Guide for TNVS Operators

 Guide for Taxpayers whose line of business is Land Transport Service

with Certificate of Public Convenience (CPC)

Granted by LTFRB

Examples: Jeepney, Bus, Taxi, TNVS with CPC

ATC - PT 040 

Common Carrier Tax

Tax Rate 3%

Schedules to Remember

Quarterly Percentage Tax for the year 2024

BIR Form 2551Qv2018

Firsrt Quarter (January 1 to March 31) - April 25, 2024

https://youtu.be/79wjrV8nrZc

Second Quarter (April 1 to June 30) - July 25, 2024

https://youtu.be/7gZV1bJryx4

Third Quarter (July 1 to September 30) - October 25, 2024

https://youtu.be/IVmkeIVJZjs

Fourth Quarter (October 2 to December 31) - January 25, 2025

Quarterly Income Tax Return (BIR Form 1701Qv2018)

Choose Graduated Rates

Method of Deduction: Choose between 40% OSD and Itemized Deductions

Videos for 40% OSD-

INCOME TAX GRADUATED RATES- OSD: https://www.youtube.com/playlist?list=PLhv2d659sAa-vWCIscgfyNNiyUFZMOoFz

Videos for Itemized Deductions-

INCOME TAX GRADUATED RATES- ITEMIZED DEDUCTION: https://www.youtube.com/playlist?list=PLhv2d659sAa9G_GAkmgZ6thWzPNSTZlAC

Deadlines:

First Quarter 1701Q - May 15, 2024

Second Quarter 1701Q - August 15, 2024

Third Quarter 1701Q - November 15, 2024

Take Note: No Fourth Quarter

Annual Income Tax (Form 1701/1701A)

Option No 1: Use Form 1701A if you choose OSD

Graduated Rates -OSD 

Just input the amount of Total Gross Receipts for the whole year

https://youtu.be/MbKgnqszJEw

Option No 2: Use BIR Form 1701v2018 if you choose Itemized Deductions

https://youtu.be/5DTRIGR2RF4

BIR RMC 70-2015

https://drive.google.com/file/d/1gFa3Q5wqwfHCd2nJbkDpS609XE6zlWjP/view?usp=drivesdk

Guide for Submission of Inventory List to BIR

Guide for Submission of Inventory List for the taxable year 2024

Deadline: January 30, 2024

BIR Issuances:

RMC 57-2015R and RMC 8-2023

RMC 57-2015

https://drive.google.com/file/d/1eAsIrscTYavOtmey-nzrXKIeHyHCUjVb/view?usp=drivesdk

RMC 8-2023

https://drive.google.com/file/d/1wunItQsUFVLa8XmDeScNRl74Cz6LoYVG/view?usp=drivesdk

PRESCRIBED FORMAT

RMC No 8-2023

ANNEX A-C

(Download copy)

https://docs.google.com/spreadsheets/d/1Tp7MtEq6A3JzkN6CzWkjZ8MSN87SCeQD/edit?usp=drivesdk&ouid=111050182241871977231&rtpof=true&sd=true

SWORN STATEMENT

RMC 8-2023/RMC 57-2015

ANNEX D

https://docs.google.com/document/d/1iuGGE76NcgBfCBjB8JCr7t42PQ5vlLgM/edit?usp=drivesdk&ouid=111050182241871977231&rtpof=true&sd=true

SAMPLE INVENTORY LIST 2023

https://docs.google.com/spreadsheets/d/16pkiNZTIve51zCSgIz_2qkgrJW_61yG3/edit?usp=drivesdk&ouid=111050182241871977231&rtpof=true&sd=true

Youtube video:

https://youtu.be/5XeXCVAOPbw

Guide for BIR Form 2307

 Guide on What to do with your BIR Form 2307 that you received from various withholding agents

Step 1: Download Alphalist Data Entry and Validation Module 7.3 from BIR Website and create Summary Alphalist of Withholding Taxes (SAWT)

https://www.facebook.com/share/v/fRt9vCi9usnhnxde/?mibextid=qi2Omg

Step 2: Register to AFS eSubmission

https://youtu.be/5xMTCJRebIQ

Step 3:  Submit to AFS eSubmission

https://youtu.be/Nmlzoc0ILqw

If you want to avail my One-on-One Tutorial, book your appointment here:

https://calendar.app.google/PS2psjnEjh8JbmVK9

Guide for BMBE Registered Taxpayers

Guide for BMBE Registered Taxpayers 
Non-VAT
Gross Annual Sales 3Million and below

