A landlord renting out a property: your forms
Reviewed by Mar Angelo N. Revelo, founder of PhilForms.
You are a landlord: you own a house, apartment or commercial space and collect rent.
Forms in this pack: Register with BIR; Quarterly percentage tax; Quarterly VAT return; Quarterly income tax; Annual income tax return; Annual income tax return (OSD or 8%); The 2307s your tenants give you.
Register with BIR: Once, on or before you start: the tax code requires everyone with an internal revenue tax to register.
Quarterly percentage tax: Every quarter, if a unit rents for more than ₱15,000 a month and your yearly rent from such units is ₱3 million or less.
Quarterly VAT return: If your yearly rent from units above ₱15,000 a month goes over ₱3 million.
Quarterly income tax: Three times a year you report the rent you earned.
Annual income tax return: Once a year, with itemized deductions or mixed income.
Annual income tax return (OSD or 8%): Once a year, if you take the optional standard deduction or the 8% rate.
The 2307s your tenants give you: A tenant that uses the place for its business withholds 5% of the rent; claim it against your income tax.
A residential unit rented at ₱15,000 a month or less is exempt from VAT and from the 3% percentage tax, however much you earn in total.
A tenant renting real property for its business withholds 5% of the rent.
Not for: A company whose business is real estate (see Keep a corporation in good standing).
Not affiliated with BIR, SSS, PhilHealth, Pag-IBIG or any government agency.