BIR FORM 1702 PRIMER
ANNUAL INCOME TAX RETURN FOR CORPORATIONS, PARTNERSHIPS
AND OTHER NON-INDIVIDUAL TAXPAYERS
Every corporation, partnership no matter how created or organized, joint stock
companies, joint accounts, associations (except foreign corporation not engaged in trade
or business in the Philippines and joint venture or consortium formed for the purpose of
undertaking construction projects or engaging in petroleum, coal, geothermal and other
energy operations), government-owned or controlled corporations, agencies and
instrumentalities shall render a true and accurate income tax return in accordance with the
provisions of the Tax Code. The return shall be filed by the president, vice-president or
other principal officer, and shall be sworn to by such officer and by the treasurer or
assistant treasurer.
Every general professional partnership (GPP) shall file this return setting forth the items
of gross income and of deductions and the names, TINS, addresses and shares of each of
the partners.
As provided under Section 52 of the Tax Code, juridical persons mentioned above
shall file an annual income tax return summarizing its gross income and deductions
during the taxable year (calendar or fiscal) upon which income tax as provided in Title
II of the Tax Code, as amended, shall be imposed which computed tax shall be
decreased by the amount of tax previously paid or assessed during the preceding
quarters.
This Form is to be accomplished by the taxpayer in three (3) copies. The first two (2)
copies upon filing will be submitted to BIR for its File and Encoding Copies while the
third copy is retained by the taxpayer for its File Copy.
This Form is required to be filed, whether or not, based on computation done in the
return, the same results to an amount still due and payable to the Government.
The following are the general instructions in accomplishing this Form:
(1) All applicable spaces must be filled in;
(2) All information required by the Form must be written in capital fonts
(CAPITAL LETTERS);
(3) Mark with an “X” all applicable circles.
(A) Contents and Instruction/Description of the Fields of Information/Data
Required by the Form. –
Field No.
1-2
Information/Data
Instruction/Description
Part 1 Background Information
For the O Calendar O Fiscal
Mark the applicable circle with an “X”. This refers to the
accounting year (calendar or fiscal year) employed by the
Year Ended (MM/YYYY)
taxpayer covering the taxable year on which basis the
1
annual income tax return is being accomplished. Calendar
year means the twelve-month period beginning the month
of January ending the month of December. Fiscal year
means the twelve-month period beginning with any
month other than the month of January. Indicate the
month and the year covered by the return being filed.
3
Amended Return?
O Yes
O No
Mark the applicable circle with an “X”. This item shall
indicate whether or not the
tax return being
accomplished and filed for the year is a correction or an
amendment to a previously filed income tax return
covering the same year.
4
Short Period Return?
O Yes
O No
Mark the applicable circle with an “X”. Short period
return refers to return that is required to be filed by a
juridical person whose period of filing is shorter than
the expected 12-month period covered by the return
either because that person has commenced operations
during the interim period or is retiring from business
with due notice given to the BIR.
5
Alphanumeric Tax Code (ATC)
Write the alphanumeric tax code which is assigned by
the Bureau upon registration based on the tax type /tax
rate and the nature of the business of the taxpayer. This
ATC (refer to page 3) is required to be accomplished as
this serves as a tool in the Integrated Tax System (ITS)
of the Bureau to sort data/information stored in the ITS
database necessary to come up with statistical data and
reports.
IC 055 Minimum Corporate Income Tax
(MCIT)
O
______ ________________________
O
Mark the applicable circle with an “X” if the taxpayer is
subject to MCIT for this taxable period covered by this
Form. A minimum MCIT of two percent (2%) of the
gross income is imposed upon any domestic corporation
and resident foreign corporation beginning on the fourth
(4th) taxable year (whether calendar or fiscal year,
depending on the accounting period employed)
immediately following the taxable year in which such
corporation commenced its business operation. The
MCIT shall be imposed whenever the corporation has
zero or negative taxable income or whenever the amount
of MCIT is greater than the normal income tax due from
such corporation. Any excess of the MCIT over the
normal income tax shall be carried forward and credited
against the normal income tax for the three (3) immediate
succeeding taxable years. The computation and the
payment of MCIT shall apply each time a corporate
income tax return is filed, whether quarterly or annual
basis. If the taxpayer is not subject to the MCIT, mark
the applicable circle with an “X” and fill the space
indicating the applicable ATC (refer to page 3) of the
juridical person.
