Some of us may have already filed our income tax returns in the new format prescribed by the Bureau of Internal Revenue (BIR). These new tax returns may be downloaded here. You can also visit in the list of all downloadable free BIR Forms here.
For corporations, partnerships, non-individual taxpayers, self-employed individuals, estates and trusts, they are subject to quarterly filing of quarterly income tax returns.
The corporate quarterly income tax return shall be filed with or without payment within sixty (60) days following the close of each of the first three (3) quarters of the taxable year whether calendar or fiscal year.
For self-employed individuals, estates and trusts following are the deadline of filing:
|1st qtr||On or before April 15 of the current taxable year|
|2nd qtr||On or before August 15 of the current taxable year|
|3rd qtr||On or before November 15 of the current taxable year|
Relative to the issuance of the new annual income tax returns (1700, 1701 and 1702) are there new quarterly income tax returns (1701Q and 1702Q) issued by the BIR?
The BIR has NOT issued any updated or latest form aligned with the new annual income tax returns. Individuals, estate, trust and entities who are required to file quarterly tax returns should use the old quarterly tax returns as follows (click to download):
- 1701Q Quarterly Income Tax Return for Self-employed Individuals, Estates, and Trusts (Including Those with both Business and Compensation Income)
- 1702Q Quarterly Income Tax Return for Corporations, Partnerships and Other Non-Individual Taxpayers
There were no changes on how the income tax due and income tax still payable are computed. For the guidance on how to compute quarterly tax due/payable, refer to out posts which will be updated shortly. For the mean time, please refer to the provision of the tax code and relevant revenue issuances in the BIR website.
hanggang 3rd quarter lang po kc ang bayaran
sir me question lang po aq reg sa 1701q sa quarterly po dba 4 payment ng quarterly un evry april 15 july 15 oct 15jan 15 kc po na coconfusd aq sa nakalagay dto na evry april, august nd nov, thanx po
Hello poh. Ask ko lang po yung mga 2307 na iniencode po sa alphalist ng 1702Q need poh bah isubmit thru esubmission?
I understand the due date for the 1702Q is 60 days after the end of the quarter, yung tax due payment din po ba, same due date or can do we have additional days (after the 60 days) to make the payment, assuming the return was filed timely (within the 60 days)?
Hello po sir. ask ko lang po required po ba na magfile ng 1701Q Quarterly? or ok lang po na kahit Annual na 1701 lang ?
hi po. pwedi po bang e close ang 1701Q?
i mean nakapagfile p nang 1st quarter kasabay nung ITR tapos di na po nakapagfile ng 2nd and 3rd, pwedi po bang e close ang 1701Q?…please advice….tnx po!
May business po? Kasi di naman kayo magpafile nyan pag hindi kayo required. Kapag required po kayo, kasi self-employed or mixed income earner kayo, eh di po pwedeng di kayo magfile.
Hi Sir. I just want to ask if possible ba na makapagrequest kame ng copy ng 1702Q namen sa BIR? No proper turn over kasi ng previous management so hindi namin mahagilap yung mga BIR files. Thank you 🙂
Actually, sa RDO nyo po pwede tanungin. I haven’t heard someone na nakakuha from them though. Try nyo po.
Hello po Sir. tatanong ko lang po kasi ngayon ko lang po napansin na yung 1702q ko last 2nd quarter lahat ng details dun po eh nasabay ko pa yung 1st quarter. Bali na doble po yung 1st quarter ko. ano po dapat gawin ngayong 3rd quarter po. ano po magiging adjustment ko. though negative naman po yung last 2 quarters ko po. thank you
Pwede mong ammend, para tumama. Ang importante naman eh tama na yung nasa annual (1702) return mo.
thank you po.
Hi, po sa 1702Q po if may babayaran need pa po ba dalhin yung financial statement nmin for supporting documents??? thank you po.
Hi, included po kami as LTS. Is it alright kung wala pa kaming attachment na 2307sa 1702 Q? Reason: our tenants are late in the submission of the same but we use them as credit in the payment of our tax liability. Our Company wrote them a request that they must provide us a corresponding 2307 for every payment they make. We only get the detail from their voucher for the 5% withholding. For whatever reason, late pa rin sila. Ano po ang implication sa pag fa file namin without 2307?
