As we head towards the end of the third taxable quarter, we’ll be counting down the BIR tax forms that you have to file for this month using our tax software.
Remember that with JuanTax, there’s no need to download and install anything. Simply generate, enter transactions and file those returns!
So without further ado, here are the tax forms that you need to file for October 2018:
Quarterly ITR (Non-Individual)
Note: Deadline for submission of quarterly income tax return is on or before the 60th day following the close of each quarter of taxable year. This deadline is intended for quarter ending in August 2018 (July-August).
For corporations, partnerships and other non-individual taxpayers, you need to file tax form 1702Q (Quarterly Income Tax Return). Check out this article to learn more on how to generate this tax form in JuanTax.
For VAT Filers
- Value-Added Tax filers needs to submit monthly tax forms such as 2550M or Monthly Value-Added Tax Declaration.
- SLSP or Summary Lists of Sales and Purchases, which is a type of DAT file that would serve as a reference attachment to your submitted VAT return.
For Withholding Purposes
Are you a business owner who’s managing employee/professionals or someone who’s renting an office space, etc.? Then here are some of the tax forms that you need to file as the withholding agent:
Quarterly Remittance Returns
Note: For businesses that follows fiscal year as their financial year, please be reminded that quarterly tax filings are intended for quarter end of August 2018, and depends on your designated fiscal period.
For the month of October, you would need to file tax forms such as:
- 1601-EQ or Quarterly Remittance Return of Creditable Income Taxes Withheld
- 1601-FQ or Quarterly Remittance Return of Final Income Taxes Withheld
- QAP or Quarterly Alphabetical List of Payees – a form of DAT file consisted of all payees that were included in both your 1601-EQ/1601-FQ return.
Compensation
- 1601-C or Monthly Remittance Return of Income Taxes Withheld on Compensation has to be filed by the withholding agent who deducts and withhold taxes on compensation paid to employees.
Tax Certificates
Tax certificates such as 2306 (Certificate of Final Income Tax Withheld) and 2307(Certificate of Creditable Tax Withheld at Source) needs to be submitted by a withholding agent to recipients whose income is subject from either “final withholding” or “expanded withholding” tax. Visit this article to learn more on how to create tax certificates using JuanTax.
Other Quarterly Filings
Aside from quarterly remittance of withholding taxes, October is also the month where you need to file quarterly-based taxes such as 2550Q (Quarterly Value-Added Tax Returns) and 2551Q or Quarterly Percentage Tax Returns.
Filing your 1601-EQ, 1601-FQ, 1702Q and 1601-C? Let JuanTax help you in doing your taxes right, minus the hassle in data entry and calculations!
JuanTax is a Philippine-based cloud tax software which helps businesses in achieving compliance with the Bureau of Internal Revenue (BIR) when it comes to filing local taxes including Income Tax Returns, VAT, Percentage Tax and Withholding Tax.
Still don’t have a JuanTax account? Visit our website at https://juan.tax/ and Sign up for a free trial!