6
Taxpayer Identification Number (TIN)
Fill in the Taxpayer Identification Number (TIN) issued
to the taxpayer evidencing its registration with the
Bureau. The TIN comprises of a nine to thirteen (9 to 13)
2
digit numeric code where the first nine (9) digits is the
TIN proper and the last four (4) digits is the branch
code. The branch code shall always be 0000.
7
RDO Code
Indicate the Revenue District Office Code, comprising of
three (3) digits numeric or alphanumeric code, where the
taxpayer’s head office is registered. For example: 001 for
Laoag City, 43A for East Pasig.
8
Date of Incorporation (MM/DD/YYYY)
Write the taxpayer’s date of incorporation indicating the
month, day and year when the corporation has been
incorporated as per Certificate of Registration issued by
the Securities and Exchange Commission (SEC) and
other regulatory agencies like Cooperative Development
Authority, National Electrification Authority, etc. For
example, if the date of incorporation is October 3, 2000,
write 10 03 2000.
9
Taxpayer’s Name
Write the name of the taxpayer based on the Certificate of
Registration (BIR Form No. 2303) issued by the BIR.
10
Registered Address
Write the registered address of the principal place of
business of the taxpayer. All applicable spaces must be
filled in.
Unit/Room Number/Floor
Building Name
Lot/Block/Phase/Building Number
Street Name
Subdivision/Village
Barangay
Municipality/City
Province
Zip Code
11
Contact Number
Write the telephone or cell phone number of the taxpayer
where the taxpayer can be contacted in case there is a
need to validate certain information /data contained in the
return filed.
12
Email Address
Write the official email address of the taxpayer wherein
BIR will be able to communicate electronically in case
there is a need to validate certain information/data
contained in the return filed.
13
Line of Business
Indicate the nature of the business the taxpayer is
engaged in as indicated in the Certificate of Registration
(BIR Form No. 2303).
14
Method of Deduction
O Itemized Deduction
O Optional Standard Deduction (OSD)
Mark the applicable circle with an “X” the method of
deduction employed by the taxpayer in claiming the
deductions for the taxable year whether itemized or
optional standard deduction. The chosen method of
deduction used in the first quarter of the year shall be
consistently applied throughout the year.
3
NOTE: Accomplish Supplemental Form (Schedule 4 – Tax Relief Under Special Law/International Tax Treaty), if
taxpayer has multiple activities. Show the details of each and every registered activity and/or program on Section 1 of
said Supplemental Form. In Section 2, indicate the type of tax regime per column (Exempt, Special Rate,
Regular/Normal Rate) on page 1 and on the first three (3) columns of page 2. The sum of each tax regime shall be
indicated in the appropriate total column of the concerned tax regime. Use additional sheet/s as needed. The
aggregate sum for each tax regime of Schedule 4 (columns J, K and L) shall be forwarded/copied to applicable fields
(columns A, B and C) in Part II and III of the Form. If there is only one activity per tax regime, fill in only Items 15,
15A to 15P, Part II and Part III of the Form.
15
Are you availing of Tax Relief under Special
or International Tax Treaty?
O No
O Yes
Mark the applicable circle with an “X”. The yes circle is
applicable to those who are availing of preferential tax
rates/incentives and privileges/exemptions granted by
special law, international agreement or treaty. If the
answer to this query is yes, the taxpayer is required to fill
in the specific details to indicate the required
information/data to which the particular incentive/
exemption/preferential tax rate is being availed.
All applicable spaces must be filled in under the
appropriate column whether Exempt, Special Rate, and/or
Regular/Normal Rate (Special Tax Relief).
If yes, fill out spaces below:
15A/B
Investment Promotion Agency (IPA)
Write the name of the investment promotion agency
(IPA) which granted the exemption/incentive/preferential
tax rate. For example, Board of Investment (BOI),
Philippine Economic Zone Authority (PEZA), Subic Bay
Metropolitan
Authority
(SBMA),
Cooperative
Development Authority (CDA), Department of Foreign
Affairs (DFA), etc.
15C/D/E
Legal Basis
Write the specific special law, international agreement or
treaty which is the legal basis for the grant of the tax
exemption/ incentive/preferential tax rate. For example,
EO 226 – Omnibus Investment Code, RA 7196 - PEZA
Law, in the case of regular/normal rate (special tax relief)
RA 8525– Adopt-a-School Program or RA 9257 Senior
Citizens Act, etc.
15F/G/H
Registered Activity/Program (Registration
Number)
Write the registered activity/program as shown in the
registration certificate issued by the concerned IPA.
