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Inquiries on: Paying your BIR BUSINESS TAXES.


This discussion is about "Inquiries on: Paying your BIR BUSINESS TAXES." in the "Business, Finance & Economics Discussions" forums.
Hello Istoryan Entrepreneurs and Book keepers, I have a baby business for the moment and for that since we're new into the world of business, ...

  1. #1
    Junior Member GwenAndFinn's Avatar
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    Default Inquiries on: Paying your BIR BUSINESS TAXES.


    Hello Istoryan Entrepreneurs and Book keepers,

    I have a baby business for the moment and for that since we're new into the world of business, i hire a book keeper for the payments of the business taxes and stuffs. But now, i decided nalang to do the payments since paying only happens like once a month and you can even do it on your own and naka-save pa because you didn't have to pay for the book keepers bin.

    Anyways, since 3 months pa ni ako business. I know 3% (NonVat) of your sales ang mabayad sa tax monthly and wala pajud koy idea anang sa quarterly payments and sa annual payments. So pls anyone here na makahelp nako how to compute for it would gladly appreciate it.

    Thank you soo much and God bless!

    Gwen~

  2. #2
    Elite Member rans23's Avatar
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    mag hire gyud ka og bookeeper, ilaha manang linya og panginabuhi or pwede ka mag undergo og training as a bookeeper.

  3. #3
    C.I.A. cebu.opportunities's Avatar
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    naa mana'y half-day seminar ang BIR. if sa Mandaue, every Wednesdays, 1pm na. i-tackle na tanan pero ang detailed gyud ky mo post rmn sila notice sa ila office kung mo conduct sila labi na naay changes mahitabo and mga updates.

    non-vat and 3%:
    Quarterly, form 1701Q
    Annually, form 1701

    try searching the forms above pra you'll know if kahibaw ka or not.

    annually,
    - kailangan ka info sa latest business Cedula.
    - Income Statement
    - Balance Sheet
    nalimot nako sa uban, hehe


    possible monthly payments and forms:
    2551-M (3%)
    1601-E (Expanded)-- rental, etc...
    1601-C (Compensation)-- Salary/wage of employees

    quarterly:
    1701Q
    - bring all the monthly forms of the quarter for reference
    - deadline is succeeding month of the outstanding quarter

    annually:
    - bring all the quarterly forms upto the 3rd quarter and all the monthly forms of the 4th quarter for reference.
    - deadline april of the succeeding year

    The rest, didto nlng sa BIR ask TS. God bless.
    Last edited by cebu.opportunities; 09-26-2013 at 09:23 PM.
    GwenAndFinn likes this.

  4. #4
    Junior Member GwenAndFinn's Avatar
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    #cebu.opportunities thank you soo much for your post. Quite medyo nalibog ko, imma check my files first so that i can trace the forms.

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    Hi @GwenAndFinn, pwede ko mo ask if unsa imo line of business? Murag mao-mao ta ug problema. I have a sari-sari store man gud nya I need to submit na my Journal, Ledger ug Columnar. Wala ko mo hire ug book keeper kay pila ra man intawn ang ginansya sa sari-sari store. Naglibog ko ug unsaon paghimo aning mga Journal, Ledger ug Columnar. During the BIR seminar ako gi attenan dili man sila mo hatag sa step by step jud ug unsaon ni tanan. Mo advice ra nuon sila nga mag hire jud ta ug book keeper

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    I hope naa maka share diri sa ila Journal, Ledger ug Columnar entries para atleast naa ko tamdanan. huhuhu. I badly need your help mga istoryans. Salamat daan

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    good luck to us guys....same problem here, wa pa gyod ko kabayad sa BIR, mo tapos nalang ang tuig, patay gyod ko ani inig renew, worried kaayo ko anang sales journal, ledger, etc.....sari-sari store raman tawn ni amo business niya mag take note pa ta ani unsay pamaliton sa mga taw

  8. #8
    C.I.A. cebu.opportunities's Avatar
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    ^ sari2x store.... nig December man siguro to deadline pra sa inyo inventory mga boss. kakapoy raba anang inventory. pra ma hapsay, taga adlaw jud mag-inventory pra sayon nlng nig submit na.

    di ko sure if unsa jud pero sa giingon ato taga BIR, ang Journal ky mura rana siya draft sa inyo daily sales. while ang sa columnar, naa dira makita ang debit and credit sa sales and expenses. mura siya balance sheet pero daily gihapon pag record unlike sa i-submit nga summary na.

    kanang book of accounts or journal, ledger and columnar, ayha raman na nila iinspect if mag tax mapping na sila. kana mag-store-to-store na og inspect.

    ang kakapoy lang ky you need to comply that everyday and if ma timingan nga mag tax map na unya naa ky mga adlaw nga wa a nahimuan, per page ang penalty nila pero naa rmn gihapon "hangyo" ky sa uban, pila na ka months, wa gihapon nahimuan man. bulto ra ila penalty, not by page.

  9. #9
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    Quote Originally Posted by cj_5903 View Post
    I hope naa maka share diri sa ila Journal, Ledger ug Columnar entries para atleast naa ko tamdanan. huhuhu. I badly need your help mga istoryans. Salamat daan
    Hello, share lang nako ni ninyo, hope this can help:
    Ang journal usually have 5 columns:
    a. Date
    b. Particulars
    c. Reference (Ok la kung dili gamiton. Mao ni siya kadtong small column in between sa Particulars og debit column)
    d. Debit
    e. Credit

    To record sales in the sales journal:
    1. You have to write the date of sales
    2. In the particulars you have to write this:
    First Line: Cash In Bank or Cash On Hand (kung cash sales) or Accounts Sales (kung credit or pautang)
    CIB - kung diritso sa bank gideposit imong money
    COH - kung naa lang sa imo ang money ngan dili nimo gidedeposit
    Second Line: Sales
    Naa ni siya gamay na indention para so dili sila pwede maglinya ni first line
    Third Line - To record the sales for the day or To record the daily sales
    Mao ni siya imong explenation sa imong gibuhat na entry.
    3. Debit - amount sa imong sales. Dapat buwag ang imong cash sales sa credit sales.
    4. Credit - total amount sa imong sales. Cash + Credit sales

    Please note na dapat ang debit ug credit side mo is balance


    Kanang sa imong ledger is summary lang sa imong amount per account title.
    SA columnar sad sa pinaka left side nimo isuwat ang imong nga account titles then ang imong amount isuwat under sa debit and credit is base na sa total na naa sa imong ledger.

    Ang naa lang entries dapat is your journal book habang summarization of transaction ang ledger and ang columnar maoy imong gamiton pagprepare sa imong FS

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