Republic of the Philippines

For BIR BCS/ Department of Finance

Use Only Item: Bureau of Internal Revenue

BIR Form No. Quarterly Remittance Return

1602Q of Final Taxes Withheld on Interest Paid on Deposits
and Deposit Substitutes/Trusts/Etc.
January 2018
Page 1 Enter all required information in CAPITAL LETTERS using BLACK ink. Mark all applicable boxes with 1602Q 01/18 P1
an “X”. Two copies MUST be filed with the BIR and one held by the Taxpayer.
1 For the Year 2 Quarter 3 Amended Return? 4 Any Taxes Withheld? 5 No. of Sheet/s Attached
1st 2nd 3rd 4th Yes No Yes No
Part I – Background Information
6 Taxpayer Identification Number (TIN) / / / 7 RDO Code
8 Withholding Agent’s Name (Last Name, First Name, Middle Name for Individual OR Registered Name for Non-Individual)

9 Registered Address (Indicate complete address. If branch, indicate the branch address. If the registered address is different from the current address, go to the RDO to update registered address by using BIR Form No. 1905)

9A ZIP Code

10 Contact Number 11 Category of Withholding Agent Private Government

12 Email Address

13 Are there payees availing of tax relief under Yes No 13A If yes, specify
Special Law or International Tax Treaty?

Part II – Computation of Tax

14 Taxes Withheld for the Quarter Based on Regular Rates (from Part IV - Schedule 1 )
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15 Taxes Withheld for the Quarter Based on Tax Treaty Rates (from Part IV - Schedule 2)
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16 Taxes Withheld for the Quarter Based on Preferential Rates (from Part IV - Schedule 3) ●

17 Total Taxes Withheld for the Quarter (Sum of Items 14 to 16)

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18 Less: Remittances Made: 1st Month of the Quarter

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19 2nd Month of the Quarter

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20 Tax Remitted in Return Previously Filed, if this is an amended return

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21 Over-remittance from Previous Quarter of the same taxable year

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22 Total Remittances Made (Sum of Items 18 to 21)

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23 Tax Still Due/(Over-remittance) (Item 17 Less Item 22)

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Add: Penalties 24 Surcharge ●

25 Interest
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26 Compromise
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27 Total Penalties (Sum of Items 24 to 26)

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28 TOTAL AMOUNT STILL DUE/(Over-remittance) (Sum of Items 23 and 27)

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To be carried over to the next quarter within the same
If over-remittance, mark one (1) box only To be refunded To be issued Tax Credit Certificate
calendar year (not applicable for succeeding year)
We declare under the penalties of perjury that this remittance return, and all its attachments, have been made in good faith, verified by us, and to the best of our knowledge and belief, is true and correct,
pursuant to the provisions of the National Internal Revenue Code, as amended, and the regulations issued under authority thereof. Further, we give consent to the processing of our information as contemplated
under the *Data Privacy Act of 2012 (R.A. No. 10173) for legitimate and lawful purposes. (If Authorized Representative, attach authorization letter)

Signature over Printed Name of President/Vice President/

Authorized Officer or Representative/Tax Agent (Indicate Title/Designation and TIN)
Tax Agent Accreditation No./ Date of Issue Date of Expiry
Attorney’s Roll No. (if applicable) (MM/DD/YYYY) (MM/DD/YYYY)

Part III – Details of Payment

Particulars Drawee Bank/Agency Number Date (MM/DD/YYYY) Amount
29 Cash/Bank Debit Memo
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30 Check
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31 Tax Debit Memo ●

32 Others (specify below)

Machine Validation/Revenue Official Receipt Details (if not filed with an Authorized Agent Bank) Stamp of Receiving Office/AAB and Date of Receipt
(RO’s Signature/Bank Teller’s Initial)

*NOTE: Please read the BIR Data Privacy Policy found in the BIR website (www.bir.gov.ph)
 BIR Form No.
Quarterly Remittance Return
1602Q of Final Taxes Withheld on Interest Paid on Deposits
January 2018
Page 2
and Deposit Substitutes/Trusts/Etc. 1602Q 01/18 P2
TIN Withholding Agent’s Name

