(To be filled up by the BIR)

DLN: BCS No. PSIC:

Republika ng Pilipinas Annual Income BIR Form No.

Kagawaran ng Pananalapi

For Corporations, Partnerships and Other Non-Individual Taxpayers

Tax Return 1702
July 2008 (ENCS)
Fill in all applicable spaces. Mark all appropriate boxes with an “X”.
1 For the Calendar Fiscal 3 Amended Yes 4 Short Yes 5 No. 6 ATC
2 Year Ended Return? Period sheet/s
( MM / YYYY ) No Return? No
Part I Background Information
7 TIN 8 Code
RDO 9 Line of Business
10 Taxpayer's Name

11 Registered Address 12 Zip Code

13 Date of Incorporation/Creation ###Date of Registration with BIR

(MM/DD/YYYY) (MM/DD/YYYY)

15 Method of Deduction Itemized Deduction 40% Optional Standard Deduc

16 Are you availing of tax relief under Special Law/ 16B

International Tax Treaty? 16A Yes No If yes, specify
Part II Computation of Tax
EXEMPT TAXABLE
Special Rate Regular Rate

17 Sales/Revenues/Receipts/Fees (Sch.1) 17A 17B 17B

18 Less: Cost of Sales/Services 18A 18B 18B
19 Gross Income from Operati 19A 19B 19B
20 Add: Non-Operating & Taxable Other Income (Schedule 4) 20A 20B
21 Total Gross Income 21A 21B 21C
22 Less: Deduction
Optional Standard Deduction (Sch. 6) OR 22A 22B 22C
Itemized Deduction (Sch. 7)
23 Taxable Income……………………………………………………………...……… 23A 23B
24 Tax Rate (except MCIT Rate)………………………………………………………………………….. 24A 24B
25 Income Tax ……………………….. ……. ………………………………………….. 25A 25B
26 Less: Share of Other Agencies (RA 7916/8748, etc)………………………… 26A 26B
27 Minimum Corporate Income Tax (MCIT) (Section B)………………………………………………………………...………….. 27
28 Tax Due
28A Tax on Transactions under Regular Rate (Normal Income Tax or Minimum Corporate Income Tax whichever is higher)……….. 28A
28B Less: Unexpired Excess of Prior Year's MCIT over Normal Income Tax Rate
(deductible only if the current year's tax due is the normal rate) (Section C)………………………………… 28B
28C Balance (Item 28A less Item 28B)………………………………………………………………………………...… 28C
28D Add: Tax Due to the BIR on transactions under Special Rate (25A less 26) 28D

29 Aggregate Income Tax Due (Sum of Items 28C and 28D) ………………………………….. 29
30 Less: Tax Credits/Payments
30A Prior Year's Excess Credits other than MCIT ..........................................................................................................30A
30B Tax Payments for the First Three Quarters……………………………………………..………………………………. 30B
30C Creditable Tax Withheld for the First Three Quarters ……………………..……………………………………….. 30C
30D Creditable Tax Withheld Per BIR Form No. 2307 for the Fourth Quarter …. ……...………. 30D
30E Foreign Tax Credits, if applicable..................................................…..……………………… 30E
30F Tax Paid in Return Previously Filed, if this is an Amended Return............………...………. 30F
30G Others, please specify______________________________________……………............. 30G
30H Total Tax Credits/Payments (Sum of Items 30A to 30G)…………………………….....……… 30H
31 Tax Payable/(Overpayment)(Item 29 less Item 30H)......................................…………………………… 31
32 Add: Penalties
Surcharge Interest Compromise
32A 32B 32C 32D
33 Total Amount Payable/(Overpayment) (Sum of Items 31 & 32D)........................................……….………… 33
If overpayment, mark one box only: (once the choice is made, the same is irrevocable)
To be refunded To be issued a Tax Credit Certificate To be carried over as tax credit next year/quarter
Part III D e t a i l s of P a y m e n t Stamp of Receiving Office/
Drawee Bank Date AAB and Date of Receipt
Particulars Amount (RO's Signature/
34 Cash/Bank 34A Bank Teller's Initial)
Debit Memo 34B 34C 34D

35 Check 35A 35B 35C 34D

35D

36 Tax Debit Memo 36A 36B 36D

37 Others 37A 37B 37C 37D

Machine Validation/Revenue Official Receipt Details (If not filed with the bank)

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 BIR FORM 1702 (ENCS) - PAGE 2
Section A Gross Income (Attach additional sheet/s, if necessary)
Schedule 1 Schedule of Sales/Revenues/Receipts/Fees
Special Rate Regular Rate
Creditable Tax Withheld Taxable Amount Creditable Tax Withheld Taxable Amount
38 Sale of Goods/Properties
39 Sale of Services
40 Lease of Properties
41 Total
42 Less: Sales Returns/Discounts
43 Net Sales/Revenues/Receipts/Fees (to Item 17)

