How to Download BIR Form 1702-RT for 2018 in Excel Format
If you are a corporation, partnership, or other non-individual taxpayer subject only to regular income tax rate in the Philippines, you need to file BIR Form 1702-RT every year. This form is used to report your annual income tax return and pay the corresponding tax due. In this article, we will show you how to download BIR Form 1702-RT for 2018 in Excel format, how to fill it out and submit it, and what are the benefits of using this format.
What is BIR Form 1702-RT and who should file it?
Definition and purpose of BIR Form 1702-RT
BIR Form 1702-RT is an annual income tax return for corporation, partnership, and other non-individual taxpayer subject only to regular income tax rate. It is used to declare the income, deductions, tax credits, and tax liability of the taxpayer for the taxable year. It also serves as a proof of compliance with the tax laws and regulations of the Philippines.
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Qualifications and requirements for filing BIR Form 1702-RT
To file BIR Form 1702-RT, you must meet the following qualifications:
You are a domestic or resident foreign corporation, partnership, joint venture, general professional partnership, or other non-individual entity registered with the Securities and Exchange Commission (SEC) or Cooperative Development Authority (CDA).
You are subject only to regular income tax rate of 30% on your taxable income.
You have no other taxable income subject to special or preferential tax rates or exempt from income tax.
To file BIR Form 1702-RT, you must also prepare the following requirements:
A valid Taxpayer Identification Number (TIN) and registered name.
A certified copy of your audited financial statements (AFS) or financial statements (FS) stamped "received" by SEC or CDA.
A summary list of sales/receipts and purchases/expenses (SLSP) if your gross quarterly sales/receipts or purchases/expenses exceed P10 million.
A summary alphalist of withholding agents/payors (SAWT) if you have income payments subject to withholding taxes.
A summary alphalist of withholding tax on compensation (SAWTC) if you have employees whose compensation is subject to withholding taxes.
A certificate of creditable tax withheld at source (BIR Form 2307) if you have income payments subject to expanded withholding taxes.
A certificate of final tax withheld at source (BIR Form 2306) if you have income payments subject to final withholding taxes.
A certificate of income tax withheld on compensation (BIR Form 2316) if you have employees whose compensation is subject to withholding taxes.
Other supporting documents as may be required by the BIR.
How to download BIR Form 1702-RT for 2018 in Excel format?
Step 1: Visit the official website of the Bureau of Internal Revenue (BIR)
To download BIR Form 1702-RT for 2018 in Excel format, you need to go to the official website of the BIR at . This is the main portal for all tax-related information and services in the Philippines. You can access it using any web browser on your computer or mobile device.
Step 2: Navigate to the BIR Forms section and select Income Tax Return
Once you are on the BIR website, you need to navigate to the BIR Forms section by clicking on the "BIR Forms" tab on the top menu bar. This will take you to a page where you can find various types of tax forms for different purposes and taxpayers. You need to select "Income Tax Return" from the list of categories on the left sidebar. This will filter the forms according to income tax return types.
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Step 3: Find and click on the link for BIR Form 1702-RT
After selecting "Income Tax Return", you need to scroll down and look for the link for BIR Form 1702-RT under the subcategory "Annual Income Tax Return for Corporation, Partnership and Other Non-Individual Taxpayer Subject Only to REGULAR Income Tax Rate". You can also use the search box on the upper right corner of the page and type "1702-RT" to find it faster. Once you find it, click on the link to open a new page with more details about the form.
Step 4: Choose the Excel format option and save the file to your computer
On the page for BIR Form 1702-RT, you will see two options for downloading the form: PDF format and Excel format. You need to choose the Excel format option by clicking on the "Excel" button under the "Download" section. This will prompt you to save the file to your computer. You can choose any location and name for the file, but make sure you remember where you saved it and what you named it. The file name should end with ".xls" which indicates that it is an Excel file.
How to fill out and submit BIR Form 1702-RT for 2018 in Excel format?
Step 1: Open the downloaded Excel file and enable macros if prompted
To fill out BIR Form 1702-RT for 2018 in Excel format, you need to open the downloaded Excel file using Microsoft Excel or any compatible software. You may be prompted to enable macros when you open the file. Macros are small programs that run within Excel to perform certain functions and calculations. You need to enable macros to use all the features of the form. To do this, click on the "Enable Content" button on the security warning bar that appears at the top of the Excel window.
Step 2: Fill out the required information on the first page of the form
The first page of the form contains the basic information of the taxpayer, such as the TIN, registered name, address, contact details, industry classification, method of accounting, and tax rate. You need to fill out these fields with the correct and complete information. You can use the drop-down menus, check boxes, and radio buttons to select the appropriate options. You can also use the "Help" button on the upper right corner of the page to access the user manual and other instructions.
Step 3: Fill out the schedules and attachments as applicable
The next pages of the form contain the schedules and attachments that provide more details about the income, deductions, tax credits, and tax liability of the taxpayer. You need to fill out these pages as applicable to your situation. You can use the "Next" and "Back" buttons on the lower right corner of each page to navigate through the form. You can also use the "Go To" button on the upper left corner of each page to jump to a specific schedule or attachment. You can use the "Compute" button on each page to calculate the totals and subtotals automatically.
