1701-AIF Account Information Form (AIF) for Self-employed Individuals, Estates and Trusts (engaged in trade and business)

A revised BIR form designed in line with the BIR Integrated Tax System (ITS) to be used as attachment to BIR Form No. 1701 and to be accomplished by self-employed individuals, estates and trusts engaged in trade and business, which shall contain the taxpayer's business profile information and other relevant data to be lifted from the Audited Financial Statements. BIR Form 1701 AIF is not, however, required for individual taxpayers who opted for Optional Standard Deduction (OSD).

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DLN:

PSIC:

Account
Information Form

Republika ng Pilipinas
Kagawaran ng Pananalapi

Kawanihan ng Rentas Internas

For the Year

2 Category:

(YYYY)

Taxpayer/Filer

(Mark one)

Part I

1701AIF
July 1999 (ENCS)

(To be accomplished & filed with BIR Form No. 1701
unless taxpayer opted for Optional Standard Deduction)

For Self-Employed and Professional Individuals/
Estate and Trusts (Engaged in Trade or Business)
1

PSOC:

Self-Employed

Professional

Estate

Spouse
Background Information

3
Taxpayer
Identification No.
Taxpayer's Name (Name of Decedent / Trust Account) (Last Name, First Name, Middle Initial for Individuals)

3
4
4
5

Name of Administrator / Trustee

(If Individual, Last Name first, followed by First Name and Middle Initial)

5
6A Method of Inventory Valuation
(Specify)

6B Method of Bookkeeping

Part II

Manual

6C Kind of Books Registered

Computerized

Loose-leaf

Bound

Income Statement
Comparative
Previous Year

7

Gross Sales/Revenues/Receipts/Fees

8
9

Share from General Professional Partnership Income
Less: Sales Returns and Allowances
Sales Discounts

10

Net Sales/Revenues/Receipts/Fees (Item 7 and 8 less Item 9)

Current Year

10A

10B

11A
12A

11B
12B

Gain from Sales / Exchanges of Stocks
Other Income (Schedule 5)

13A
14A
15A
16A

13B
14B
15B
16B

Total Gross Income (Sum of Items 12 to 16)

17A

17B

18A
19A
20A
21A

18B
19B
20B
21B

22A

22B

23 Advertising

23A

23B

24 Rental

24A

24B

25 Insurance

25A

25B

26 Royalties

26A

26B

27 Repairs and Maintenance

27A

27B

28 Representation and Entertainment

28A

28B

29 Transportation and Travel

29A

29B

30 Fuel and Oil

30A

30B

31 Communication, Light and Water

31A

31B

32 Supplies
33 Interest
34 Taxes and Licenses (Schedule 2)

32A
33A
34A

32B
33B
34B

35 Losses

35A

35B

36 Bad Debts

36A

36B

37 Depreciation

37A

37B

38 Amortization of Intangibles

38A

38B

39 Depletion

39A

39B

40 Charitable Contribution

40A

40B

41 Research and Development

41A

41B

42 Amortization of Pension Trust Contribution

42A

42B

43 Miscellaneous

12

7B
8B
9B
9D

22 Outside Services

11

7A
8A
9A
9C

43A

43B

Less: Cost of Sales/Services (Schedule 1)
Gross Profit from Operations (Item 10 less Item 11)
Add: Non-operating Income
13
14
15
16

17

Gain from Sales / Exchanges of Real Properties (Sch.4)
Gain from Sales / Exchanges of Other Fixed Assets,Scrap, etc.

Less: Expenses
18
19
20
21

Salaries and Allowances
Fringe Benefit
SSS, GSIS, Medicare, HDMF and Other Contributions
Commission

44

Total Expenses (Sum of Items 18 to 43)

44A

44B

45

Net Income/ (Loss) (Item 17 Less Item 44)

45A

45B

Trust

BIR Form 1701AIF (ENCS) - Page 2
Part III
Assets
Current Assets

Balance Sheet
Beginning

Ending

46

Cash on Hand and in Banks

46A

46B

47

Marketable Securities

47A

47B

48

Accounts Receivable - Trade

48A

48B

49

Less: Allowance for Bad Debts

49A

49B

50

Net Accounts Receivable - Trade

50A

50B

51A

51B

52 Finished Goods / Merchandise

52A

52B

53 Goods in Process

53A

53B

54 Raw Materials

54A

54B

55 Supplies

55A

55B

56

Total Inventory (Sum of Items 52 to 55)

