How do I file small business tax return in the Philippines?


  1. Fill-up the BIR Form No.
  2. 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 1701Q, together with the required attachments.
  3. Receive your copy of the duly stamped and validated form from the RDO.

How do I file a small business return?

Online ITR for business income

  1. Step 1: Visit the official website for the filing of ITR-4, which is the income tax e-filing portal
  2. Step 2: Log in to your account by entering PAN, password, and the Captcha code.
  3. Step 3: On the “e-file” menu, choose the “Income Tax Return” link.

How do I file a tax return for self-employed Philippines?

Head to BIR’s website and download BIR Form No. 1701, which is titled “Annual Income Tax Return for Self-Employed Individuals, Estates and Trusts.” Observe BIR’s guideline and fill it out accordingly. Form No.

How much income can a small business make without paying taxes Philippines?

During the Laging Handa PH briefing on Tuesday, Finance Assistant Secretary Antonio Joselito Lambino II said registered small businesses with an annual revenue of PHP250,000 are exempted from paying income tax.

How much is the tax for small business in the Philippines?

The corporate income tax rate both for domestic and resident foreign corporations is 30% based on net taxable income. Excluded from the income tax are dividends received from domestic corporations; interest on Philippine currency bank deposit and yield from trust funds.

How do I file a tax return for self-employed?

Step 1: Log into the official e-filing website ( Step 2: Register or login yourself on the portal to continue filing ITR for self-employed. Step 3: Select the user type to register yourself with the Income Tax Department.

What is the minimum business income to file taxes?

Your filing requirements will change Generally, for 2021 taxes a single individual under age 65 only has to file if their adjusted gross income exceeds $12,550. However, if you are self-employed you are required to file a tax return if your net income from your business is $400 or more.

How do I file a tax return for a proprietorship firm?

How to file Income tax returns for proprietorship firms?

  1. Form ITR-3. This form should be used to file Income tax if the proprietorship firm is run by a Hindu Undivided Family (HUF) or by any proprietor.
  2. Form ITR-4. The proprietorship firm uses this form for proprietorship tax filing under a presumptive tax scheme.

What are the taxes for sole proprietorship in Philippines?

The 8% tax is applicable only to self-employed individuals (sole proprietors and professionals) whose gross receipts or gross sales and other non-operating income for the year do not exceed the three million pesos (P3,000,000) value-added tax (VAT) threshold and are not subject to other types of percentage tax.

Do I need to register my small business in BIR?

It doesn’t matter if you intend to set up a business where you’re the sole proprietor or you’re looking at operating a partnership (professional, general, or limited) or a corporation (stock or non-stock) with other people—you have to register your business with the BIR if you desire to do business legally.

What taxes do small businesses pay in Philippines?

Quarterly Income Tax This means that as a sole proprietor or a self-employed, the income you generate from your business is subject to a graduated income tax that range from a minimum of 5% to a maximum of 32% which is payable every quarter.

How do I calculate my business BIR tax?

As per the table above, to calculate percentage tax, multiply your gross sales or receipts to a 3% tax rate. Let’s say your business earned a gross amount of P500,000 this quarter. Multiplying it by 3% gets you a total of P15,000 percentage tax due for the period.