Republic of the Philippines

For BIR BCS/ Department of Finance

Use Only: Item: Bureau of Internal Revenue
BIR Form No.

1702Q Quarterly Income Tax Return

For Corporations, Partnerships and Other Non-Individual Taxpayers
January 2018 (ENCS)
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. 1702Q 01/18ENCS P1

1 For Calendar Fiscal 3 Quarter 4 Amended Return? 5 Alphanumeric Tax Code (ATC)
IC 055 Minimum Corporate Income Tax (MCIT)
2 Year Ended (MM/20YY) 1st 2nd 3rd Yes No
/20
Part I – Background Information
6 Taxpayer Identification Number (TIN) - - - 0 0 0 0 0 7 RDO Code
8 Registered Name (Enter only 1 letter per box using CAPITAL LETTERS)

9 Registered Address (Indicate complete address. If the registered address is different from the current address, go to the RDO to update registered address by using BIR Form No. 1905)

9A ZIP Code
10 Contact Number (Landline/Cellphone No.) 11 Email Address

Optional Standard Deduction (OSD) – 40% of Gross Income

12 Method of Deductions Itemized Deductions [Section 34 (A-J), NIRC] [Section 34(L) NIRC, as amended]
Are you availing of tax relief under If yes,
13 Special Law/International Tax Treaty? Yes No 13A
specify
Part II – Total Tax Payable (DO NOT enter Centavos; 49 Centavos or Less drop down; 50 or more round up)
14 Income Tax Due – Regular/Normal Rate (From Part IV - Schedule 2, Item 13)
Unexpired Excess of Prior Year’s MCIT over Regular/Normal Income Tax Rate
15 Less: (deductible only if the quarterly’s tax due is the regular/normal rate)

16 Balance/Income Tax Still Due – Regular/Normal Rate (Item 14 Less item 15)
17 Add: Income Tax Due – Special Rate (From Part IV - Schedule 1, Item 13)
18 Aggregate Income Tax Due (Sum of Items 16 and 17)
19 Less: Total Tax Credits/Payments (From Part IV - Schedule 4, Item 7)
20 Net Tax Payable / (Overpayment) (Item 18 Less Item 19)
Add: Penalties 21 Surcharge
22 Interest
23 Compromise
24 Total Penalties (Sum of Items 21 to 23)
25 TOTAL AMOUNT PAYABLE / (Overpayment) (Sum of Items 20 and 24)
We declare under the penalties of perjury that this return, and all its attachments, have been made in good faith, verified by us, and to the best of our knowledge and belief, are true and
correct, pursuant to the provisions of the National Internal Revenue Code, as amended, and the regulations issued under authority thereof. (If signed by an Authorized Representative, indicate TIN and
attach authorization letter)

26 Number of
Attachments

Signature over Printed Name of President/Principal Officer/ Authorized Representative Signature over Printed Name of Treasurer/ Assistant Treasurer
Title of Signatory TIN Title of Signatory TIN
Part III – Details of Payment
Particulars Drawee Bank/Agency Number Date (MM/DD/YYYY) Amount
27 Cash/Bank Debit Memo
28 Check
29 Tax Debit Memo
30 Others (specify below)

Machine Validation/Revenue Official Receipt Details [if not filed with an Authorized Agent Bank (AAB)] Stamp of Receiving Office/AAB and Date of
Receipt (RO’s Signature/Bank Teller’s Initial)
 BIR Form No.

