New Income Tax Forms (BIR Forms 1700, 1701, 1702)

 January 6, 2012 BANK BULLETIN NO. 01-12  TO:All BIR Authorized Agent Banks   SUBJECT:New Income Tax Forms (BIR Forms 1700, 1701, 1702) All taxpayers who are required to file their annual Income Tax Returns under Section 51 (A) (1) of the Tax Code and those who are not required to file under Section 51 (A) (2) of the said Tax Code but who nevertheless opt to do so starting with taxable year ending December 31, 2011 which are due for filing on or before April 15, 2012, should use the following new Income Tax Forms pursuant to Revenue Regulations No. 19-2011:1. BIR FORM 1700 (version November 2011) — Annual Income Tax Return for Individuals Earning Purely Compensation Income (Annex "A");2. BIR FORM 1701 (version November 2011) — Annual Income Tax Return for Self-Employed Individuals, Estates and Trusts (Annex "B"); and3. BIR FORM 1702 (version November 2011) — Annual Income Tax Return for Corporation, Partnership and Other Non-Individual Taxpayer (Annex "C").On the other hand, all juridical entities who are adopting the fiscal year of reporting income and...