By organizing your accounting ledger data into an Excel sheet that mirrors the exact layout of the 2018 version of Form 1702-RT, you can easily copy and paste or transcribe data into the official eBIRForms software without getting lost in the various schedules. Key Schedules and Sheets in the 1702-RT Excel Template
Detailed breakdowns of revenue, expenses, and tax calculations. How to Prepare and File BIR Form 1702-RT
An Excel version of the 2018 form mirrors the multi-page physical structure mandated by the BIR. Understanding the data layout prevents entry errors. 1. Background Information (Part I)
Do you use or the Optional Standard Deduction (OSD) ? bir form 1702 rt version 2018 excel format
When preparing the form in Excel, ensure you have the following sections:
Input your company's financial data, including gross income, allowable deductions, and tax due.
Meeting the filing deadline is a critical part of tax compliance. By organizing your accounting ledger data into an
Tax laws evolve, and so do filing systems. The current version of the eBIRForms Package (v7.9.5) includes the most up-to-date version of the 1702-RT form, designated as . This updated version likely incorporates transitory rate adjustments to align with the changes introduced by the CREATE Law.
: Excel allows financial teams to map out multiple draft iterations without accidentally submitting raw, unverified data online.
This part identifies your entity in the BIR system: Understanding the data layout prevents entry errors
The Bureau of Internal Revenue (BIR) Form 1702-RT (January 2018 version) is the Annual Income Tax Return for Corporation, Partnership, and Other Non-Individual Taxpayers Subject Only to the Regular Income Tax Rate. For many accountants, tax preparers, and business owners in the Philippines, finding an of this form is crucial for efficiency, calculation automation, and accuracy.
A resident foreign corporation engaged in trade or business within the Philippines.
Generally 25% or 20% for qualified small businesses under the CREATE Act.
| Line | Field Name | Description / Instructions | | :--- | :--- | :--- | | 1 | For Calendar/Fiscal | Indicate if taxable year is calendar or fiscal. | | 2 | Year Ended (MM/20YY) | Enter the year the taxable year ended. | | 3 | Amended Return? | Mark "Yes" if this return amends a previously filed return. | | 4 | Short Period Return? | Mark "Yes" if the return covers a period shorter than 12 months. | | 5 | Alphanumeric Tax Code (ATC) | Enter the ATC (e.g., IC 055 for Minimum Corporate Income Tax/MCIT) | | 6 | Taxpayer Identification Number (TIN) | Enter your 9-digit TIN (required field). | | 7 | RDO Code | Enter the 3-digit code of your Revenue District Office. | | 8 | Registered Name | Enter your business name (1 letter per box using CAPITAL LETTERS). | | 9A | Registered Address | Indicate complete registered address. | | 9B | ZIP Code | Enter the ZIP code. | | 10 | Date of Incorporation/Organization | Format: MM/DD/YYYY. | | 11 | Contact Number | Provide current contact number. | | 12 | Email Address | Provide valid email address for BIR correspondence. | | 13 | Method of Deductions | Choose one: Itemized Deductions OR Optional Standard Deduction (OSD) of 40%. |
It includes comprehensive schedules for computing net income, deductible expenses, NOLCO (Net Operating Loss Carry Over), and MCIT (Minimum Corporate Income Tax). Why Use an Excel Format for BIR Form 1702-RT?