Bir Form 1702 Rt – Fill Out and Use This PDF

The BIR Form No. 1702-RT, known as the Annual Income Tax Return for Corporation, Partnership, and Other Non-Individual Taxpayer Subject Only to REGULAR Income Tax Rate, is a crucial document filed with the Philippines' Bureau of Internal Revenue (BIR). It applies to entities not subject to special or preferential tax rates, detailing their revenue, allowable deductions, and the tax due based on the regular income tax rate for a specific fiscal or calendar year. Entities are required to enter all pertinent information in capital letters and ensure the form is properly filled out to comply with tax regulations. Click the button below to learn more about accurately completing and submitting this form.

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Bir Form 1702 Rt PDF Details

In navigating the complexities of corporate taxation, the BIR Form No. 1702-RT emerges as a pivotal document for corporations, partnerships, and other non-individual entities operating within the Philippines. Enacted in June 2013, this annual income tax return form serves as a comprehensive tool for entities that are exclusively subject to the regular income tax rate, delineating a structured avenue for reporting annual revenues, deductions, and taxable income effectively. It requires meticulous completion, including information such as taxpayer identification number, registration details, and the method of deductions—whether itemized or opting for the optional standard deduction. Furthermore, the form outlines the procedure for calculating both the net tax payable and any overpayments, the latter of which can be directed towards refunds, tax credit certificates, or carried over as a credit for future tax periods. The inclusion of schedules for elaborating on sales, cost of sales/services, and other taxable income not subjected to final tax, alongside itemized deductions and net operating loss carryovers, underscores the form's role in ensuring transparency and accuracy in the fulfillment of tax obligations. By mandating the submission of two copies to the BIR while retaining one, the process guarantees both compliance with the nation's tax regulatory framework and facilitates a smoother audit and review process. The form’s design, emphasizing clarity and comprehensiveness, underscores the government's commitment to efficient tax administration and the importance of an organized approach to corporate financial reporting.

Question	Answer
Form Name	Bir Form 1702 Rt
Form Length	8 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	2 min
Other names	1702 bir form, bir form 1702q, bir form 1702 annual income tax return, form 1702 rt

Form Preview Example

For BIR Use Only

BCS/ Item

1702-RT06/13P1

	Annual Income Tax Return	BIR Form No.

Republika ng Pilipinas	For Corporation, Partnership and Other Non-Individual	1702-RT
Kagawaran ng Pananalapi

Kawanihan ng Rentas	Taxpayer Subject Only to REGULAR Income Tax Rate	June 2013
Internas	Enter all required information in CAPITAL LETTERS. Mark applicable boxes with an “X”.
		Page 1
	Two copies MUST be filed with the BIR and one held by the taxpayer.

1 For	Calendar	Fiscal	3 Amended Return?		4 Short Period Return? 5 Alphanumeric Tax Code (ATC)
2 Year Ended (MM/20YY)						IC 055	Minimum Corporate Income Tax (MCIT)
2 Year Ended (MM/20YY)			Yes	No	Yes	No
	/20		Yes	No	Yes	No
	/20

Part I – Background Information

			-	-	-	0	0	0	0
										7 RDO Code
6 Taxpayer Identification Number (TIN	)


											/	/
8 Date of Incorporation/Organization		(MM/DD/YYYY)
8 Date of Incorporation/Organization		(MM/DD/YYYY)

9 Registered Name (Enter only 1 letter per box using CAPITAL LETTERS)

10 Registered Address (Indicate complete registered address)

11 Contact Number

12 Email Address

13 Main Line of Business

14 PSIC Code

15 Method of Deductions

ITEMIZED DEDUCTIONS [SECTIONS 34 (A-J), NIRC]

Optional Standard Deduction(OSD) – 40%of Gross Income [Section 34(L), NIRC as amended by RA No.9504]

	Part II – Total Tax Payable	(Do NOT enter Centavos)

