BIR Forms and the Required Attachments for Each

BIR Forms and the Required Attachments for Each

BIR FORM 1700
Annual Income Tax Return for Individuals Earning Purely Compensation Income (Including Non-Business/Non-Profession Income)

Required Attachments:

1. BIR Form No. 1700; or Printed copy of BIR Form No. 1700 with Filing Reference Number (FRN) (for eFPS filed return); or Printed copy of BIR Form No. 1700 with the eMail Tax Return Receipt Confirmation received (for eBIRForms filed return);
2. Certificate of Compensation Payment/Tax Withheld (BIR Form No. 2316);
3. Waiver of the husband’s right to claim additional exemption, if...

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How to Register with the BIR eFPS (eFiling and Payment System)

How to Register with the BIR eFPS (eFiling and Payment System)

In line with the government’s policy of providing fast and convenient manner of transacting with government offices, the BIR being one of the government agencies with a very important role in nation building, conceptualized and introduced eFPS (eFiling and Payment System) in 2001 to make the filing of tax returns and payment of taxes convenient for taxpayers through a much faster processing and immediate confirmation of tax returns filed and paid.

With the eFPS, taxpayers can avail of a paperless tax filing experience and can...

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2018 Filing Schedule of AFS and GIS

2018 Filing Schedule of AFS and GIS

We may be overwhelmed by the current information on the TRAIN Law but we still must not forget the rapidly approaching annual deadlines, particularly the filing of Audited Financial Statements (AFS) and General Information Sheet (GIS).

To maintain an organized and orderly filing of these documents, the Securities and Exchange Commission (SEC) issued Memorandum Circular No. 3 last January 22, 2018 pertaining to the filing of both AFS and GIS.
In pursuant to the Commission’s authority under the Corporation Code and Securities Regulation Code, SEC adopts the following measures in relation to the filing of these integral annual reports:
...

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TAX ADVISORY: Deadline on Expanded Withholding Tax (BIR 1601E) is still on the 10th of the Month

TAX ADVISORY: Deadline on Expanded Withholding Tax (BIR 1601E) is still on the 10th of the Month

People in the business community right now are quite puzzled as to how they would remit Government taxes as withholding agents. Just last year, December 19, 2017, the new Tax Reform for Acceleration and Inclusion (TRAIN) also referred to as Republic Act (RA) No. 10963, was signed into law by President Rodrigo Duterte.
Inclusive in this tax reform is the change pertaining to tax filing (amended Section 58 of the NIRC). Before TRAIN, the filing of withholding tax was done monthly. Now, the law states that it should be done on a quarterly basis.

This implies...

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How to file your Audited Financial Statements (AFS)?

How to file your Audited Financial Statements (AFS)?

Last January 22nd of this year, the Securities and Exchange Commission (SEC) issued Memorandum Circular No. 3 Series of 2018 pertaining to the filing of Audited Financial Statements (AFS) and General Information Sheet (GIS).
Stipulated in this Memorandum Circular is the schedule of filing of these reports for this year. The schedule set by the Commission is number-coded (particularly for AFS) and is based on the last numerical digit of the Company’s SEC registration or license number.

For the complete schedule of the 2018 AFS filing, you can read it here.

All filers of GIS and AFS, irrespective of the number...

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