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