Income Tax Guide

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GUIDE FOR INTERACTIVE FORMS

BIR FORM NO. 1702:
ANNUAL INCOME TAX RETURN FOR
CORPORATION, PARTNERSHIP AND OTHER
NON-INDIVIDUAL TAXPAYER

|Script | |Open the form. | |For Form 1702: Annual Income Tax Return for Corporation, Partnership and Other Non-Individual Taxpayer, I will use XYZ | |Corporation, a manufacturing company as my sample taxpayer. | |To start using the form, you just place the cursor of your mouse inside the box to begin typing. | |Take note that the mandatory items are outlined in red. Remember, if you do not fill out the mandatory items, your form will| |be considered incomplete and may be subject to audit. | |Try saving this without filling up the red boxes. You will receive this reminder message: Reminder: You have not yet filled | |out all the red boxes. If these boxes are not all filled out and this form is submitted, it will be considered incomplete | |and/or you may be subject to audit. | |[pic] | |Go to Item 1 and choose either Calendar Year or Fiscal Year. I will choose Fiscal Year for XYZ and enter 10/2011 | |To move to the next box, press the Tab key. To move back to a previous box, press shift plus the Tab key. | |Go to Item 3: Amended Return? Click on the NO button. | |Go to Item 4: Short Period Return? Click on the NO button. | |In case you do not have a mouse, you can use the left and right arrow keys to move from one button to the next. | |Go to Item 5: Alphanumeric Tax Code. You may choose your code from a drop-down box. For XYZ choose IC 010 Domestic | |Corporation General. | |Fill out Item 6: (TIN: 000-123-456-0000) and Item 7 (RDO Code: 121). | |Type in the date of incorporation of your company in MM/DD/YYYY format in Item 8: 03/18/2005. | |Go to Item 9: Enter name of the company: XYZ CORPORATION | |Go to Item 10 and enter your complete registered address: 15, Science Avenue, Laguna Technopark, San Jose, Sta. Rosa, | |Laguna, 4026. | |Go to Item 11 and enter your contact number: 888-8888. | |Enter your email address in Item 12: tessie.santos@xyzcorp.com | |Go to Item 13 and enter your line of business. For XYZ Corporation, I will put manufacturing. | |Go to Item 14 and choose your method of deduction. You may choose between itemized deduction or optional standard | |deduction. For XYZ, I will choose Itemized Deduction. | |Go to Item 15 and check if you are availing of Tax Relief under Special or International Tax Treaty. I will click on the YES| |button for XYZ. Since we checked YES, we need to answer the succeeding items. | |For...
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