Form 1601-EQ – All you need to know

Summary:

• What is form 1601-EQ?
• Who needs to file Form 1601-EQ?
• When to file Form 1601-EQ

This article has all  the necessary details you need to know on how to comply with your BIR Form 1601-FQ.

What is it?

BIR Form 1601-EQ is a tax form that is used to remit all other forms of final withholding taxes. Much like form 1601FQ, 1601-EQ forms can be used in remitting taxes withheld for the 3rd month of the quarter, in accordance with the provisions listed within the TRAIN law.

Who needs to file it?

Any Individual/non-individual considered as a withholding agent who is required to withhold (and deduct) taxes that were paid to the authorized representative, on behalf of the taxpayer shall use this form to remit the creditable tax withheld. Now, if the agent required to withhold payments is a corporation, then the return shall be filed using the corporation’s name and should be verified by the president, vice president, or authorized officer and signed by the appointed treasurer/assistant treasurer.

When do you file it?

1601-EQ forms shall be filed not later than the last day of the month,  following the end of the taxable quarter during which the withholding tax was made.