Filing your annual taxes can be a daunting task, but staying informed about the necessary forms and filing requirements is crucial for compliance. Below, we delve into three essential BIR (Bureau of Internal Revenue) forms that employers and withholding agents in the Philippines must file annually: BIR Form No. 1604-C, BIR Form No. 1604-F, and BIR Form No. 1604-E.
BIR Form No. 1604-C - Annual Information Return of Income Taxes Withheld on Compensation
Description
This form is to be filed by every employer or withholding agent/payor who is required to deduct and withhold taxes on compensation paid to employees. This includes individuals, estates, trusts, partnerships, corporations, government agencies and instrumentalities, government-owned and controlled corporations, local government units, and other juridical entities.
Filing Date
The deadline for submission is on or before January 31 of the year following the calendar year in which the compensation payments were made.
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BIR Form No. 1604-F - Annual Information Return of Income Payments Subjected to Final Withholding Taxes
Description
This form is for withholding agents/payors who are obligated to deduct and withhold taxes on income payments subject to Final Withholding Tax. The tax rates and types of income payments subject to final withholding taxes are outlined in forms 1601-FQ, 1602Q, and 1603Q.
Filing Date
Submit this form on or before January 31 of the year following the calendar year in which the income payments were made or accrued.
Resources:
BIR Form No. 1604-E - Annual Information Return of Creditable Income Taxes Withheld (Expanded)/Income Payments Exempt from Withholding Tax
Description
This form is designed for withholding agents/payors who are responsible for:
Deducting and withholding taxes on income payments subject to Expanded Withholding Taxes.
Reporting income payments that are not subject to withholding tax but are subject to income tax.
Entities required to file include individuals, estates, trusts, partnerships, corporations, government agencies, government-owned and controlled corporations, local government units, and other juridical entities.
Filing Date
The deadline is on or before March 1 of the year following the calendar year in which the income payments were made or accrued.
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Key Takeaways
To avoid penalties and ensure compliance, it is essential to submit these forms within their respective deadlines. Proper documentation and accurate reporting will make your annual tax filing smoother and more efficient.
For further information, you may consult the Bureau of Internal Revenue’s official website or contact their customer support for assistance.
Stay on top of your tax obligations and download the forms today!