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GUIDE FOR INTERACTIVE FORMS BIR FORM NO. 1700:ANNUAL INCOME TAX RETURN INDIVIDUALS EARNINGPURELY COMPENSATION INDOMITABLE OF CONTENTS.×Introduction to Interactive Forms×3 A.×What is an Interactive
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Annual income tax return is a form that individuals or businesses must fill out and submit to the government reporting their income, expenses, and other financial information for a specific tax year.
Individuals or businesses with taxable income above a certain threshold determined by the government are required to file an annual income tax return.
To fill out an annual income tax return, individuals or businesses need to gather their financial documents such as income statements, receipts, and deductions, and then follow the instructions provided in the tax form.
The purpose of an annual income tax return is to calculate the amount of tax owed to the government based on the reported income and expenses, and to ensure compliance with tax laws.
On an annual income tax return, individuals or businesses must report their income, deductions, credits, and other financial information as required by the tax laws.
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