Prescribing the Use of the Revised BIR Form 2529 A-Q, Quarterly Percentage Tax Return for Persons Engaged in Business Subject to Percentage Tax under 'Title V of the Tax'

November 20, 1989 REVENUE MEMORANDUM ORDER NO. 47-89 SUBJECT : Prescribing the Use of the Revised BIR Form 2529 A-Q, Quarterly Percentage Tax Return for Persons Engaged in Business Subject to Percentage Tax under 'Title V of the Tax' TO : All Revenue Officers and Others Concerned A. Objectives: 1. To maximize monitoring efficiency on taxpayers subject to Percentage Tax; 2. To conform with the Bureau's Cost Reduction Program by minimizing expenses for printing of BIR forms; and 3. To eliminate unnecessary forms duplicating the purpose of BIR Form 2529 A-Q. B. Background: With the introduction of the Value-Added Tax (VAT) four (4) tax returns on Sales Tax have become obsolete, as follows: 1. BIR Form No. 2559 D - Monthly Return of Sales Tax on Subsequent Sales 2. BIR Form No. 2529 Q - Manufacturer's Quarterly Sales Tax Return 3. BIR Form No. 2529 BQ - Contractor's Quarterly Percentage Tax Return 4. BIR Form No. 2529 EQ - Importer's Quarterly Sales Tax Return. In lieu of the above mentioned forms, BIR Form No. 2529 A-Q has been revised to include all kinds of Percentage Taxes under Title V of the National Internal Revenue Code except for taxes on insurance premiums and agents of foreign insurance companies (Sections 121 & 122, respectively, under Title V of the NIRC). C. Prescribing the New Form: BIR Form 2529 A-Q revised April, 1988 with form title "Quarterly Percentage Tax Return" is hereby prescribed covering taxpayers whose taxable activity are within the scope of Section 113 to Section 120 of the National Internal Revenue Code, as amended, like operators of hotels, motels, caterers, and franchise holders. cd i It shall likewise cover amusement taxes and tax winnings of horse races, double forecast/quinella and trifecta bets as provided for in Sections 123 & 124 of the same Code. D. Effectivity: This Order shall take effect upon approval. (SGD.) JOSE U. ONG Commissioner of Internal Revenue 05220-C1831-A-9