04/03/2026
BIR Form No. 1701-MS Annual Income Tax Return for Individuals Classified as Micro and Small Taxpayers
Description
BIR Form No. 1701-MS shall be filed by individuals who are engaged in trade/business or the practice of profession including those with mixed income (i.e., those engaged in the trade/business or profession who are also earning compensation income) in accordance with Sec. 51 of the Code, as amended. The annual income tax return summarizes all the transactions covering the calendar year of the taxpayer.
This return shall be filed by the following individuals classified as MICRO (those with gross sales of less than P 3,000,000) or SMALL (those with gross sales of P 3,000,000 to less than P 20,000,000) taxpayers:
A resident citizen engaged in trade, business, or practice of profession within and without the Philippines.
A resident alien, non-resident citizen or non-resident alien individual engaged in trade, business or practice of profession within the Philippines.
A trustee of a trust, guardian of a minor, executor/administrator of an estate, or any person acting in any fiduciary capacity for any person, where such trust, estate, minor, or person is engaged in trade or business.
An individual engaged in trade or business or in the exercise of their profession and receiving compensation income as well.
Form link:
https://bir-cdn.bir.gov.ph/BIR/pdf/1701-MS%20August%202024%20Fillable_01.pdf
