PH BIR Form 2307 2003 free printable template

The Quarter. Signature Over Printed Name. For the Quarter. Title/Position of Signatory. Payee/Payee×39’s Authorized Representative ... 2307. March 2003 (ENDS) ...

How to fill out PH BIR Form 2307

How to fill out PH BIR Form 2307

1. Download the PH BIR Form 2307 from the BIR website or obtain it from your local BIR office.
2. Fill in the Taxpayer Identification Number (TIN) of the payee at the top of the form.
3. Write the name of the payee and their address in the designated fields.
4. Indicate the date of payment in the appropriate section.
5. Specify the amount paid to the payee.
6. Provide the details of the withholding tax rate applicable.
7. Calculate the withholding tax amount based on the payment and rate.
8. Include the name and TIN of the withholding agent in the relevant sections.
9. Sign and date the form to certify that the information provided is accurate.

Who needs PH BIR Form 2307?

1. Entities who are required to withhold taxes for payments made to freelancers, contractors, or suppliers are mandated to issue PH BIR Form 2307.
2. Individuals and corporations that have a withholding tax obligation under Philippine tax regulations need this form.

• Who needs BIR Form No. 2307?
• What is BIR Form No. 2307 Used for?
• Is BIR Form No. 2307 Accompanied by Other Forms?
• When is BIR Form No. 2307 due?
• • What Information Should be Provided in BIR Form No. 2307?

Who needs BIR Form No. 2307?

A BIR Form No. 2307 is an essential document for both employees doing freelance jobs on the side and employers who accept project-based or freelance employees and freelancers.

What is BIR Form No. 2307 Used for?

BIR Form No. 2307 is also called a Certificate of Creditable Tax Withheld At Source. This Form is an obligation of the mayor and/or employer — withholding tax agent to the payee.

Is BIR Form No. 2307 Accompanied by Other Forms?

This form must be filed together with the Quarterly/Annual Income Tax Return —?? BIR Forms 1701Q / 1701 for individuals, or BIR Form 1702Q/ 1702 for non-individuals.

For Percentage Taxes on Government Money Payments this Certificate has to be attached to the Quarterly Percentage Tax return (BIR Form No. 2551M and 2551Q).

For VAT Withholding — This Certificate is to be attached to the Monthly VAT Declaration (BIR Form No. 2550M) and Quarterly VAT Return (BIR Form No. 2550Q).

When is BIR Form No. 2307 due?

For Expanded Withholding Tax must be filed on or before the 20th day of the month following the close of the taxable quarter.

For both Percentage Tax On Government Money Payments and VAT Withholding the Form has to be issued on or before the 10th day of the month following the month in which withholding was made.

What Information Should be Provided in BIR Form No. 2307?

The taxpayer has to indicate the following information:

• Taxable (accounting) period 
• Payee information including Name, Address, Taxpayer Identification Number 
• Mayor information including Name, Address, Taxpayer Identification Number 
• Income Payments Subject to Expanded Withholding Taxpayer
• Money Payments Subject to Withholding of Business Tax (Government & Private)

Where do I send BIR Form No. 2307?

This shall be filed while sending the income tax return form with an Authorized Agent Bank located within the territorial jurisdiction of the Revenue District Office where the taxpayer is required to register or where the taxpayer has his legal residence or place of business in the Philippines.

If there are no Authorized Agent Banks where the taxpayer is registered, Form should be filed either with the Revenue District Office or Municipal Treasurer of the Revenue District Office where the taxpayer is required to register or where the taxpayer has his legal residence or place of business in the Philippines.

If the taxpayer has neither legal residence nor place of business in the Philippines, a BIR Form No. 2307 should be filed with the Office of the Commissioner or Revenue District No. 39.

What is bir form 2307?

Form 2307 a.k.a Certificate of Creditable Tax Withheld at Source is a certificate to be accomplished and issued to recipients of income subject to expanded withholding tax paid by a Payor/Withholding Agent. Issuance of BIR 2307 form is an obligation of the payor - withholding tax agent to the payee.

People Also Ask about

What is the meaning of creditable withholding tax?

Creditable Withholding Tax - A kind of withholding tax is prescribed on certain income payments and is creditable against the income tax due of the payee for the taxable quarter/year in which the particular income was earned.

What is the difference between final withholding tax and creditable withholding tax?

Final Withholding Tax is a kind of withholding tax which is prescribed on certain income payments and is not creditable against the income tax due of the payee on other income subject to regular rates of tax for the taxable year.

What is EWT?

Expanded Withholding Tax Rates These include licensed professionals such as lawyers, engineers, doctors, CPA, etc. If their salary is 720,000 and below, their EWT rate is 10% If their salary is above 720,000, it is 15%

Is creditable withholding tax a current asset?

Improper claiming of creditable withholding tax The BIR Form No. 2307 shows that the tax withheld by your suppliers are tax deductions or creditors from income tax liability. On books, it is treated as an asset and sometimes, the financial statements would display such asset amount that could have been used.

How do you calculate 2307?

With Creditable Withholding Tax (BIR FORM 2307) Compute the amount of withholding tax by multiplying the amount of gross sales by the applicable withholding tax rate. Compute the net amount to be collected by deducting the amount of withholding tax from the amount of sales.

What is creditable tax withheld at source?

The BIR Form 2307, known as the Certificate of Creditable Tax Withheld at Source, is a certificate that is accomplished and issued to recipients of income subject to expanded withholding tax. It's one of the most common BIR forms used by businesses of all sizes from multinational corporations to freelancers.

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What is PH BIR Form 2307?

PH BIR Form 2307 is a tax form used in the Philippines by taxpayers to report creditable tax withheld on income payments.

Who is required to file PH BIR Form 2307?

Businesses and individuals making income payments subject to withholding tax are required to file PH BIR Form 2307.

How to fill out PH BIR Form 2307?

To fill out PH BIR Form 2307, you need to provide the taxpayer's information, details of the income payment, the amount withheld, and the applicable withholding tax rate.

What is the purpose of PH BIR Form 2307?

The purpose of PH BIR Form 2307 is to serve as a certificate of creditable income tax withheld, which can be used by taxpayers to offset their income tax liabilities.

What information must be reported on PH BIR Form 2307?

The information that must be reported on PH BIR Form 2307 includes the name and TIN of the payor and payee, the amount of income payment, the amount of tax withheld, and the date of payment.