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Guidelines and Instructions for BIR Form No. 1700 June 2013 (ENDS) Annual Income Tax Return For Individuals Earning Purely Compensation Income (Including Non-Business/Non-Profession Income) These

How to fill out bir form 1700 guidelines

How to Fill Out BIR Form 1700 Guidelines:

1. Ensure that you have all the necessary information and documents before starting to fill out the BIR Form 1700. These include your taxpayer identification number, personal details, and income records for the taxable year.
2. Begin by filling out the taxpayer's identification number (TIN), name, and registered address in the appropriate sections of the form. Make sure to double-check the accuracy of these details to avoid any discrepancies.
3. Proceed to the "Part I - Background Information" section. Here, provide information regarding your civil status, dependents, and the number of exemptions you are claiming. Fill in the corresponding boxes and answer all the necessary questions accurately based on your personal circumstances.
4. In the "Part II - Gross Compensation Income and Tax Withheld" section, document all your income sources subject to tax for the taxable year. This includes your salary, bonuses, commissions, and other taxable compensation. Make sure to indicate the corresponding amounts in the appropriate boxes.
5. Provide details regarding your tax withheld under the "Part III - Tax Withheld for Compensation" section. This includes the total amount of tax withheld from your salary and other compensation during the taxable year, as reflected in your income documents such as Form 2316.
6. If applicable, proceed to the "Part IV - Additional Exemption of Minimum Wage Earners" section. This part is necessary for individuals who qualify as minimum wage earners and are entitled to additional exemptions. Fill out the required information accurately, following the given instructions.
7. Complete the "Part V - Other Taxable Income" section if you have any additional taxable income aside from compensation. Provide a detailed breakdown of these income sources and the corresponding amounts.
8. In the "Part VI - Deductions and Personal Exemptions/Exemptions" section, calculate and document any deductions and personal exemptions you are eligible for under the BIR guidelines. This includes contributions to the Social Security System (SSS), Pag-IBIG Fund, PhilHealth premiums, and other deductible expenses.
9. Calculate the total income tax due and the amount of tax deductible/withheld as indicated in the form. Review your entries to ensure accuracy.
10. Finally, affix your signature, along with the date of filing, at the bottom of the form. Ensure that all the required attachments, such as the Certificate of Compensation Payment/Tax Withheld (BIR Form 2316), are properly attached.

Who Needs BIR Form 1700 Guidelines:

1. Individuals who receive compensation income subject to withholding taxes are required to fill out BIR Form 1700. This includes employees working for private companies, government agencies, and self-employed professionals.
2. Any taxpayer who qualifies as a minimum wage earner and claims additional exemptions can also benefit from filling out BIR Form 1700 by reducing their taxable income.
3. It is important to note that the guidelines provided on filling out BIR Form 1700 are relevant to Filipino taxpayers and residents who are required to comply with the tax regulations set by the Bureau of Internal Revenue (BIR) in the Philippines.

For pdfFiller’s FAQs

What is bir form 1700 guidelines?

BIR Form 1700 guidelines refer to the guidelines provided by the Bureau of Internal Revenue (BIR) for filling out and submitting Form 1700, which is the Annual Income Tax Return for individuals earning purely compensation income.

Who is required to file bir form 1700 guidelines?

Individuals who earn purely compensation income or those who are employed by a single employer during the taxable year are required to file BIR Form 1700.

How to fill out bir form 1700 guidelines?

BIR Form 1700 can be filled out manually or electronically through the BIR's eFPS (Electronic Filing and Payment System) or eBIRForms. The form must be accurately completed with all necessary information including personal details, income details, deductions, and tax computation.

What is the purpose of bir form 1700 guidelines?

The purpose of BIR Form 1700 is to report an individual taxpayer's compensation income, deductions, exemptions, and tax payable for the taxable year.

What information must be reported on bir form 1700 guidelines?

The information that must be reported on BIR Form 1700 includes personal details, income details, deductions, exemptions, tax computations, and other relevant information related to the taxpayer's compensation income.

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