What is it?
BIR Form 1601-FQ, or the Quarterly Remittance Return of Final Income Taxes Withheld, is a tax form that is used to remit all other forms of final withholding taxes.
Much like form 1601-EQ, 1601-FQ forms can be used in remitting taxes withheld for the 3rd month of the quarter, following the provisions listed within the TRAIN law.
Who needs to file?
Any individual or non-individual considered a withholding agent is required to withhold (and deduct) taxes paid to employees. Now, if the agent required to withhold payments is a corporation, then the return shall be filed using the corporation’s name and should be verified by the president, vice president, or authorized officer and signed by the appointed treasurer or assistant treasurer.
When to file?
1601-FQ forms shall be filed not later than the last day of the month following the end of the taxable quarter during which the withholding tax was made.
How to File?
To file a BIR Form 1601-FQ in Fast File, follow the steps below:
STEP 1: From your portal, click on the Start Return button.
STEP 2: Select the Final Withholding Tax Return and hit Next.
STEP 3: Choose 1601FQ, then click the Next button.
STEP 4: Select the date of the transaction covered in this report. Choose from the Year and Quarter drop-down buttons, then click Next.
STEP 5: In the second section of the form, enter all background information properly based on your BIR Certificate of Registration (COR/Form 2303).
Certain parts of the form are already pre-populated based on the information that you have provided during the organization setup.
STEP 6: In the second section of the form, enter your Tax Details. This includes purchase transactions where a tax has been withheld based on your Vendor's Quarterly Income Tax. You can also enter the Alphanumeric Tax Codes (ATC) to properly identify the tax collections.
To produce a Quarterly Alphalist of Payees (QAP) attachment for your report, simply click the Summary Listing of Withholding button and start adding your source data.
Note: Please keep in mind that filing an attachment with your BIR Form 1601-FQ will incur an additional fee on top of the service fee per generation of forms.
Here’s what you need to know:
You can enter your source data either in the Summary Listing of Withholding or through the Main Table.
If you choose to enter your data in the Summary Listing of Withholding, all data will be picked up from there moving forward and the table will be disabled for manual entry. Fields for adding, editing, and deleting information will no longer be allowed.
Start adding your attachments.
i. Manually (by adding a line)
ii. Bulk import (using a CSV file)
i. Add Data - This button allows users to manually add the required information, such as:
Date
Reference Number
Registered Name (If non-individual)
Last Name(if an individual)
First Name
Middle Name
Net Amount
ATC
ii. Import QAP Data - If you already have your QAP file prepared, simply click the Browse button. If you don’t have one ready, you can also download the template from Fast File by clicking the blue text that says download.
Map out the necessary fields.
That’s it! The import of your data will keep running in the background, which means you won't have to wait for it and can move on to other tasks in the meantime.
Here are other Summary Listing of Withholding modal functionalities that are worth checking:
A. Import Status - status of your import and errors in your CSV file will appear here. You can also download the invalid data in your CSV file by clicking the Import error button found on the Tax Details section.
B. Remove Selected - this button will allow you to select and delete a whole line of
data from your Schedule.
C. Reset Data - this allows you to remove all the data inside the modal
STEP 7: In Part IV - Schedules section, start entering the Details of the Final Tax Based on Tax Treaty Rates. Treaty Code/Country No. and ATC will be shown and can be selected from their respective drop-down box.
STEP 8: In the last section, the TOTAL AMOUNT STILL DUE (item 32) is automatically calculated based on the sum of Tax Still Due (Over-remittance) and Total Penalties (items 27 and 31).
Just like that! You can now proceed to the payment stage by clicking the Filing Options button located on the top-right part of the page.
Please take note that your tax forms will be sent electronically to the BIR until 9 pm. Any forms that will be sent beyond that filing deadline will be transmitted within the next business day.
BIR Form 1601-FQ is straight-out simple to fill out and complete. Get started on your tax-compliance journey today and start filing at https://juan.tax/fast-file 🤗
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