Indicate the registration number, if applicable.
Special Tax Rate
Write the preferential tax rate provided by specific
special law, international agreement or treaty. Indicate
0.00% if exempt from tax and/or the special tax rate in
the appropriate fields, for example, 5.00%, etc.
15I/J
Effectivity Date of Tax Relief
15K/L/M
Indicate the start date of the effectivity on the grant of tax
exemption/incentive/preferential tax rate as shown in the
certificate of registration issued by the concerned IPA by
writing the month, day and year. For example: May 1,
2011 as the start date, write 05 01 2011.
From (MM/DD/YYYY)
4
15N/O/P
To (MM/DD/YYY)
Indicate the end date of the effectivity on the grant of tax
exemption/incentive/preferential tax rate as shown in the
certificate of registration issued by the concerned IPA by
writing the month, day and year. For example: April 30,
2014 as the end date, write 04 30 2014.
Part II Computation of Tax
(NOTE: The tax shall be computed per tax regime.)
A – Exempt; B – Special Rate; C – Regular/Normal Rate
16A/B/C
Sales/Revenues/Receipts/Fees
(from Item 80J/K/L)
Write the amount of Sales/Revenues/Receipts/Fees (net
of Sales Returns, Allowances and Discounts) during the
taxable year from trade/business.
17A/B/C
Less: Cost of Sales/Services
(from Item 81J/K/L)
Indicate the amount of direct cost incurred in generating
the sales from goods/services.
18A/B/C
Gross Income from Operation
(Item 16 less Item17)
(from Item 82J/K/L)
Write the difference between the Sales/Revenues/
Receipts/Fees and the Cost of Sales/Services which is
Item 16A less 17A for Exempt, 16B less 17B for Special
Rate and/or 16C less 17C for Regular/Normal Rate.
19A/B/C
Add: Other Taxable Income not Subjected to
Final Tax
(from Item 83J/K/L)
Indicate the amount/s of non-business income which has
not been subjected to final tax.
20A/B/C
Total Gross Income
(Sum of Item 18 and 19)
(from Item 84J/K/L)
Write the sum of gross income from operations and other
taxable income not subjected to final tax which is
Item18A and 19A for Exempt, 18B and 19B for Special
Rate, and 18C and 19C for Regular/Normal Rate.
Less: Allowable Deductions
A corporation shall choose either the itemized or optional
standard deduction. Indicate the amount of allowable
deductions pursuant to Section 34 of the Tax Code.
Corporations may elect a standard deduction in an
amount not exceeding forty percent (40%) of its gross
income. Taxpayer shall signify its intention to elect the
optional standard deduction (OSD) by marking with “X”
the circle pertaining to OSD as the method of deduction
chosen in Item 14. Such election when made in the first
quarter shall be irrevocable for the taxable year for which
the return is made.
Optional Standard Deduction
(40% from Item 20)
(from Item 85J/K/L)
Write the amount of computed OSD if the option to use
OSD is exercised. The amount of OSD is forty percent
(40%) of the Gross Income.
21C
A corporation who availed of and claimed the OSD is
still required to submit its financial statements when it
files its annual tax return and to keep such records
pertaining to its gross income.
OR
5
22A/B/C
Regular Allowable Itemized Deduction
(from Item 86J/K/L)
Indicate the amount of the allowable expenses incurred
during the taxable year, if the method of deduction
chosen is the itemized deduction method in Item 14. The
regular allowable itemized deductions refer to ordinary
and necessary trade and business expenses paid or
incurred during the taxable year in carrying on or which
are directly attributable to the development, management,
operations and/or conduct of trade and business.
Itemized deductions also include interest, taxes, losses,
bad debts, depreciation, depletion, charitable and other
contributions, research and development and pension
trust.
23A/B/C
23D/E/F
Special Allowable Itemized Deduction
(specify)
(from Item 87J/K/L/V/W/X)
Indicate the amount of special allowable itemized
deduction as provided under the existing regular and
special laws, rules and issuances such as, but not limited
to, Rooming-in and Breastfeeding Practices under RA
7600, Adopt-a-School Program under RA 8525, Senior
Citizen Act under RA 9257, Free Legal Assistance under
RA 9999.
Allowance for NOLCO
(from Item 57)
Write the amount of the applied portion of Net Operating
Loss Carry Over (NOLCO) computed in Item 57 of Part
VI, Schedule 1A.
