1702 New

(To be filled up by the BIR)
DLN:
BCS No.
PSIC:
Annual Income
Tax Return
Republika ng Pilipinas
Kagawaran ng Pananalapi
BIR Form No.
1702
For Corporations, Partnerships and Other Non-Individual Taxpayers

Fill in all applicable spaces. Mark all appropriate boxes with an X.
1
2
For the
Year Ended
( MM / YYYY )
Part I
Calendar
July 2008 (ENCS)

3 Amended
Return?
Fiscal
Yes
Background
TIN
10
Taxpayer's Name
11
Registered Address
13
Date of Incorporation/Creation
(MM/DD/YYYY)
15
Method of Deduction
16
Are you availing of tax relief under Special Law/

International Tax Treaty?
16A
Yes
4 Short
Period
No
Return?
Information
5 No.
sheet/s
6 ATC
No
8 Code
RDO
9 Line of Business
12 Zip Code
14 Date of Registration with BIR
(MM/DD/YYYY)
Itemized Deduction
40% Optional Standard Deduction

16B
Yes
No
Part II
If yes, specify
Computation of Tax
EXEMPT
TAXAB L E
Special Rate
Regular Rate
17
Sales/Revenues/Receipts/Fees (Sch.1)
17A
17B
17B
18
Less: Cost of Sales/Services (Sch. 2/
18A
18B
18B
19
Gross Income from Operation
19A
19B
19B
20
Add: Non-Operating & Taxable Other Income (Schedule 4)
20A
20B
21
Total Gross Income
21A
21B
21C
22
Less: Deduction
22A
22B
22C
Optional Standard Deduction (Sch. 6) OR Itemized

Deduction (Sch. 7)
23A
23
Taxable Income...
24
Tax Rate (except MCIT Rate)..
25
Income Tax .. . ..
25A
Less: Share of Other Agencies (RA 7916/8748, etc)
26A
26
27
28
23B
24A
24B
25B
26B
Minimum Corporate Income Tax (MCIT) (Section B).....

Tax Due
28A Tax on Transactions under Regular Rate (Normal Income Tax or Minimum Corporate Income Tax whichever is higher)..
27
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
28D Add: Tax Due to the BIR on transactions under Special Rate (25A less 26)
..
29
Aggregate Income Tax Due (Sum of Items 28C and 28D)
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
32
29
Tax Payable/(Overpayment)(Item 29 less Item 30H)......................................

Add: Penalties
Surcharge
32A
Interest
32B
31
Compromise
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
Drawee Bank
Date
Particulars
Amount
34 Cash/Bank
34A
Debit Memo
34B
34C
34D
35B
35C
34D
35D
Tax Debit Memo
36A
36B
36D
Others
37B
37C
37D
35
Check
36
37
35A
37A
Machine Validation/Revenue Official Receipt Details (If not filed with the bank)
\mariam
Stamp of Receiving Office/

AAB and Date of Receipt
(RO's Signature/
Bank Teller's Initial)
BIR FORM 170

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

Net Sales/Revenues/Receipts/Fees (to Item 17)
Schedule 2
Schedule of Cost of Sales (Trading / Manufacturing)

Amount under Special Rate
44
45
46
Add: Purchases of Merchandise/Cost of Goods Manufactured

Total Goods Available for Sale
47
48
Amount un
Merchandise/Finished Goods Inventory, Beginning
Less: Merchandise/Finished Goods Inventory, End

Cost of Sales (to Item 18)
Schedule 3
Schedule of Cost of Sales (Service)

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
Amount un
Schedule of Non-Operating and Taxable Other Income

Nature of Income
Special Rate
Regular Rate
Taxable Amount
56
57
58
59
60
61
62
Total Non- Operating and Taxable

Other Income (to Item 20)
Schedule 5A
63
Gross Income
64
65
Computation of Net Operating Loss Carry Over (NOLCO)
Less: Total Deductions exclusive of NOLCO & Deductions under Special Laws
Net Operating Loss Carry Over (to Schedule 5B)
Schedule 5B
Computation of Available Net Operating Loss Carry Over (NOLCO)

