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New Income Tax Return BIR Form 1702 - November 2011 revised

New Income Tax Return BIR Form 1702 - November 2011 revised

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Published by BusinessTips.Ph
BIR Form 1702 version November 2011 (Annual Income Tax Return for Corporation, Partnership and Other Non-Individual Taxpayer).
BIR Form 1702 version November 2011 (Annual Income Tax Return for Corporation, Partnership and Other Non-Individual Taxpayer).

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Published by: BusinessTips.Ph on Feb 17, 2012
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06/23/2013

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(To be filled up by the BIR) 
Document Locator Number (DLN): _______________________Batch Control Sheet (BCS) No./Item No.:
Fill in all blank spaces. Shade all applicable circles.TO BE FILED IN THREE (3) COPIES: (1) BIR FILE COPY (2) BIR ENCODING COPY (3) TAXPAYER FILE COPY
 
Part 1
Contact NumberE-mail AddressLine of BusinessMethod of DeductionItemized DeductionOptional Standard Deduction (OSD)Are you availing of Tax Relief under Special or International Tax Treaty?NoYesIf yes, fill out spaces below:15A/B Investment Promotion Agency (IPA)15C/D/E Legal Basis15F/G/H Registered Activity/Program (Registration Number)15I/J Special Tax Rate
Effectivity Date of Tax Relief15K/L/M From
(MM/DD/YYYY)
15N/O/P To
(MM/DD/YYYY)
Part II
Sales/Revenues/Receipts/Fees
(from Item 80J/K/L)*
Less: Cost of Sales/Services
(from Item 81J/K/L)*
Gross Income fromOperation
(Item 16 less Item 17) (from Item 82J/K/L)*
Add: Other Taxable Income not Subjected to Final Tax (fromItem83J/K/L)*
Total Gross Income
(Sum of Item 18 & 19)(from Item 84J/K/L)*
Less: Allowable DeductionsOptional Standard Deduction
(40% of Item 20)(from Item 85J/K/L)*
Regular Allowable Itemized Deductions
(from Item 86J/K/L)*
Special Allowable Itemized Deductions
(specify) (from Item 87J/K/L/V/W/X)*
 23A/B/C
23D/E/F
Allowance for NOLCO
(from Item 57)
Total Itemized Deductions
(Sum of Items 22, 23 & 24)(from Ite 89J/K/L)*
*If with multiple activities per tax regime, use Supplemental Form (Schedule 4) 
15K15A15C15F15I15B15D15G15L
Legal BasisIncentive
15O15J
Special Rate Exempt 
%%
Exempt Special RateRegular/Normal Rat
23D24A17A18A19A23A16B18B17B18C16C25A21B19B20A21A22B22A20B23B23F23C25B24B23E22C24C
Taxpayer's NameNumber (TIN)
16A
Background Information
Taxpayer IdentificationShort Period Return?
4
Alphanumeric TaxCode
(ATC)
YesNoMinimum Corporate Income Tax (MCIT)
20
 ________________________________ 
13
IC 055
3
(MM/YYYY)
Yes
5126
No
15199101116
OR
25C
1718Computation of Tax
2223242521
Registered Address
15E15M15P15H15N21C20C19C17C
-Year EndedFiscalCalendarAmended Return?For the-
87
RDO Code-Date of Incorporation
(MM/DD/YYYY)
12
(Building Name)(Street Name)(Barangay)(Province)(Zip Code)(Unit/Room Number/Floor)(Lot Number Block Number Phase Number Building Number)(Subdivision/Village)(Municipality/City)
Regular/Normal Rate (Special Tax Relief) 
14
Republika ng PilipinasKagawaran ng Pananalapi
Kawanihan ng Rentas Internas
All information must be written in CAPITAL LETTERS.
November 2011BIR Form
Annual Income Tax Return
For Corporation, Partnership and Other Non-Individual Taxpayer
 
BIR Form No. 1702 - page 2 
Net Taxable Income
(Item 20 less Item 21
OR 
Item 25)
 
