Under prevailing regulations (including updates under the CREATE Act), corporate tax rates can vary (e.g., 25% or 20% depending on asset size and net taxable income). =Net_Taxable_Income * Corporate_Tax_Rate
The Annual Income Tax Return must be filed and paid on or before the 15th day of the 4th month following the close of the taxpayer’s taxable year (usually April 15 for calendar-year corporations).
The BIR provides an Excel template for BIR Form 1702 RT Version 2018, which can be downloaded from the BIR website or other authorized sources. Using this template, taxpayers can easily fill out and compute the necessary information for their tax return. bir form 1702 rt version 2018 excel format
The 2018 version requires comprehensive data entry across several key sections: Part I - Background Information
While the official filing must be done through the eBIRForms system , preparing the 1702-RT in Excel offers several advantages: Using this template, taxpayers can easily fill out
The "Version 2018" tag refers to the substantial layout and calculation overhaul mandated by the . Major Updates in the 2018 Revision
remains the latest mandated version for reporting income from the 2025 calendar year. Bureau of Internal Revenue Payment/Remittance Forms - Bureau of Internal Revenue Bureau of Internal Revenue Payment/Remittance Forms - Bureau
BIR Form 1702-RT must be filed by corporations, partnerships, and other non-individual taxpayers whose entire net income is subject only to the regular income tax rate, typically 25% RCIT under the CREATE Act.
Explicit operational expenses (salaries, rent, utilities, depreciation, taxes, etc.).
5. Step-by-Step Workflow: From Excel to Official BIR Submission
: Detailed line items for gross income, total deductions, and taxable income. : Includes supporting data such as Schedule 1 (Sales/Revenues), Schedule 4 (MCIT computation), and Schedule 5 (Reconciliation of Net Income). Bureau of Internal Revenue Filing and Submission Requirements 1702-RT - BIR