Schedule 2 Schedule of Cost of Sales (Trading / Manufacturing)

Amount under Special Rate Amount under Regular Rate
44 Merchandise/Finished Goods Inventory, Beginning
45 Add: Purchases of Merchandise/Cost of Goods Manufactured
46 Total Goods Available for Sale
47 Less: Merchandise/Finished Goods Inventory, End
48 Cost of Sales (to Item 18)

Schedule 3 Schedule of Cost of Sales (Service)

Amount under Special Rate Amount under Regular Rate
49 Direct Charges - Salaries, Wages and Benefits
50 Direct Charges - Materials, Supplies, and Facilities
51 Direct Charges - Depreciation
52 Direct Charges - Rental
53 Direct Charges - Outside Services
54 Direct Charges - Others
55 Total Cost of Services (Sum of Items 49 to 54) (to Item 18)

Schedule 4 Schedule of Non-Operating and Taxable Other Income

Special Rate Regular Rate
Nature of Income
Creditable Tax Withheld Taxable Amount Creditable Tax Withheld Taxable Amount
56
57
58
59
60
61
62 Total Non- Operating and Taxable
Other Income (to Item 20)

Schedule 5A Computation of Net Operating Loss Carry Over (NOLCO)

63 Gross Income
64 Less: Total Deductions exclusive of NOLCO & Deductions under Special Laws
65 Net Operating Loss Carry Over (to Schedule 5B)
Schedule 5B Computation of Available Net Operating Loss Carry Over (NOLCO) (Attach additional sheet/s, if necessary)
Net Operating Loss Net Operating Loss Carry Over Net Operating
Year Applied Applied Loss
Amount Expired
Incurred Previous Year Current Year (Unapplied)
66
67
68
69
70 Total (To Item 118)

Section B Computation of Minimum Corporate Income Tax (MCIT) of Current Year

71 Total Gross Income for MCIT purposes

72 Tax Rate 2%
73 Minimum Corporate Income Tax (to Item 27)

Section C Computation of Excess Minimum Corporate Income Tax (MCIT) of Previous Year
Normal Income Tax Excess of MCIT over Excess MCIT applied Balance MCIT Expired Portion
Year as adjusted MCIT Normal Income Tax this Year still allowable of Excess MCIT
as adjusted as Tax Credit
74
75
76
77
 BIR FORM 1702 (ENCS) - P
Section D Deduction
Schedule 6 Computation of Optional Standard Deduction
Amount under EXEMPT Amount under Special Rate Amount under Regula
78 Gross Income from Operation (from Item 19)
79 Non-Operating and Taxable Other Income (from Item 20/Sch. 4)

80 Total
81 40% Optional Standard Deduction (to Item 22A, B & C)

Schedule 7 Schedule of Itemized Deduction

TAXABLE
Nature of Expense / Deduction EXEMPT
Special Rate Regular Rate
82 Salaries and Allowances
83 Fringe Benefits
84 Rental
85 Professional Fees
86 Director's Fees
87 Management and Consultancy Fee
88 Security Services
89 Janitorial and Messengerial Services
90 Tolling Fees
91 Other Outside Services
92 Advertising
93 Commissions
94 Repairs and Maintenance-Labor
95 Repairs and Maintenance-Materials/Supplies
96 Research and Development
97 Office Supplies
98 Royalties
99 Interest
100 SSS, GSIS, Philhealth, HDMF and Other Contributions

101 Insurance
102 Representation and Entertainment
103 Transportation and Travel
104 Fuel and Oil
105 Communication, Light and Water
106 Taxes and Licenses
107 Losses
108 Bad Debts
109 Depreciation
110 Amortization of Intangibles
111 Depletion
112 Charitable Contributions
113 Amortization of Pension Trust Contribution
114 Miscellaneous
115 Others: (attach add'l
116 sheet/s, if necessary)

117 Total Expenses (Sum of Items 82 to 116)

118 Allowance of NOLCO (from Schedule 5B)
119 Total (Sum of Items 117& 118)
(to Item 22A, B & C)

Section E Reconciliation of Net Income Per Books Against Taxable Income (Attach additional sheets if necessary)

Special Rate Regular Rate

120 Net Income/(Loss)per books………………………………………..
121 Add: Non-deductible Expenses/Taxable Other Income

122 Total (Sum of Items 120 & 121)……………………………………

123 Less: Non-taxable Income and Income subjected to Final Tax

124 Special Deductions:

125 Total (Sum of Items 123 & 124)……………………………

126 Net Taxable Income/(Net Loss) (Item 122 less Item 125)

We declare, under the penalties of perjury, that this return has 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.

