PH BIR Form 2307 2018-2023 free printable template
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Who needs BIR Form No. 2307?
A BIR Form No. 2307 is an essential document for both employees doing freelance jobs on the side and employers who accept project-based or freelance employees and freelancers.
What is BIR Form No. 2307 Used for?
BIR Form No. 2307 is also called a Certificate of Creditable Tax Withheld At Source. This Form is an obligation of the mayor and/or employer — withholding tax agent to the payee.
Is BIR Form No. 2307 Accompanied by Other Forms?
This form must be filed together with the Quarterly/Annual Income Tax Return —?? BIR Forms 1701Q / 1701 for individuals, or BIR Form 1702Q/ 1702 for non-individuals.
For Percentage Taxes on Government Money Payments this Certificate has to be attached to the Quarterly Percentage Tax return (BIR Form No. 2551M and 2551Q).
For VAT Withholding — This Certificate is to be attached to the Monthly VAT Declaration (BIR Form No. 2550M) and Quarterly VAT Return (BIR Form No. 2550Q).
When is BIR Form No. 2307 due?
For Expanded Withholding Tax must be filed on or before the 20th day of the month following the close of the taxable quarter.
For both Percentage Tax On Government Money Payments and VAT Withholding the Form has to be issued on or before the 10th day of the month following the month in which withholding was made.
What Information Should be Provided in BIR Form No. 2307?
The taxpayer has to indicate the following information:
- Taxable (accounting) period
- Payee information including Name, Address, Taxpayer Identification Number
- Mayor information including Name, Address, Taxpayer Identification Number
- Income Payments Subject to Expanded Withholding Taxpayer
- Money Payments Subject to Withholding of Business Tax (Government & Private)
Where do I send BIR Form No. 2307?
This shall be filed while sending the income tax return form with an Authorized Agent Bank located within the territorial jurisdiction of the Revenue District Office where the taxpayer is required to register or where the taxpayer has his legal residence or place of business in the Philippines.
If there are no Authorized Agent Banks where the taxpayer is registered, Form should be filed either with the Revenue District Office or Municipal Treasurer of the Revenue District Office where the taxpayer is required to register or where the taxpayer has his legal residence or place of business in the Philippines.
If the taxpayer has neither legal residence nor place of business in the Philippines, a BIR Form No. 2307 should be filed with the Office of the Commissioner or Revenue District No. 39.
What is 2307 bir form?
2307 bir form is the Certificate of Creditable Tax Withheld at Source form used by employers in the Philippines to report taxes withheld from employee salary or compensation payments. It is a form that is used to document the withholding of taxes on behalf of the employee, and is used to calculate the employee's total tax liability.
Who is required to file 2307 bir form?
The Bureau of Internal Revenue (BIR) requires employers to file Form 2307 (Certificate of Creditable Tax Withheld) if they have withheld taxes from the income of their employees. Employers are also required to submit Form 2307 to the BIR in order to get credit for the taxes they have already withheld from their employees.
How to fill out 2307 bir form?
1. Enter your employer's name and address in the upper left-hand corner of the form. 2. Enter the tax year in the upper right-hand corner. 3. Enter the employer's TIN (Tax Identification Number) in the space provided. 4. Enter the employee's name and address in the space provided. 5. Enter the employee's TIN (Tax Identification Number) in the space provided. 6. Enter the wages, tips, and other compensation earned by the employee. 7. Enter the total amount of federal income tax withheld from the employee's wages. 8. Enter the total amount of Medicare wages and tips that were subject to Medicare tax withholding. 9. Enter the total amount of Social Security wages and tips that were subject to Social Security tax withholding. 10. Sign and date the form at the bottom.
What is the purpose of 2307 bir form?
The BIR Form 2307 is a certificate of withholding tax on compensation. It is used to document the withholding of taxes on income from employment. It is also used to document the filing of taxes, and it serves as proof of payment for employees.
What information must be reported on 2307 bir form?
The BIR Form 2307, or Certificate of Creditable Tax Withheld at Source, must include the following information: 1. Taxpayer Identification Number (TIN) of the withholding agent 2. Taxpayer’s name and address 3. Nature of the Income Payment 4. Amount of income payment 5. Amount of tax withheld 6. Date of income payment 7. Taxpayer’s TIN 8. Taxpayer’s Address 9. Tax Type 10. Tax Rate 11. Taxable Period 12. Taxpayer’s Signatory 13. Withholding Agent’s TIN
When is the deadline to file 2307 bir form in 2023?
The deadline to file 2307 BIR Form for the year 2023 is April 15, 2024.
What is the penalty for the late filing of 2307 bir form?
The BIR may impose a penalty of up to 25% of the total amount of taxes due, plus a delinquency interest of 20% per annum.
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