25A/B/C
Total Itemized Deductions
(Sum of Items 22, 23 & 24)
(from Item 89J/K/L)
Indicate the sum of the regular and special allowable
itemized deductions, and allowance for NOLCO (Sum of
Items 22A, 23A & 23D/ 22B, 23B, 23E, & 24B/ 22C,
23C, 23F & 24C).
26A/B/C
Net Taxable Income
(Item 20 less Item 21 OR Item 25)
(from Item 90J/K/L)
Indicate the amount of the net taxable income which is
the difference between the total gross income and
optional standard deduction OR the difference between
the total gross income and total itemized deductions. (For
taxpayers who opted to avail of OSD – Item 20C less
21C). For taxpayers who opted for itemized deductions Item 20A less 25A/ 20B less 25B/ 20C less 25C.)
27A/B/C
Applicable Income Tax Rate
(i.e. special rate or regular/normal rate)
For Exempt, indicate 0.00%.
24B/C
For Special Rate, indicate special rate under existing
laws. For example: PEZA 5.00%
For Regular/Normal Rate, indicate the income tax rate of
30.00%
28A/B/C
29
Income Tax Due other than MCIT
(Item 26 x Item 27)
Indicate the amount of tax due by multiplying the total
taxable income (Item 26A/26B/26C) by the applicable
tax rate (Item 27A/27B/27C).
Less: Share of Other Agencies
Indicate the portion of the income tax computed under
the special rate due to the other agencies. For example:
2% share of LGU for PEZA enterprise.
6
30
Net
Income tax Due
Government
(Item 28B less Item 29)
31
MCIT
(2% of Gross Income in Item 20C)
Write the amount of MCIT computed at two percent (2%)
based on the Gross Income written/indicated in Item 20C.
32
Income Tax Due (MCIT in Item 31 or Normal
Income Tax in Item 28C, whichever is higher)
Indicate whichever is higher between the MCIT in Item
31 and the normal income tax other than MCIT in Item
28C.
33
Less : Tax Credits/Payments
(attach proof)
This refers to the amount of tax credits/payments during
the year allowed to be deducted from the tax due. Proof is
required to be attached.
33A
Prior Years’ Excess Credits Other than
MCIT
Indicate the excess payments/withholding in prior year/s
which are carried forward in the current year and allowed
to be applied against the income tax due other than
MCIT.
33B
Income Tax Payment under MCIT from
Previous Quarter/s
Write the MCIT payments from the previous taxable
quarter/s of the current year.
33C
Income Tax Payment under Regular/Normal
Rate from Previous Quarter/s
Write the amount of the regular income tax payments
from the previous quarter/s of the current year.
33D
Excess MCIT Applied this Current Taxable
Year
Indicate the amount of the unapplied portion of the MCIT
payments from the previous year/s which can only be
deducted if the normal income tax for the current year is
higher than the computed MCIT for the same year.
33E/F
Creditable Tax Withheld from Previous
Quarter/s
Write the amount of the creditable income tax withheld
by payor/s on the income payments made to the taxpayer
in the previous taxable quarter/s of the current year.
33G/H
Creditable Tax Withheld per BIR Form No.
2307 for the Fourth Quarter
Write the creditable income tax withheld by payor/s on
the income payments made to the taxpayer in the fourth
(4th) quarter of the current year. Attach BIR Form No.
2307 issued by the payor/s.
Foreign Tax Credits, if applicable
Indicate the amount of income tax payments to foreign
government/s on income earned abroad reported in this
Form in Item 16 or Item 19. Attach proof of income tax
payments to foreign government/s.
Tax Paid in Return Previously Filed, if this is
an Amended Return
Indicate the amount of income tax paid in the previous
return filed. Attach the previous return filed and proof of
income tax payment.
Income Tax Payment under Special Rate
from Previous Quarter/s
Write the income tax payments in the previous quarter/s
under the tax regime of Special Rate.
33I/J
33K/L
33M
to
National
7
Indicate the difference between income tax due other than
MCIT (Item 28B) and share of other agencies (Item 29).
This refers to the share of the National Government in the
income tax due under the Special Rate after deducting the
share of other agencies i.e. Local Government Unit.
33N
Special Tax Credits
(from Item 44)
(from Item 103J/K/L)
Write the special tax credit granted to taxpayer by virtue
of a specific special law, international agreement or tax
treaty. For example: 50% of training expenses under RA
7916.
33O/P
Other Credits/Payments, specify ___
Indicate the amount/s of any other payments/tax credits
allowed to be applied against the tax due.
