Tax Notes: Guidelines in filing BIR Form 1702Q January 2018 for taxpayers with fiscal year accounting period eFPS

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The Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum 68-2021 to address concerns from the Electronic Filing and Payment System (eFPS) of taxpayers/filers with fiscal year accounting period, citing that they could not proceed with the filing of BIR Form 1702Q (Quarterly Income Tax Return for Corporations, Partnerships, and Other Non-Individual Taxpayers).

The BIR continues to resolve these concerns and has advised eFPS filers experiencing issues to do the following:

1. File BIR Form 1702Q using Offline eBIRForms Package v7.9.1

The January 2018 version of the form is not yet available in the Offline eBIRForms Package. Instead, BIR Form 1702Qv2008C (modified 2008 version) shall be used. The same is already available in Offline eBIRForms Package v.9.1 which can be downloaded from the following sites:

www. bir.gov.ph

www.knowyourtaxes.ph

2. Pay taxes due thereon, if any, thru eFPS

eFPS Filers shall proceed to payment using the eFPS facility after submitting the return thru eBIRForms. This is done by filing BIR Form No. 0605 electronically then proceeding to e-Payment for income tax due using the following codes:

Tax Type Code – Income Tax

Alphanumeric Tax Code – MC 200 Miscellaneous Tax

Please be guided accordingly.

Source:

P&A Grant Thornton

Certified Public Accountants

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