Here's a video that you can follow!
No more worrying about your Annual Income Tax return. You can now file your BIR Form 1701 via Taxumo!
*For users who are registered as BMBEs or those who have a special/preferential rate, the form is NOW AVAILABLE!
Here are the Steps on how to file:
If you haven't setup your account yet please refer to this article to get started!
I'm New to Taxumo and I want to file my Annual ITR (1701A)
If you already have an existing Taxumo account, all you need to do is activate the Form on your company profile. To do this, simply follow the steps listed below.
1.) To start the process of filing your 1701, click on the FILE Now button beside the Annual Income Tax Return Card.
2.) You will then be asked a series of questions.
3.) If you are a Mixed Income Earner, input the details of your employer and the compensation income you received for the year you are reporting your 1701 for.
4. Input your Non-Taxable Compensation here.
5. From your business or your profession, you will be asked to input the following details.
6. For ITEMIZED deduction method users, these fields should reflect the summary of the deductible expenses that inputted in your account. If you do not have any inputs yet, you may edit the fields accordingly.
7. If there are deductions from your income that had been remitted to another government agency, input them here.
8. From your business or profession, input the following details on Tax Credits/Payments.
*Note: If filing your Form 1701 will be the first form you will file via Taxumo, kindly take note that AFTER you have filed your Form 1701 for the Annual ITR, you still have to file the Quarterly Income Taxes (1701Q) of your business or profession.
9. If you need to declare Non-Deductible Expenses or NOLCO (Non-Operating Loss Carry Over), input them here.
9. Afterwards, you will then be asked to fill in your details, and choose an Overpayment Option. This means that should you incur excess income taxes, you have the option to choose whether you want a refund or you want those excess taxes be credited to the following year's income taxes.
You also have the option to pay your Annual Income Tax dues in installment of up to 50%. The remaining amount that you will not be filing and paying for immediately will have to be settled on or before October of the current year.
10. After you have filled in all of the required fields, click PROCEED, and then you will see a computation of your income tax due.
12. Once you verify the details presented, click on PROCEED TO CHECKOUT:
13. Choose your preferred payment method and click on the Pay Now button.
14. Follow the instructions on your chosen payment gateway.
15. That’s it! You’re done.