Summary
RMC No. 134-2019, issued December 5, 2019, announces the revised BIR Form No. 1702-EX (Annual Income Tax Return for exempt corporations, partnerships and other non-individual taxpayers), January 2018 [ENCS] Version 2.
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Key points
- What the revised form covers. It includes both the Optional Standard Deduction and the itemized deductions that General Professional Partnerships may claim.
- Where it is available. The manual return is on the BIR website (www.bir.gov.ph) under the Income Tax Return section and in the Offline eBIRForms Package v7.5. It is not yet available in the Electronic Filing and Payment System (eFPS).
- eFPS filers. eFPS filers use the Offline eBIRForms Package v7.5 until the return’s availability in eFPS is announced.
- BIR Form No. 1702-RT. BIR Form No. 1702-RT, January 2018 (ENCS), for taxpayers subject only to the regular income tax rate, is also in the Offline eBIRForms Package v7.5.
Who is affected
- Exempt corporations, partnerships and other non-individual taxpayers
- General Professional Partnerships
- eFPS filers
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.