Net Operating Loss
Year
Incurred
Amount
(Attach additional sheet/s, if necessary)
Net Operating Loss Carry Over

Applied
Applied
Previous Year
Current Year
Expired
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
73
Minimum Corporate Income Tax (to Item 27)
Section C
Computation of Excess Minimum Corporate Income Tax (MCIT) of Previous Year

Normal Income Tax
Year
as adjusted
MCIT
Excess of MCIT over
Excess MCIT applied
Balance MCIT
Normal Income Tax
this Year
still allowable
as adjusted
74
75
76
77
as Tax Credit
M 1702 (ENCS) - PAGE 2
Rate
Taxable Amount
unt under Regular Rate
unt under Regular Rate
Rate
Taxable Amount
y)
Net Operating
Loss
(Unapplied)
2%
CIT
Expired Portion
ble
of Excess MCIT
dit
Section D
Deduction
Schedule 6
Computation of Optional Standard Deduction

Amount under EXEMPT
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
Nature of Expense / Deduction
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)
Amount under Spe
Schedule of Itemized Deduction

EXEMPT
Special Ra
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
Special 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
126
Total (Sum of Items 123 & 124)

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.
128
127
President/Vice President/Principal Officer/Accredited Tax Agent/
(Signature Over Printed Name)
Title/Position of Signatory
TIN of Signatory
Date of Issuance
Tax Agent Acc. No./Atty's Roll No. (if applicable)
Community Tax Certificate Number

129
Date of Expiry
Date Issued
Place of Issue
130
MM
131
DD
YYYY
BIR FORM 1702 (ENCS) - PAGE 3
Amount under Regular Rate
TAXABLE
Special Rate
Regular Rate
able Income
(Attach additional sheets if necessary)
Special Rate
Regular Rate
est of our knowledge and belief,
ations issued under authority
Treasurer/Asst. Treasurer
(Signature over Printed Name)
Title/Position of Signatory
TIN of Signatory
Date Issued
MM
DD
Amount
YYYY
132
ATC
Description
Tax Rate
Tax Base
ATC
Description
IC 020
6. Taxable Partnership
a. January 1 - October 31, 2005
November 1, 2005 - December 31, 2008
January 1, 2009
IC 055
b. Minimum Corporate Income Tax

7. Exempt Corporation
a. On Exempt Activities
b. On Taxable Activities
DOMESTIC CORPORATION
IC 010
IC 055
IC 030
IC 055
IC 031
IC 055
IC 040
1. In General
a. January 1- October 31, 2005
January 1, 2009
32%
35%
30%
Taxable Income from All Sources

2. Proprietary Educational Institutions
a. Proprietary Educational Institution whose
gross income from unrelated trade,business
or other activity exceeds fifty percent (50%) of
the total gross income from all sources.
January 1- October 31, 2005
January 1, 2009
2%
10%
Gross Income
On Taxable Income from All sources
32%
35%
30%

3. Non Stock-Non Profit Hospitals
a. Non Stock-Non Profit Hospitals whose
gross income from unrelated trade,business
or other activity exceeds fifty percent (50%) of
the total gross income from all sources.
January 1- October 31, 2005
January 1, 2009
2%
10%
Gross Income
On Taxable Income from All sources
32%
35%
30%

4. GOCC, Agencies & Instrumentalities
January 1, 2009
2%
Gross Income
32%
35%
30%
On Taxable Income from All Sources
IC 011
IC 010
IC 021
IC 055
IC 041

5. National Gov't & LGU's
January 1, 2009
2%
On Gross Income
32%
35%
30%
On Taxable
Income from
Proprietary activities
IC 055
2%
On Gross Income
8. General Professional Partnership

9. Corporation covered by Special Law*
RESIDENT FOREIGN CORPORATION
IC 070
1. In General
January 1, 2009
IC 055
IC 080
2. International Carriers
IC 101
3. Regional Operating Headquarters*
4. Corporation covered by Special Law*
IC 190
5. Offshore Banking
Units (OBU's)
January 1, 2009
IC 191
6. Foreign Currency
Deposit Units (FCDU's)
January 1, 2009
* 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