Part IV – Details of Taxes Withheld

Schedule 1 – Details of Interest Payments and Tax Withheld Based on REGULAR RATES
Tax BSP Exchange Rate on
ATC Total Interest/Yield Paid/Accrued/Amount Taxes Withheld
Rate the Date of Remittance
Savings Deposit
1 WI161 ●
20% ●

2 WC161 ●
20% ●
Time Deposit
3 WI161 ●
20% ●

4 WC161 ●
20% ●
Government Securities
5 WI162 ●
20% ●

6 WC162 ●
20% ●
Deposit Substitutes/Others
7 WI163 ●
20% ●

8 WC163 ●
20% ●
Pre-terminated Long-Term Deposits/Investments
9 WI440 ●
20% ●

10 WI441 ●
12% ●

11 WI442 ●
5% ●

12 WC440 ●
20% ●
Foreign Currency Deposit
13 WI170 ●
15% ● ●

14 WC170 ●
15% ● ●
On Amounts Withdrawn from Decedent's Deposit Account
15 WI165 ●
6% ●

16 Total Taxes Withheld Based on Regular Rates (Sums of Items 1 to 15) (To Part II, Item 14)
●

Schedule 2 – Details of Interest Payments and Tax Withheld Based on TAX TREATY RATES (attach additional sheet/s, if necessary)
Treaty Code ATC Tax
Total Interest Taxes Withheld
(Refer to Sched 5) (same ATC in Sched 1) Rate
1 ● ●

2 ● ●

3 Total Taxes Withheld Based on Tax Treaty Rates (Sum of Items 1 and 2) (To Part II, Item 15) ●

Schedule 3 – Details of Interest Payments and Tax Withheld on Taxpayers (TPs) Enjoying PREFERENTIAL RATES (attach additional sheet/s, if necessary)
Investment Promotion
Tax
Agency (IPA) Code ATC Total Interest Taxes Withheld
Rate
(Refer to Sched 6)
1 WC390 ● ●

2 WC390 ● ●

3 Total Taxes Withheld on TPs Enjoying Preferential Rates (Sum of Items 1 & 2) (To Part II, Item 16) ●

Schedule 4 – Summary of Interest/Yield Paid and Accrued for the Month

BANKS
Particulars Foreign Currency Deposit Institutions Other Than Banks
Regular Banking Unit Total
Unit
1. On Deposit Liabilities
Taxable
Exempt
2. On Bills Payables/Borrowed Funds
Taxable
Exempt
3. Long Term Deposit on Investment
Four (4) years to less than five (5) years
Three (3) years to less than four (4) years
Less than three (3) years
Exempt
4. Others
Taxable
Exempt
Total Interest Expense per Books/FS
 BIR Form No.
Quarterly Remittance Return
1602Q of Final Taxes Withheld on Interest Paid on Deposits
January 2018
Page 3
and Deposit Substitutes/Trusts/Etc. 1602Q 01/18 P3
TIN Withholding Agent’s Name

Schedule 5 – Tax Treaty Code

Treaty Treaty Treaty Treaty Treaty Treaty Treaty
Country Country Country Country Country Country Country
Code Code Code Code Code Code Code
AU Australia CA Canada DE Germany JP Japan NG Nigeria SG Singapore UAE United Arab Emirates
AT Austria CN China HU Hungary KR Korea NO Norway ES Spain GB United Kingdom
BH Bahrain CZ Czech Republic IN India KW Kuwait PK Pakistan SE Sweden Unites States of
US
BD Bangladesh DK Denmark ID Indonesia MY Malaysia PL Poland CH Switzerland America
BE Belgium FI Finland IL Israel NL Netherlands RO Romania TH Thailand VN Vietnam
BR Brazil FR France IT Italy NZ New Zealand RU Russia
Schedule 6 – Investment Promotion Agency Tabulation
APECO Aurora Pacific Economic Zone and Freeport Authority CDC Clark Development Corporation SBMA Subic Bay Metropolitan Authority
AFAB Authority of the Freeport Area of Bataan JHMC John Hay Management Corporation Tourism Infrastructure and
TIEZA
BCDA Bases Conversion and Development Authority PEZA Philippine Economic Zone Authority Enterprise Zone Authority
BOI Board of Investments PPMC Poro Point Management Corporation Zamboanga City Special
ZCSEZA
CEZA Cagayan Economic Zone Authority RBOI-ARMM Regional Board of Investment-Autonomous Region of Muslim Mindanao Economic Zone Authority

