 

 

 

Drawee Bank/

 

 

 

Date

 

 

Stamp of

Particulars

Agency

Number

MM

DD

YYYY

Amount

Receiving Office/AAB

27 Cash/Bank 27A

27B

 

 

27C

 

 

27D

and Date of Receipt

 

Debit Memo

 

 

 

 

 

 

 

(RO's Signature/

28

Check 28A

28B

 

 

28C

 

 

28D

Bank Teller's Initial)

29

Tax Debit

29A

 

 

29B

 

 

29C

 

 

Memo

 

 

 

 

 

 

 

 

30

Others 30A

30B

 

 

30C

 

 

30D

 

 

 

 

 

 

 

 

 

Machine Validation/Revenue Official Receipt Details (If not filed with an Authorized Agent Bank)

BIR FORM 2551M (ENCS)-PAGE 2

Schedule 1

 

Tax Withheld Claimed as Tax Credit

 

 

 

 

Period Covered

 

Name of Withholding Agent

 

 

 

Income Payments

 

Tax Withheld

 

Applied

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total (To Item 20A)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ALPHANUMERIC TAX CODE (ATC)

 

 

 

 

ATC

 

 

Percentage Tax On:

Tax Rate

 

 

 

ATC

 

 

 

Percentage Tax On:

Tax Rate

PT

010

Persons exempt from VAT under Sec. 109v (Sec. 116)

3%

 

 

 

 

PT 103

3) On royalties, rentals of property, real or personal, profits

7%

PT

040

Domestic carriers and keepers of garages

3%

 

 

 

 

 

 

 

from exchange and all other gross income

 

PT

041

International Carriers

 

3%

 

 

 

 

PT 104

4) On net trading gains within the taxable year on foreign currency,

PT

060

Franchises on gas and water utilities

 

2%

 

 

 

 

 

 

 

debt securities, derivatives, and other financial instruments

7%

PT

070

Franchises on radio/TV broadcasting companies whose

 

Tax on Other

Non-Bank Financial Intermediaries not performing quasi-banking functions

 

 

annual gross receipts

do not exceed P 10 M

3%

 

 

 

 

 

 

1) On interest, commissions and discounts from lending activities

Tax on banks and non-bank financial intermediaries performing quasi

 

 

 

 

 

 

 

 

 

as well as income from financial leasing, on the basis of remaining

 

banking functions

 

 

 

 

 

 

 

 

 

 

 

maturities of instruments from which such receipts are derived

 

 

1) On interest, commissions and discounts from lending

 

 

 

PT 113

 

 

Maturity period is five (5) years or less

5%

 

 

activities as well as income from financial leasing, on

 

 

 

PT 114

 

 

Maturity period is more than five (5) years

1%

 

 

the basis of remaining maturities of instruments from

 

 

 

PT 115

2) From all other items treated as gross income under the code

5%

 

 

which such receipts are derived

 

 

 

 

 

 

PT 120 Life Insurance premium

5%

PT 105

Maturity period is five (5) years or less

5%

 

 

Agents of Foreign Insurance Companies

 

PT 101

Maturity period is more than five (5) years

1%

 

 

 

 

PT 130

 

a) Insurance Agents

10%

PT 102

2) On dividends and equity shares and net income of

 

 

 

 

 

 

PT 132

 

b) Owners of property obtaining insurance directly

 

 

 

subsidiaries

 

0%

 

 

 

 

 

 

 

 

with foreign insurance companies

5%

BIR Form No. 2551M Percentage Tax Return

Guidelines and Instructions

Who Shall File

This return shall be filed in triplicate by the following:

1.Persons whose gross annual sales and/or receipts do not exceed P1,500,000 and who are not VAT-registered persons.

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

3.Operators of international air and shipping carriers doing business in the Philippines.

4.Franchise grantees of gas or water utilities.

5. Franchise grantees of radio and/or television broadcasting companies whose gross annual receipts of the preceding year do not exceed Ten Million Pesos (P10,000,000.00) and did not opt to register as VAT taxpayers.

6.Banks, non-bank financial intermediaries and finance companies.

7.Life insurance companies.

8.Agents of foreign insurance companies.

When and Where to File

The return shall be filed not later than the 20th day following the end of each month. Any person retiring from a business subject to percentage taxes shall notify the nearest Revenue District Office, file his return and pay the tax due thereon within twenty (20) days after closing his business.

The return shall be filed with any Authorized Agent Bank (AAB) within the territorial jurisdiction of the Revenue District Office where the taxpayer is required to register/conducting business. In places where there are no AABs, the return shall be filed with the Revenue Collection Officer or duly Authorized City or Municipal Treasurer within the Revenue District Office where the taxpayer is required to register/conducting business.

A taxpayer may, at his option, file a separate return for the head office and for each branch or place of business or a consolidated return for the head office and all the branches except in the case of large taxpayers where only one consolidated return is required.

When and Where to Pay

Upon filing this return, the total amount payable shall be paid to the Authorized Agent Bank (AAB) where the return is filed. In places where there are no AABs, payment shall be made directly to the Revenue Collection Officer or duly Authorized City or Municipal Treasurer who shall issue a Revenue Official Receipt BIR Form No. 2524) therefor.

