Bureau of Internal Revenue

 

 

The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 41-2019, 2 April 2019, which circularizes the availability of the newly revised BIR Form No. 1702-MX January 2018 (ECNS). The new return shall be used by the non-individuals with mixed income subject to multiple income tax rates or with income subject to special or preferential rate in filing the annual income tax return and paying the income tax due starting the year 2018 which is due on or before 15 April 2019.

The revised manual returns are available in the BIR website (www.bir.gov.ph) under the BIR Forms-Income Tax Return section. However, the forms are not yet available in the Electronic BIR Forms (eBIRForms) and Electronic Filing and Payments System (eFPS); thus, eBIRForms/eFPS filers shall use the existing old version available in eFPS and in the Offline eBIRForms Package in filing the said return.

Under RMC No. 41-2019, the following taxpayers shall use the manual return, among others:

1.     Those who elected optional standard deduction (OSD) as the method of deduction; and

2.     General Professional Partnership (GPP) who elected OSD on the first quarter as their method of deduction.

Manual filers shall download the PDF version of the form, print the form and completely fill out the applicable fields, otherwise shall be subjected to penalties under Sec. 250 of the Tax Code, as amended.

Once the above-mentioned returns are available in eFPS or already included in the new Offline eBIRForms Package, a revenue issuance shall be released to announce the availability of the return.

 

Attached is the full text of the issuance.

Revenue Memorandum Circular No. 41-2019

1702-MX

Annex A - 1702-MX

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