Tax Filing and Rates Quiz

When is the deadline for filing and paying the Annual Income Tax Return (ITR) for individuals?

• March 15

• April 15

• May 15

• June 15

What is the deadline for filing VAT returns for a quarter?

• 15th day of the month following the quarter

• 25th day of the month following the quarter

• 30th day of the month following the quarter

• 5th day of the month following the quarter

What is the income tax rate for individuals earning over ₱8 million in taxable year 2023 onwards ?

• 15%

• 25%

• 30%

• 35%

What form is used by individuals to file the Annual Income Tax Return (ITR)?

• BIR Form 1701

• BIR Form 1702

• BIR Form 2551Q

• BIR Form 2550M

When should you file the quarterly Income Tax Return for individuals?

• 15th of May, August, and November

• 15th of April, July, and October

• 30th of May, August, and November

• 30th of January, April, and July

Which form is used for filing the VAT return for individuals or businesses?

• BIR Form 2550Q

• BIR Form 2551Q

• BIR Form 1701Q

• BIR Form 1700

What is the deadline for filing the monthly VAT return?

• 15th day of the month following the taxable month

• 20th day of the month following the taxable month

• 25th day of the month following the taxable month

• No deadline

What is the tax rate for domestic corporations?

• 10%

• 30%/25%

• 25%/20%

• 30%/20%

What is the deadline for filing the monthly expanded withholding tax return?

• 10th of the month following the taxable month

• 15th of the month following the taxable month

• 20th of the month following the taxable month

• 30th of the month following the taxable month

Which form should be used to file the Quarterly Income Tax Return for corporations?

• BIR Form 1701Q

• BIR Form 1702Q

• BIR Form 2550Q

• BIR Form 1700