Guidelines and Instructions for BIR Form No. 1602Q (January 2018)
Quarterly Remittance Return of Final Taxes Withheld
on Interest Paid on Deposits and Yield on Deposit Substitutes/Trusts/Etc.
Who Shall File
This return shall be filed in triplicate by all banks, non-bank financial intermediaries, d. Failure to pay/remit the deficiency tax within the time prescribed for its
finance corporations, investment and trust companies and other institutions required to withhold payment/remittance in the notice of assessment.
final income tax on interest paid/accrued on deposit and yield or any other monetary benefit from 2. A surcharge of fifty percent (50%) of the tax or of the deficiency tax, in case any
deposit substitutes and from trust fund and similar arrangements. payment/remittance has been made before the discovery of the falsity or fraud, for each
The return shall be filed by the President, Vice-President or other principal officer. of the following violations:
a. Willful neglect to file the return within the period prescribed by the Code or by rules
When and Where to File and Pay/Remit and regulations; or
The quarterly withholding tax remittance return shall be filed and the tax paid/remitted not b. A false or fraudulent return is willfully made.
later than the last day of the month following the close of the quarter during which withholding 3. Interest at the rate of double the legal interest rate for loans or forbearance of any money
was made. in the absence of an express stipulation as set by the Bangko Sentral ng Pilipinas from
Provided, however, that with respect to non-large and large taxpayers who shall file the date prescribed for payment/remittance until the amount is fully paid/remitted:
through the Electronic Filing and Payment System (eFPS), the deadline for electronically filing Provided, That in no case shall the deficiency and the delinquency interest prescribed
the return and paying/remitting the taxes due thereon shall be in accordance with the provisions of under Section 249 Subsections (B) and (C) of the National Internal Revenue Code, as
existing applicable revenue issuances. amended, be imposed simultaneously.
The return shall be filed and the tax paid/remitted with the Authorized Agent Bank (AAB) 4. Compromise penalty as provided under applicable rules and regulations.
of the Revenue District Office (RDO) having jurisdiction over the withholding agent's place of
business/office. In places where there are no Authorized Agent Banks, the return shall be filed Violation of Withholding Tax Provisions
and the tax paid/remitted with the Revenue Collection Officer (RCO) of the RDO having Any person required to withhold, account for, and pay/remit any tax imposed by the National
jurisdiction over the WA’s place of business/office, who will issue an Electronic Revenue Official Internal Revenue Code (NIRC), as amended, or who willfully fails to withhold such tax, or account
Receipt (eROR) therefor. for and pay/remit such tax, or aids or abets in any manner to evade any such tax or the
When the return is filed with an AAB, taxpayer must accomplish and submit BIR- payment/remittance thereof, shall, in addition to other penalties provided for under the Law, be
prescribed deposit slip, which the bank teller shall machine validate as evidence that liable upon conviction to a penalty equal to the total amount of the tax not withheld, or not
payment/remittance was received by the AAB. The AAB receiving the tax return shall stamp mark accounted for and paid/remitted.
the word “Received” on the return and also machine validate the return as proof of filing and Any person required under the NIRC, as amended, or by rules and regulations promulgated
payment/remittance of the tax by the taxpayer. The machine validation shall reflect the date of thereunder to pay/remit any tax, make a return, keep any record, or supply correct and accurate
payment/remittance, amount paid/remitted and transactions code, the name of the bank, branch information, who willfully fails to pay/remit such tax, make such return, keep such record, or
code, teller’s code and teller’s initial. Bank debit memo number and date should be indicated in supply such correct and accurate information, or withhold or pay/remit taxes withheld, or refund
the return for taxpayers paying/remitting under the bank debit system. excess taxes withheld on compensation, at the time or times required by law or rules and
Payments/Remittance may also be made thru the epayment channels of AABs thru either regulations shall, in addition to the other penalties provided by law, upon conviction thereof, be
their online facility, credit/debit/prepaid cards, and mobile payments. punished by a fine of not less than ten thousand pesos (P = 10,000.00) and suffer imprisonment of