56A

56B

57

Prepayments

57A

57B

58A

58B

51 Other Receivables
Inventory

58 Total Current Assets (Sum of Items 46, 47, 50, 51, 56 & 57)
Long-Term Investments
59 Stocks and Bonds

59A

59B

60 Real Estate

60A

60B

61 Others

61A

61B

62 Total Long-Term Investments (Sum of Items 59 to 61)
Fixed Assets

62A

62B

63

Land

63A

63B

64

Building

64A

64B

65 Less: Accumulated Depreciation

65A

65B

66 Net Book Value - Building

66A

66B

Other Depreciable Assets

67A

67B

68 Less: Accumulated Depreciation

68A

68B

69 Net Book Value - Other Depreciable Assets (Item 67 less Item 68)

69A

69B

Fixed Asset - Appraisal Increase

70A

70B

71 Less:Accum. Dep'n-Appraisal Increase

71A

71B

72 Net Book Value (Item 70 less Item 71)

72A

72B

73

Total Fixed Assets

73A

73B

74

Other Assets

74A

74B

75A

75B

76A

76B

77A

77B

78A

78B

79 Long-Term Debts
Deferred Credits / Other Liabilities

79A

79B

80

67

70

(Sum of Items 63, 66, 69 & 72)

75 Total Assets (Sum of Items 58, 62, 73 & 74)
LIABILITIES AND OWNER'S EQUITY
Current Liabilities
76 Accounts Payable - Trade
77 Other Payables
78 Total Current Liabilities
Long-Term Liabilities

(Sum of Items 76 & 77)

Deferred Credits/Other Liabilities

80A

80B

81 Total Liabilities (Sum of Items 78 to 80)
Owner's Equity

81A

81B

82

Balance, January 1

82A

82B

83

Additional Investment/Donated Capital

83A

83B

84

Net Income/(Loss)

84A

84B

85

Appraisal Capital

85A

85B

86

Drawings

86A

86B

87

Balance, December 31 (Sum of Items 82 to 85 less Item 86)

87A

87B

88 Total Liabilities and Owners Equity ( Sum of Items 81 and 87)
88A
Schedule 1
BREAKDOWN OF COST OF SALES/SERVICES

88B

A.

For Trading Entity:

89

Merchandise Inventory, Beginning

89A

89B

90

Add: Purchases

90A

90B

91A

91B

91C

91D

91A/B
91C/D
91E/F
91G/H

Add: Freight In
Less: Purchase Returns and Allowances
Purchase Discounts
Net Purchases

91E

91F

91G

91H

92

Goods Available for Sale (Sum of Items 89 & 91D)

92A

92B

93

Less: Merchandise Inventory, Ending

93A

93B

94

Total Cost of Sales (Item 92 less item 93)

94A

94B

BIR Form 1701AIF(ENCS) - Page 3
BREAKDOWN OF COST OF SALES/SERVICES (continuation)
B.
95

For Manufacturing Entity:
Raw Materials Inventory, Beginning

95A

95B

96

Add: Purchases

96A

96B

97A/B Add: Freight In

97A

97B

97C/D Less: Purchase Returns and Allowances

97C

97D

Purchase Discounts

97E/F

97E

97F

97G

97G/H Net Purchases

97H
98B

98

Raw Materials Available For Use (Sum of Items 95 & 97 )

98A

99

Less: Raw Materials Inventory, Ending

99A

99B

100 Total Raw Materials Used ( Item 98 less Item 99)

100A

100B

101 Direct Labor

101A

101B

102 Manufacturing Overhead:
103

Supervision & Indirect Labor

103A

103B

104

Supplies

104A

104B

105

Rental

105A

105B

106

Outside Services

106A

106B

107

Communication, Light & Water

107A

107B

108

Taxes and Licenses (Schedule 2)

108A

108B

109

Depreciation

109A

109B

Others

110A

110B

111 Total Manufacturing Overhead (Sum of Items 103 to 110)

111A

111B

112 Total Manufacturing Costs (Sum of Items 100, 101 & 111)

112A

112B

113

Add: Work in Process, Beginning

113A

113B

114

Less: Work in Process, Ending

114A

114B

115 Total Cost of Goods Manufactured

115A

115B

116

Add: Finished Goods Inventory, Beginning

116A

116B

117

Less: Finished Goods Inventory, Ending

117A

117B

118 Total Cost of Goods Manufactured & Sold
C. For Service Entity:
119 Direct Charges - Salaries, Wages & Benefits

118A

118B

119A

119B

120 Direct Charges - Materials & Supplies

120A

120B

121 Direct Charges - Rental

121A

121B

122 Direct Charges - Depreciation (Schedule 4)

122A

122B

123 Direct Charges - Outside Services

123A

123B

124 Direct Charges - Others

124A

124B

125 Total Cost of Services (Sum of Items 119 to 124)

125A

125B

110

Schedule 2
Kind of Tax

Schedule of Taxes and Licenses
Official Receipt No.
Date Paid
126C

Amount

126A

126B

126D

127A

127B

127C

127D

128A

128B

128C

128D

129A

129B

129C

129D

130A

130B

130C

130D

131A

131B

131C

131D

132A

132B

132C

132D

133A

133B

133C

133D

134A

134B

134C

134D

135 Total

135D

Schedule 3
Property

Schedule of Income - producing Properties
Nature of Income

Amount of Income

136A

136B

136C

137A

137B

137C

138A

138B

138C

139A

139B

139C

140A

140B

140C

141A

141B

141C

142A

142B

142C

143A

143B

143C

144B

144C

144A
145

Total

145