Where the return is filed with an AAB, taxpayer must accomplish and submit BIR-prescribed deposit slip, which the bank teller shall machine validate as evidence that payment was received by the AAB. The AAB receiving the tax return shall stamp mark the word “Received” on the return and also machine validate the return as proof of filing the return and payment of the tax by the taxpayer, respectively. The machine validation shall reflect the date of payment, amount paid and transactions code, the name of the bank, branch code, teller’s code and teller’s initial. Bank debit memo number and date should be indicated in the return for taxpayers paying under the bank debit system.

For Electronic Filing and Payment System (EFPS) Taxpayer

The deadline for electronically filing and paying the taxes due thereon shall be in accordance with the provisions of existing applicable revenue issuances.

Basis of Tax

The tax is based on gross sales, receipts or earnings except on insurance companies where the basis of tax is the total premium collected/paid.

"Gross receipts" means all amounts received by the prime or principal contractor, undiminished by any amount paid to any subcontractor under a subcontract arrangement.

Penalties

There shall be imposed and collected as part of the tax:

1.A surcharge of twenty five percent (25%) for each of the following violations:

a.Failure to file any return and pay the amount of tax or installment due on or before the due date;

b.Unless otherwise authorized by the Commissioner, filing a return with a person or office other than those with whom it is required to be filed;

c.Failure to pay the full or part of the amount of tax shown on the return, or the full amount of tax due for which no return is required to be filed on or before the due date;

d.Failure to pay the deficiency tax within the time prescribed for its payment in the notice of assessment.

2.A surcharge of fifty percent (50%) of the tax or of the deficiency tax, in case any payment has been made on the basis of such return before the discovery of the falsity or fraud, for each of the following violations:

a.Willful neglect to file the return within the period prescribed by the Code or by rules and regulations; or

b.In case a false or fraudulent return is willfully made.

3.Interest at the rate of twenty percent (20%) per annum, or such higher rate as may be prescribed by rules and regulations, on any unpaid amount of tax from the date prescribed for the payment until the amount is fully paid.

4.Compromise penalty.

Attachments Required

1.Certificate of Creditable Tax Withheld at Source, if applicable;

2.Duly approved Tax Debit Memo, if applicable;

3.For amended return, proof of the payment and the return previously filed;

4.All returns filed by an authorized representative must attach authorization letter.

Note: All background information must be properly filled up.

∙All returns filed by an accredited tax representative on behalf of a taxpayer shall bear the following information:

A.For CPAs and others (individual practitioners and members of GPPs); a.1 Taxpayer Identification Number (TIN); and

a.2 Certificate of Accreditation Number, Date of Issuance, and Date of Expiry.

B.For members of the Philippine Bar (individual practitioners, members of GPPs):

b.1 Taxpayer Identification Number (TIN); and

b.2 Attorney’s Roll Number or Accreditation Number, if any.

∙Nos. 1, 2 and 3 of this form refer to transaction period and not the date of filing this return.

∙The last 3 digits of the 12-digit TIN refers to the branch code.

∙TIN = Taxpayer Identification Number

ENCS 2551M

How to Edit BIR Form 2551M Online for Free

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As a way to finalize this PDF form, make certain you provide the required details in every field:

1. It is very important fill out the monthly tax bir correctly, therefore pay close attention while working with the parts comprising these fields:

2551m writing process explained (step 1)

2. The third step is usually to submit the next few blank fields: Total Tax Due , Less Tax CreditsPayments, Creditable Percentage Tax Withheld, Tax Paid in Return Previously, Total Tax CreditsPayments Sum of, Tax Payable Overpayment Item , Surcharge, Add Penalties A, Interest, Compromise, Total Amount PayableOverpayment, If overpayment mark one box only, To be Refunded, To be issued a Tax Credit, and I declare under the penalties of.

Compromise, Tax Paid in Return Previously, and Total Tax CreditsPayments Sum of in 2551m

3. Completing Receiving OfficeAAB, and Date of Receipt, ROs Signature, Bank Tellers Initial, Particulars Agency, Number, MM DD YYYY, Amount, CashBank A, Debit Memo, Check A, Tax Debit, Memo, Others A, and Machine ValidationRevenue Official is essential for the next step, make sure to fill them out in their entirety. Don't miss any details!

Completing segment 3 of 2551m

4. To go onward, this fourth part will require typing in a few blank fields. Examples of these are Period Covered, Name of Withholding Agent, Income Payments, Tax Withheld, Applied, Total To Item A, Tax Rate, ATC PT On royalties rentals of, Percentage Tax On, Tax Rate, from exchange and all other gross, PT On net trading gains within, debt securities derivatives and, Percentage Tax On, and ALPHANUMERIC TAX CODE ATC ATC PT , which are vital to going forward with this particular document.

2551m completion process detailed (portion 4)

Be extremely careful while filling in Period Covered and Tax Withheld, because this is the section where most people make errors.

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