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MAKE SURE OF THE FOLLOWING: In the >Tools>Macro>Security select "Meduim" and always "Enable Macros" on opening Check the first 2 items (with words "Analysis Toolpak") and Lookup Wizard in >Tool

BIR Form 2316 and 1700 Template

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Philippine use. Download as MS Excel file. Use this template to speed up filing of individual income tax (while the forms are not yet changed). Ideal for institutions who aims to give a little help to their employees.

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Page 1: BIR Form 2316 and 1700 Template

MAKE SURE OF THE FOLLOWING:

In the >Tools>Macro>Security select "Meduim" and always "Enable Macros" on opening this document.Check the first 2 items (with words "Analysis Toolpak") and Lookup Wizard in >Tools>Add-Ins

Page 2: BIR Form 2316 and 1700 Template

In the >Tools>Macro>Security select "Meduim" and always "Enable Macros" on opening this document.

Page 3: BIR Form 2316 and 1700 Template

TAXABLE INCOME TAX DUE

Over Not over Amount Rate

- - 10,000.00 5.00%

10,000.01 10,000.00 30,000.00 500.00 10.00%

30,000.01 30,000.00 70,000.00 2,500.00 15.00%

70,000.01 70,000.00 140,000.00 8,500.00 20.00%

140,000.01 140,000.00 250,000.00 22,500.00 25.00%

250,000.01 250,000.00 500,000.00 50,000.00 30.00%

500,000.01 500,000.00 125,000.00 32.00%

Page 4: BIR Form 2316 and 1700 Template
Page 5: BIR Form 2316 and 1700 Template

SEQ YEAR

COVERAGE EMPLOYEE'S NAME

From To First Middle Last

1 2010 01-Jan 31-Dec First-01 Middle-01 Surname-01

2 2010 01-Jan 31-Dec First-02 Middle-02 Surname-02

3 2010 01-Jan 31-Dec First-03 Middle-03 Surname-03

4 2010 01-Jan 31-Dec First-04 Middle-04 Surname-04

5 2010 01-Jan 31-Dec First-05 Middle-05 Surname-05

6 2010 01-Jan 31-Dec First-06 Middle-06 Surname-06

7 2010 01-Jan 31-Dec First-07 Middle-07 Surname-07

8

9

10

Page 6: BIR Form 2316 and 1700 Template

EMPLOYEE'S NAME

TINDATE OF BIRTH

Surname-01, First-01 Middle-01 Surname-01, First-01 M. 27-Aug-1981 Adress 01 111-111-111-000

Surname-02, First-02 Middle-02 Surname-02, First-02 M. 13-Feb-1967 Adress 02 222-222-222-000

Surname-03, First-03 Middle-03 Surname-03, First-03 M. 07-Mar-1976 Adress 03 333-333-333-000

Surname-04, First-04 Middle-04 Surname-04, First-04 M. 07-Jan-1976 Adress 04 444-444-444-000

Surname-05, First-05 Middle-05 Surname-05, First-05 M. 10-Oct-1975 Adress 05 555-555-555-000

Surname-06, First-06 Middle-06 Surname-06, First-06 M. 25-Jan-1970 Adress 06 666-666-666-000

Surname-07, First-07 Middle-07 Surname-07, First-07 M. 19-Dec-1975 Adress 07 777-777-777-000