Tax Types:
Percentage Tax and Individual Income Tax

Quarterly Percentage Tax for the year 2024
BIR Form 2551Qv2018
ATC PT010   Vat Exempt  3%

First Quarter (January 1 to March 31) - 

Deadline of Filing and Payment: April 25, 2024
Click to watch tutorial video

Second Quarter (April to June) 
Deadline of Filing and Payment: July 25, 2024
Click to watch tutorial video

Third Quarter (Jul to Sep)
Deadline of Filing and Payment: October 25, 2024
Click to watch tutorial video

Fourth Quarter (Oct to Dec) 
Deadline of Filing and Payment: January 25, 2025
Click to watch tutorial video

Annual Income Tax Return

BIR Form 1701v2018

January to December 2024:

Deadline of Filing and Payment: April 15, 2025

Click to watch tutorial video

Other Compliance Requirements:

Must keep Books of Accounts and other accounting records.

Must prepare Annual Financial Statements as attachment to ITR.

Must submit Income Tax Return with Attachments to RDO or 

thru Electronic Audited Financial Statements (eAFS) portal of BIR.

Must submit Inventory List - Deadline of Submission: Jan. 30, 2025

How to Avail 8% Income Tax Rate thru ORUS

    Guide for self-employed individual taxpayers on how to avail the     8% Income Tax Rate Option thru ORUS Online Registration and         Update System

     Log in to your ORUS Account

     Click Secondary Registration

        

    Click Correction/Change/Update of Information

    Choose Head Office or Branch

    Click Validate

  

     Information to Update

     Tick Avail 8% Income Tax Rate Option

         Click Ok

   

       Agree to all terms and conditions

  

    Congratulations!

Guide for Taxpayers who availed 8% Income Tax Rate thru ORUS Online Registration and Update System

Tax Types

Quarterly Income Tax BIR Form 1701Q

Annual Income Tax BIR Form 1701A

Quarterly Income Tax for the year 2024

BIR Form 1701Q

First Quarter (January to March, 2024) - deadline May 15, 2024

https://youtu.be/YVtTfxcmA84

(Sample just change the year to 2024)

Second Quarter (April to June) - deadline August 15, 2024

https://youtu.be/hlhKJdPIq9o

Third Quarter (July to September) - deadline November 15, 2024

https://youtu.be/HXIvPZJRCsw

No Fourth Quarter 1701Q

Annual Income Tax Return

Bir Form 1701A

January 1 to December 31, 2024 - deadline April 15, 2025

Sample Video  Annual Income Tax for the year 2023:

https://youtu.be/Fv-X2qgbCAA

Guide for TNVS without CPC

Guide for Taxpayers whose line of business is TNVS without Certificate of Public Convenience (CPC)

Choose your Tax Regime

1) 3% Percentage Tax and Graduated Income Tax Rate on Net Taxable Income

 For Sales 3M and below 3% Percentage Tax.

For Sales above 3M, 12% VAT (must change registration to VAT)

2) 8% Income Tax Rate in lieu of Percentage Tax and Graduated Income Tax

Applicable for Gross Sales 3M and below only

For Self-employed individuals and Mixed Income Earner

Please watch this video.

https://youtu.be/J5GZ4lSHZAM

Percentage Tax Deadline 

Quarterly Percentage Tax for the year 2024

BIR Form 2551Qv2018

Firsrt Quarter (Jan to Mar) - April 25, 2024

ATC PT010 3%

https://youtu.be/BEwUz9ZS2G4

Second Quarter (Apr to Jun) - July 25, 2024

Third Quarter (Jul to Sep) - October 25, 2024

Fourth Quarter (Oct to Dec) - January 25, 2025

Quarterly Income Tax Return (BIR Form 1701Qv2018)

Choose Graduated Rates

Method of Deduction: Choose between 40% OSD and Itemized Deductions

Videos for 40% OSD-

INCOME TAX GRADUATED RATES- OSD: https://www.youtube.com/playlist?list=PLhv2d659sAa-vWCIscgfyNNiyUFZMOoFz

Videos for Itemized Deductions-

INCOME TAX GRADUATED RATES- ITEMIZED DEDUCTION: https://www.youtube.com/playlist?list=PLhv2d659sAa9G_GAkmgZ6thWzPNSTZlAC

Deadlines:

First Quarter 1701Q - May 15, 2024

Second Quarter 1701Q - August 15, 2024

Third Quarter 1701Q - November 15, 2024

Take Note: No Fourth Quarter

Annual Income Tax (Form 1701/1701A)

Option No 1: Use Form 1701A if you choose OSD

Graduated Rates -OSD 

Just input the amount of Total Gross Receipts for the whole year

https://youtu.be/MbKgnqszJEw

Option No 2: Use BIR Form 1701v2018 if you choose Itemized Deductions

https://youtu.be/5DTRIGR2RF4

Guide if you choose 8%

How to Avail 8% using BIR Form 2551Qv2018?

