What is BIR form 1701 AIF?

1701-AIF Account Information Form (AIF) for Self-employed Individuals, Estates and Trusts (engaged in trade and business) A revised BIR form designed in line with the BIR Integrated Tax System (ITS) to be used as attachment to BIR Form No.

What is AIF BIR?

Account Information Form (AIF) or the Certificate of the independent CPA with Audited Financial Statements, if the gross annual sales, earnings, receipts or output exceed P3,000,000.

Who are required to file BIR form 1701?

1701 shall be filed by individuals who are engaged in trade/business or the practice of profession including those with mixed income (i.e.., those engaged in the trade/business or profession who are also earning compensation income) in accordance with Sec. 51 of the code, as amended.

What is the purpose of BIR form 1701?

BIR Form 1701, also known as Annual Income Tax Return for Self-Employed Individuals, Estates and Trusts is a tax form which summarizes all the transactions made over the tax calendar year.

What should I use 1701 and 1701A?

What Is the Difference Between Form 1701 and 1701A? The main difference between the forms is that form 1701 is for those with mixed-income (eg. someone who is both a freelance writer and a teacher), while 1701A is for those whose income is only coming from his/her business or profession (eg.

Who are qualified for substituted filing in the Philippines?

Employees who are purely compensation income-earners from only one employer for the calendar year and whose income tax has been withheld correctly by said employer are qualified for substituted filing and do not need to file an annual Income Tax Returns (ITR) separately.

How do I file a 1701?

You will need to prepare the following attachments for filing your annual income tax returns. Certificate of Income Tax Withheld at Source (BIR Form 2307), if claiming tax credit. Certificate of Income Payments not Subjected to Withholding Tax (BIR Form 2304) if applicable. Duly approved Tax Debit Memo, if applicable.

How do I file a 1701 BIR?

What is the difference between BIR form 1700 and 1701?

1700 while self-employed individuals should file either the Annual Income Tax Return for Individuals Earning Purely from Business or Profession (BIR Form No. 1701A) or the Annual Income Tax Return for Individuals including Mixed Income Earner, Estates and Trusts (BIR Form No. 1701).

What is the difference between 1701 and 1701A?

1701 is for those with mixed-income (eg. someone who is both a freelance writer and a teacher), while 1701A is for those whose income is only coming from his/her business or profession (eg. a full-time freelance writer or a bakery owner).

How do I file my income tax return 1701?

Whats the difference between 1701 and 1701A?

The main difference between the forms is that form 1701 is for those with mixed-income (eg. someone who is both a freelance writer and a teacher), while 1701A is for those whose income is only coming from his/her business or profession (eg. a full-time freelance writer or a bakery owner).