Who are not required to file Income Tax returns?

The following individuals are not required to file income tax returns: 1. An individual who is a minimum wage earner 2. An individual whose gross income does not exceed his total personal and additional exemptions 3. An individual whose compensation income derived from one employer does not exceed P 60,000 and the income tax on which has been correctly withheld 4. 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 headquarters and regional operating headquarters of multinational companies, petroleum service contractors and sub-contractors and offshore-banking units, non-resident aliens not engaged in trade or business) 5. Those who are qualified under substituted filing. However, substituted filing applies only if all of the following requirements are present : a) the employee received purely compensation income (regardless of amount) during the taxable year b) the employee received the income from only one employer in the Philippines during the taxable year c) the amount of tax due from the employee at the end of the year equals the amount of tax withheld by the employer d) the employees spouse also complies with all 3 conditions stated above e) the employer files the annual information return (BIR Form No. 1604-CF) f) the employer issues BIR Form No. 2316 (Oct 2002 ENCS version ) to each employee.

1. BIR Form 1700 Annual Income Tax Return (For Individual Earning Purely Compensation Income Including NonBusiness/Non-Profession Related Income) Please check the links at the bottom of this post for the new and revised BIR 1700 form as of November 2011. Documentary Requirements: a) Certificate of Income Tax Withheld on Compensation (BIR Form 2316) b) Waiver of the Husbands right to claim additional exemption, if applicable c) Duly approved Tax Debit Memo, if applicable d) Proof of Foreign Tax Credits, if applicable e) Income Tax Return previously filed and proof of payment, if filing an amended return for the same taxable year Steps and procedures for filing income tax return 1. Fill-up corresponding BIR Form (BIR Form 1700, 1701 or 1702) in triplicate. 2. Attach the corresponding documentary requirements 3. If there is payment: a) Proceed to the nearest Authorized Agent Bank (AAB) of the Revenue District Office where you are registered and present the duly accomplished BIR Form (return), together with the required attachments and your payment. b) In places where there are no AABs, proceed to the Revenue Collection Officer or duly Authorized City or Municipal Treasurer located within the Revenue District Office where you are registered and present the duly accomplished BIR Form, together with the required attachments and your payment. c) Receive your copy of the duly stamped and validated form from the teller of the AABs/Revenue Collection Officer/duly Authorized City or Municipal Treasurer. 4. For No Payment Returns including refundable returns, and for tax returns qualified for second installment: a) Proceed to the Revenue District Office where you are registered or to any Tax Filing Center established by the BIR

and present the duly accomplished BIR Form, together with the required attachments. b) Receive your copy of the duly stamped and validated form from the RDO/Tax Filing Center representative.