{"id":5920,"date":"2016-04-08T09:09:55","date_gmt":"2016-04-08T09:09:55","guid":{"rendered":"https:\/\/keblog.demoapp.xyz\/?p=5920"},"modified":"2022-11-14T15:57:20","modified_gmt":"2022-11-14T08:57:20","slug":"a-filipinos-guide-to-filing-your-income-tax-return","status":"publish","type":"post","link":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/a-filipinos-guide-to-filing-your-income-tax-return","title":{"rendered":"A Filipino&#8217;s Guide to Filing Your Income Tax Return"},"content":{"rendered":"<article class=\"Post__ArticleWrapper-sc-174xy8l-0 ccdSnC\">\n<div class=\"Post__SectionWrapper-sc-174xy8l-1 jkcuFG\">\n<p>It&#8217;s tax season and all your accountant friends are probably in a stressful state right now computing their company&#8217;s taxes. There is a portion of the human population in this world that\u00a0don&#8217;t like filing their income tax return (ITR) specially when they find out that they need to pay additional tax. But as much as we hate the word\u00a0&#8220;taxes&#8221;, the good in paying them will always outweigh the bad. Think of it this way, we&#8217;re\u00a0contributing to the development and progress of the country!<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_26 counter-hierarchy\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">TOPICS<\/p>\n<span class=\"ez-toc-title-toggle\"><a class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" style=\"display: none;\"><label for=\"item\" aria-label=\"Table of Content\"><i class=\"ez-toc-glyphicon ez-toc-icon-toggle\"><\/i><\/label><input type=\"checkbox\" id=\"item\"><\/a><\/span><\/div>\n<nav><ul class=\"ez-toc-list ez-toc-list-level-1\"><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/neo-blog.kalibrr.com\/blog\/id\/a-filipinos-guide-to-filing-your-income-tax-return\/#But_what_is_an_ITR\" title=\"But what is an ITR?\">But what is an ITR?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/neo-blog.kalibrr.com\/blog\/id\/a-filipinos-guide-to-filing-your-income-tax-return\/#Am_I_required_to_file_an_ITR\" title=\"Am I required to file an ITR?\">Am I required to file an ITR?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/neo-blog.kalibrr.com\/blog\/id\/a-filipinos-guide-to-filing-your-income-tax-return\/#What_forms_do_I_need_to_file_my_ITR\" title=\"What forms do I need to file my ITR?\">What forms do I need to file my ITR?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/neo-blog.kalibrr.com\/blog\/id\/a-filipinos-guide-to-filing-your-income-tax-return\/#Now_lets_proceed_on_filing_your_tax_returns\" title=\"Now let&#8217;s\u00a0proceed\u00a0on filing your tax returns:\">Now let&#8217;s\u00a0proceed\u00a0on filing your tax returns:<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"But_what_is_an_ITR\"><\/span><strong>But what is an ITR?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to the\u00a0<strong><a href=\"http:\/\/www.bir.gov.ph\/\" rel=\"nofollow noopener\" target=\"_blank\">Bureau of Internal Revenue<\/a><\/strong>, an\u00a0Income Tax is a tax on a person&#8217;s income, emoluments, profits arising from property, practice of profession, conduct of trade or business or on the pertinent items of gross income. A tax return, however, is a return of excess taxes paid during a given tax year. This must be filed annually by an individual or a company that has received income during the year.<\/p>\n<h3>RELATED:\u00a0<a href=\"http:\/\/www.gov.ph\/2014\/04\/01\/who-are-required-to-file-income-tax-returns\" rel=\"nofollow noopener\" target=\"_blank\">WHO ARE REQUIRED TO FILE INCOME TAX RETURNS?<\/a><\/h3>\n<h2><span class=\"ez-toc-section\" id=\"Am_I_required_to_file_an_ITR\"><\/span><strong>Am I required to file an ITR?