How to file Income Tax Returns

With two days left before the April 15 deadline, the Bureau of Internal Revenue (BIR) has reminded taxpayers to file their annual income tax returns (AITRs) on time to avoid penalties.

Individuals earning purely compensation income may not need to file if they qualify for substituted filing, where employers handle the submission of taxes on their behalf.

However, mixed-income earners, self-employed individuals, freelancers, and those with multiple employers are required to file their own ITRs.

Know your forms:

• BIR Form 1700 — for individuals earning purely compensation income
• BIR Form 1701 — for mixed-income earners and self-employed or professionals using graduated income tax rates
• BIR Form 1701A — for purely self-employed individuals or professionals
• BIR Form 1701-MS — for micro and small taxpayers with gross sales of less than ₱20 million

Manual filing:

• Visit the nearest Authorized Agent Bank (AAB) of your Revenue District Office (RDO)
• Download, fill out, and print three copies of the BIR form
• Present the accomplished form and required documents for payment
• Secure a stamped and validated copy as proof of filing

Electronic filing:

• Access the BIR’s Electronic Filing and Payment System (eFPS)
• Select and accomplish the appropriate form
• Pay via e-wallets or online bank transfer
• Save a copy of the finalized tax return

The BIR also launched in March its Electronic Tax (eTax) Filing or Tax Assistance Center at the BIR National Training Center Auditorium to provide on-site support for the preparation and electronic filing of ITRs.—MCG, GMA News