What is this form?
BIR Form 1700, also known as Annual Income Tax Return For Individuals Earning Purely Compensation Income (Including Non-Business/Non-Profession Related Income)
Who should file this form?
This return shall be filed by every resident citizen deriving compensation income from all sources, or resident alien and non-resident citizen with respect to compensation income from within the Philippines.
When to file this form?
On or before the 15th day of April of each year covering taxable income for the calendar year and thereafter.
How to File?
To file a BIR Form 1700 in Fast File, follow the steps below:
STEP 1: From your portal click on the Start Return button.
STEP 2: Select Income Tax Return and hit Next.
STEP 3: Choose 1700 then click the Next button.
STEP 4: Select the date of the transaction covered in this report. Choose from the Year drop-down list then click Next.
STEP 5: In the second section of the form, enter all the Tax Filer / Spouse's Background information properly based on your BIR Certificate of Registration (COR / Form 2303).
Select your Taxpayer Type (item 6)
Employee (Regular Rates) or
NRANETB* (25%).
Certain parts of the form are already pre-populated based on the information that you have provided during the Organization setup.
STEP 6: If you are single, you can simply skip the Background Information (Spouse) section. If you are married, fill out this part with your spouse's details.
STEP 7: Proceed to the Tax Details section for the computation of your income tax associated with the tax rate you are subjected to.
A. If subject to Graduated Rates, fill in items 42 to 47;
B. If subject to Non-resident Alien not engaged in trade and business (NRANETB) with a flat rate of 25%, fill in items 48 to 53.
C. On the Tax Credits section, the Certificate of Income Tax Withheld (2316) issued by employers should be attached upon the filing of BIR Form 1700 to validate the claim of your tax credit. (Individuals filing BIR Form 1700 must secure a copy of all their 2316 from all of their employers for the taxable year.)
Note: You can view a PDF version of the BIR 2316 form and check the annualized tax withheld in the Total Amount of Taxes Withheld As Adjusted (item 31).
STEP 8: In Schedule 1 – Gross Compensation Income and Tax Withheld (items 1,2,3, and 4), enter the required information for each of your employer/s and mark the item field with (X) where the information belongs to (Taxpayer or spouse). The information should be inputted on their respective item numbers even if both parties belong to the same employer.
On Item 5A, enter the Total Gross Compensation and Total Tax Withheld for the Taxpayer while Item 5B, belongs to the Spouse.
Reminder: DO NOT enter Centavos; 49 Centavos or Less drop-down; 50 or more round up.
STEP 7: The Summary of Tax Due/Overpayment section is also pre-populated with the exact information included in your actual tax form. That is why you need to go through all of the sections to make sure you that are filing an accurate return.
Once you're done filling up the tax form, click the Filing Options button located on the upper-right part of the page to allow the platform to determine if there are fields that have been overlooked.
Below is a sample pop-up message that will appear if a certain field hasn't been filled out properly.
STEP 8: Once all the data is validated and correct, click the Filing Options button again then check your billing charges. To proceed to the payment stage, simply click the File Now button.
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.
Helpful Links:
Go to Fast File - To fill out and complete your BIR Form 1700 and get started on your tax-compliance journey today
Visit Academy - For a detailed discussion on how easy it is to populate, file, and pay tax form 1700 in Fast File
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