(from Item 90J/K/L)* 
Applicable Income Tax Rate (i.e., special rate or regular/normal rate)
Income Tax Due other than MCIT
(Item 26 x Item 27)
Less: Share of Other Agencies
Net Income Tax Due to National Government
(Item 28B less Item 29)
MCIT
(2% of Gross Income in Item 20C)
Income Tax Due
(MCIT in Item 31 or Normal Income Tax in Item 28C, whichever is higher)
Less: Tax Credits/Payments
(attach proof)
33APrior Year's Excess Credits Other Than MCIT
33BIncome Tax Payment under MCIT from Previous Quarter/s
33CIncome Tax Payment under Regular/Normal Rate from Previous Quarter/s
33DExcess MCIT Applied this Current Taxable Year
33E/FCreditable Tax Withheld from Previous Quarter/s
33G/HCreditable Tax Withheld per BIR Form No. 2307 for the Fourth Quarter
33I/JForeign Tax Credits, if applicable
33K/LTax Paid in Return Previously Filed, if this is an Amended Return
33MIncome Tax Payment under Special Rate from Previous Quarter/s
33NSpecial Tax Credits 
(from Item 44) (from Item 103J/K/L)* 
33O/POther Credits/Payments, specify________________________ 
33Q/R
Total Tax Credits/Payments
(Sum of Items 33E, G, I, K, M, N & O/ 33A, B, C, D, F, H, J, L & P)
Net Tax Payable/(Overpayment)
(Item 30 less Item 33Q/ Item 32 less Item 33R)
Aggregate Tax Payable/(Overpayment)
(Sum of Item 34A & 34B)
Add: Penalties
 
36A Surcharge
36B Interest
36C Compromise
36D Total Penalties
(Sum of Items 36A, 36B & 36C)
Total Amount Payable/(Overpayment)
(Sum of Item 35 & 36D)
If overpayment, shade one circle only (once the choice is made, the same is irrevocable):To be refundedTo be issued a Tax Credit Certificate (TCC)To be carried over as tax credit for next year/quarter
Part III
Regular Income Tax Otherwise Due
(30% of the Total of Item 23 & 26) (from Item 97J/K/L)*
Less: Income Tax Due
(from Item 28) (from Item 98J/K/L)*
Tax Relief Availment before Special Tax Credit
(Item 38 less Item 39) (from Item 99J/K/L)
Tax Relief Availment on Gross/Net Income (
Item 26 x 30% less Item 28) (from Item 100J/K/L)
Tax Relief on Special Allowable Itemized Deductions
(Item 23 x 30%) (from Item 101J/K/L)
Sub Total of Item41 & 42 which is equal to Item40
(from Item 102J/K/L)
Special Tax Credit
(from Item 103J/K/L)
Total Tax Relief Availment
(Sum ot Item 43 & 44) (from Item 104J/K/L)
Part IV
Cash/Bank Debit Memo
Check
Tax Debit Memo
Others
NOTE: Read Guidelines and Instructions on Page 4.*If with multiple activities per tax regime, use Supplemental Form (Schedule 4) 
49D48C
Drawee Bank/Agency
Details of Payment
AmountDate
(MM/DD/YYYY)
Number
Breakdown of Item 40 
33E33G33I33K47D46D47C46C48B49C49A
Particulars
Regular/Normal Rate Regular/Normal Rate Special Rate Exempt 
33M33O33Q34A33N36A36B373536C36D27C
%
Exempt Special Rate 
27B
%
26A43C43A
35
40C38C39C44C33P33F33H33J3234B33A33B33C33D33L
404441424849463433322745393736Tax Relief Availment
26B
43262928313038
38B44B43B46A42C41A41C45C45B
- THIS FORM IS NOT FOR SALE - 
47
47A40B46B47B41B42B44A39A27A45A42A40A38A28A39B3029
%
28B33R26C3128C48A49B
Stamp of Receiving Office/AAB and Date of Receipt (RO'sSignature/Bank Teller's Initial)
 
