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SUBMISSION OF MONTHLY INCOME TAX RETURN

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SUBMISSION OF MONTHLY INCOME TAX RETURN

Post by shark on Thu Aug 23, 2012 10:24 am

Good day!

I would to inquire if contractors are also required to submit Monthly Income Tax Returns (for the last six months) for infrastructure projects.

THank You.
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Re: SUBMISSION OF MONTHLY INCOME TAX RETURN

Post by regina avelino on Thu Aug 23, 2012 3:41 pm

Please refer to section 3.2 and section 3.3 of the Revenue Regulation No. 3-2005 for the submission of latest income tax return and business tax return. This is specifically required under Section 34.2 of the IRR of RA 9184.

The lowest calculated bidder (LCB) is required to submit latest ITYR for the preceeding tax year be in on a calendar or fiscal year (BIR Form #1702). For new establishment which, therefore have no annual ITR yet, it shall be refer to the most recent quarter's ITR (BIR Form #1702 Q).

Likewise, for the latest Business tax returns such as VAT/percetage tax, the LCB shall submit the previous six months. BIR Form 2550M and 2550Q for VAT and BIR Form 2551 M and 2551 Q

thus my answer to your query.

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Re: SUBMISSION OF MONTHLY INCOME TAX RETURN

Post by shark on Fri Aug 24, 2012 9:40 am

regina avelino wrote:Please refer to section 3.2 and section 3.3 of the Revenue Regulation No. 3-2005 for the submission of latest income tax return and business tax return. This is specifically required under Section 34.2 of the IRR of RA 9184.

The lowest calculated bidder (LCB) is required to submit latest ITYR for the preceeding tax year be in on a calendar or fiscal year (BIR Form #1702). For new establishment which, therefore have no annual ITR yet, it shall be refer to the most recent quarter's ITR (BIR Form #1702 Q).

Likewise, for the latest Business tax returns such as VAT/percetage tax, the LCB shall submit the previous six months. BIR Form 2550M and 2550Q for VAT and BIR Form 2551 M and 2551 Q

thus my answer to your query.

thank you ma'am Regina Smile
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Re: SUBMISSION OF MONTHLY INCOME TAX RETURN

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