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February 27, 2024PHILIPPINE STOCK EXCHANGE, INC. 6/F PSE Tower 5th Avenue corner 28th Street Bonifacio Global City, Taguig City Attention: MS. MARIGEL M. BANIQUED GARCIA Head, Issuer Regulation DivisionPHILIPPINE
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What is March 16 form Philippine?
The March 16 form in the Philippines refers to the BIR Form 1701 which is the Income Tax Return for individuals earning mixed income or purely self-employed income. It is used to report annual income and calculate the corresponding tax obligations.
Who is required to file March 16 form Philippine?
Individuals who earn mixed income, those who are self-employed, or those engaged in business are required to file the March 16 form, including professionals and individuals earning income from various sources.
How to fill out March 16 form Philippine?
To fill out the March 16 form, taxpayers need to provide personal information, report all sources of income, and deduct allowable expenses. The appropriate tax rates should be applied based on their taxable income.
What is the purpose of March 16 form Philippine?
The purpose of the March 16 form is to ensure compliance with tax laws by allowing individuals to report their annual income and calculate the tax liabilities owed to the government.
What information must be reported on March 16 form Philippine?
The information that must be reported includes personal details, types and amounts of income earned, deductibles, tax credits, and the total tax due for the year.
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