
Know your taxes: 2551Q
What is 2551Q? BIR Form 2551Q is also known as the Quarterly Percentage Tax Return form. Who should file 2551Q? Non-VAT registered individuals or non-individuals “who sell goods, properties or services, whose annual gross sales and/or receipts do not exceed three million pesos (Php3,000,000.00) and are exempt from value-added tax (VAT) under Section 109 (BB) of the National Internal Revenue Code, as amended by Republic Act (RA) No. 10963” and others. When is the deadline of 2551Q? Form 2551Q is due within 25 days after the close of the taxable quarter. How do you prepare 2551Q? Fill out all the necessary fields on the form, making sure all values and data are correct. For fields with options, place an X mark right next to the applicable choice.To make form preparation…