2025 Annual Income Tax Return | BIR Form 1701-MS for Micro and Small Taxpayers - Itemized Deduction

Описание: 2025 Annual Income Tax Return | BIR Form 1701-MS for Micro and Small Taxpayers - Itemized Deduction

Hello! In this video, I will show you how to use the new BIR Form 1701-MS Annual Income Tax Return for Individuals classified as Micro or SMALL tax payers. Individual taxpayers with annual gross sales of below 3 Million are classified as micro taxpayers while those with annual gross sales of 3 Million up to below 20 Million are classified small taxpayers.

BIR form 1701-MS is still not available in the ebirform and efps. If you would want to use this form, you will need to file manually to your Authorized Agent Banks or RDO.

In this video, I will show you a step-by-step guide on how to fill out properly the BIR form 1701-MS . We will use the itemized deduction - graduated income tax rate for today's example.

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DISCLAIMER:
I do not work and represent BIR and other government agencies in any capacity. My videos are not to be taken as a professional advice. I am just sharing my knowledge and opinion on certain topics for discussion purposes only.


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