On Line No 13, Choose 8%  income tax rate on gross sales/receipts/others

Quarterly Percentage Tax for the year 2024

BIR Form 2551Q

Firsrt Quarter (Jan to Mar) - April 25, 2024

https://youtu.be/J5GZ4lSHZAM

Income Tax Deadline 

For Taxpayers who opted 8% Income Tax Rate

Quarterly Income Tax for the year 2024

BIR Form 1701Q

First Quarter (January to March, 2024) - deadline May 15, 2024

https://youtu.be/J5GZ4lSHZAM

Still editing video for filing.

Second Quarter (Apr to Jun) - deadline August 15, 2024

https://youtu.be/hlhKJdPIq9o

Third Quarter (Jul to Sep) - deadline November 15, 2024

https://youtu.be/HXIvPZJRCsw

No Fourth Quarter 1701Q

Annual Income Tax Return

Bir Form 1701A

Jan to Dec, 2024 - deadline April 15, 2025

Sample Video for the year 2023:

https://youtu.be/Fv-X2qgbCAA

Guide for Taxpayers with Tax Types Percentage Tax and Income Tax

Guide for Taxpayers with Tax Types Percentage Tax and Income Tax

For Taxable Year January 1 to December 31, 2024

Quarterly Percentage Tax for the year 2024

BIR Form 2551Qv2018

First Quarter (Jan to Mar) - April 25, 2024

https://youtu.be/BEwUz9ZS2G4

 

Second Quarter (Apr to Jun) - July 25, 2024

https://youtu.be/7JBEzcAdjL0

Third Quarter (Jul to Sep) - October 25, 2024

https://youtu.be/6bBh4ex8kg0

https://youtu.be/6bBh4ex8kg0

Fourth Quarter (Oct to Dec) - January 25, 2025

https://youtu.be/X5KgfqQfpDA

ATC PT010   Vat Exempt Tax Rate  3%

Income Tax Deadline 

Quarterly Income Tax for the year 2024

BIR Form 1701Qv2018

First Quarter (Jan to Mar) - May 15, 2024

Taxpayer must choose between Two Methods of Deduction:

1) Optional Standard Deduction

Video Playlist Graduated Rates- OSD

2) Itemized Deduction

Video Playlist Graduated Rates- Itemized Deduction

Second Quarter (Apr to Jun) - August 15, 2024

Third Quarter (Jul to Sep) - November 15, 2024

No Fourth Quarter 1701Q

Annual Income Tax Return

BIR Form 1701v2018 for Itemized Deductions

https://youtu.be/5DTRIGR2RF4

BIR Form 1701A for OSD

https://youtu.be/jefv9CiHQ9A

January 1 to December 31,  2024 - deadline April 15, 2025

You may avail my One-on-One Tutorial Service

Fee: Php 1000

Duration: 2 hours

Online Google Meet

Please book your appointment here:

https://calendar.app.google/wVQvrY49QL9ESb2y7

Guide for 8% Income Tax Rate

Guide for Taxpayers who availed 8% Income Tax Rate upon Registration to the Bureau of Internal Revenue

Tax Types

Quarterly Income Tax BIR Form 1701Q

Annual Income Tax BIR Form 1701A

Quarterly Income Tax for the year 2024

BIR Form 1701Q

First Quarter (January 1 to March 31, 2024)

Deadline of Filing and Payment: May 15, 2024

(Sample Video 2023 - Just change the year to 2024)

Sample Video 

BIR Form 1701Q

Quarterly Income Tax Return

with Tax Credits BIR Form 2307

Second Quarter (April to June) - deadline August 15, 2024

BIR Form 1701Q Second Quarter 2023

Third Quarter (July to September) - deadline November 15, 2024

BIR Form 1701Q Third Quarter 2023

No Fourth Quarter 1701Q

Annual Income Tax Return

Bir Form 1701A

January 1 to December 31, 2024 - deadline April 15, 2025

Sample Video  Annual Income Tax for the year 2023:

BIR Form 1701A For the Year 2023

To avail of my One-on-One Tutorial, just book an appointment here:

Appointment