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Tips: A Detailed Guidebook on Finalizing Bir Form 1702 Online

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The Stepwise Tutorial to Bir Form 1702

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Comprehend How to Fulfill the Bir Form 1702

good day everyone here he comes with.another episode of dust training today.I'm going to discuss to you bf4 number.17 Auto MX and this is the annual income.tax return for corporation partnership.and other than individual with mix.income subject to multiple income tax.rules or with income subject owes.special preferential rate payer from.1702 is an income tax return for spacial.corporations why special corporations.because they are not paying income tax.at the rate of 30 percent but another.rate is provided by law but since 7th.and auto MX is a mixed income tax rate.then the corporations and also have.activities something to 30% but they.also have other income not subject to.the 30 percent rate but on another rate.that's why this is called mix income tax.return you will start with the line.number 1 for calendar year or fiscal.year when we say calendar year the.beginning of the Tassimo year is January.and ending in December but when we say.fiscal year the beginning of the taxable.year which is 12-month period begins.with on other month.other than January and ends also not in.December but other month counting the.12-month period line number 2 we have.year ended month and then the year so if.you are in in calendar year your month.ending if this is for the year 2019 then.December 2019 if you are using the.calendar year for example September then.your year ending would be September 2019.[Music].line number three we have amended return.yes or no if this is amended retired.because you have already filed an.original return you just file again for.because you have some correction with.your income tax return then you checked.amended but if this is an original.return then no line number four we have.short period you return yes or no if.this income tax return that you are.filing is for the 12-month period then.you check no but if the spiria is less.than twelve month then short period.return you check yes line number five we.have alphanumeric tax code or.ATC this alphanumeric code is provided.to us by the VAR because this designates.the the code for its kind or category of.the corporation depending on their line.of economic activities so we have here I.see zero five five for the minimum.corporate income tax or the MCIT so this.is the final tax that the corporation is.paying another another I will give you.some other alphanumeric tax code.considering that this is a mixed income.corporate income tax return and there.are so many corporations who has who are.going to use this kind of return so the.alphanumeric tax code for domestic.corporation in general I see 0 1 0 the.tax rate is 30% based on possible income.from all sources then then we also have.4 proprietary educational institution I.say 0 3 0 the.tristant president based on taxable.income from all sources also proprietary.educational institution whose gross.income from unrelated trade business or.other activity exceeds 50% of the total.gross income from all sources the rate.is 30 percent ansible income from all.sources so even if you are a proprietary.educational institution but if for.example your tuition fee the the the.main source of your income as.educational institution your tuition fee.the other income eggs in the tuition fee.then you are no longer subject to the.preferential rate 10% but already owned.a 30 percent for non-stop nonprofit.corporation profit hospitals IC 0 3 1.the tax rate is 10 percent based on.possible income from all sources but.even if you are a non star nonprofit.hospital if the gross income from.unrelated trade business or other.activity exists 50% of the total gross.income from all sources then you are.taxable under 30 percent possible income.from all sources GOCC agencies and.instrumentalities this government owned.and controlled corporations doing.business or proprietary functions the.alphanumeric passcode is IC 0 4 is 0 tax.rate is 30 percent possible income from.all sources for national government and.LG use the local government units ice is.0 for 1 30 % taxable income from.proprietary activities so even if.government agencies if they are doing.business and earning income.they are going to pay the income tax and.they are going to file the income tax.return using this 1702 MX IC 0 20.possible partnership 30% possible income.from all sources y 30% for taxable.partnership because partnership are.passed as corporations or they're.considered as corporation that's why we.are subject to 30 percent tax rate on.income tax or corporate income tax and.then we also have Isis or 1/1 for exempt.corporation on exempt activities so 0%.why because they are in same Isis or 1 0.on taxable activities take note that 0 1.0 is the alphanumeric tax code for.domestic corporation so if an an in same.corporation is doing some possible.activities then they are also touchable.on income from all sources and how much.is the rate 30 percent on the normal.income tax and also the minimum.corporate income tax of 2 percent.what is this minimum corporate income.tax the minimum corporate income tax is.the 2% tax imposed on the gross profit.of the corporation and what is our law.on minimum corporate income tax on the.corporations which ever is higher.between the normal income tax and the.minimum corporate income tax is the tax.