Get 1702rt

0:24 52:33 Suggested clip Guide in filing BIR Form 1702-MX - YouTubeYouTubeStart of suggested clipEnd of suggested clip Guide in filing BIR Form 1702-MX - YouTube

1702-MX to be used by non-individuals with mixed income subject to multiple income tax rates, or with income subject to special or preferential rate in filing the annual income tax return and paying the income tax due on or before 15 April 2019.

Minimum wage earners are exempted from income tax and consequently from withholding tax. Those whose annual income does not exceed P250,000 are also not subject to withholding tax. But even then, employers still must file a BIR Form No. 1601-C to report to the Bureau of Internal Revenue that they have employees.

BIR form 1702-RT, or also known as Annual Income Tax Return for Corporation, Partnership and Other Non-Individual Taxpayer Subject Only to REGULAR Income Tax Rate is a tax form which is filed by non-individual taxpayers whose earnings are subject to income tax rate of 30%.

Tax returns need not be filed by the following categories of individual: those earning purely compensation income whose taxable income does not exceed two hundred fifty thousand pesos (250,000.00 Philippine peso (PHP))

In the case of a change in the annual accounting period of a taxpayer, a separate return must be filed for the short period of less than 12 months beginning with the day following the close of the old taxable year and ending with the day preceding the first day of the new taxable year.

Minimum Corporate Income Tax (MCIT) It is imposed from the beginning of the fourth taxable year immediately following the commencement of the business operations of the corporation.

1601-C Monthly Remittance Return of Income Taxes Withheld on Compensation. Guidelines and Instructions. Who Shall File. This return shall be filed in triplicate by every withholding agent (WA)/payor who is either an individual or non-individual, required to deduct and withhold taxes on compensation paid to employees.

16:45 18:03 Suggested clip How to Fill-up BIR Form 1601-C - YouTubeYouTubeStart of suggested clipEnd of suggested clip How to Fill-up BIR Form 1601-C - YouTube

Tax returns need not be filed by the following categories of individual: those earning purely compensation income whose taxable income does not exceed two hundred fifty thousand pesos (250,000.00 Philippine peso (PHP))