The exchange rate to be used shall be the Daily Bangko Sentral ng Pilipinas (BSP) Guiding not less than one (1) year but not more than ten (10) years.
Rate on the date of payment/remittance. Every officer or employee of the Government of the Republic of the Philippines or any of its
Those payees availing of tax relief under an International Tax Treaty or Special Law shall agencies and instrumentalities, its political subdivisions, as well as government-owned or
indicate under what classification they belong. If they are availing under Special Law, they shall controlled corporations, including the Bangko Sentral ng Pilipinas, who, under the provisions of
specify which Special Law is applicable to them. the NIRC, as amended, or regulations promulgated thereunder, is charged with the duty to deduct
A taxpayer may file a separate return for the head office and for each branch or place of and withhold any internal revenue tax and to pay/remit the same in accordance with the provisions
business/office or a consolidated return for the head office and all the branches/offices. In the case of the NIRC, as amended, and other laws and who is found guilty of any offense herein below
of large taxpayers only one consolidated return is required. specified shall, upon conviction of each act or omission, be fined in a sum not less than five
thousand pesos (P = 5,000) but not more than fifty thousand pesos (P = 50,000) or imprisoned for a
Long Term Deposit or Investment
term of not less than six (6) months and one day but not more than two (2) years, or both:
The term "long-term deposit or investment certificate" shall refer to certificate of time
a. Those who fail or cause the failure to deduct and withhold any internal revenue tax under
deposit or investment in the form of savings, common or individual trust funds, deposit substitute,
any of the withholding tax laws and implementing regulations;
investment management accounts and other investments with a maturity period of not less than
b. Those who fail or cause the failure to pay/remit taxes deducted and withheld within the
five (5) years, the form of which shall be prescribed by the Bangko Sentral ng Pilipinas (BSP)
time prescribed by law, and implementing regulations; and
and issued by banks only (not by nonbank financial intermediaries and finance companies) to
c. Those who fail or cause the failure to file a return or statement within the time prescribed,
individuals in denominations of Ten thousand pesos (P 10,000) and other denominations as may
or render or furnish a false or fraudulent return or statement required under the
be prescribed by the BSP.
withholding tax laws and regulations.
Interest income derived from long-term deposit or investment in the form of savings,
If the withholding agent is the Government or any of its agencies, political subdivisions or
common or individual trust funds, deposit substitutes, investment management accounts
instrumentalities, or a government-owned or controlled corporation, the employee thereof
and other investments evidenced by certificates in such form prescribed by the BSP which
responsible for the withholding and payment/remittance of tax shall be personally liable for the
was pre-terminated by the holder before the fifth (5th) year shall be subject to a final withholding
additions to the tax prescribed by the NIRC, as amended.
tax at the rates herein prescribed to be deducted and withheld from the entire income/proceeds
thereof based on the length of time that the instrument was held by the taxpayer.
Note: All background information must be properly filled out.
Holding Period Rate  The last 5 digits of the 14-digit TIN refers to the branch code
Four (4) years to less than five (5) years 5%  All returns filed by an accredited tax agent on behalf of a taxpayer shall bear the
Three (3) years to less than four (4) years 12% following information:
Less than three (3) years 20% A. For Individual (CPAs, members of GPPs, and others)
a.1 Taxpayer Identification Number (TIN); and
Penalties a.2 BIR Accreditation Number, Date of Issue, and Date of Expiry.
There shall be imposed and collected as part of the tax: B. For members of the Philippine Bar (Lawyers)
1. A surcharge of twenty-five percent (25%) for the following violations: b.1 Taxpayer Identification Number (TIN);
a. Failure to file any return and pay/remit the amount of tax or installment due on or b.2 Attorney’s Roll Number;
before the due date; b.3 Mandatory Continuing Legal Education (MCLE)
b. Filing a return with a person or office other than those with whom it is required to be Compliance Number; and
filed, unless otherwise authorized by the Commissioner; b.4 BIR Accreditation Number, Date of Issue, and Date of Expiry
c. Failure to pay/remit the full or part of the amount of tax shown on the return, or the
full amount of tax due for which no return is required to be filed on or before the due
date;