What is 2-Day ITR for Professionals (Doctors, Brokers, Digital Income Earners, etc.)?

The 2-Day ITR is a document used to report information about the taxpayers’ earnings and taxes to the BIR. A taxpayer's tax liability is computed using their income. If the return reveals that the individual paid too much tax during the year, the taxpayer will be eligible for an income tax refund from the BIR. Anyone who makes money must file an ITR, and only a few people are exempted: minimum wage earners and those earning less than P 250,000 per year.

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Importance of 2-Day ITR for Professionals (Doctors, Brokers, Digital Income Earners, etc.)

The 2-Day ITR for Professionals (Doctors, Brokers, Digital Income Earners, etc) accelerates the preparation of the mandatory income tax return for professionals. This will provide convenience and worry-free filing for busy individuals to avoid penalties for late filing and payment. Babylon assures a proficient level of professional advice with the preparedness to process 2-Day ITR for professionals.

Requirements to Prepare 2-Day ITR for Professionals (Doctors, Brokers, Digital Income Earners, etc.)

1. Background/Personal Information of Taxpayer (In compliance with Data Privacy Act)
2. BIR Form 2303 (Certificate of Registration) for the validation of TIN and registration
3. Income and Expenses
4. Principal invoices and receipts and other documents to support transactions claimed and
5. BIR Form 2307 (Certificate of Creditable Tax Withheld at Source) if any