1702 new

(To be filled up by the BIR)DLN: BCS No. PSIC:

Fill in all applicable spaces. Mark all appropriate boxes with an “X”.

1 For the Calendar Fiscal 3 Amended Yes Yes 5 No.2 Year Ended Return? Period sheet/s ( MM / YYYY ) No Return? NoPart I B a c k g r o u n d I n f o r m a t i o n

7 TIN Code

10 Taxpayer's Name

11 Registered Address

13 Date of Incorporation/Creation ###Date of Registration with BIR (MM/DD/YYYY)

15 Method of Deduction Itemized Deduction 40% Optional Standard Dedu

16 Are you availing of tax relief under Special Law/ 16BInternational Tax Treaty? 16A Yes No If yes, specify

Part II C o m p u t a t i o n o f T a x E X E M P T T A X A B L E

Special Rate Regular Rate

17 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 22A 22B 22C

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

(deductible only if the current year's tax due is the normal rate) (Section C)………………………………… 28B

28C

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: PenaltiesSurcharge 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/quarterPart 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 ReceiptParticulars Amount (RO's Signature/34 Cash/Bank 34A Bank Teller's Initial) Debit Memo 34B 34C 34D

34D35 Check 35A 35B 35C 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)

\mariam

4 Short 6 ATC

8 RDO 9 Line of Business

12 Zip Code

(MM/DD/YYYY)

Sales/Revenues/Receipts/Fees (Sch.1)

Optional Standard Deduction (Sch. 6) OR Itemized Deduction (Sch. 7)

28A Tax on Transactions under Regular Rate (Normal Income Tax or Minimum Corporate Income Tax whichever is higher)………..

28B Less: Unexpired Excess of Prior Year's MCIT over Normal Income Tax Rate

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

28D Add: Tax Due to the BIR on transactions under Special Rate (25A less 26)

Republika ng PilipinasKagawaran ng Pananalapi

For Corporations, Partnerships and Other Non-Individual Taxpayers July 2008 (ENCS)1702

Annual IncomeTax Return

BIR Form No.

BIR FORM 1702 (ENCS) - PAGE 2

Section A

Schedule 1 Schedule of Sales/Revenues/Receipts/Fees


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

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

Nature of Income Special Rate Regular Rate

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

Net Operating Loss Net Operating Loss Carry Over Net Operating

YearAmount

Applied AppliedExpired

Loss

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

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

Gross Income (Attach additional sheet/s, if necessary)

Add: Purchases of Merchandise/Cost of Goods Manufactured

Computation of Available Net Operating Loss Carry Over (NOLCO) (Attach additional sheet/s, if necessary)

2%


Section D Deduction

Schedule 6 Computation of Optional Standard Deduction

Amount under EXEMPT Amount under Special Rate Amount under Regular Rate

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

Nature of Expense / Deduction EXEMPTTAXABLE

Special 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

116

117 Total Expenses (Sum of Items 82 to 116)

118 Allowance of NOLCO (from Schedule 5B)

Others: (attach add'l

sheet/s, if necessary) sheet/s, if necessary)

119 Total (Sum of Items 117& 118)

(to Item 22A, B & C)

Section E


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

Community Tax Certificate Number Place of IssueDate Issued

AmountMM DD YYYY

129 130 131 132

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


Amount under Regular Rate

TAXABLE

Regular Rate

Regular Rate

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

Treasurer/Asst. Treasurer

(Signature over Printed Name)

Title/Position of Signatory

TIN of Signatory

Amount

132

(Attach additional sheets if necessary)


ATC Description Tax Rate Tax Base ATC Description Tax Rate Tax Base

DOMESTIC CORPORATIONIC 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 Sources 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% OnIC 030 2. Proprietary Educational Institutions 10% On Taxable Income from All sources 7. Exempt Corporation

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% RESIDENT FOREIGN CORPORATION November 1, 2005 - December 31, 2008 35% Taxable Income from All Sources 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 PhilippinesIC 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 Incomea. 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 IncomeIC 055 b. Minimum Corporate Income Tax 2% Gross Income November 1, 2005 - December 31, 2008 35% Other Than ForeignIC 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 TransactionIC 055 b. Minimum Corporate Income Tax 2% On Gross Income not subjected to Final TaxIC 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


Tax Base

On Taxable Income from All Sources

On Taxable Income from all sources

On Taxable Income from within the Philippines

On Gross IncomeGross Philippine BillingOn 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

BIR Form No. 1702 - Annual Income Tax Return

(For Corporations, Partnerships and Other Non-Individual Taxpayers)GUIDELINES AND INSTRUCTIONS

1702 new

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