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PERCENTAGE TAX

PERCENTAGE TAX. PERCENTAGE TAXES. Percentage taxes. Common Carrier -Land. Transport of Passenger Subject to Common Carrier’s tax. Transport of Cargoes Subject to VAT. What is a common carrier?.

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PERCENTAGE TAX

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  1. PERCENTAGE TAX

  2. PERCENTAGE TAXES

  3. Percentage taxes

  4. Common Carrier -Land • Transport of Passenger • Subject to Common Carrier’s tax • Transport of Cargoes • Subject to VAT

  5. What is a common carrier? • "any person, corporation, firm or association engaged in the business of carrying or transporting passengers or goods or both, by land, water, or air, for compensation, offering their services to the public."

  6. Percentage taxes

  7. Domestic Carriers - Air & Sea

  8. Percentage taxes

  9. Overseas Communication Tax Composition of total billings = ( IDD charge + 10% OCT) • Exemptions: • Government • Diplomatic Services • International Organizations • News Services

  10. Percentage taxes

  11. PERCENTAGE TAXES

  12. % taxes

  13. percentage taxes

  14. 5% 1% 7% 5%, 1%, 7% 5%, 1%

  15. Percentage taxes

  16. percentage taxes

  17. % TAXES

  18. PERCENTAGE TAXES

  19. Tax Forms and Deadlines - manual Form 2551M Deadline- 20th day after end of the month Form 2551Q Deadline – 20th day after end of each quarter for for Sec. 125 – Amusement Taxes

  20. Tax Forms and Deadlines - EFPS Form 2551M Group A - 25 days ff. the end of the month Group B - 24 days -do- Group C - 23 days -do- Group D - 22 days -do- Group E - 21 days -do- Form 2551Q Deadline – 20th day after end of each quarter for for Sec. 125 – Amusement Taxes

  21. The end

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