16 Total Income Tax Due (Overpayment) (From Part IV Item 44)

17 Less: Total Tax Credits/Payments (From Part IV Item 45)

18 Net Tax Payable (Overpayment) (Item 16 Less Item 17) (From Part IV Item 46)

19 Add: Total Penalties (From Part IV Item 50)

20 TOTAL AMOUNT PAYABLE (Overpayment) (Sum of Item 18 and 19) (From Part IV Item 51)

21 If Overpayment, mark “X” one box only (Once the choice is made, the same is irrevocable)


To be refunded	To be issued a Tax Credit Certificate (TCC)	To be carried over as a tax credit for next year/quarter

We declare under the penalties of perjury, that this annual 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. (If Authorized Representative, attach authorization letter and indicate TIN)

Signature over printed name of President/Principal Officer/ Authorized Representative

Signature over printed name of Treasurer/ Assistant Treasurer

Title of Signatory

Number of pages filed

2 Community Tax Certificate

23 Date of Issue

(CTC) Number/SEC Reg. No

(MM/DD/YYYY

)

24 Place of Issue

5 Amount, if CTC

Part III – Details of Payment

Details of Payment

Drawee Bank/ Agency

Number

Date (MM/DD/YYYY)

Amount

26 Cash/Bank Debit Memo

27 Check

28 Tax Debit Memo

29 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)

How to Edit Bir Form 1702 Rt Online for Free

You are able to prepare bir 1702 form effectively using our online editor for PDFs. In order to make our tool better and less complicated to utilize, we continuously work on new features, with our users' suggestions in mind. All it requires is a few easy steps:

Step 1: Access the PDF inside our tool by hitting the "Get Form Button" above on this webpage.

Step 2: As you start the PDF editor, you will get the document ready to be completed. Other than filling in different blank fields, you may also perform various other actions with the Document, that is adding custom textual content, changing the initial text, adding illustrations or photos, placing your signature to the form, and more.

This PDF form will involve specific information; in order to ensure consistency, be sure to heed the suggestions further down:

1. Start filling out the bir 1702 form with a selection of necessary blanks. Collect all of the required information and be sure absolutely nothing is missed!

Step no. 1 for completing bir form 1702q

2. Once your current task is complete, take the next step – fill out all of these fields - Total Income Tax Due Overpayment, Less Total Tax CreditsPayments, Net Tax Payable Overpayment Item , Add Total Penalties From Part IV, TOTAL AMOUNT PAYABLE Overpayment, To be issued a Tax Credit, To be carried over as a tax credit, We declare under the penalties of, Signature over printed name of, Signature over printed name of, Date of Issue MMDDYYYY, Amount if CTC, Amount, Title of Signatory, and Community Tax Certificate CTC with their corresponding information. Make sure to double check that everything has been entered correctly before continuing!

3. The next part is quite easy, Stamp of receiving OfficeAAB and, Others Specify Below, and Machine ValidationRevenue Official - each one of these form fields needs to be filled out here.

The best ways to complete bir form 1702q portion 3

4. Your next paragraph needs your attention in the following places: Taxpayer Identification Number TIN, June Registered Name, Part IV Computation of Tax Do NOT, Net SalesRevenuesReceiptsFees, Less Cost of SalesServices From, Gross Income from Operation Item , Add Other Taxable Income Not, Total Gross Income Sum of Items , Less Deductions Allowable under, Total Itemized Deductions Sum of, OR in case taxable under Sec A A, Optional Standard Deduction of, Net Taxable Income Item Less, Income Tax Rate, and Income Tax Due other than MCIT. Remember to fill in all needed information to move further.

bir form 1702q completion process detailed (part 4)

5. The document has to be wrapped up by going through this segment. Here you'll find a full set of fields that need to be filled out with accurate details in order for your form usage to be complete: Minimum Corporate Income Tax MCIT, Total Income Tax Due Normal, Less Total Tax CreditsPayments, Net Tax Payable Overpayment Item , Add Penalties, Surcharge, Interest, Compromise, Total Penalties Sum of Items to , Total Amount Payable Overpayment, Part V Tax Relief Availment Do, Special Allowable Itemized, Add Special Tax Credits From, Total Tax Relief Availment Sum of, and Part VI Information External.

Always be really mindful while filling out Add Penalties and Add Special Tax Credits From, since this is the part where a lot of people make mistakes.

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Bir Form 1702 Rt – Fill Out and Use This PDF

Bir Form 1702 Rt PDF Details

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