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?.
Common Carrier -Land • Transport of Passenger • Subject to Common Carrier’s tax • Transport of Cargoes • Subject to VAT
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."
Overseas Communication Tax Composition of total billings = ( IDD charge + 10% OCT) • Exemptions: • Government • Diplomatic Services • International Organizations • News Services
5% 1% 7% 5%, 1%, 7% 5%, 1%
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
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