BIR Form 1601-EQ or the Quarterly Remittance Return of Creditable Income Taxes Withheld is a tax form that can be used in remitting taxes that are withheld during the 3rd month of each taxable year.
To start generating your 1601-EQ report, you'll just have to access your dashboard and go to Withholding Tax Return, then proceed to 1601-EQ tab.
Follow these steps in creating your 1601-EQ report:
STEP 1: Click Plus Icon (+) Generate Report, then click Accept and Continue
STEP 2: Select the Month and Year, click Generate
You can start adding transactions by either:
By adding them manually
By importing CSV format transactions
Adding Transaction(s) Manually
In the QAP Data section, you can start creating reports:
STEP 1: Click plus icon (Add Transaction) or the Create Transaction button
STEP 1A: Select a Vendor or Add Vendor
or
STEP 1B: If vendor isn't a part of your contacts, you can easily add them by clicking the Add as New Contact
STEP 1B: Fill out all the important information of the vendor. Click Save button to continue
STEP 2: Add other information such as Description,Reference No., Date, Amount and ATC, Click Save
STEP 4: You can edit, delete, bulk edit, export, search and navigate through your transactions list
Preview of the Report
You can also access a preview of the actual report by clicking on the Report tab next to Summary.
Over Remittance in Reports
An over remittance will be shown in your report in the form of a negative number, and is located in Section 25 as well as reflecting in Section 30 of your 1601-EQ form.
You have the option to choose whether your amount should
(1) refunded
(2) issued tax credit certificate
(3) carried over the next quarter
Notes and Activity
To see the audit trail of activities made within the report, all you need to do is to click the Notes & Activity tab.
Filing the Report
Simply file your report by following the guidelines mentioned in this article through our Help site.
Paying the Return
Follow the steps in this article for you be to able to pay your filed tax return in JuanTax.