Facts on Certificate 2307 and Form 1701Q
This is a recorded Lazada Webinar that was aired last July 28, 2021. Join Chris Bernardo, Head of Training and Education in JuanTax, and our guest speaker Mr. Mark Lofranco, Business Director of Virtual Tax Accountant PH as they discuss Taxes Imposed on Individuals, BIR Form 2307, and BIR Form 1701Q.
- Lectures 5
- Quizzes 4
- Duration 1 hour 20 minutes
- Skill level Beginner, Intermediate
- Language English
- Students 289
- Certificate Yes
- Assessments Self
Taxes Imposed on Individuals
All about BIR Form 2307
Populating BIR Form 1701Q
Question and Answer
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Mr. Chris Bernardo was extremely helpful.
I am already registered as a free-lance professional, fixed tax rate of 8% at the beginning of the year. On this 3rd quarter, I opened a small business. The small business is considered my branch. My question, when I file my quarterly/annual ITR, what would be the address that I must use, is it the original address as professional or the branch address (the business)? Thanks..
Hi Vicky, usually, the first thing taxpayers do is update the Certificate of Registration COR with the BIR. Based on taxpayers’ accounts on this matter, the BIR leans towards businesses and uses that information versus other forms of income like freelancing. If you need to file already and can’t update your COR with the BIR, taxpayers usually use whatever they have registered and are written on their COR. Please consult a tax accountant or the RDO regarding this as we are not officially allowed to provide accounting/tax advise.
Another question pls, when using FastFile, do I need to attach any documents? If yes, are soft copies accepted, photo of the said docs? thanks
Hi Vicky, in Fast File you don’t need to attach any documents. Fast File works like an eBIR with the exemption of being able to send attachments like SLSP and QAP. If your intention is to send other documents related to tax returns, you may need to send this to the BIR manually or through BIR’s AFS. https://eafs.bir.gov.ph/