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>If you have a job and receiving compensation, then yes. Basically, anyone and everyone who is a Filipino citizen living in the Philippines, receiving income from sources within or outside the Philippines is required. Whether your income comes from being employed in a company, your own business, or even freelance gigs, when there&#8217;s income, we are all required to file our ITR. If you&#8217;re employed by a company in the Philippines, they usually file your ITRs for you, but if not, like say you&#8217;re an owner of a business, or a freelancer, or you have a corporation, you&#8217;ll have to file them yourself. I know. Just the thought of lining up at the BIR office is sending terror signals to my head, that&#8217;s why it&#8217;s always best to file your taxes way before the deadline\u2014<strong>April 15, 2016<\/strong>\u2014to avoid long cues.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_forms_do_I_need_to_file_my_ITR\"><\/span><strong>What forms do I need to file my ITR?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/div>\n<div><img loading=\"lazy\" class=\"alignnone size-full wp-image-5921\" src=\"https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/09\/a-filipinos-guide-to-filing-your-income-tax-return-1.jpg\" alt=\"\" width=\"1000\" height=\"665\" srcset=\"https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/09\/a-filipinos-guide-to-filing-your-income-tax-return-1.jpg 1000w, https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/09\/a-filipinos-guide-to-filing-your-income-tax-return-1-300x200.jpg 300w, https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/09\/a-filipinos-guide-to-filing-your-income-tax-return-1-768x511.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/div>\n<div><\/div>\n<div class=\"Post__SectionWrapper-sc-174xy8l-1 jkcuFG\">\n<p>Thanks to technology, you can now easily download and print the BIR Forms online. Now, that&#8217;s one less stresses you need to go through. However, do note that this article only tackles <strong>individual employees earning compensation<\/strong>, and\u00a0<strong>self-employed individuals<\/strong>. 1. For individuals earning income only as employees; and for marginal income earners, you&#8217;ll need to fill up three (3) copies of\u00a0<strong><a href=\"ftp:\/\/ftp.bir.gov.ph\/webadmin1\/pdf\/82310BIR%20Form%201700.pdf\" rel=\"nofollow noopener\" target=\"_blank\">BIR Form 1700<\/a>.\u00a0<\/strong>\u00a0<strong>Documents\u00a0needed:<\/strong>\u00a0Certificate of Income Tax Withheld on Compensation (<strong><a href=\"ftp:\/\/ftp.bir.gov.ph\/webadmin1\/pdf\/16992316.pdf\" rel=\"nofollow noopener\" target=\"_blank\">BIR Form 2316<\/a><\/strong>); and if applicable, waiver of the spouse&#8217;s\u2019s right to claim additional exemption; duly approved tax debit memo; proof of foreign tax credits. 2. For self-employed individuals; for individuals deriving mixed income, you&#8217;ll need to fill up three (3) copies of\u00a0<strong><a href=\"ftp:\/\/ftp.bir.gov.ph\/webadmin1\/pdf\/82255BIR%20Form%201701.pdf\" rel=\"nofollow noopener\" target=\"_blank\">BIR Form 1701<\/a><\/strong>.\u00a0<strong>Documents needed:<\/strong>\u00a0Certificate of Income Tax Withheld on Compensation BIR Form 2316; and if applicable, tax debit memo, proof of prior year\u2019s excess tax credits;\u00a0Certificate of Income Payments not Subjected to Withholding Tax (BIR Form 2304) if applicable.<\/p>\n<h3>RELATED:\u00a0<a href=\"https:\/\/www.kalibrr.com\/advice\/2016\/01\/the-freelancers-guide-to-bir-registration\" target=\"_blank\" rel=\"noopener\">THE FREELANCER&#8217;S GUIDE TO BIR REGISTRATION<\/a><\/h3>\n<h2><span class=\"ez-toc-section\" id=\"Now_lets_proceed_on_filing_your_tax_returns\"><\/span>Now let&#8217;s\u00a0proceed\u00a0on filing your tax returns:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/div>\n<\/article>\n<div><img loading=\"lazy\" class=\"alignnone size-full wp-image-5923\" src=\"https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/09\/a-filipinos-guide-to-filing-your-income-tax-return-2.