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8box Solutions Inc.

4_20230710_150500_0001

Contact Number: 09369340340
Email: sales@8box.solutions

REVENUE MEMORANDUM CIRCULAR NO. 32-2018 issued on May 9, 2018 prescribes and circularizes the Revised BIR Form No. 1701Q (Quarterly Income Tax Return) January 2018 (ENCS), in line with the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law.

        Said newly-revised return shall be used by the taxpayers in filing their quarterly Income Tax return and paying the corresponding tax due thereon starting the 1st Quarter of 2018.

      Manual filers can download the PDF format of BIR Form No. 1701Q from the BIR website (www.bir.gov.ph under the BIR Forms-Income Tax Return section), print it and fill out the applicable items/fields.

       eBIRForms filers shall use the newly-revised BIR Form No. 1701Q (available in the Offline eBIRForms Package v7.1) in filing and paying their Quarterly Income Tax due starting the 1st Quarter of 2018.

         The newly-revised return is not yet available in the eFPS. As a work-around procedure, the eFPS filers shall use the newly-revised return in the Offline eBIRForms Package v7.1 to file their Quarterly Income Tax return.

       Payment of the Income Tax due thereon by manual/eBIRForms/eFPS filers shall be made as follows:

          For Manual Payment

  • Through Authorized Agent Bank (AAB) located within the territorial jurisdiction of the Revenue District Office (RDO) where the taxpayer is registered
  • In places where there are no AABs, the return shall be filed and the tax due shall be paid with the concerned Revenue Collection Officer (RCO), thru the Mobile
  • Revenue Collection Officers System (MRCOS) facility, under the jurisdiction of the RDO.

          For Online Payment

  • Through GCash Mobile Payment
  • Through Landbank of the Philippines (LBP), Linkbiz Portal, for taxpayers who have
  • ATM account with LBP and/or holders of Bancnet ATM/Debit Card
  • Through DBP Tax Online, for holders of VISA/Master Credit Card and/or Bancnet
  • ATM/Debit

         In case the manual/eBIRForms/eFPS filers had already filed and paid the Income Tax due for the 1st Quarter using the old return, the taxpayer is still required to file the quarterly Income Tax return using the newly-revised BIR Form No. 1701Q and mark the return as an amended return. This is to determine whether or not the taxpayer is availing of the 8% Income Tax rate based on the gross sales/receipts and other non-operating income in lieu of graduated rates.

     Said taxpayer shall indicate in the newly-revised return the payment, if any, he/she made using the old return. If the computation resulted to a payable amount, the taxpayer shall pay the tax still due thereon. Penalties shall apply if payment is made after the due date. If the result is no payment/overpayment, the taxpayer shall file the “No Payment Return” thru the use of eBIRForms.

       Taxpayer shall signify his/her intention to elect the 8% Income Tax rate either by updating his/her registration using the BIR Form No. 1905 or by checking/clicking Item No. 13 in BIR Form No. 2551Q or Item No. 16 in BIR Form No. 1701Q, and such election/option shall be irrevocable for the taxable year.