127 128

President/Vice President/Principal Officer/Accredited Tax Agent/ Treasurer/Asst. Treasurer

(Signature Over Printed Name) (Signature over Printed Name)

Title/Position of Signatory TIN of Signatory Title/Position of Signatory

Tax Agent Acc. No./Atty's Roll No. (if applicable) Date of Issuance Date of Expiry TIN of Signatory
Date Issued
Community Tax Certificate Number Place of Issue Amount
MM DD YYYY

129 130 131 132

 BIR FORM 1702 (ENCS) - PAGE 3

Amount under Regular Rate

TAXABLE
Regular Rate
l sheets if necessary)

Regular Rate

knowledge and belief,

ued under authority

rer/Asst. Treasurer
e over Printed Name)

osition of Signatory

N of Signatory

Amount
 BIR FORM 1702 (ENCS) - P
ATC Description Tax Rate Tax Base ATC Description Tax Rate Tax Base
DOMESTIC CORPORATION
IC 010 1. In General IC 020 6. Taxable Partnership
a. January 1- October 31, 2005 32% a. January 1 - October 31, 2005 32%
November 1, 2005 - December 31, 2008 35% Taxable Income from All Sources November 1, 2005 - December 31, 2008 35% On Taxable Income from All Source
January 1, 2009 30% January 1, 2009 30%

IC 055 b. Minimum Corporate Income Tax 2% Gross Income IC 055 b. Minimum Corporate Income Tax 2% On
7. Exempt Corporation
IC 030 2. Proprietary Educational Institutions 10% On Taxable Income from All sources
IC 011 a. On Exempt Activities 0%
a. Proprietary Educational Institution whose IC 010 b. On Taxable Activities *same rate On Taxable Income from all sources
gross income from unrelated trade,business as in 1a
or other activity exceeds fifty percent (50%) of IC 021 8. General Professional Partnership exempt
the total gross income from all sources. 9. Corporation covered by Special Law*
January 1- October 31, 2005 32%
November 1, 2005 - December 31, 2008 35% Taxable Income from All Sources RESIDENT FOREIGN CORPORATION
January 1, 2009 30% IC 070 1. In General
a. January 1 - October 31, 2005 32% On Taxable
IC 055 b. Minimum Corporate Income Tax 2% Gross Income November 1, 2005 - December 31, 2008 35% Income from within the Philippine
IC 031 3. Non Stock-Non Profit Hospitals 10% On Taxable Income from All sources January 1, 2009 30%
IC 055 b. Minimum Corporate Income Tax 2% On Gross Income
a. Non Stock-Non Profit Hospitals whose IC 080 2. International Carriers 2.5% Gross Philippine Billing
gross income from unrelated trade,business IC 101 3. Regional Operating Headquarters* 10% On Taxable Income
or other activity exceeds fifty percent (50%) of 4. Corporation covered by Special Law*
the total gross income from all sources. IC 190 5. Offshore Banking 10% On Gross Taxable Income on
January 1- October 31, 2005 32% Units (OBU's) Foreign Currency Transaction
November 1, 2005 - December 31, 2008 35% Taxable Income from All Sources not subjected to Final Tax
January 1, 2009 30%
a. January 1 - October 31, 2005 32% On Taxable Income
IC 055 b. Minimum Corporate Income Tax 2% Gross Income November 1, 2005 - December 31, 2008 35% Other Than Foreign
IC 040 4. GOCC, Agencies & Instrumentalities January 1, 2009 30% Currency Transaction
a. January 1 - October 31, 2005 32%
November 1, 2005 - December 31, 2008 35% On Taxable Income from All Sources
January 1, 2009 30% IC 191 6. Foreign Currency 10% On Gross Taxable Income on
Deposit Units (FCDU's) Foreign Currency Transaction
IC 055 b. Minimum Corporate Income Tax 2% On Gross Income not subjected to Final Tax
IC 041 5. National Gov't & LGU's
a. January 1 - October 31, 2005 32% On Taxable a. January 1 - October 31, 2005 32% On Taxable Income
November 1, 2005 - December 31, 2008 35% Income from November 1, 2005 - December 31, 2008 35% Other Than Foreign
January 1, 2009 30% Proprietary activities January 1, 2009 30% Currency Transaction
IC 055 b. Minimum Corporate Income Tax 2% On Gross Income

* PLEASE REFER TO REVENUE DISTRICT OFFICES

BIR Form No. 1702 - Annual Income Tax Return

(For Corporations, Partnerships and Other Non-Individual Taxpayers)
GUIDELINES AND INSTRUCTIONS
BIR FORM 1702 (ENCS) - PAGE 4
Tax Base

On Taxable Income from All Sources

On Taxable Income from all sources

On Taxable
Income from within the Philippines
On Gross Income
Gross Philippine Billing
On Taxable Income
On Gross Taxable Income on
Foreign Currency Transaction
not subjected to Final Tax
On Taxable Income
Other Than Foreign
Currency Transaction

On Gross Taxable Income on

Foreign Currency Transaction
not subjected to Final Tax
On Taxable Income
Other Than Foreign
Currency Transaction