1702Q Quarterly Income Tax Return

January 2018 (ENCS) For Corporations, Partnerships and Other Non-Individual Taxpayers
Page 2 1702Q 01/18ENCS P2
Taxpayer Identification Number (TIN) Registered Name
0 0 0 0 0
Part IV – Schedules (DO NOT enter Centavos; 49 Centavos or Less drop down; 50 or more round up)
Schedule 1 – Declaration this Quarter A. EXEMPT B. SPECIAL
1 Sales/Receipts/Revenues/Fees
2 Less: Cost of Sales/Services
3 Gross Income from Operation (Item 1 Less Item 2)
4 Add: Non-Operating and Other Taxable Income
5 Total Gross Income (Sum of Items 3 and 4)
6 Less: Deductions
7 Taxable Income this Quarter (Item 5 less Item 6)
8 Add: Taxable Income Previous Quarter/s
9 Total Taxable Income to Date (Sum of Items 7 & 8)
10 Applicable Income Tax Rate [except minimum corporate income tax (MCIT) rate] 0 % ●
%
11 Income Tax Due Other than MCIT (Item 9 x Item 10) 0 0 0
12 Less: Share of Other Agencies, if remitted directly
13 Net Income Tax Due to National Government (Item 11 Less Item 12) (To Part II Item 17)
Schedule 2 – Declaration this Quarter – REGULAR/NORMAL RATE
1 Sales/Receipts/Revenues/Fees
2 Less: Cost of Sales/Services
3 Gross Income from Operation (Item 1 Less Item 2)
4 Add: Non-Operating and Other Taxable Income
5 Total Gross Income (Sum of Items 3 and 4)
6 Less: Deductions
7 Taxable Income this Quarter (Item 5 less Item 6)
8 Add: Taxable Income Previous Quarter/s
9 Total Taxable Income to Date (Sum of Items 7 and 8)
10 Applicable Income Tax Rate (except MCIT rate) %
11 Income Tax Due Other than MCIT (Item 9 multiply by Item 10)
12 Minimum Corporate Income Tax (MCIT) (From Schedule 3 Item 6)
(Normal Income Tax in Item 11 or MCIT in Item 12 whichever is higher)
13 Income Tax Due (To Part II Item 14)

Schedule 3 – Computation of Minimum Corporate Income (MCIT) Tax for the Quarter/s
1 Gross Income Regular/Normal Rate - 1st Quarter
2 Gross Income Regular/Normal Rate - 2nd Quarter
3 Gross Income Regular/Normal Rate - 3rd Quarter
4 Total Gross Income (Sum of Items 1 to 3)
5 MCIT Rate 2 %
6 Minimum Corporate Income Tax (To Schedule 2 Item 12)
Schedule 4 – Tax Credits/Payments (attach additional sheet/s, if necessary)
1 Prior Year’s Excess Credits
2 Tax payment/s for the previous quarter/s of the same taxable year other than MCIT
3 MCIT payment/s for the previous quarter/s of the same taxable year
4 Creditable Tax Withheld for the previous quarter/s
5 Creditable Tax Withheld per BIR Form No. 2307 for this quarter
6 Tax paid in return previously filed if this is an amended return
Other Tax Credits/Payments (specify below)
a
b
7 Total Tax Credits/Payments (Sum of Items 1 to 6b) (To Part II Item 19)
 BIR Form No.

1702Q Quarterly Income Tax Return

January 2018 (ENCS) For Corporations, Partnerships and Other Non-Individual Taxpayers
Page 3 1702Q 01/18ENCS P3
Tax
ATC Description Tax Base ATC Description Tax Rate Tax Base
Rate
DOMESTIC CORPORATION
IC 010 1. a. In General 30% Taxable Income from All Sources 7. Exempt Corporation
IC 011 a. On Exempt Activities 0%
IC 055 b. Minimum Corporate Income Tax 2% Gross Income
IC 030 2. Proprietary Educational Institutions 10% Taxable Income from All Sources IC 010 b. On Taxable Activities *same rate Taxable Income from All Sources
as in 1a
a. Proprietary Educational Institutions whose 30% Taxable Income from All Sources IC 021 8. General Professional Partnership exempt
gross income from unrelated trade, business 9. Corporation covered by Special Law*
or other activity exceeds fifty percent (50%) of IC 200 a. PEZA Free Port Zones 0% / 5% Gross Income
the total gross income from all sources. IC 210 b. Microfinance Non-government 2% Gross Receipts
Organizations (NGOs)
IC 055 b. Minimum Corporate Income Tax 2% Gross Income RESIDENT FOREIGN CORPORATION
IC 070 1. a. In General 30% Taxable Income from within the
Philippines
IC 031 3. Non-Stock, Non-Profit Hospitals 10% Taxable Income from All Sources IC 055 b. Minimum Corporate Income Tax 2% Gross Income
IC 080 2. International Carriers 2.5% Gross Philippine Billing
a. Non-Stock, Non-Profit Hospitals whose gross 30% Taxable Income from All Sources
IC 101 3. Regional Operating Headquarters* 10% Taxable Income
income from unrelated trade, business 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 Units (0BU’s)
a. Foreign Currency Transaction not 10% Gross Taxable Income on Foreign
IC 055 b. Minimum Corporate Income Tax 2% Gross Income subjected to Final Tax Currency Transaction not
IC 040 4. a. GOCC, Agencies & Instrumentalities 30% Taxable Income from All Sources subjected to Final Tax
b. Other Than Foreign Currency 30% Taxable Income Other Than
IC 055 b. Minimum Corporate Income Tax 2% Gross Income Transaction Foreign Currency Transaction
IC 041 5. a. National Gov’t & LGU’s 30% Taxable Income from Proprietary
Activities IC 191 6. Foreign Currency Deposit Units
(FCDU’s)
IC 055 b. Minimum Corporate Income Tax 2% Gross Income a. Foreign Currency Transaction not 10% Gross Taxable Income on Foreign
IC 020 6. a. Taxable Partnership 30% Taxable Income from All Sources subjected to Final Tax Currency Transaction not
subjected to Final Tax
IC 055 b. Minimum Corporate Income Tax 2% Gross Income b. Other Than Foreign Currency 30% Taxable Income Other Than
Transaction Foreign Currency Transaction
*PLEASE REFER TO REVENUE DISTRICT OFFICES

