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(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
Creditable Tax Withheld

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)


Amount under Special 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

Amount un

Schedule of Non-Operating and Taxable Other Income


Nature of Income

Special Rate
Creditable Tax Withheld

Regular Rate
Taxable Amount

Creditable Tax Withheld

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 Special Rate

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
November 1, 2005 - December 31, 2008
January 1, 2009

32%
35%
30%

Taxable Income from All Sources

b. Minimum Corporate Income Tax


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
November 1, 2005 - December 31, 2008
January 1, 2009

2%
10%

Gross Income
On Taxable Income from All sources

32%
35%
30%

Taxable Income from All Sources

b. Minimum Corporate Income Tax


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
November 1, 2005 - December 31, 2008
January 1, 2009

2%
10%

Gross Income
On Taxable Income from All sources

32%
35%
30%

Taxable Income from All Sources

b. Minimum Corporate Income Tax


4. GOCC, Agencies & Instrumentalities
a. January 1 - October 31, 2005
November 1, 2005 - December 31, 2008
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

b. Minimum Corporate Income Tax


5. National Gov't & LGU's
a. January 1 - October 31, 2005
November 1, 2005 - December 31, 2008
January 1, 2009

2%

On Gross Income

32%
35%
30%

On Taxable
Income from
Proprietary activities

IC 055

b. Minimum Corporate Income Tax

2%

On Gross Income

8. General Professional Partnership


9. Corporation covered by Special Law*
RESIDENT FOREIGN CORPORATION
IC 070
1. In General
a. January 1 - October 31, 2005
November 1, 2005 - December 31, 2008
January 1, 2009
IC 055
b. Minimum Corporate Income Tax
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)
a. January 1 - October 31, 2005
November 1, 2005 - December 31, 2008
January 1, 2009
IC 191

6. Foreign Currency
Deposit Units (FCDU's)
a. January 1 - October 31, 2005
November 1, 2005 - December 31, 2008
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