BIR Form 2551M: Monthly Percentage Tax Return

BIR Form 2551M PDF Details

The Bureau of Internal Revenue (BIR) requires specific groups of taxpayers in the Philippines to file BIR Form 2551M each month. This form has been in use since September 2005 and covers the monthly percentage tax obligation for non-VAT registered individuals and entities.

Who Must File BIR Form 2551M

Taxpayers whose annual gross sales or receipts do not exceed PHP 3,000,000 and who are not registered for VAT must file this form. The following groups are also required to submit BIR Form 2551M:

• Domestic carriers and keepers of garages
• Franchise holders of electric, gas, and water utilities
• Radio and television broadcasting companies with annual gross receipts not exceeding PHP 10,000,000
• Banks, non-bank financial intermediaries, and finance companies
• Life insurance companies and agents of foreign insurance companies
• Operators of overseas dispatch, message, or conversation services originating from the Philippines

Filing Deadline and Frequency

BIR Form 2551M must be filed and paid on or before the 20th day of the month following the taxable month. For example, the percentage tax for January is due by February 20. Taxpayers registered with the Electronic Filing and Payment System (eFPS) follow the same deadline. Late filing results in penalties, surcharges, and interest charges as specified in the National Internal Revenue Code.

Penalties for Non-Compliance

Failure to file BIR Form 2551M on time triggers a 25% surcharge on the unpaid tax amount. If the BIR determines that the failure was willful, the surcharge increases to 50%. Interest of 12% per annum is also imposed on the unpaid tax from the due date until full payment. A compromise penalty may apply depending on the circumstances. Taxpayers who repeatedly fail to file risk additional enforcement actions from the BIR.

Related BIR Tax Forms

Taxpayers who file BIR Form 2551M often need to submit other BIR documents alongside their monthly percentage tax return. BIR Form 0605 is used for payment of annual registration fees. Those who employ workers must also file BIR Form 1601-C for monthly withholding tax remittance. At the end of the fiscal year, the BIR Form 1701 serves as the annual income tax return for self-employed individuals and professionals. Employers issue BIR Form 2316 as the certificate of compensation payment and tax withheld to their employees.