Paano po kung hindi ako nakapag file ng 1st quarter ITR last April 15?
ang nafile ko lang po yung annual return?
may penalty po ba ako?
hi po. for 1701q, what if our 1st and 2nd quarters incurred a loss, can it be carried over to the next quarter?
kelangan din po ba magfile ang cooperative ng quarterly ITR?
1702Q process for 4th quarter . month of oct. nov. dec . 2015 ??
hi, what's the difference between 1701 and 1701q? is payment of both quarterly also?
Mode of filing? Depends if with our without payment and on what form are you prescribed to file by the BIR. Modes available are 1) Manually; 2) Thru eBIRForms; 3) Thru EFPS
It's a long and complex process Ree. You may want to buy an income taxation books to know more about it. Or attend a seminar/worskhop. We can't cover it in just a comment like this. But we'll soon publish articles on the basics. 🙂
No, you can't do that. VAT is a different kind of tax from that of income tax.
Can I include my VAT payments(2550Q) on "21 Less: Deductions" field on 1702Q? Thank you very much!
helo, panu po magcompute ng 1702Q?
paano po magfile ng 1701Q?
Christopher Raymundo Leyson Thanks for answering some of the questions. 🙂
Hi. As expense. You can claim it if you are using the itemized method of deduction.
Aw! They should be teaching it to you.
Interest (at 20%); Surcharge (at 25%); Compromise (refer to BIR compromise table).
Hi! For individuals, Nov. 15, for Corporations Nov. 29. Thanks!
I was needing form name last month and was made aware of a document management site that hosts a searchable forms database . If you are requiring 2002 PH BIR Form 2551M also , here's a http://pdf.ac/1DIlhX
Ask q po if mgkano penalty if nalate ng payment for 2551M and 1701Q?
Hi Mr Orlando. May I know when is the deadline of Quarterly ITR of Lotto Business period July Aug Sept 2015? Asap pls.
i am astudent, and we have given a form to sign it up. but i don't know how.. please kindly show us how ?
1000 compromise plus surchage if naa tax due
applicable po ba ito sa mga Cooperative?
hi, ask lang po, na-late po aq ng submit ng 1701Q via online, ano po magiging penalty ko?? please, badly need answer po.. thanks.
Gud am. Naguguluhan po ako. Ung po bang binabayaran na percentage tax buwan buan (2551m) e treated as expense to arrive at net taxable income? Or direct deduction po ba sya from income tax payable?
sa esubmission nyo na po isasubmit ang form, then magrereply ang bir sa email at yon ang iprint nyo at iattach sa form.
kung wla pa din ebir offline po kau magfile
i pressume different registration and different line ang business ng boss mo so separate po yan
kung LTS po ang company nyo may bagong regulation po ang BIR na klangan iscan lahat ng 2307 ang ilagay sa CD. check nyo po regulation ng bir sa website nila
nasa RR 26-2015 po ng bir website
Hi po! Ask ko lang po pano po sa 1701Q para sa 3rd Qtr., ‘ung taxable income ko po kc ‘nung last 2nd Qtr. is negative, and then para po sa filing ng 3rd Qtr., kelangan ‘ung taxable income for the prev. Qtr., include ko po ba na negative ‘ung prev. taxable income ko?
Yes po, include the loss from previous quarter/s.
Hi sir! Di I need to attach 2307 or summary of tax payments and creditable withheld? may part kasi sa efps na pwede magattach but then my problem is anu po yung subject format ng zip file? thanks!
anung email po ba isesend un 1702Q? i need it ASAP
Hi Sir! I have the same problem as Kay Aguilar in which case the 1701Q return for the first qtr showed a negative amount. Instead of including it in 38C, i added it to Q2 deductions.The result showed the exact amount of taxes payable as of the end of Q2. Tama po ba ang ginawa ko?
I want to know more on how to fill up and compute in the Quarterly form.. what about if you have two businesses in the same owner ? do i have to issue on separate 1701Q form ? or i will merge it in one..