Description
r 1, 2005 - December 31, 2008
n covered by Special Law*

CORPORATION
r 1, 2005 - December 31, 2008
perating Headquarters*
n covered by Special Law*
r 1, 2005 - December 31, 2008
er 1, 2005 - December 31, 2008
Tax Return
-Individual Taxpayers)
ONS
Tax Rate
Tax Base
32%
35%
30%
On Taxable Income from All Sources
2%
On
0%
*same rate
as in 1a
exempt
On Taxable Income from all sources
32%
35%
30%
2%
2.5%
10%
On Taxable
Income from within the Philippines
10%
On Gross Taxable Income on

Foreign Currency Transaction
not subjected to Final Tax
32%
35%
30%
On Taxable Income
Other Than Foreign
Currency Transaction
10%
On Gross Taxable Income on

Foreign Currency Transaction
not subjected to Final Tax
32%
35%
30%
On Taxable Income
Other Than Foreign
Currency Transaction
On Gross Income
Gross Philippine Billing
On Taxable Income

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1702 New

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Copyright:

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(To be filled up by the BIR)

BIR Form No.

For Corporations, Partnerships and Other Non-Individual Taxpayers

July 2008 (ENCS)

Are you availing of tax relief under Special Law/

40% Optional Standard Deduction

Less: Cost of Sales/Services (Sch. 2/

Gross Income from Operation

Add: Non-Operating & Taxable Other Income (Schedule 4)

Total Gross Income

Optional Standard Deduction (Sch. 6) OR Itemized

Tax Rate (except MCIT Rate)..

Less: Share of Other Agencies (RA 7916/8748, etc)

Minimum Corporate Income Tax (MCIT) (Section B).....

28C Balance (Item 28A less Item 28B)...

Aggregate Income Tax Due (Sum of Items 28C and 28D)

Less: Tax Credits/Payments

Tax Payments for the First Three Quarters...

Creditable Tax Withheld for the First Three Quarters ....

Foreign Tax Credits, if applicable....................................................

Tax Paid in Return Previously Filed, if this is an Amended Return................

Others, please specify______________________________________.............

Total Tax Credits/Payments (Sum of Items 30A to 30G).....

Tax Payable/(Overpayment)(Item 29 less Item 30H)......................................

Total Amount Payable/(Overpayment) (Sum of Items 31 & 32D).........................................

Tax Debit Memo

Stamp of Receiving Office/

BIR FORM 170

(Attach additional sheet/s, if necessary)

Less: Sales Returns/Discounts

Schedule of Cost of Sales (Trading / Manufacturing)

Add: Purchases of Merchandise/Cost of Goods Manufactured

Merchandise/Finished Goods Inventory, Beginning

Less: Merchandise/Finished Goods Inventory, End

Schedule of Cost of Sales (Service)

Direct Charges - Salaries, Wages and Benefits

Direct Charges - Materials, Supplies, and Facilities

Direct Charges - Depreciation

Direct Charges - Rental

Direct Charges - Outside Services

Direct Charges - Others

Total Cost of Services (Sum of Items 49 to 54) (to Item 18)

Schedule of Non-Operating and Taxable Other Income

Creditable Tax Withheld

Total Non- Operating and Taxable

Computation of Net Operating Loss Carry Over (NOLCO)

Computation of Available Net Operating Loss Carry Over (NOLCO)

(Attach additional sheet/s, if necessary)

Net Operating Loss Carry Over

Total (To Item 118)

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

Total Gross Income for MCIT purposes

Minimum Corporate Income Tax (to Item 27)

Computation of Excess Minimum Corporate Income Tax (MCIT) of Previous Year

Excess of MCIT over

Excess MCIT applied

Normal Income Tax

M 1702 (ENCS) - PAGE 2

unt under Regular Rate

unt under Regular Rate

Computation of Optional Standard Deduction

Gross Income from Operation (from Item 19)

Non-Operating and Taxable Other Income (from Item 20/Sch. 4)