Guidelines and Instructions for BIR Form No. 1702Q (January 2018 ENCS)
Quarterly Income Tax Return
For Corporations, Partnerships and Other Non-Individual Taxpayers
Who Shall File Minimum Corporate Income Tax (MCIT)
Every corporation, partnership no matter how created or organized, joint stock companies, joint accounts, A minimum corporate income tax (MCIT) of two percent (2%) of the gross income is imposed upon
associations (except foreign corporation not engaged in trade or business in the Philippines and joint venture or any domestic corporation and resident foreign corporation beginning the fourth (4 th) taxable year (whether
consortium formed for the purpose of undertaking construction projects or engaging in petroleum, coal, calendar or fiscal year, depending on the accounting period employed) immediately following the taxable
geothermal and other energy operations), government-owned or controlled corporations, agencies and year in which such corporation commenced its business operation. The MCIT shall be imposed whenever
instrumentalities shall render a true and accurate income tax return in accordance with the provisions of the Tax the corporation has zero or negative taxable income or whenever the amount of minimum corporate income
Code. The return shall be filed in triplicate copies by the president, vice-president or other principal officer and tax is greater than the normal income tax due from such corporation. Any excess of the MCIT over the
shall be sworn to by such officer and by the Treasurer or Assistant Treasurer. normal income tax shall be carried forward and credited against the normal income tax for the three (3)
Every general professional partnership shall file a return of its income setting forth the items of gross immediate succeeding taxable years.
income and of deductions and the names, TINs, addresses and shares of each of the partners. The computation and the payment of MCIT shall apply each time a corporate income tax return is filed,
whether quarterly or annual basis.
When and Where to File
The corporate quarterly income tax return shall be filed with or without payment within sixty (60) days Penalties
following the close of each of the first three (3) quarters of the taxable year whether calendar or fiscal year. There shall be imposed and collected as part of the tax:
The return shall be filed with any Authorized Agent Bank (AAB) located within the territorial jurisdiction of 1. A surcharge of twenty-five percent (25%) for the following violations:
the Revenue District Office where the taxpayer is required to register/which has jurisdiction over the location of a. Failure to file any return and pay the amount of tax or installment due on or before the due date; or
the principal office of the “CORPORATION” filing the return. b. Filing a return with a person or office other than those with whom it is required to be filed, unless
In places where there are no AABs, the return shall be filed directly with the Revenue Collection Officer otherwise authorized by the Commissioner; or
or duly Authorized City or Municipal Treasurer within the Revenue District Office where the taxpayer is required c. Failure to pay the full or part of the amount of tax shown on the return, or the full amount of tax due
to register/which has jurisdiction over the location of the principal office of the “CORPORATION” filing the return. for which no return is required to be filed on or before the due date; or
d. Failure to pay the deficiency tax within the time prescribed for its payment in the notice of
When and Where to Pay assessment.
Upon filing of this return, the total amount payable shall be paid to the Authorized Agent Bank (AAB) where 2. A surcharge of fifty percent (50%) of the tax or of the deficiency tax, in case any payment has been
the return is filed. In places where there are no AABs, payments shall be made directly to the Revenue Collection made before the discovery of the falsity or fraud, for each of the following violations:
Officer (RCO) of the RDO having jurisdiction over the location of the principal office of the “CORPORATION”, a. Willful neglect to file the return within the period prescribed by the Code or by rules and regulations;
