RMC No. 50-2021: Prescribes guidelines in the filing and payment of Annual Income Tax Return by Non-Individual Taxpayers for the Taxable Years Ending July 31, 2020 to June 30, 2021

Key points

1. Filing facility. Non-individual taxpayers, eFPS or non-eFPS, file the AITR using Offline eBIRForms Package v7.9, downloadable from www.bir.gov.ph and www.knowyourtaxes.ph. The Circular lists eight steps from download and install through validate, submit and receipt of the Tax Return Receipt Confirmation by e-mail.
2. Modified forms. BIR Form Nos. 1702-RT, 1702-MX and 1702-EX version 2018 now carry the letter C after the version date: 1702-RTv2018C, 1702-MXv2018C and 1702-EXv2018C. Automatic computation of tax due is disabled, and the taxpayer indicates the applicable rate from the transitory rates matrix by taxable period.
3. Transitory rates. The matrix gives rates by fiscal year end, from FY 7-31-20 through FY 6-30-21, for regular corporate income tax, other domestic corporations with net taxable income of 5M or less and total assets of 100M or less (exclusive of land), MCIT, and proprietary non-profit educational institutions and hospitals. Rates move gradually toward 25%/20%/1%/1% for FY 6-30-21.
4. Payment by non-eFPS filers. Manual payment is at any Authorized Agent Bank per RMC No. 41-2021, or with the Revenue Collection Officer of any RDO where there is no AAB. Online options are GCash/PayMaya, Landbank Link.BizPortal, DBP Tax Online, Union Bank Online and PESONet through LBP Link.BizPortal for RCBC, Robinsons Bank, Union Bank and BPI account holders.
5. Payment by eFPS filers. After submitting through eBIRForms, eFPS filers e-file BIR Form No. 0605 and pay through eFPS using Tax Type Income Tax (IT) and ATC MC 200.

Who is affected

• Non-individual taxpayers, eFPS and non-eFPS filers, with taxable years ending July 31, 2020 to June 30, 2021

Deadlines and effectivity

• Covers taxable years ending July 31, 2020 to June 30, 2021