33Q/R
Total Credits/ Payments
(Sum of Items 33E, G, I, K, M, N & O/ 33A, B,
C, D, F, H, J, L & P)
Write the amount of the total of all the payments/credits
claimed. (Sum of Items 33E, G, I, K, M, N & O/ 33A, B,
C, D, F, H, J, L & P)
34A/B
Net Tax Payable/ (Overpayment)
(Item 30 less Item 33Q/ Item 32 less Item 33R)
Indicate the difference between the tax due (Item 30/32)
and the total payments/credits (Item33Q/33R).
35
Aggregate Tax Payable/ (Overpayment)
(Sum of Item 34A & 34B)
Indicate the sum of income tax payable for Special (34A)
and Regular/Normal (34B) Rates.
36
Add: Penalties
Indicate the amounts which are additions to the tax that
serve as civil penalties imposed upon the taxpayer in
cases of violations committed with respect to the filing of
the income tax return and/or payment of the tax due
thereon.
36A
36B
36C
36D
37
Surcharge
Interest
Compromise
Total Penalties
(Sum of Items 36A, 36B & 36C)
There shall be imposed and collected as part of the tax:
1. A surcharge of twenty five percent (25%) for each of
the following violations:
a) Failure to file any return and pay the amount of
tax or installment due on or before the due dates;
b) Unless
otherwise
authorized
by
the
Commissioner, filing a return with a person or
office other than those with whom it is required
to be filed;
c) Failure to pay the full or part of the amount of
tax shown on the return, or the full amount of
tax due for which no return is required to be
filed, on or before the due date;
d) Failure to pay the deficiency tax within the time
prescribed for its payment in the notice of
assessment.
2. A surcharge of fifty percent (50%) of the basic tax or
of the deficiency tax shall be imposed in case of
willful neglect to file the return within the period
prescribed by the Tax Code and/or by rules and
regulations or in case of a false or fraudulent return
is filed.
3. Interest at the rate of twenty percent (20%) per
annum on any unpaid amount of tax, from the date
prescribed for the payment until it is fully paid.
4. Compromise Penalty, pursuant to existing/applicable
revenue issuances.
Total Amount Payable /(Overpayment)
(Sum of Item 35 and 36D)
Write the total amount of tax payable/ (overpayment)
after adding the penalties enumerated in Item 36, if any.
8
If overpayment , mark “X” one circle only
(once the choice is made, the same is
irrevocable)
O To be refunded
O To be issued a Tax Credit
Certificate (TCC)
O To be carried over as tax credit
For next year/quarter
38A/B/C
An excess of the total tax credits/payments over the
actual income tax due computed in the final adjusted
return may be refunded or issued with the Tax or issued
with the Tax Credit Certificate to the taxpayer or credited
against its estimated income tax liabilities for the quarters
of the succeeding taxable years. The taxpayer shall
exercise its option by marking with an “X” the
appropriate circle, which option shall be considered
irrevocable for that taxable period. Thus, once the
taxpayer opted to carry-over and apply the excess income
tax against income tax due for the succeeding taxable
year, no application for cash refund or issuance of a tax
credit certificate shall be allowed. In case the taxpayer
fails to signify its choice, the excess payment shall be
automatically carried-over to the next taxable period.
Part III Tax Relief Availment per Tax Regime
Regular Income Tax Otherwise Due
Indicate the regular income tax otherwise due by first
(30% of the Total of Item 23 & 26)
getting the sum of special allowable itemized deductions
(from item 97J/K/L)
in Item 23 and the net taxable income in Item 26, then
multiply by the normal corporate tax rate of 30.00%.
39A/B/C
Less: Income Tax Due
(from Item 28)
(from Item 98J/K/L)
Copy the computed income tax due in Item 28.
40A/B/C
Tax Relief Availment Before Special Tax
Credit
(Item 38 less Item 39)
(from Item 99J/K/L)
Indicate the difference between regular income tax
otherwise due in Item 38 and income tax due in Item 39.
Breakdown of Item 40 - The sub-total (Item 43) should equal to Item 40
41A/B/C
Tax Relief Availment on Gross/Net Income
(Item 26 x 30% less Item 28)
(from Item 100J/K/L)
Indicate the resulting tax relief availment on gross/net
income by first multiplying the net taxable income in
Item 26 by the normal corporate tax rate of 30.00% and
then, deducting the computed income tax due in Item 28.