who shall issue an Electronic Revenue Official Receipt (eROR) therefor. or
Where the return is filed with an AAB, taxpayer must accomplish and submit BIR-prescribed deposit slip, b. A false or fraudulent return is willfully made.
which the bank teller shall machine validate as evidence that payment was received by the AAB. The AAB 3. Interest at the rate of double the legal interest rate for loans or forbearance of any money in the absence
receiving the tax return shall stamp mark the word “Received” on the return and also machine validate the return of an express stipulation as set by the Bangko Sentral ng Pilipinas from the date prescribed for
as proof of filing the return and payment of the tax by the taxpayer, respectively. The machine validation shall payment/remittance until the amount is fully paid/remitted: Provided, That, in no case shall the deficiency
reflect the date of payment, amount paid and transactions code, the name of the bank, branch code, teller’s code and the delinquency interest prescribed under Section 249 Subsections (B) and (C) of the National
and teller’s initial. Bank debit memo number and date should be indicated in the return for taxpayers paying Internal Revenue Code, as amended, be imposed simultaneously.
under the bank debit system. 4. Compromise penalty as provided under applicable rules and regulations.
Payment may also be made thru the epayment channels of AABs thru either their online facility,
credit/debit/prepaid cards, and mobile payments. Attachments Required
1. Certificate of Income Payments not Subject to Withholding Tax (BIR Form No. 2304), if
For EFPS Taxpayer applicable;
The deadline for electronically filing and paying the taxes due thereon shall be in accordance with the 2. Certificate of Creditable Tax Withheld at Source (BIR Form No. 2307), if applicable;
provisions of existing applicable revenue issuances. 3. Duly approved Tax Debit Memo, if applicable;
4. Certificate of Tax Treaty relief, if any;
Normal Rate of Income Tax ---------------------- 30% 5. Summary Alphalist of Withholding Agents of Income Payments Subjected to Withholding Tax at Source
(SAWT), if applicable; and
Deductions 6. Proof of other payment/s, if applicable.
A corporation shall choose either the itemized or optional standard (described below) deduction. It shall
indicate the choice by marking with “X” the appropriate box, otherwise, the corporation shall be considered as The quarterly income tax return does not have to be accompanied with Account Information Form and/or
having availed of the itemized deduction. The choice made in the return is irrevocable for the taxable year for Financial Statements.
which the return is made. Note: All background information must be properly filled out.
Optional Standard Deduction (OSD) – A maximum of 40% of the gross income shall be allowed as  The last 5 digits of the 14-digit TIN refers to the branch code
deduction in lieu of the itemized deduction. However, a corporation who availed and claimed this deduction is  All returns filed by an accredited tax agent on behalf of a taxpayer shall bear the following
still required to submit its financial statements when it files its annual tax return and to keep such records information:
pertaining to its gross income. A. For Individual (CPAs, members of GPPs, and others)
Itemized Deduction – There shall be allowed as deduction from gross income all the ordinary and a.1 Taxpayer Identification Number (TIN); and
necessary trade and business expenses paid or incurred during the taxable year in carrying on or which are a.2 BIR Accreditation Number, Date of Issue, and Date of Expiry.
directly attributable to the development, management, operation and/or conduct of the trade and business. B. For members of the Philippine Bar (Lawyers)
Itemized deduction includes also interest, taxes, losses, bad debts, depreciation, depletion, charitable and other b.1 Taxpayer Identification Number (TIN);
contributions, research and development and pension trust. b.2 Attorney’s Roll Number;
b.3 Mandatory Continuing Legal Education (MCLE) Compliance Number; and
b.4 BIR Accreditation Number, Date of Issue, and Date of Expiry