How To File BIR Form 1701A - 8% IT Rate Gross Sales Below 250,000

How To File AITR BIR Form 1701A - 8% IT Rate Gross Sales Below 250,000

Annual Income Tax Return for Individuals Earning Income PURELY from Business/Profession (Those under the graduated income tax rates with OSD as mode of deduction OR those who opted to avail of the 8% flat income tax rate)


Description

The return shall be filed by individuals earning income PURELY from trade/business or from the practice of profession, to wit:
1. A resident citizen (within and without the Philippines);
2. A resident alien, non-resident citizen or non-resident alien (within the Philippines).

The return shall only be used by said individuals as follows:
A. Those subject to graduated income tax rates and availed of the optional standard deduction as method of deduction, regardless of the amount of sales/receipts and other non-operating income; OR
B. Those who availed of the 8% flat income tax rate whose sales/receipts and other non-operating income do not exceed P3M

Filing Date

This return is filed on or before April 15 of each year covering income for the preceding taxable year.

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