This field is pre-populated or defaulted to prior month of the current year. Item 3 is predetermined by the system depending on the no. Selecting No will disable fields under Computation of Tax. This field is defaulted to Yes. This is a mandatory field. If Yes is specified, the "If yes please specify" drop down box will become mandatory.
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BIR Form No. If the person required to withhold and pay the tax is a corporation, the return shall be made in the name of the corporation and shall be signed and verified by the president, vice-president, or any authorized officer and countersigned by the treasurer or assistant treasurer. With respect to a fiduciary, the returns shall be made in the name of the individual, estate or trust for which such fiduciary acts and shall be signed and verified by such fiduciary.
In case of two or more joint fiduciaries, the return shall be signed and verified by one of such fiduciaries. Where the return is filed with an AAB, the lower portion of the return must be properly machine-validated and duly stamped by the Authorized Agent Bank to serve as the receipt of payment.
The AAB shall also issue an official receipt or bank debit advice or credit document, whichever is applicable, as additional proof of payment. Penalties There shall be imposed and collected as part of the tax: 1. 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 amont 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. 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. Compromise penalty. Violation of Withholding Tax Provisions Any person required to withhold, account for, and remit any tax imposed by the National Internal Revenue Code or who willfully fails to withheld such tax, or account for and remit such tax, or aids or abets in any manner to evade any such tax or the payment thereof, shall, in addition to other penalties provided for under this Law, be liable upon conviction to a penalty equal to the total amount of the tax not withheld, or not accounted for and remitted.
Any person required under the National Internal Revenue Code or by rules and regulations promulgated thereunder to pay any tax, make a return, keep any record, or supply correct and accurate information, who willfully fails to pay such tax, make such return, keep such record, or supply such correct and accurate information, or withhold or remit taxes withheld, or refund excess taxes withheld on compensation, at the time or times required by law or rules and regulations shall, in addition to the other penalties provided by law, upon conviction thereof, be punished by a fine of not less than ten thousand pesos P10, If the withholding agent is the Government or any of its agencies, political subdivisions or instrumentalities, or a government-owned or controlled corporation, the employee thereof responsible for the withholding and remittance of tax shall be personally liable for the additions to the tax prescribed by the National Internal Revenue Code.
Note: All background information must be properly filled up.
New BIR Forms 1601EQ and 1601FQ