Wala pa akong email from bir with regards sa ebir ko pero nkapagsubmit na ako application matgal b talaga sila magreresponse lapit n nman kasi submission ng 1st quarter eh…
Good Day sir, ask ko po ang difference ng efps sa ebir form? if ebir form, need po ba mag submit ng soft copy monthly sa BIR? let say percentage tax?
Philippine Accounting Updates hi sir.. to have clarification lng po sa answer nyo dito.. how i can use the negative result of previous quarter to the next quarter? is it under 38C of 1701Q form? if negative it will be added to the tax due instead mabawas? tama po ba? or should put zero nlang?
Christopher Raymundo Leyson nalilito kasi ako paano yung pag fill up eh … never ko kasi sya pinractice for how many years, and kay google lang ako nag dedepend and sa books kaso puro individual ung nakikita kong sample hindi corp
san nyo po nasend?efps ba kau o ebir form lng?
file pa din po pero no operation lang
question po .. paano pag no income? since hindi pa naman talalga nag start ang operation.. puro gastos pa lang talaga.. 2nd quarter na nag start yung ops
hello sir i have already submit 1702q pero nag appears sa inbox ko is unable to deliver
Paano po ba magsend ng 1702Q online?Ano po ba gagamiting site?
pano po ba magcompute ng 1702Q?
If I am a self-employed business man do I need to really pay the quarterly 1701Q? can I not just pay on a semester or annual term? thanks
No payment po.. instead you can use that loss para sa next na quarter..
Wala pong 4th quarter na 1701Q.. Annual na po yun, 1701 na deadline is April 15.. File early na lang po para iwas abala..
Sir 1701q kailan mo na -include sa efps? matagal na po ba?
Sir gud day, how about the 4th qtr. deadline of 1701Q?
Good afternoon, ask ko lang sana kung paano po computin kung negative ang quarter income (loss)? Many thanks.
Hi Sansan! All expense not otherwise disallowed are allowable as deductions below gross income. Too many to mention. 🙂 Reading the tax code will answer your question.
Yes, it is deductible when availing itemized deductions.
Hello. What were the allowable deductions below the gross income? thanks
yes Mr. orlando calundan
hi sir, is the monthly percentage tax deductible to Quarterly Income Tax Return? THanks
Yes. It is deductibe. 🙂
Yes. Some leaves the amount zero if really no operation but if you have expense, of course you have to reflect those. Some puts a "NO OPERATION" in the face of the quarterly returns if there is really no activity. 🙂
should i still file even if we dont have income for the first quarter? what should ii put in the form?
should i still file even if we dont have income for the first quarter? what should ii put in the form?
Contract of service employee po ako sa isang government office. Since walang employee-employer relationship, professional income/business tax daw po ang dapat ko bayaran. Nagbayad po ako ng annual registration fee sa BIR at kinakaltasan po ako sa payroll ng 5% bimonthly. Sa babayaran ko po bang quarterly tax, maaari ko po ba isama sa itemized deduction ang kinakaltas sa akin na 5% at ang mga personal kong binayaran na SSS, Philhealth, Pagibig at HMO/medical insurance contributions?
H Mark, what is the BIR form being issued to you by that government office. You have to look at it, whether the tax withheld you you is sa FINAL or a CREDITABLE withholding tax. Either way, di mo sya pwedeng i-claim as deduction as expenses, pero pag creditable withholding tax sya, pwede mo sya ideduct sa tax due. Meaning deduction sa tax payable. With regards, to SSS, Philheath, etc. di din sya deductible as expense sa income mo. Yung pwede ideduct eh say for example may empleyado ka business mo, binayaran mo SSS etc nila. Pwede iclaim yun as expense. 🙂
can you set up an accounting entry for this:
net income for 1st quarter (jan-mar) P 3,933,090.24
Tax Payable @30% 1,179,927.07
Creditable Tax (1st qtr) (162,455.24)
Creditable Tax Prior Year (141,885.36)
Tax Due & payable 875,586.47
Hi Tesa. I doesn’t seem to be so challenging. Is this a test? Well, the entry is:
(dr) Provision for income tax
(cr) Creditable taxes
(cr) Income tax payable
Just plot in the amounts.