42A/B/C
Tax Relief on Special Allowable Itemized
Deductions
(Item 23 x 30%)
(from Item 101J/K/L)
Indicate the resulting tax relief on special allowable
itemized deductions by multiplying the total special
allowable itemized deductions in Item 23 by the normal
corporate tax rate of 30.00%.
43A/B/C
Sub Total on Item 41 & 42 which is equal to
Item 40
(from Item 102J/K/L)
Indicate the sum of Items 41 and 42.
Special Tax Credit
(from Item 103J/K/L)
Copy the amount in Item 33N.
Total Tax Relief Availment
(Sum of Item 43 & 44)
(from Item 104J/K/L)
Indicate the sum of Items 43 and 44.
44B/C
45A/B/C
9
Part IV Details of Payment
Space to indicate the details of the payment and the mode
of payment (whether by cash/bank debit memo, check,
TDM, others) identifying the drawee bank/agency;
number, if any; date; and amount. Only the applicable
spaces must be filled in.
A – Drawee Bank/Agency
B – Number
C – Date (MM/DD/YYYY)
D – Amount
46
Cash/Bank Debit Memo
For cash payment, indicate the amount in column 46D
and write “N/A” (Not Applicable) in columns A, B and C.
For Bank Debit Memo (BDM), indicate the name of the
bank, number, date of BDM and amount in the
appropriate columns (A, B, C and D).
47
Check
Indicate the name of drawee bank, check number, date of
check and amount in the appropriate columns (A, B, C
and D).
48
Tax Debit Memo
Indicate the Tax Debit Memo (TDM) number, date and
amount in the appropriate columns (A, B and C).
49
Others
Ex. Special Allotment Release Order (SARO)
Tax Subsidy Debit Memo (TSDM)
Tax Remittance Advice (TRA)
Specify other modes of payment. Indicate “N/A” or fill in
appropriate columns, if applicable.
Tax Subsidy Availment Certificate (TSAC)
Direct Crediting
Receiving Portion
Stamp of Receiving Office/AAB and Date of
Receipt
(RO’s Signature/Bank Teller’s Initial)
Space provided only for stamping and affixing the
initials of the revenue officer or bank teller, as the case
may be, evidencing the date of receipt of the return from
the taxpayer/authorized representative.
Schedule1 Computation of Net Operating Loss Carry Over
A schedule which is an integral part of the form detailing the computation of Net Operating Loss Carry Over (NOLCO) and
the amount of NOLCO claimed in the taxable year.
50
Gross Income
Copy the amount of gross income in Item 18B/C.
51
Less: Total Deductions exclusive of NOLCO
& Deductions under Special Laws
Copy the amount of regular allowable itemized
deductions in Item 22B/C.
52
Net Operating Loss Carry Over
(to Schedule 1A)
Indicate the difference between Item 50 and 51.
Computation of Available Net Operating
Loss Carry Over (NOLCO)
A schedule which is an integral part of the form detailing
the computation of available NOLCO (applied and
unapplied portion). Only net operating losses incurred by
the qualified taxpayer may be carried over to the next
three (3) immediately succeeding taxable years following
the year of such loss.
Schedule 1A
(attach additional sheet/s, if necessary)
10
53-56
A/B/C/D/ E
Indicate the year incurred (Items 53-56) and the amount
(53A-56A) for net operating loss.
Net Operating Loss
Year Incurred
A - Amount
Indicate the amounts for net operating loss carry over
applied for the previous year (Items 53B-56B), applied
for the current year (Items 53C-56C) and the expired
portion (Items 53D-56D).
Net Operating Loss Carry Over
B - Applied Previous Year
C - Applied Current Year
D - Expired
Indicate the unapplied amount of net operating loss
(Items 53E-56E).
E - Net Operating Loss (Unapplied)
57
Write the sum of available net operating loss carry over
applied to the current year (Sum of Items 53C, 54C, 55C
& 56C).
Schedule 2 Computation of Excess Minimum Corporate Income Tax (MCIT) of Previous Year
A schedule which is an integral part of the form detailing the computation of Excess Minimum Corporate Income Tax
(MCIT) of previous year.
58-61
Total (Sum of Items 53C, 54C, 55C & 56C)
(to Item 24)
Year
Indicate the taxable year covered by the MCIT.
Normal Income Tax as adjusted
Write the amount of normal income tax (as adjusted) for
the appropriate taxable year.
MCIT
Write the amount of MCIT for the appropriate taxable
year.
Excess MCIT over Normal Income
Tax as adjusted
Indicate the amount of excess MCIT which is the
difference between normal income tax (as adjusted) and
MCIT for the appropriate taxable year.
Balance MCIT still allowable as
Tax Credit
Write the amount of the balance MCIT still allowable as
tax credit for the appropriate taxable year.
Expired/Used Portion of Excess MCIT
Write the amount of the expired/used portion of excess
MCIT for the appropriate taxable year.
Excess MCIT Applied this Current
Taxable Year
Indicate the amount of excess MCIT applied this current
taxable year.
Schedule 3 Reconciliation of Net Income Per Books Against Taxable Income(attach additional sheet/s, if necessary)
A schedule which is an integral part of the form showing all the reconciling items in the financial statements added or
subtracted from the net income reported in the financial statements which is to arrive at the taxable income reported
in the income tax return.
A – Special Rate
B – Regular/Normal Rate
62A/B
Net Income/(Loss) per Books
Indicate the net income (loss) per books of accounts for
the current year.
63A/B
64A/B
Add: Non-deductible Expenses/ Taxable
Other Income
Write the total amount of all non-deductible expenses and
taxable other income.
65A/B
Total (Sum of Items 62,63 & 64)
Indicate the total of Item 62 and 63.
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66A/B
67A/B
68A/B
69A/B
70A/B
71A/B
Less: Non-taxable Income and Income
Subjected to Final Tax
Write the total amount of all non-taxable income and
income subjected to final tax.
Special Deductions
Write the amount of special deductions.
Total (Sum of Items 66, 67, 68& 69)
Indicate the total of Items 66, 57, 68 and 69.
Net Taxable Income/(Loss)
(Item 65 less Item 70)
Indicate the difference between Item 65 and 70.
Jurat Clause
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.
72
President/ Vice President/Principal Officer/
Accredited Tax Agent
(Signature over Printed Name)
Title/Position of Signatory
TIN of Signatory
Tax Agent Accreditation No./Atty’s Roll No.
(if applicable)
The return shall be filed by the president, vice-president
or other principal officer, and shall be sworn to by such
officer and by the treasurer or assistant treasurer.
In case the return is filed by an authorized representative,
the TIN of the authorized representative in the
organization or business of the taxpayer must be
indicated. All returns filed by an accredited tax agent on
behalf of a taxpayer shall bear the following information:
A. For CPAs and others (individual practitioners and
members of GPPs):
a.1 TIN; and
a.2 Certificate of Accreditation Number, Date of
Issuance, and Date of Expiry (which is within three
[3] years from date of expiry).
B. For members of the Philippine Bar (individual
practitioners and members of GPPs);
a.1 TIN; and
a.2 Attorney’s Roll Number or Accreditation
Number, if any.
Date of Issuance
Date of Expiry
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Portion requiring the signature of the taxpayer or any
person filing on his/her/its behalf such as his/her/its
authorized representative or accredited tax agent
(ATA) attesting to the truthfulness and correctness of
the information contained in the return.
Treasurer/Assistant Treasurer
(Signature over Printed Name)
Title/Position of Signatory
TIN of Signatory
Community Tax Certificate Number
Space to indicate details of Community Tax Certificate
issued by the Local Government indicating the place and
date of issue, and the amount.
Place of Issue
Date of Issue (MM/DD/YYYY)
Amount
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LIST OF ATTACHMENTS
(1) Certificate of Independent CPA duly accredited by the BIR (The CPA Certificate
is required if the quarterly gross sales, earnings, receipts or output exceed P150,000).
(2) Supplemental Form (Schedule 4) for taxpayers with multiple activities/programs
per tax regime (exempt, special, regular/normal rate).
