This is for self-employed taxpayers with quarterly percentage tax on their COR. Updating is applicable in the initial quarter of the taxable year. If you opt for 8% income tax rate, tax dues will always be zero but you still have to file quarterly percentage tax return (2551q) unless you updated your COR.
Step 1 :
Fill out 2 copies of form 1905. Mark appropriate boxes with an "X".
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"others" was filled by the BIR |
Step 2 :
Submit the form together with your original COR. Tell the officer that you are opting for 8% income tax rate. They will give you a copy of the form you've submitted then wait for your updated COR.
Step 3 :
Receive your updated COR and that's it!
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If qualified and opted to avail of the 8% income tax rate, the filing of quarterly percentage tax return is not required for the current taxable year the option was made. |
Some say this step is not necessary but I decided to do it to avoid confusion in the future. Updating is free and easy anyway. If you have any questions, just let me know :)
Paano po malalaman sa COR ko na nka 8% flat rate na ako
ReplyDeletePa-update mo sa rdo mo. May idadagdag na note sa baba na you opted to 8%
DeleteI would like to thank you for the efforts you have made in writing this article. I am hoping the same best work from you in the future as well. Thanks
ReplyDeletetax return for self employed in London
Very Nice And Interesting Post, thank you for sharing
ReplyDeletetax return for self employed in London,,
panu kung once a month ang salary how to fill sa mga journal
ReplyDeletemonthly ang record.
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ReplyDeletetax return for self employed in London
Nakalagay po ba under Tax Type (s) ang 8% flat rate or nasa reminder/notes sa baba
ReplyDeleteAdded notes sya sa baba.
Delete