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/09\/a-filipinos-guide-to-filing-your-income-tax-return-2.jpg 1000w, https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/09\/a-filipinos-guide-to-filing-your-income-tax-return-2-300x200.jpg 300w, https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/09\/a-filipinos-guide-to-filing-your-income-tax-return-2-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/div>\n<div><\/div>\n<article class=\"Post__ArticleWrapper-sc-174xy8l-0 ccdSnC\">\n<div class=\"Post__SectionWrapper-sc-174xy8l-1 jkcuFG\">\n<p>Step 1. <b>Fill-up<\/b>\u00a0BIR Form 1700, 1701, or other forms above in triplicate copies. Step 2.\u00a0<b>If\u00a0<\/b>there is payment:<\/p>\n<ul>\n<li>Proceed to the nearest\u00a0<strong><a href=\"http:\/\/www.bir.gov.ph\/index.php\/list-of-authorized-agent-banks.html\" rel=\"nofollow noopener\" target=\"_blank\">Authorized Agent Bank<\/a><\/strong>\u00a0(AAB) of the Revenue District Office where you are registered and present the duly accomplished BIR Form 1701, together with the required attachments and your payment.<\/li>\n<li>Receive your copy of the duly stamped and validated form from the teller of the AABs\/Revenue Collection Officer<\/li>\n<\/ul>\n<p>For\u00a0&#8220;<strong>No Payment<\/strong>&#8221; including refundable\/creditable returns, returns with excess tax credit carry over, and returns qualified for second installment:<\/p>\n<ul>\n<li>\n<div>Proceed to the Revenue District Office where you are registered or to any established Tax Filing Centers established by the BIR and present the duly accomplished BIR Form 1701, together with the required attachments.<\/div>\n<\/li>\n<li>\n<div>Receive your copy of the duly stamped and validated form from the RDO\/Tax Filing Center representative.<\/div>\n<\/li>\n<\/ul>\n<p>Sometimes it get&#8217;s a little complicated that this, specially if it&#8217;s your first time to file your taxes. Our best advice for you to understand tax filing better, ask officers from BIR to help you, or your human resources personnel, or your accountant friends. So now, go and do your taxes because you have roughly about one week before doomsday.<\/p>\n<p><strong><em><a href=\"https:\/\/confirmsubscription.com\/h\/i\/77238488FF110D6D\" rel=\"nofollow noopener\" target=\"_blank\">Subscribe<\/a>\u00a0to our weekly newsletter and get Kalibrr Career Advice straight from your inbox! You can also follow us on\u00a0<a href=\"https:\/\/www.facebook.com\/Kalibrr\" rel=\"nofollow noopener\" target=\"_blank\">Facebook<\/a>,\u00a0<a href=\"https:\/\/twitter.com\/kalibrr\" rel=\"nofollow noopener\" target=\"_blank\">Twitter<\/a>, and\u00a0<a href=\"https:\/\/instagram.com\/kalibrr\" rel=\"nofollow noopener\" target=\"_blank\">Instagram<\/a>, or join\u00a0<a href=\"http:\/\/chats.viber.com\/careeradvice\" rel=\"nofollow noopener\" target=\"_blank\">Kalibrr\u2019s Viber public chat<\/a> for\u00a0more career advice.<\/em><\/strong><\/p>\n<\/div>\n<\/article>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s tax season and all your accountant friends are probably in a stressful state right now computing their company&#8217;s taxes. There is a portion of the human population in this world that\u00a0don&#8217;t like filing their income tax return (ITR) specially when they find out that they need to pay additional tax. But as much as [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":5925,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[18],"tags":[89],"_links":{"self":[{"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/posts\/5920"}],"collection":[{"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/comments?post=5920"}],"version-history":[{"count":0,"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/posts\/5920\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/media\/5925"}],"wp:attachment":[{"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/media?parent=5920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/categories?post=5920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/tags?post=5920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}