RMC No. 65-2021 — Prescribes the guidelines in the filing of Quarterly Percentage Tax Return (BIR Form No. 2551Q) starting on the quarter ending July 31, 2020

BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTEKNAL REVENUE NNTYN

Quezon city CORDS MGI DIVISION MAY. 24 2027 CG 4:000m JU

April 20, 2021

ReVeNue MeMOranduM circular no. 05- 2021

SUBJECT Guidelines in the Filing of Quarterly Percentage Tax Return (BIR Form No. 2551Q) Starting on the Quarter Ending July 31, 2020

TO All Internal Reverue officers, Employees, and Others

Concerned

Quarterly Percentage Tax Return (BIR Form No. 2551Q),which tax rate has been decreased from 3% to 1% starting July 1, 2020 to June 30, 2023 pursuant to the passing of Republic Act (RA) No. 11534 also known as the "Corporate Recovery and Tax Incentives for Enterprises Act" (CREATE). This Circular is being issued to prescribe the Guidelines in the filing of

quarterly returns to reflect the excess percentage tax payment made and to be In view of the foregoing, taxpayers who are going to amend their filed

carried forward to the succeeding taxable quarter/s shall follow these:

1. Manual and_eBIRForm$ Filers/Users -

BIR Form Line Item and Description Remarks

2551Q January 2018 (ENCS) Credit/Payment Line 17 - Other Tax Percentage Tax (PT) Paid Specify in the space provided from Previous Quarter/s" the 'Carry-Over Excess

Tllustration:

percentage tax return for the 3rd and 4th quarters of 2020 as follows: Juan Dela Cruz, an eBIRForms filer/user, filed and paid his 3%

Particulars 3rd Quarter of 2020 4th Quarter of 2020

Percentage. Tax Paid Total Income/Receipts P 1,000,000.00 30,000.00 P 1,500,000.0 45,000.00

decided to amend his filed return for the 3rd and 4th quarters of 2020 to reflect the reduced 1% percentage tax rate. Since -the tax rate was reduced from 3% to 1%, Mr. Dela Cruz

Fa&e13

Amendment of 3rd 0uarter 2020

Mr. Dela Cruz shall reflect the following amount in the return:

14 Totai Tax Due (F Shedle Iem. Part ITotal Tax Payable

Less Tax CredivPayent (atsch prcf 15 Creditable Percentage Tax Withheld per BIR Form No.2387 0.00

16 Tax Paid in Retum Presiousty Filed, ithis is an Amended Return 30.000.0 17 Other Tax Credi Pament qecifn) 0.00 18TotaTaCredsPaymens mitms5t.} 19 TaxSti PayableOveramen) te14 les Item1)

Amendment of.4th Quarter 2020

the following amount in the return specifically the overpayment of P 20,000 from the amended 3rd quarter percentage tax return: In the amendrnent of 4th quarter of 2020, Mr. Dela Cruz shall reflect

14Ttal TaxDue FroS Part il - Totail Tax Payable

Less: TaxCredit/Payment rettech pmer

15 Creditble Percentage Tax Withheld per BIRForrn No.2307 0. 16 Tax Pad in Return Prevously Filed if this is an Am ended Return 45.00.00

18TotlTaCrecis/Paymens (Smf tems 15 te 17 17 Other Jax CrediPayment i sdity (Cay-Over Excess PT Paid rom Previous Quarteris 20.00.00

19) Tax Stl Payable(Overpayment) (tem 14 les item t8)

Filing.of 1st Quarter.of 2021

assuming his total receipts/incorne is P 500,000.00, he shall reflect the When Mr. Dela Cruz will file his 1st quarterly percentage tax return,

fully utilized. overpayrnent from the previous quarter in Item 17 until the amount is

14 Total Tax Due iFmr I rem? Part Il - Total Tax Payable

Less:Tax CredivPayment rattach proof

15 Creditable Percentage Tax Withhe'd per BIR Form No. 2307 0.00 16Tax Pdin e PryFi i an endd Ru

1 Total TaxCredit Fayments (Sum of (tems 15 to 17 17 Other Tax CreditFayment (specify), Cary-Over Excess PT Paid (rom Prewous Quarteris 50.00.C0

19 Tax Still PayablefOverpayment) rtem 14 le Iten 18: BUREAU OF INTEKNALREVENUE

tnttYyn

MR: 24 221 4:0p pMU

KECODS MGT.DIVISION 2

2. eFPS Filers/Users

2551 February 2002 (ENCS) BIR Form 20A Creditable Percentage Tax Form No. 2307 Withheld per BIR Line Item and Description Where the amount of Carry- will be reflected Over Excess Percentage Tax Paid from Previous Quarter/s Remarks

Illustration:

20A Creclitable Percentage Tax Withheld per BIR Form No. 2307. item to be used instead of Itern 17 Other Tax Credit/Payment is Item Sarme as the illustration in eBIRForms except that the account or

"To be issued a Tax Credit Certificate" which is presumed that the taxpayer To validate the return in eFPS and eBIRForms, filer shall mark the option

the said option was chosen. For manual filer, neither of the options "To be Refunded" or "To be Issued a Tax Credit Certificate" shall be marked in the said will carry over the overpaid tax to the succeeding taxable quarter/s once

tax return but rather write the phrase "To be Carried Over" on the return. The same procedure shall be undertaken, whether the return was filed manually or electronically, by the taxpayer subject to percentage tax until the overpaid amount has been fully utilized.

as possible. All concerned are hereby enjoined to give this Circular as wide a publicity

ma 0

CAESAR R.'DULAY Commissioner of Internal Revenue

H 043214

H-2 I mariam

BUREAU OF INTERNALREVENUE

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TUa MK 2422 4'00 0M H JU RFCORDS MGT.DIVISION

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