Get Ph Bir 1707 2018-2025

The PH BIR Form 1707 is essential for reporting capital gains tax resulting from the transfer of shares not traded on the local stock exchange. Completing this form accurately is crucial for compliance with the Bureau of Internal Revenue regulations.

Follow the steps to fill out the PH BIR 1707 online.

1. Click the ‘Get Form’ button to access the form and open it in your preferred editor.
2. Begin by entering the date of the transaction in MM/DD/YYYY format. Make sure this date accurately reflects when the transaction occurred.
3. Indicate whether this is an amended return by marking 'Yes' or 'No' in the appropriate box.
4. Enter the ATC code, either II 030 or IC 110, based on the type of transaction.
5. Complete the background information section by providing the seller's details: RDO code, name, registered address, and taxpayer identification number (TIN). Each field should be completed in capital letters.
6. Fill in the buyer's information similar to the seller’s section, including their name, registered address, and TIN.
7. If applicable, indicate if you are availing of tax relief under a special law or international tax treaty. Provide the relevant details.
8. Provide a description of the transaction and select the appropriate type of sale, marking one of the options such as cash sales, installment sales, or foreclosure sales.
9. Proceed to the computation of tax section. First, calculate the taxable base, then subtract the cost and other allowable expenses to find the net capital gain or loss.
10. Calculate the tax due on the entire transaction by multiplying the net capital gain or loss by the applicable tax rate.
11. Determine the total amount payable or overpayment by adding any penalties and subtracting any taxes paid from the previous return if this is an amended return.
12. Sign the form at the designated area, providing your printed name, title, and TIN. Ensure all necessary attachments are included.
13. Review all entries for accuracy, then save the completed form. Options for sharing include downloading or printing the document for submission.

Start completing your BIR Form 1707 online today to ensure timely and accurate filing.