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(NAR) VOL. 23 NO. 1, JANUARY - MARCH 2012

[ BIR REVENUE REGULATIONS NO. 19-2011, December 09, 2011 ]

NEW INCOME TAX FORMS



Adopted: 09 December 2011
Date Filed: 31 January 2012

Section 1. Objective. These Revenue Regulations are issued to prescribe the new BIR Forms that will be used for Income Tax filing covering and starting with Calendar Year 2011, and to modify Revenue Memorandum Circular No. 57-2011.

Section 2. Scope. Pursuant to Section 244 in relation to Sections 6(H), 51(A)(1), and 51(A)(2) of the national Internal revenue Code of 1997 (Tax Code), as amended, these regulations are prescribed to revise BIR Form Nos. 1700, 1701, and 1702 to reflect the changes in information requested from said BIR Forms and to enable the said forms to be read by an Optical Character Reader.

Section 3. Filing of New Income Tax Return Forms. All taxpayers required to file their Income Tax returns under section 51(A)(1) of the Tax code, and those not required to file under section 51(A)(2) but who nevertheless opt to do so, covering and staring with calendar year 2011 – due for filing on or before April 15, 2012, should use the following revised forms:

  1. BIR Form 1700 version November 2011 (Annual Income Tax Return for Individuals Earning Purely Compensation Income);

  2. BIR Form 1701 version November 2011 (Annual Income Tax Return for Self-Employed Individuals, Estates and Trusts); and

  3. BIR Form 1702 version November 2011 (Annual Income Tax Return for Corporation, Partnership and Other Non-Individual Taxpayer).

All juridical entities following fiscal year of reporting are likewise required to use the new BIR Form 1702 starting with those covered under fiscal year ending January 31, 2012.

Section 4. Repealing Clause. All existing regulations and other issuances or portions thereof which are inconsistent with the provisions of these Regulations are hereby repealed, amended, or modified accordingly.

Section 5. Effectivity. These Regulations shall take effect covering income earned for taxable year 2011.


(SGD.) CESAR V. PURISIMA
Secretary of Finance

Recommended by:

(SGD.) KIM S. JACINTO-HENARES
Commissioner of Internal Revenue
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