REGISTERED ADDRESS

Page 7: BIR Form 2316 and 1700 Template

RDO CODE

PRESENT EMPLOYER INFORMATION PREVIOUS EMPLOYER INFORMATION

Name Address ZIP Code TIN Agent Name

111 Single XYZ Corporation Present Compan 2222 xxx-xxx-xxx Company Signatory

222 Single XYZ Corporation Present Compan 2222 xxx-xxx-xxx Company Signatory ABC Company

333 Married XYZ Corporation Present Compan 2222 xxx-xxx-xxx Company Signatory

444 Married XYZ Corporation Present Compan 2222 xxx-xxx-xxx Company Signatory

555 Married XYZ Corporation Present Compan 2222 xxx-xxx-xxx Company Signatory DEF Company

666 Married XYZ Corporation Present Compan 2222 xxx-xxx-xxx Company Signatory

777 Married XYZ Corporation Present Compan 2222 xxx-xxx-xxx Company Signatory

Single Yes

Married No

EXEMPTION STATUS

WIFE CLAIM EXEMPT

Page 8: BIR Form 2316 and 1700 Template

PREVIOUS EMPLOYER INFORMATION NON-TAXABLE/EXEMPT COMPENSATION INCOME

Address ZIP Code TIN Taxable Income Tax Withheld De Minimis

30,000.00 33,500.00

Previous Compa 1000 xxx-xxx-xxx 30,000.00 33,500.00

30,000.00 33,500.00

30,000.00 33,500.00

Previous Compa 1111 xxx-xxx-xxx 30,000.00 33,500.00

30,000.00 33,500.00

30,000.00 38,500.00

- - 210,000.00 239,500.00

13th Month & Other Benefits

Page 9: BIR Form 2316 and 1700 Template

NON-TAXABLE/EXEMPT COMPENSATION INCOME TAXABLE COMPENSATION INCOME

Total Basic Salary Others Specify Others 13th Month

6,856.45 13,372.57 83,729.02 137,872.88 - 17,414.00

9,750.00 14,827.91 88,077.91 217,662.00 131,043.90 30,902.00

12,150.00 21,626.66 97,276.66 324,498.00 - 49,108.00

10,650.00 16,514.67 90,664.67 303,126.00 - 45,296.00

11,100.00 - 74,600.00 333,420.00 - 50,420.00

7,650.00 - 71,150.00 141,791.16 1,095.25 18,288.00

9,450.00 5,870.45 83,820.45 220,264.88 - 32,692.00

-

-

-

67,606.45 72,212.26 589,318.71 1,678,634.92 132,139.15 - 244,120.00

SSS, GSIS, PHIC, Pag-IBIG & Union

Dues

Salaries & Other Forms of

Compensation

Page 10: BIR Form 2316 and 1700 Template

TAXABLE COMPENSATION INCOME DEDUCTIONS

TAX DUE TAX WITHHELDTotal Exemptions Health Premium BALANCE CHECK

155,286.88 50,000.00 - 105,286.88 15,557.38 15,557.38 -

379,607.90 75,000.00 - 304,607.90 66,382.37 66,382.37 -

373,606.00 50,000.00 - 323,606.00 72,081.80 72,081.80 -

348,422.00 75,000.00 - 273,422.00 57,026.60 57,026.60 -

383,840.00 100,000.00 - 283,840.00 60,152.00 60,152.00 -

161,174.41 125,000.00 - 36,174.41 3,426.16 3,426.16 -

252,956.88 150,000.00 - 102,956.88 15,091.38 15,091.38 -

- - - -

- - - -

- - - -

2,054,894.07 625,000.00 - 1,429,894.07 289,717.69 289,717.69 -

0 0

NET TAXABLE INCOME

Page 11: BIR Form 2316 and 1700 Template

DEPENDENTS

Exemption Code Dependent_01 Name Dependent_02 Name

S

S1 1 1 Full Name D01 30-Dec-1995

M

M1 1 1 Full Name D01 15-Sep-2007

M2 2 2 Full Name D01 16-Dec-2004 Full Name D02 12-Jul-2008

M3 3 3 Full Name D01 17-Jan-2000 Full Name D02 06-Dec-2003

M4 4 4 Full Name D01 16-Jun-1995 Full Name D02 09-Aug-1998

- 11.00 11.00

No. of Dependent/s

Dependent as Accounted

Dependent_01 Birthdate

Dependent_02 Birthdate

Page 12: BIR Form 2316 and 1700 Template

DEPENDENTS COMMUNITY TAX CERTIFICATE

Dependent_03 Name Dependent_04 Name No. Place of Issue

CCI201X 23987XXX Imus, Cavite

Full Name D03 17-Jun-2007

Full Name D03 03-Sep-1999 Full Name D04 10-Oct-2009

Dependent_03 Birthdate

Dependent_04 Birthdate

Page 13: BIR Form 2316 and 1700 Template

COMMUNITY TAX CERTIFICATE

Date of Issue Amount

13-Jan-2011 500.00

Page 14: BIR Form 2316 and 1700 Template

DLN:

Fill in all applicable spaces. Mark all appropriate boxes with an "X"1 For the Year 2 For the Period

( YYYY ) From (MM/DD) To (MM/DD)

Part I Employee Information Part IV-B Details of Compensation Income and Tax Withheld from Present Employer

Amount Identification No. A. NON-TAXABLE/EXEMPT COMPENSATION INCOME

5 RDO Code 32 Basic Salary/ 32

Statutory Minimum WageMinimum Wage Earner (MWE)

33 33

34 34

36 36

37 13th Month Pay 37and Other Benefits

Single Married38 De Minimis Benefits 38

Yes No

39 SSS, GSIS, PHIC & Pag-ibig 39

Contributions, & Union Dues

40 Salaries & Other Forms of 4012 Statutory Minimum Wage rate per day 12 Compensation

13 Statutory Minimum Wage rate per month 13 41 Total Non-Taxable/Exempt 41 Compensation Income

14 Minimum Wage Earner whose compensation is exempt from withholding tax and not subject to income tax B. TAXABLE COMPENSATION INCOME

Part II Employer Information (Present) REGULAR

Identification No. 42 Basic Salary 42

43

Main Employer Secondary Employer 45 Cost of Living Allowance 45Part III Employer Information (Previous)

46 Fixed Housing Allowance 46 Identification No.

47 Others (Specify)47A 47A

47B 47B

SUPPLEMENTARYPart IV-A Summary 48 Commission 4821 Gross Compensation Income from 21

Present Employer (Item 41 plus Item 55)22 Less: Total Non-Taxable/ 22 49 Profit Sharing 49

Exempt (Item 41)23 Taxable Compensation Income 23

from Present Employer (Item 55) 50 Fees Including Director's 5024 Add: Taxable Compensation 24 Fees

Income from Previous Employer25 Gross Taxable 25 51 Taxable 13th Month Pay 51

Compensation Income and Other Benefits26 Less: Total Exemptions 26

52 Hazard Pay 5227 Less: Premium Paid on Health 27

and/or Hospital Insurance (If applicable)

28 Net Taxable 28 53 Overtime Pay 53Compensation Income

29 Tax Due 29 54 Others (Specify)

30 Amount of Taxes Withheld 54A 54A30A Present Employer 30A

54B 54B30B Previous Employer 30B

55 Total Taxable Compensation 55

As adjusted IncomeWe declare, under the penalties of perjury, that this certificate has been made in good faith, verified by us, and to the best of our knowledge and belief, is true and correct

pursuant to the provisions of the National Internal Revenue Code, as amended, and the regulations issued under authority thereof.56 COMPANY SIGNATORY Date Signed

Present Employer/ Authorized Agent Signature Over Printed NameCONFORME:

57 FIRST-01 MIDDLE-01 SURNAME-01 Date SignedCTC No. Employee Signature Over Printed Name Amount Paidof Employee Place of Issue Date of Issue

To be accomplished under substituted filingI declare, under the penalties of perjury, that the information herein stated are reported I declare,under the penalties of perjury that I am qualified under substituted filing of

Income Tax Returns(BIR Form No. 1700), since I received purely compensation incomefrom only one employer in the Phils. for the calendar year; that taxes have been correctly withheld by my employer (tax due equals tax withheld); that the BIR Form

58 COMPANY SIGNATORY No. 1604CF filed by my employer to the BIR shall constitute as my income tax return;Present Employer/ Authorized Agent Signature Over Printed Name and that BIR Form No. 2316 shall serve the same purpose as if BIR Form No. 1700

(Head of Accounting/ Human Resource or Authorized Representative) had been filed pursuant to the provisions of RR No. 3-2002, as amended.59 FIRST-01 MIDDLE-01 SURNAME-01

Employee Signature Over Printed Name

3 Taxpayer

4 Employee's Name (Last Name, First Name, Middle Name)

6 Registered Address 6A Zip Code

Holiday Pay (MWE)

6B Local Home Address 6C Zip CodeOvertime Pay (MWE)

6D Foreign Address 6E Zip Code

7 Date of Birth (MM/DD/YYYY) 8 Telephone Number Hazard Pay (MWE)

9 Exemption Status

9A Is the wife claiming the additional exemption for qualified dependent children?

10 Name of Qualified Dependent Children 11 Date of Birth (MM/DD/YYYY)

15 Taxpayer

16 Employer's Name

17 Registered Address 17A Zip Code

18 Taxpayer

19 Employer's Name

20 Registered Address 20A Zip Code

under BIR Form No. 1604CF which has been filed with the Bureau of Internal Revenue.

2 0 1 0

XYZ CORPORATION

Present Company Address

1 2 3 10 1 0 1

SURNAME-01, FIRST-01 MIDDLE-01

2 2 2 2

Republika ng PilipinasKagawaran ng PananalapiKawanihan ng Rentas Internas 2316Certificate of Compensation

Payment/Tax WithheldFor Compensation Payment With or Without Tax Withheld July 2008 (ENCS)

BIR Form No.

1 1 1

0 8 2 7 1 9 8 1

X

Adress 01 2 2 2 2

17,414.00

239,015.90

P

83,729.02

155,286.88

155,286.88

50,000.00

105,286.88

15,557.38

15,557.38

15,557.3831 155,286.8831 Total Amount of Taxes Withheld

(Employee share only)

6,856.45

33,500.00

13,372.57

83,729.02

137,872.88

30,000.00

43 Representation

44 Transportation 44

35 Night Shift Differential (MWE) 35

1 1 1 1 1 1 0 0 0 0 0 0 0

xxx xxx xxx 0 0 0 0

0 0 0 0

Page 15: BIR Form 2316 and 1700 Template

(To be filled up by the BIR) DLN:

Fill in all applicable spaces. Mark all appropriate boxes with an “X”. 1 For the Year 4 Compensation Earner

(YYYY) Yes No Marginal Income Earner

Part I B a c k g r o u n d I n f o r m a t i o n Taxpayer/Filer5 TIN

Code Code

9 Taxpayer's Name (Last Name, First Name, Middle Name) 10 Spouse's Name (Last Name, First Name, Middle Name)

11 Registered Address Registered Address

15 Telephone Number

19 Exemption Status Is the wife claiming the additional exemption for Single M Married Dependent Children qualified dependent children? Yes No

PART II Computation of Tax

Taxpayer/Filer Spouse20 Gross Taxable Compensation Income (Schedule 1) 20B

Including Net Income of Marginal Income Earners)

21 21B

22 22B

23 Gross Taxable Income (Sum of Items 20A, 21A, 22A/20B, 21B, 22B) 23B

24 Less:Total Personal & Additional Exemptions (Schedule 2) 24B

Premium paid on Health and/or Hospitalization Insurance 24D

not to exceed P2,400 per year. (See Instructions)

Total (Sum of Items 24A & 24C / 24B & 24D) 24F

25 Taxable Income (Item 23A less Item 24E/ Item 23B less Item 24F) 25B

26 Tax Due 26A 26B

27 Less:Tax Credits/Payments

Tax Withheld Per BIR Form No. 2316 27A 27B

Foreign Tax Credits 27C 27D

Tax Paid in Return Previously Filed, if this is an amended return 27E 27F

Other Payment/s Made (please attach proof of payment 27G 27H BIR Form. No. 0605)

27I 27J 27B,27D, 27F,27H)

28 Tax Payable/(Overpayment)(Item 26A less Item 27I / Item 26B less Item 27J) 28A 28B

29 Add: Penalties

Surcharge 29A 29B

Interest 29C 29D

Compromise 29E 29F

Total Penalties (Sum of Items 29A, 29C & 29E / 29B, 29D & 29F) 29G 29H

30 Total Amount Payable/(Overpayment)(Sum of Items 28A & 30A 30B

29G / 28B & 29H)

Aggregate Amount Payable/(Overpayment)(Sum of Items 30A & 30B) 30C

31 Less: Amount Paid in this Return/First Installment 31

32 Amount Still Due on or before July 15, if taxpayer is allowed to pay by installment 32

I declare, under the penalties of perjury, that this return has been made in good faith, verified by me, and to the best of my knowledge and belief,is true and correct, pursuant to the provisions of the National Internal Revenue Code, as amended, and regulations issued under authority thereof.

` 33

0 0 0

Community Tax Certificate No. Place of Issue Date of Issue (MM/DD/YYYY) Amount Stamp of Receiving Office/

34 35 36 37 AAB and Date of Receipt

(RO's Signature/Bank

Part III D e t a i l s o f P a y m e n t Teller's Initial) Drawee Bank/ Date

Particulars Agency Number MM DD YYYY Amount 38B 38C 38D

Debit Memo 39B 39C 39D

40A 40B 40C

41B 41C 41D

Machine Validation/Revenue Official Receipt Details (If not filed with the bank)

2 Amended Return 3 No. of sheets attached

Spouse 6 RDO 7 TIN 8 RDO

12

13 Date of Birth (MM/DD/YYYY) 14 Zip Code 16 Date of Birth (MM/DD/YYYY) 17 Zip Code 18 Telephone Number

19A Number of Qualified 19B

20A

Other Taxable Income (Non-business/Non-profession Income

21A

22A

23A

24A

24C

24E

25A

Total Tax Credits/Payments (Sum of Items 27A,27C,27E, 27G/

Taxpayer/Authorized Agent (Signature over Printed Name)

38 Cash/Bank 38A

39 Check 39A

40 Tax Debit Memo

41 Others 41A

0, 0 0

0 0 0

*** 0.00 ***

0

0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 1X

BIR Form No.Republika ng PilipinasKagawaran ng Pananalapi

Kawanihan ng Rentas InternasFor Individuals Earning Compensation Income and Marginal Income Earner (Including Non-Business / Non-Profession Related Income)

Annual IncomeTax Return

July 2008 (ENCS)

1700X I I 0 1 1

I I 0 4 0

ATC

Other Income/Earnings I I 0 4 1

Page 16: BIR Form 2316 and 1700 Template

Schedule 1 Gross Compensation Income and Tax Withheld BIR Form 1700 (ENCS)-Page 2

Name of Employer TINTax Withheld Compensation Income

Taxpayer/Filer Spouse Taxpayer/Filer Spouse

Schedule 2 Qualified Dependent ChildrenName Birth Date (MM/DD/YYYY) Name

TAX TABLEIf Taxable Income is: Tax Due is: If Taxable Income is: Tax Due is:

Not over P 10,000 5 %Over P 10,000 but not over P 30,000 P 500 + 10 % of the excess over P 10,000 Over P 140,000 but not over P 250,000 P 22,500 + 25 % of the excess over P 140,000

Over P 30,000 but not over P 70,000 P 2,500 + 15 % of the excess over P 30,000 Over P 250,000 but not over P 500,000 P 50,000 + 30 % of the excess over P 250,000

Over P 70,000 but not over P 140,000 P 8,500 + 20 % of the excess over P 70,000 Over P 500,000 P 125,000 + 32 % of the excess over P 500,000

BIR Form 1700 - Annual Income Tax ReturnFor Individuals Earning Compensation Income and Marginal Income Earners

Guidelines and Instructions

Birth Date (MM/DD/YYYY)

Who Shall File

This return shall be filed, in triplicate copies, 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, or marginal income earner, except the following:

1. An individual whose gross compensation income does not exceed his total personal and additional exemptions;

2. An individual receiving purely compensation income, regardless of amount, from only one employer in the Philippines for the calendar year, the income tax of which has been withheld correctly by the said employer (tax due equals tax withheld);

3. An individual whose income has been subjected to final withholding tax (alien employee as well as Filipino employee occupying the same position as that of the alien employee of regional or area headquarters and regional operating headquarters of multinational companies, petroleum service contractors and sub-contractors, and offshore banking units; non-resident alien not engaged in trade or business); and

4. An individual who is exempt from income tax.

“Marginal Income Earner” refers to individuals not otherwise deriving compensation as an employee under an employer-employee relationship but who are self-employed and deriving gross sales/receipts not exceeding P100,000 during any 12-month period. They shall file this return reflecting herein the net income from business.

In case of married individuals who are still required to file returns or in those instances not covered by the substituted filing of returns, only one return for the taxable year shall be filed by either spouse to cover the income of the spouses, which return shall be signed by the husband and wife, unless it is physically impossible to do so, in which case signature of one of the spouses would suffice. When and Where to File

The income tax return with a tax payable shall be filed with any Authorized Agent Bank (AAB) of the Revenue District Office where the taxpayer is required to register/or where the taxpayer has his legal residence or place of office in the Philippines. In places where there are no AABs, the return shall be filed with the Revenue Collection Officer or duly Authorized City or Municipal Treasurer. If taxpayer has no legal residence or place of office in the Philippines, the return shall be filed with the Office of the Commissioner or Revenue District Office No. 39, South Quezon City. However, income tax returns which are "no-payment returns" at the time of filing shall be filed directly with the Revenue District Office (RDO) where the taxpayer is required to register/or where the taxpayer has his legal residence or place of office in the Philippines.

The returns of the taxpayers shall be filed on or before the fifteenth (15th) day of April of each year covering income for the preceding taxable year.

When and Where to Pay Upon filing this return, the total amount payable shall be paid to the AAB where the

return is filed. In places where there are no AABs, the tax shall be paid with the Revenue Collection Officer or duly Authorized City or Municipal Treasurer who will issue a Revenue Official Receipt (BIR Form No. 2524). When the tax due exceeds P2,000.00, the taxpayer who is a compensation earner may elect to pay in two equal installments, the first installment to be paid at the time the return is filed and the second, on or before July 15 of the same year.

Where the return is filed with an AAB, taxpayer must accomplish and submit BIR- prescribed deposit slip, which the bank teller shall machine validate as evidence that payment was received by the AAB. The AAB receiving the tax return shall stamp mark the word “Received” on the return and also machine validate the return as proof of filing the return and payment of the tax by the taxpayer, respectively. The machine validation shall reflect the date of payment, amount paid and transaction code, the name of the bank, branch code, teller’s code and teller’s initial. Bank debit memo number and date should be indicated in the return for taxpayer paying under the bank debit system. Overwithholding of income tax on compensation shall be refunded by the employer, except if the overwithholding is due to the fault of the employee then it shall be forfeited in favor of the government.

For eFPS Taxpayer The deadline for electronically filing and paying the taxes due thereon shall be in

accordance with the provisions of existing applicable revenue issuances.

Personal and Additional Exemptions For taxable year 2008, the following transitory personal and additional exemptions shall

be used:

Personal Exemption January 1 to July 5, 2008

July 6 to December 31, 2008

Total

Single P 10,000 P 25,000 P 35,000 Head of the Family 12,500 25,000 37,500 Married 16,000 25,000 41,000 Additional Exemption – maximum of 4 children Every Qualified Dependent Children

4,000 12,500 16,500

For taxable year 2009 and onwards, each individual taxpayer, whether single or married, shall be allowed a basic personal exemption amounting to Fifty thousand pesos (P50,000.00).

