New Annual Income Tax Form No. 1701A — Annual Income Tax Return for Individual Earning Income Purely from Business or Profession

January 28, 2019BANK BULLETIN NO. 02-19TO:All Authorized Agent Banks   SUBJECT:New Annual Income Tax Form No. 1701A — Annual Income Tax Return for Individual Earning Income Purely from Business or Profession Pursuant to the implementation of Republic Act (R.A.) No. 10963 or the Tax Reform Acceleration and Inclusion (TRAIN) Law and as provided for in Revenue Memorandum Circular (RMC) 17-2019, below is the new income tax return for individuals earning income purely from Business or Profession: DHIcET FormCodeForm DescriptionTaxTypeTax TypeDescriptionFrequency1701AIndividuals Earning Income purely from Business/ProfessionITAnnual Income Tax ReturnA In view thereof, all AABs are hereby advised to accept BIR Form No. 1701A and to follow the procedures in Bank Bulletin No. 2018-01 for the updating of the BIR Forms in the Forms Codes table under the Limited Data Bank Entry System (LDBES) or AABs Bank System authorized by the Bureau of Internal Revenue.For further queries on the updating procedures, please contact Mr. Sean Neil S. Sabado of this Bureau's Systems Development Division (SDD) through telephone numbers 9251966 and 9817090 or email us at [email protected]For your...