April 12, 2018 — Thursday — The Bureau of Internal Revenue (BIR) released eBIRForms Package v.7, and along with this upgraded version are forms that would further accommodate filers when it comes to complying with tax requirements.
New/Updated Tax Forms Available
Aside from all the other familiar forms present during its previous release, the new version of eBIRForm package comes with new and updated forms such as the following:
1601EQ, 1601FQ Forms Now Available
Two of the newest forms available within eBIRForms Package v.7 are the 1601-EQ and 1601-FQ forms.
BIR Form 1601EQ or the Quarterly Remittance Return of Creditable Income Taxes Withheld is used on remitting taxes that are withheld during the 3rd month of each taxable year.
1601FQ or Quarterly Remittance Return on Final Income Taxes Withheld on the other hand, is used to remit all other final withholding taxes.
1601EQ and 1601FQ forms shall be filed not be later than the last day of the month, following the end of taxable quarter during which the withholding tax was made.
The modified version of 2551Q (Quarterly Percentage Tax Return) comes with some additional ATCs (Alphanumeric Tax Code) including PT010, PT040, PT041 and many more!
Same still goes for the deadline as this tax form needs to be filed every 25th day following the taxable quarter.
JuanTax as an Alternative
As an alternative, you can use JuanTax in seamlessly generating and filing these kinds of taxes without the hassle in data entry!
JuanTax is a Philippine-based cloud tax software which helps businesses in achieving compliance with the Bureau of Internal Revenue (BIR) when it comes to transactional taxes including VAT, Percentage Tax, and Expanded Withholding Tax.
With JuanTax, you don’t need to download and install eBIRForms package. All you need to do is create and import transactions with your desired tax forms and you’re ready to go!