Category: Tax Compliance

July 2019 BIR Tax Calendar Compliance

George Mikhail Aurelio

Calendar

Check in your BIR Certificate of Registration on what taxes you are required to file.

BIR Forms

  1. July 5, 2019 –   BIR Form 2000 Documentary Stamp Tax Declaration
  2. July 10, 2019 – BIR Form 1601-C Monthly Remittance Return of Income Taxes Withheld on Compensation
  3. July 10, 2019 – BIR Form 0619-F Monthly Remittance Form for Final Income Taxes Withheld
  4. July 25, 2019 – BIR Form 2550Q Quarterly Value-Added Tax Return
  5. July 30, 2019 – BIR Form 1601EQ Quarterly Remittance Return of Creditable Income Taxes Withheld (Expanded)

Other compliance required by the BIR

  1. 2nd Quarter 2019: Online submission of Summary List of Sales and Purchase (VAT Relief).
  2. 2nd Quarter 2019: Online submission of Quarterly Alphalist of Payees.

Freelancers and Professionals Tax Planning

George Mikhail Aurelio

 

 

 

If you are a Freelancer or a Professional whose annual income is less than P3,000,000. You should be aware of this new Tax Law.

One of the highlights in the new Tax Law under the Tax Reform for Acceleration and Inclusion (TRAIN) is the ease of compliance of Self-Employed Individuals and Professionals. Under the old law, you file your monthly income/sales using the BIR Form – 2551M (Monthly Percentage Tax Return). Under the TRAIN. No more filing of BIR Form – 2551M. Instead, you have to file BIR Form – 2551Q (Quarterly Percentage Tax Return).

IMPORTANT.

As a Freelancer and Professional, you have two options:

Option A

File  Quartelry:

– BIR Form 2551Q

– BIR Form 1701Q Quarterly (Quarterly Income Tax Return).

OR

Option B

File 1701Q Only – 8% Tax on gross sales or gross receipts and other non-operating income in excess of Two hundred fifty thousand pesos (P250,000).

Take note that your option on the first quarter will be irreversible for the taxable year. You have to make sure that you will choose the option where  you save more.

 

No time for tax compliance? We can help you! We have a special rate for Freelancers and Professionals. Request for proposal.

 

 

Disclaimer: All data and information provided on this site is for informational purposes only. The writer makes no representations as to accuracy, completeness, suitability, or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis.

How To Pay Your Tax Using Globe GCash

George Mikhail Aurelio

Globe GCash Tax Payment

No time to visit your bank to pay your taxes? Use your smartphone via Globe GCash Application. Paying your taxes via Globe GCash is very convenient and easy to do. Please be cautious in filling up the needed data, as it is easy to commit errors if done hastily.

Steps in paying your tax via Globe GCash Application:

Download the GCash Application in Google Play Store or Apple App Store.

Assume the following data for presentation purposes only:

1. Non-VAT Taxpayer
2. Quarterly Percentage Tax Return - BIR Form 2551Q
3. Taxable Period: January 2018 - March 2018
4. Gross Receipts / Income - P150.000
5. Tax Due: P4,500.00 (3% x P150,000)
6. TIN: 123-456-789-000

1. On your Globe GCash App choose Pay Bills > Government > BIR

Globe GCash Tax Payment 5

2. Form Series > 2500 (Percentage Tax and VAT)

Globe GCash Tax Payment Form Series

3. Form Number > 2551Q

Globe GCash Tax Payment Form Number

4. Tax Type > PT

Globe Gcash BIR PT

5. Return Period > March 31, 2018 (Important, double check before confirming)

Globe Gcash BIR Date

6. Branch Code, for an individual taxpayer with no other business/branch put five zero (00000)

7. Amount (Important, double check before confirming)

8. Select Next

Before confirming , double check all the data.

8. Do not exit. Save the payment reference in your phone gallery. Check the upper portion for the option to save in your gallery.

Make a backup copy of your payment reference for your future reference.

GCASH BIR 

You will receive a text message for your Payment Reference. Make a backup copy for future reference. You can request your previous transactions in your GCash. It will be emailed to you in PDF form. Make a backup copy for future reference.

The above example is only for Quarterly Percentage Tax Return – BIR Form 2551Q. You can also use the Globe GCash Application to pay the following Tax Returns:

Globe GCash Tax Payment Form Series

Note: Pay only your tax after you’re done in filing it online via eBIRForms.

Also, If you are a Freelancer or a Professional whose annual income is less than P3,000,000. You should be aware of this new Tax Law.

Other References:

PAYING BIR TAXES THROUGH MOBILE MONEY: FREQUENTLY ASKED QUESTIONS (FAQs) FOR TAXPAYERS – Knowyourtaxes.ph

Thank you for reading!

You may reach out to me on Facebook if you have an urgent question about paying your tax via GCash

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Disclaimer: All data and information provided on this site is for informational purposes only. The writer makes no representations as to accuracy, completeness, suitability, or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis.

2 Ways to File and Pay Your Taxes in The Philippines

George Mikhail Aurelio

After you are done in the registration of  your business in the Bureau of Internal Revenue (BIR), your next dilemma is how to file and pay your taxes. You have 2 ways to file and pay your taxes in the Philippines. The first is via eFiling and Payment System (eFPS) and the second is via eBIRForms.

eFPS BIR
eFPS

eFPS: As its name suggests, its main feature is an online filing and payment system. You need an internet connection in using the eFPS. The online payment feature of eFPS, makes it more convenient than eBIRForms.

The following taxpayers are required to use eFPS:
– Large Taxpayers
– Top Twenty Thousand (20,000) Private Corporations
– Local Government Units
– Government Bidders
– Bank Borrowers
– Stock Brokers
– Corporations with Paid-Up Capital Stock of P10 Million Pesos and above
– Taxpayers with Computerized Accounting System (CAS)
– Enterprises Enjoying Fiscal Incentives (i.e. PEZA, BOI Certified, etc.)
– Top Five Thousand (5,000) Individuals
– National Government Agencies

Lately the BIR refuse to accept eFPS application who is not included in the list of taxpayers above. If you want to register in eFPS, you may still try to contact the BIR Revenue District Office (RDO) in your area.

eBIRForms
eBIRForms v6.2

eBIRForms: A software that allows taxpayers to fill up tax forms even without an internet connection. You need an internet connection to file it online. As you have noticed, eFPS and eBIRForms can both file tax forms online. The big difference is in the payment step. In eBIRForms you have to print the tax forms and pay it to the Authorized Agent Bank (AAB) assigned in your RDO.

Tax returns that you filed via eBIRForms can also be paid via Globe GCash Application (See link for reference).

Disclaimer: All data and information provided on this site is for informational purposes only. The writer makes no representations as to accuracy, completeness, suitability, or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis.