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Tax Updates, Taxation

The Primers: How to Fill up BIR Form Nos. 1701 and 1702 November 2011 ENCS?

“How to accomplish BIR Form No. 1701 and 1702?”.  “How to fill up BIR Form No. 1701 and 1702?”.  Some of the questions now answered by the BIR with the issuance of the Primer on BIR Form No. 1701 and 1702.

On March 8, 2013, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular No. 26-2013 entitled “Primer on BIR Form No. 1701 (Annual Income Tax Return for Self-Employed Individuals, Estates and Trusts-Including those with both Business and Compensation Income) and BIR Form No. 1702 (Annual Income Tax Return for Corporation, Partnership and Other Non-Individual Taxpayer) November 2011 ENCS.

Two primer were made available to guide individuals and corporations on how properly accomplish BIR Form Nos. 1701 and 1702.  These contain guidelines which are listed line per line item with its corresponding explanation and supporting details while filling up the forms.  This primer are in sufficient detail that allows preparers of ITRs to correctly fill out the forms.  Find out how now by reading the downloadable files below.

Available Downloads:

Read the full text of Revenue Memorandum Circular No. 26-2013 below.


This Circular is issued to disseminate the use of the Primer that will be helpful in accomplishing the BIR Form Nos. 1701 and 1702.

Since the start of using the revised aforementioned BIR Forms last year, many of the taxpayers clamored on the difficulties they encountered and the tedious task in filling up these long forms because of the changes that were made with the previous forms. With these, the primer is made and developed primarily to cater taxpayers with accessible, efficient and easy filling up of the said two forms. Also, this primer serves as a reference guide on how to properly accomplish the forms and are listed line per line item with its corresponding explanation and supporting details while filling up the forms.

The primer shall be available to all taxpayers and can be downloaded/viewed from the BIR website (http://www.bir.gov.ph).

All revenue officials and employees are hereby enjoined to give this Circular as wide a publicity as possible.

Find these information helpful?  Share your thoughts! ;-)

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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

2 thoughts on “The Primers: How to Fill up BIR Form Nos. 1701 and 1702 November 2011 ENCS?

  1. Thank you this is very helpful! Do you have a primer for the new 1701 2014 form? is it not much different? Thanks!

    Posted by Luvic Jane | April 2, 2014, 2:47 pm

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