Step 4: Validate the form and generate the electronic signature
After filling out all the required information on the form, you need to validate the form and generate the electronic signature. To do this, you need to click on the "Validate" button on the last page of the form. This will check if there are any errors or inconsistencies in your entries. If there are any errors, you will see a pop-up message that tells you what needs to be corrected. You need to fix these errors before proceeding. If there are no errors, you will see a confirmation message that tells you that your form is valid. You need to click on "OK" to proceed.
Next, you need to generate the electronic signature that will authenticate your form. To do this, you need to click on the "Generate" button on the last page of the form. This will prompt you to enter your TIN and password that you have registered with the BIR's Electronic Filing and Payment System (eFPS) or Electronic BIR Forms (eBIRForms) system. You need to enter these credentials correctly and click on "OK". This will generate a unique code that will serve as your electronic signature. You need to copy this code and paste it on the designated field on the last page of the form.
Step 5: Submit the form online or offline depending on your preference
Finally, you need to submit your form online or offline depending on your preference. To submit your form online, you need to click on the "Submit" button on the last page of the form. This will send your form to the BIR's online system and give you a confirmation message that tells you that your submission is successful. You will also receive an email notification with a copy of your form and a confirmation number. You need to keep this email for your reference and proof of filing. To submit your form offline, you need to click on the "Print" button on the last page of the form. This will print your form on paper and give you a confirmation message that tells you that your printing is successful. You need to sign the printed form and attach the required documents. You need to submit the printed form and the documents to the nearest BIR Revenue District Office (RDO) or Authorized Agent Bank (AAB) within your jurisdiction. You need to get a stamped copy of your form and a receipt for your payment of tax due, if any, for your reference and proof of filing. Benefits of using Excel format for BIR Form 1702-RT
Ease of use and convenience
One of the benefits of using Excel format for BIR Form 1702-RT is that it is easy to use and convenient. You can download the form from the BIR website anytime and anywhere. You can fill out the form on your computer or mobile device without needing an internet connection. You can save the form on your device or cloud storage for future use. You can also edit, update, or delete any information on the form as needed.
Accuracy and efficiency
Another benefit of using Excel format for BIR Form 1702-RT is that it is accurate and efficient. You can use the built-in formulas and functions of Excel to compute the amounts and totals automatically. You can also use the validation and generation features of the form to check for errors and inconsistencies and generate the electronic signature. You can also use the submission feature of the form to send your form to the BIR online system in just one click.
Security and compliance
A third benefit of using Excel format for BIR Form 1702-RT is that it is secure and compliant. You can protect your form with a password and encryption to prevent unauthorized access or modification. You can also use the electronic signature feature of the form to authenticate your form and ensure its integrity. You can also use the confirmation email and number from the BIR online system to verify your submission and payment status.
Conclusion
In conclusion, BIR Form 1702-RT is an annual income tax return for corporation, partnership, and other non-individual taxpayer subject only to regular income tax rate in the Philippines. It is used to declare the income, deductions, tax credits, and tax liability of the taxpayer for the taxable year. It can be downloaded in Excel format from the BIR website, filled out and submitted online or offline, depending on the preference of the taxpayer. Using Excel format for BIR Form 1702-RT has many benefits, such as ease of use, convenience, accuracy, efficiency, security, and compliance.
FAQs
Q: When is the deadline for filing BIR Form 1702-RT?
A: The deadline for filing BIR Form 1702-RT is on or before April 15 of each year following the close of the taxable year. However, if the deadline falls on a weekend or a holiday, the deadline is moved to the next working day.
Q: How much is the penalty for late filing or non-filing of BIR Form 1702-RT?
A: The penalty for late filing or non-filing of BIR Form 1702-RT is 25% of the tax due, plus 20% interest per annum, plus compromise penalty depending on the amount of tax due. The penalty may be higher if there is fraud or willful neglect involved.
Q: Can I amend my BIR Form 1702-RT after filing it?
A: Yes, you can amend your BIR Form 1702-RT after filing it, as long as it is not yet subject to audit or investigation by the BIR. You need to file an amended return and pay the additional tax due, if any, within three years from the date of filing the original return. You also need to indicate the reason for the amendment and attach the supporting documents.
Q: Can I file BIR Form 1702-RT in PDF format instead of Excel format?
A: Yes, you can file BIR Form 1702-RT in PDF format instead of Excel format, if you prefer. You can download the PDF format from the same page where you downloaded the Excel format. You need to print the PDF file and fill it out manually. You also need to attach a diskette or CD containing the data entered in the return. You need to submit the printed form and the diskette or CD to the nearest BIR RDO or AAB within your jurisdiction.
Q: Where can I get more information or assistance about BIR Form 1702-RT?
A: You can get more information or assistance about BIR Form 1702-RT from the following sources:
The user manual and instructions that are included in the Excel file.
The BIR website at .
The BIR hotline at (02) 981-8888 or (02) 981-7000.
The BIR email at .
The BIR RDO or AAB where you are registered or where you will file your return.
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