In the case of married individuals where only one of the spouses is deriving gross

income, only such spouse shall be allowed the personal exemption. An individual, whether single or married, shall be allowed an additional exemption of

P25,000.00 for each qualified dependent child, not exceeding four (4). The additional exemption for dependents shall be claimed by the husband, who is deemed the proper claimant unless he explicitly waives his right in favor of his wife.

“Dependent Child” means a legitimate, illegitimate or legally adopted child chiefly dependent upon and living with the taxpayer if such dependent is not more than twenty-one (21) years of age, unmarried and not gainfully employed or if such dependent, regardless of age, is incapable of self-support because of mental or physical defect.

In the case of legally separated spouses, additional exemption may be claimed only by the spouse who has custody of the child or children; Provided, that the total amount of additional exemptions that may be claimed by both shall not exceed the maximum additional exemptions allowed by the Tax Code. Change of Status

If the taxpayer marries or should have additional dependent(s) during the taxable year, the taxpayer may claim the corresponding personal or additional exemption, as the case may be, in full for such year.

If the taxpayer dies during the taxable year, his estate may still claim the personal and additional exemptions for himself and his dependent(s) as if he died at the close of such year.

If the spouse or any of the dependents dies or if any of such dependents marries, becomes twenty-one (21) years old or becomes gainfully employed during the taxable year, the taxpayer may still claim the same exemptions as if the spouse or any of the dependents died, or as if such dependents married, became twenty-one (21) years old or became employed at the close of such year. Provided, that in 2008, the pro-rated personal and additional exemptions shall apply as stated.

Gross Taxable Compensation Income

The gross taxable compensation income of the taxpayer does not include SSS, GSIS, Medicare and Pag-ibig Contributions, and Union Dues of individuals

The non-business/non-profession related income reported under "other taxable income" should reflect only the net taxable amount.

Premium Payment on Health and/or Hospitalization Insurance

Premium payment on health and/or hospitalization insurance of an individual taxpayer, including his family, in the amount of P2,400.00 per year, per family, may be deducted from gross income: Provided, that said taxpayer, including his family, has a yearly gross income of not more than P250,000.00. In case of married taxpayers, only the spouse claiming the additional exemption for dependents shall be entitled to this deduction.

Penalties There shall be imposed and collected as part of the tax:

1. A surcharge of twenty five percent (25%) for each of the following violations: a) Failure to file any return and pay the amount of tax or installment due on or before the

due date; b) Unless otherwise authorized by the Commissioner, filing a return with a person or

office other than those with whom it is required to be filed; c) Failure to pay the full or part of the amount of tax shown on the return, or the full

amount of tax due for which no return is required to be filed on or before the due date; d) Failure to pay the deficiency tax within the time prescribed for its payment in the

notice of assessment. 2. A surcharge of fifty percent (50%) of the tax or of the deficiency tax, in case any payment

has been made on the basis of such return before the discovery of the falsity or fraud, for each of the following violations: a) Willful neglect to file the return within the period prescribed by the Code or by rules

and regulations; or b) In case a false or fraudulent return is willfully made.

3. Interest at the rate of twenty percent (20%) per annum, or such higher rate as may be prescribed by rules and regulations, on any unpaid amount of tax, from the date prescribed for the payment until it is fully paid.

4. Compromise penalty. Attachments Required 1. Certificate of Income Tax Withheld on Compensation (BIR Form 2316). 2. Waiver of the husband’s right to claim additional exemption, if applicable. 3. Duly approved Tax Debit Memo, if applicable. 4. Proof of Foreign Tax Credits, if applicable. 5. 6. 7.

For amended return, proof of payment and the return previously filed. Summary Alphalist of Withholding Agents of Income Payments Subjected to Withholding Tax at Source (SAWT), if applicable.

Proof Proof of Other Payment/s, if applicable Note: All background information must be properly filled up. Box No. 1 refers to transaction period and not the date of filing this return. TIN – Taxpayer Identification Number The last 4 digits of the 13-digit TIN refers to the branch code.

ENCS