Percentage tax filing and other inquiries?

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  • Percentage tax filing and other inquiries?


Answer #1 | 22/06 2012 20:26
Since you are now under BMBE you should familiarize yourself with various regulations as a BMBE. Yes you are exempt from Income Tax but that does not mean that you will not file any return. Every quarter you are required to file a quarterly income tax return (1stQ to 3rdQ) just indicate in the return EXEMPT and file it in BIR. This is also true in filing the annual income tax return. But you still have to supply the relevant information in the return. I will be sending you BIR guidelines in order to help you. You are registered on June 19 are you required to file or pay percentage tax? Yes. Your next payment/filing will be next month July 20 for June 19-30 sales. If you are not yet operating meaning you don't have any sales yet you still have to file -0-.
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