REVENUE MEMORANDUM CIRCULAR NO. 23 – 2024
Announces the availability of BIR Form No. 1701A in the Electronic Filing and Payment System (eFPS) for individuals earning purely from business/profession (those under the graduated income tax rates with Optional Standard Deduction (OSD) as mode of deduction OR those who opted to avail of the 8% flat income tax rate). The return must be filed by April 15 each year, covering income for the preceding taxable year.
Mandated eFPS users who are required to file the said return are advised to check if the form is already included in the list of tax returns in their eFPS. In case the return is not yet included, they shall coordinate with the Revenue District Office (RDO) where they are registered and comply with the requirements of the RDO for the uploading of the return in the eFPS.
The return shall be filed and the tax due thereon, if any, shall be paid using the eFPS facility effective immediately.