Summary
RMC No. 23-2024 announces that BIR Form No. 1701A is now available in the Electronic Filing and Payment System (eFPS).
Key points
- The return. BIR Form No. 1701A is the Annual Income Tax Return for Individuals Earning Purely from Business/Profession, those under graduated rates with Optional Standard Deduction (OSD) or those who opted for the 8% flat income tax rate. It is filed on or before April 15 of each year for income of the preceding taxable year.
- If not yet listed. Mandated eFPS users check whether the return is in their eFPS list of returns. If not, they coordinate with their RDO and comply with its requirements for uploading the return.
- Use of eFPS. The return is filed and any tax paid through the eFPS, effective immediately.
Who is affected
- Mandated eFPS users and filers of BIR Form 1701A
- Individuals earning purely from business or profession
Deadlines and effectivity
- On or before April 15 of each year
- eFPS use effective immediately
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.