BIR Form No. 1702 - page 3 
Schedule 1
Gross IncomeLess: Total Deductions exclusive of NOLCO & Deductions under Special LawsNet Operating Loss Carry Over
(to Schedule 1A)
Schedule 1A
••••••••••••••••••••
Total
(Sum of Items 53C, 54C, 55C & 56C) (to Item 24)
Schedule 2
••••••••••••••••••••••••
Schedule 3
Net Income/(Loss) per booksAdd: Non-deductible Expenses/Taxable Other IncomeTotal
(Sum of Items 62, 63 & 64)
Less: Non-taxable Income and Income Subjected to Final TaxSpecial DeductionsTotal
(Sum of Items 66, 67, 68 & 69)
Net Taxable Income/(Loss)
(Item 65 less Item 70)
We declare under the penalties of perjury, that this annual return has been made in good faith, verfied 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.Community Tax Certificate NumberPlace of IssueDate of Issue
(MM/DD/YYYY)
Amount
1. a. InGeneral
Taxable Income from All Sources
7. Exempt Corporationb. MinimumCorporateIncomeTax
Gross Income
a. OnExempt Activities2. Proprietary Educational Institutions
Taxable Income from All Sources
b. OnTaxableActivities
Taxable Income from All Sources
a. Proprietary Educational Institutionwhosegross incomefromunrelatedtrade, business8. General Professional Partnershipor other activity exceeds fifty percent (50%) of thetotal gross incomefromall sources.
Taxable Income from All Sources
9. Corporationcoveredby Special Law*b. MinimumCorporateIncomeTax
Gross Income
3. Non-Stock, Non-Profit Hospitals
Taxable Income from All Sources
1. a. InGeneral
Taxable Income from Within the Philippines
a. Non-Stock, Non-Profit Hospirals whosegross incomefromunrelatedtrade, business b. MinimumCorporateIncomeTax
Gross Income
or other activity exceeds fifty percent (50%) of thetotal gross incomefromall sources.
Taxable Income from All Sources
2. International Carriers
Gross Philippine Billing
b. MinimumCorporateIncomeTax
Gross Income
3. Regional OperatingHeadquarters*
Taxable Income
4. a. Government OwnedandControlledCorporations(GOCC), Agencies &Instrumentalities
Taxable Income from All Sources
4. Corporationcoveredby Special Law*b. MinimumCorporateIncomeTax
Gross Income
5. OffshoreBankingUnits (OBUs)5. a. National Government andLocal Government Units (LGU)
Taxable Income from Proprietary Activities
a. ForeignCurrency Transactionnot subjectedtoFinal Tax
Gross Taxable Income on Foreign Currency Transactions not subjected to Final Tax
b. MinimumCorporateIncomeTax
Gross Income
b. Other thanForeignCurrency Transaction
Taxable Income Other Than Foreign Currency Transaction
6. a. TaxablePartnership
Taxable Income from All Sources
6. ForeignCurrency Deposit Units (FCDU)b. MinimumCorporateIncomeTax
Gross Income
a. ForeignCurrency Transacti.onnot subjectedtoFinal Tax
Gross Taxable Income on Foreign Currency Transactions not subjected to Final Tax
b. Other thanForeignCurrency Transaction
Taxable Income Other Than Foreign Currency Transaction
*Please refer to Revenue District Offices 
75
74
7677ATC
IC010
DESCRIPTIONDOMESTIC CORPORATION
TAX RATETAX BASE
DESCRIPTIONDOMESTIC CORPORATION
ATC
IC055IC030IC055
2.5%10%30%2%10%0%30%exempt10%
IC011IC010IC021
RESIDENT FOREIGN CORPORATION
IC070
30%2%10%30%
IC055IC020IC055IC191
30%
IC055IC041
2%10%30%30%
IC055IC031IC055IC040
2%30%2%2%30%30%2%
IC080IC101IC190
TAX BASETAX RATE
71
Regular/Normal Rate 
687069675753545556Reconciliation of Net Income Per Books Against Taxable Income
(attach additional sheet/s, if necessary) 
Computation of Net Operating Loss Carry Over (NOLCO)
5051
Computation of Available Net Operating Loss Carry Over (NOLCO)
(attach additional sheet/s, if necessary) 
52
Expired/Used Portion of Excess MCITExcess MCIT Applied this Current Taxable Year
Computation of Excess Minimum Corporate Income Tax (MCIT) of Previous Year6263656664
54C55C56C
606159585152
Amount53A54A
50
56B53C57ExpiredNet Operating LossNet Operating Loss Carry Over (NOLCO)55BNormal Income Tax as adjustedYearNet Operating Loss (Unapplied)Year Incurred55A56A53B54BApplied Previous YearApplied Current YearBalance MCIT Still Allowable as Tax CreditExcess MCIT over Normal Income Tax as adjustedMCIT53D54D55D56DTIN of Signatory
73
53E54E55E56E
72
President/Vice President/Principal Officer/Accredited Tax Agent(Signature over Printed Name)TIN of SignatoryTreasurer/Assistant TreasurerTitle/Position of Signatory(Signature over Printed Name)Tax Agent Accreditation No./Atty's Roll No. (if applicable)Title/Position of SignatoryDate of IssuanceDate of Expiry
62B63B64B65B71B
69B70B68B66B67B
63A62A
64A
65A66A
67A68A69A70A71A
Special Rate 

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how i download this form to excel file.
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sir, can we submit this self-printed form to BIR?
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