Please see the following new rule in regards to submitting financial documents for the folllowing:
- EMPLOYEE - ITR 2316
- must be signed by the employer and employee
- PROFESSIONAL | CONSULTAN | SELF-EMPLOYED | SMEs - ITR 1701
- must have receipt stamp of BIR/Tax Collector
- receipt of payment if there's no BIR STAMP
- email confirmation if payment is done online to signify that BIR receipt the payment
- NON TAX PAYERS ( HOUSEWIFE, HOUSEBAND, RETIRED & UNEMPLOYED)
- If ADB is NOT reflected in the bank statement - 3 months bank statement and explanation letter
- If ADB is reflected in the bank statement - submit an explanation letter for non-submission of ITR
- For ITR 1701-Q we will still follow the same requirement as before – submit the whole 4Qtrs with stamp or receipt of payment.
- For ITR 1702 (company ITR) – technically this is only acceptable for incentive trip where the company is the Guarantor. For Personal Trips, please follow old requirements like explanation letter.