PART V

Taxpayer/Filer

Breakdown of Income (attach additional sheet/s if necessary)

Exempt
Spouse
Taxpayer/Filer

Special Rate

Regular Rate
Spouse

Taxpayer/Filer

Spouse

51

Gross Compensation Income

51A

51B

52

Less: Non-Taxable/Exempt Compensation

52A

52B

53

Gross Taxable Compensation Income (Item 51A less 52A/51B less 52B)

53A

53B

54

Less Deductions:
54A/B

Premiums on Health and/or Hospitalization Insurance (not to exceed P2,400/year)

54A

54B

54C/D

Personal Exemption

54C

54D

54E/F

Additional Exemption

54E

54F

54G/H

Total Deductions (Sum of Items 54A, C, & E / 54B, D, & F)

54G

54H

55A

55B

55

Taxable Compensation Income/(Excess of Deductions) (Item 53A less 54G/53B less 54H)

56

Sales/Revenues/Receipts/Fees (net of sales returns, allowances & discounts)

57

Add Other Taxable/Exempt Income from Operations not Subject to Final Tax

56A

56B

56C

56D

56E

56F

57A/B/C/D/E/F

57A

57B

57C

57D

57E

57F

57G/H/I/J/K/L

57G

57H

57 I

57J

57K

57L

57M

57N

57O

57P

57Q

57R

58

57M/N/O/P/Q/R

Total Sales/Revenues/Receipts/Fees

Total (Sum of Items 57A & G/ 57B & H/ 57C & I/ 57D & J/ 57E & K/ 57F & L)

58A

58B

58C

58D

58E

58F

59

Less Cost of Sales/Services

59A

59B

59C

59D

59E

59F

60

Net Sales/Revenues/Receipts/Fees

60A

60B

60C

60D

60E

60F

61

Add: Non-Operating Taxable Income

61A

61B

61C

61D

61E

61F

62

Gross Income

62A

62B

62C

62D

62E

62F

63

Less Deductions:
63A

63B

63F

63G

63H

Optional Standard Deduction

63A/B

OR
63C/D/E/F/G/H

Regular Allowable (Itemized Deductions)

63C

63D

63E

Special Allowable (Itemized Deductions)

Description

Legal Basis

63I/J/K/L/M/N

63 I

63J

63K

63L

63M

63N

63O/P/Q/R/S/T

63O

63P

63Q

63R

63S

63T

63U

63V

63W

63X

63Y

63Z

64A

64B

64C

64D

64E

64F

65A

65B

63U/V/W/X/Y/Z

Total Allowable Itemized Deductions

64

Net Income (to Item 78 of Part VI)

65

Less: Excess of Deductions over Taxable Compensation Income (from Item 55A/55B)

OR

the Total Deductions (from Item 54G/54H), if there is no Compensation Income

66

Taxable/Exempt Business Income/Income from Profession

67

Total Taxable Income (Sum of Item 55 & 66)

68

Applicable Tax Rate (i.e., special/regular rate)

69

Income Tax Due (to Item 32A & 32B/ 31A & 31B)

69A

69B

70

Less Share of Other Agencies

70A

70B

71

Income Tax Due to National Government Under Special Rate

71A

71B

66A

66B

66C

66D

66E

66F

67A

67B

67C

67D

68A

68B

68C
69C

68D
69D

TAX TABLE
If Taxable Income is:
Not over P 10,000

Tax Due is:

If Taxable Income is:

Tax Due is:

5%

Over P 10,000 but not over P 30,000

500 + 10% of the excess over P 10,000

Over P 140,000 but not over P 250,000

P 22,500 + 25% of the excess over P 140,000

Over P 30,000 but not over P 70,000

P 2,500 + 15% of the excess over P 30,000

Over P 250,000 but not over P 500,000

P 50,000 + 30% of the excess over P 250,000

Over P 70,000 but not over P 140,000

P 8,500 + 20% of the excess over P 70,000

Over P 500,000

P 125,000 + 32% of the excess over P 500,000

Annex "A"
TAXPAYER NAME:
Mandatory Attachment to BIR Form No. 1701
EXEMPT
Taxpayer/Filer
1 Advertising and Promotions

TAXABLE YEAR:

TIN:
Regular Allowable Itemized Deductions (attach additional sheet/s, if necessary)
SPECIAL RATE
Spouse
Taxpayer/Filer
Spouse

RE GULAR RAT E
Taxpayer/Filer

Spouse

1A

1B

1C

1D

1E

1F

2A

2B

2C

2D

2E

2F

3A

3B

3C

3D

3E

3F

4 Bad Debts

4A

4B

4C

4D

4E

4F

5 Charitable Contributions

5A

5B

5C

5D

5E

5F

6 Commission

6A

6B

6C

6D

6E

6F

7 Communication, Light and Water

7A

7B

7C

7D

7E

7F

8 Depletion

8A

8B

8C

8D

8E

8F

9 Depreciation

9A

9B

9C

9D

9E

9F

10 Fringe Benefits

10A

10B

10C

10D

10E

10F

11 Fuel and Oil

11A

11B

11C

11D

11E

11F

12 Insurance

12A

12B

12C

12D

12E

12F

13 Interest

13A

13B

13C

13D

13E

13F

14 Janitorial and Messengerial Services

14A

14B

14C

14D

14E

14F

15 Losses

15A

15B

15C

15D

15E

15F

16 Management and Consultancy Fee

16A

16B

16C

16D

16E

16F

17 Miscellaneous

17A

17B

17C

17D

17E

17F

18 Office Supplies

18A

18B

18C

18D

18E

18F

19 Other Services

19A

19B

19C

19D

19E

19F

20 Professional Fees

20A

20B

20C

20D

20E

20F

21 Rental

21A

21B

21C

21D

21E

21F

22 Repairs and Maintenance-Labor

22A

22B

22C

22D

22E

22F

23 Repairs and Maintenance-Materials/Supplies

23A

23B

23C

23D

23E

23F

24 Representation and Entertainment

24A

24B

24C

24D

24E

24F

25 Research and Development

25A

25B

25C

25D

25E

25F

26 Royalties

26A

26B

26C

26D

26E

26F

27 Salaries and Allowances

27A

27B

27C

27D

27E

27F

28 Security Services

28A

28B

28C

28D

28E

28F

29 SSS, GSIS, Medicare, HDMF and Other Contributions

29A

29B

29C

29D

29E

29F

30 Taxes and Licenses

30A

30B

30C

30D

30E

30F

31 Tolling Fees

31A

31B

31C

31D

31E

31F

32 Trainings and Seminars

32A

32B

32C

32D

32E

32F

33 Transportation and Travel

33A

33B

33C

33D

33E

33F

34

34A

34B

34C

34D

34E

34F

35

35A

35B

35C

35D

35E

35F

36 Total Regular Allowable Itemized Deductions (Sum of Items 1 to 35) (to Item 63C/D/E/F/G/H)

36A

36B

36C

36D

36E

36F

Amortization (specify)

Others (specify)