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Tax Updates, Taxation

BIR 2012 Interactive Forms for Income Tax (1700, 1701, 1702)

Relative to the issuance of the BIR of Revenue Regulation (RR) No. 19-2011, tax payers are now required to use new income tax forms.  The new forms include:

  1. BIR Form 1700 (Annual Income Tax Return for Individuals Earning Purely Compensation Income)
  2. BIR Form 1701 (Annual Income Tax Return for Self-Employed Individuals, Estates and Trusts)
  3. BIR Form 1702 (Annual Income Tax Return for Corporation, Partnership and Other Non-Individual Taxpayer)

For step-by-step procedure/guidelines on filing these forms, visit our post on: E-filing of the New Tax Forms (1700, 1701, 1702) Excel and Interactive Form, Here.

Except for the inclusion of two new sections on  taxpayer activity profile and tax relief availment, no significant changes were introduced in BIR Form 1702.

On the other hand, the revised BIR Forms 1700 and 1701 now require disclosure of additional information such as income subjected to final tax, income exempt from tax, and exclusions from gross income under Section 32(B) of the Tax Code.

These are mandatory for corporations, partnerships and non-individual with year end December 31, 2011 and is optional for individuals, estates and trust.  These will be mandatory for individual, estate and trust for the next calendar year.

BIR Interactive Form 1702

The BIR has released the Interactive BIR Form 1702 (Income Tax Return for Corporations and Partnerships) which allows users to insert data, edit, save, and print the form.

The interactive form does automatic computations and can print the  income tax return which you will file with the Accredited Agent Bank (AAB)  or Revenue Collection Officer (RCO) when you pay your income tax due on  April 16, 2012 (since April 15, 2012 falls on a Sunday).  For those with zero tax payable, the ITR and its attachments can be submitted  to the Revenue District Office (RDO).

To open the interactive form, use of PDF-XChange Viewer is required. A link is available in the Instructional Guide to download the program for free.  PDF Acrobat Reader will only allow you to view the Interactive Form, edit and print but not save the form.

According to the Instructional Guide, eFPS filers should file manually without need for prior approval while the new form is not yet available in the eFPS.  Once the eFPS is ready,  eFPS filers will need to refile electronically.

Download 1702 Interactive Form here and the Guide for Interactive Form 1702.

BIR Interactive Form 1700 and 1701

Where to Download?

You may download the interactive forms in the BIR website forms section. There, you will find a zipped file that contains the Interactive PDF file and an MSWord file for BIR’s guidelines on using the form. In the BIR guidelines, you can read important information, such as the features of the interactive forms, computer system requirements, how to fill up the form, how to print the form, how to file the form, and frequently asked questions.

To fill up the form, you just need to place the cursor of the mouse within the boxes and click to start entering data. You can also use the form even without a mouse by using the tab key to move around the form. The form can be saved and the taxpayer can easily edit the form, and re-use it in the future. Another feature of the interactive form is that the items can be validated. For example, fields that require alphabetical characters will not allow a taxpayer to enter numbers and vice versa.

Mandatory items are also outlined in red. Once the taxpayer saves the form without filling up mandatory items, a message will appear stating: “Reminder: You have not yet filled out all the red boxes. If these boxes are not all filled out and this form is submitted, it will be considered incomplete and/or you may be subject to audit.”

In order to use the Interactive Forms, your computer should support Windows 2000/XP/Vista/7 Operating Systems.

Additional sources: P&A, Business Tips

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About leecpa

Orlando Calundan is a Certified Public Accountant. He has exposures in audit of financial statements of entities in various industries such as real estate, food (quick service restaurants), manufacturing, service organizations and BPOs, automotive, holding/investment companies and more. He also has exposure on internal audit engagements. http://ocalundan.info

Discussion

One thought on “BIR 2012 Interactive Forms for Income Tax (1700, 1701, 1702)

  1. Dear Fellow Countrymen,

    I NEED YOUR KIND HELP!

    I am a Filipino student from National Cheng Kung University in Taiwan and I am currently looking for current users of the eFPS or the online tax filing system of BIR. If you are a user of eFPS, I would like to ask for your precious time to be my respondent by answering my survey questionnaire. This would help a lot for my study to be robust, for BIR to improve the e-tax system and for me to graduate on time. :)

    If you’re not a user, I know you are kind enough also to help me forward this to users of the eFPS (ex: accountants, small and medium enterprises, professionals, self-employed individuals).

    Here’s the link to the survey:
    https://docs.google.com/spreadsheet/viewform?formkey=dHhqQmI0WFFyQnVaVUZWS0tSbTJkaVE6MQ#gid=0

    I know I’m asking too much for a favor but I really highly appreciate your sincere participation. If you have questions don’t hesitate to email me on birtaxpayer2012@gmail.com

    Posted by NCKU Researcher | April 15, 2012, 10:25 am

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