(3) Duly Accomplished Account Information Form (AIF) and/or Financial
Statements (FS) including the following schedules prescribed under existing revenue
issuances which must form part of the Notes to the Audited FS:
a) Sales/Receipts/Fees
Schedule of Sales/Receipts/Fees
Nature of Sales
Sales from Goods/Properties
Sales from Services
Lease from Properties
Fees from GPPs
Gross Sales/Receipts/Fees
Less : Sales returns and discounts
Sales/Receipts/Fees
Amount
Pxxxx
xxxx
xxx
xxxx
Pxxxx
(xxx)
Pxxxx
b) Cost of Sales/Services
Schedule of Cost of Sales (Trading/Manufacturing)
Nature of Cost of Sales
Beginning Inventory,
Add : Purchases of Goods
Merchandise Available for Sale
Less : Ending Inventory
Cost of Sales
Amount
Pxxxx
xxx
Pxxxx
(xxxx)
Pxxxx
Schedule of Cost of Services:
Nature of Cost of Services
Direct charges on salaries, wages and benefits
Amount
Pxxx
Direct charges on materials, supplies, facilities
Direct charges, on depreciation
Direct charges on rental
Direct charges on outside services
Direct charges – others
Cost of Services
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xxx
xxx
xx
xx
xx
Pxxxx
c) Non-Operating and Taxable Other Income
Schedule of Non-Operating and Other Taxable Income :
Nature of Non-Operating and Taxable Other
Income
xxxx
Total Non-Operating and Other Taxable Income
Amount
Pxxxx
xxx
xxx
xxx
Pxxxx
d) Itemized Deductions (if taxpayer did not avail of OSD)
Schedule of Itemized Deductions:
Nature of Itemized Deductions
Salaries and Allowances
Fringe Benefits
SSS, GSIS, Medicare, HDMF
and Other
Contributions
Commissions
Advertising
Rental
Insurance
Royalties
Repairs and Maintenance
Representation and Entertainment
Transportation and Travel
Fuel and Oil
Communication, light and water
Supplies
Interest
Taxes and licenses
Losses
Bad Debts
Depreciation
Amortization of Intangibles
Depletion
Charitable Contribution
Research and Development
Amortization of Pension Trust Contribution
Miscellaneous Expenses
Total Allowable Deductions
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Amount
Pxxxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
xxx
Pxxxx
e) Taxes and Licenses
Schedule of Taxes and Licenses
Nature of Taxes and Licenses
xxxx
Amount
Pxxxx
xxx
xxx
xxx
Pxxxx
Total Taxes and Licenses
f) Other information prescribed to be disclosed in the Notes to FS.
(4) Statement of Management’s Responsibility (SMR) for Annual Income Tax Return
(5) Certificate of Income Payments Not Subjected to Withholding Tax (BIR Form
No. 2304)
(6) Certificate of Creditable Withholding Tax at Source (BIR Form No. 2307)
(7) Duly approved Tax Debit Memo (TDM) issued by the Bureau to be used for the
payment of the tax due, if applicable. Attach photocopy of the Tax Credit Certificate
against which the TDM is drawn, if applicable.
(8) Proof of prior years’ excess credits, if applicable. Attach prior year’s tax return, if
applicable.
(9) Proof of Foreign Tax Credits, if applicable.
(10) For amended return, proof of tax payment and copy of previously filed return.
Proof of other payments/credits
(11) Certificate of Tax Treaty Relief/Entitlement issued by the concerned Investment
Promotion Agency (IPA).
(12) Summary Alphalist Withholding Agents of Income Payments Subjected to
Withholding Tax (SAWT), if applicable. A summary list required to be submitted by
the taxpayer in cases where tax credit is being claimed on the return. This summary
list contains among others, total amounts of income/gross sales/gross receipts and
claimed tax credits taken from all the Certificates of Creditable Withholding Tax at
Source (BIR Form 2307) issued by the payors/withholding agents of the income. This
summary list must contain all the information required and must be submitted in the
format prescribed by Revenue Regulations No. 2-2006 and Revenue Memorandum
Circular No. 3-2006;
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(13) Proof of other tax payment/credit, if applicable. Attach proof of tax payments in
the first three (3) quarters, if any.
(14) Schedule of returns filed by General Professional Partnership (GPP).
Name of Partner
TIN
Address
Share in the Net
Income of the GPP
Deadline for Submission of Attachments For Non-Electronic Filing and Payment System (EFPS) taxpayers, these must be
submitted at the same time the return is filed. In the case of those EFPS taxpayers,
these attachments must be submitted within fifteen (15) days from the filing of the
return. Schedules 3 (a) to (f) shall be submitted using the e-submission facility of
the Bureau. For those other attachments required to be physically submitted , the
same shall be submitted with the printed copy of the e-filed return together with
the Filing Reference Number in accordance with Revenue Memorandum Order No.
10-06.
Penalty of Incomplete Submission of Attachments Failure to submit any of the attachments applicable to the taxpayer shall be
imposed with a penalty in the amount/s provided for under the existing revenue
issuances for each such failure provided that such failures during the calendar
year shall not exceed P25,000 pursuant to Section 250 of the Code, as amended.
16