- that is going to be paid during the.filing of the income tax so it's every.tire between the normal income tax and.minimum corporate income tax.izes Erica one general professional.partnership exam why because general.professional partnership is not possible.as a part partnership itself the income.is distributed to the partner and the.partners another one liable to pay the.income tax the partnership itself is.exam but the general professional.partnership has to file an income tax.return using this form so I see zero to.one you know professional partnership.exam and then the corporation covered by.special low I see 200 pairs of Freeport.zones zero percent or five percent gross.income so this is a registered.enterprises they have a preferential.rate of five percent in Euro both assess.and if they have some activities subject.or zero percent then zero also also.their taxable and gross income.microfinance non-government organization.I see two one zero and then resident.foreign corporation because resident.foreign corporations are taxed like the.domestic corporation the alphanumeric.passcode in general for is in foreign.corporation is I see zero seven zero the.tasks rate is 30%.based on possible income from within the.Philippines what do you mean by within.the Philippines only income within the.Philippines because this foreign.corporation has some income in other.country they are not taxable in the.Philippines only the income of the.foreign corporation the Philippines is.taxable here in the Philippines isin.zero five five also a minimum corporate.income tax no percent based on gross.income also for resident foreign.corporation isin 0x0 international.carrier the tax rate is two point five.percent based.on gross Philippine bidding this is the.guitar that is going to be paid by the.international carriers.I see ones are one regional operating.headquarters 10% on possible income and.then we also have I see one nine zero.for offshore banking units on its.foreign car is a transaction not.subjected to final tax is ten percent.based on gross taxable income on foreign.currency transaction not subjected to.final tasks and other than foreign.currency transaction is subject to 30.percent tax rate on possible income.other than foreign currency transactions.for foreign currency deposit units or.fcd you the alphanumeric passcode is IC.one nine one for foreign currency.transaction not subjected the final tax.the tax rate is 10 percent based on.gross taxable income and foreign.currency transaction not subjected to.final task and other than foreign.currency transaction the tax rate is 30%.based on taxable income other than.foreign currency transaction so that.those are the alphanumeric pass code.that you are going to choose and fill up.in your income tax return 702 MX if you.file the return for information purposes.okay so we are now on the part 1.background information so line number 6.we have taxpayer identification number.or the theme so this is only the first.nine digits why because there is already.a default for the branch code which is.the ending why why default on the branch.code because the filing of the income.tax return regardless of how many.branches are there.corporation have only one consolidated.income tax return should be filed at the.main office.so our do code can you get the RTO code.this is the audio code of the main.office and you can arrive.from your certificate of registration.line number it is the registered name.and their only one letter per bus using.capital letter okay so one letter per.box cap using capital letter huh and.what is the instruction and they're all.required information in capital letters.using black ink mark applicable buses.with an X no copies must be filed with.the be heir and one held by the taxpayer.so that is our requirement so in the.registered name one letter per box using.capital letter a line number nine we.have registered address indicate.complete address if registered address.is different from current address go to.our do to update the registered address.by using the air form number 1905 as I.reiterated to you I discussed already in.under 7th in Auto RT going to the BA R.to change your address is not enough if.you are a corporation why because there.is a regulatory agency for corporation.and the behavior will not entertain you.if you have not changed your address in.the Securities and Exchange Commission.so what are you going to do if you are a.corporation you have to go first the.Securities and Exchange Commission and.then file an amended return secretary.certificate and board resolution file it.in the Securities and Exchange.Commission for a change of address once.you have the amended Articles of.Incorporation with the new address then.that's the time that you go to the DAR.to change your address so how are you.going to change your address.fill up form one 9:05 1905 to update.your information you you put there the.old address and then the new address.have been received by your new RDO so.that the new RDO will receive you as.transferee corporation but you hope to.also go to the previous are they over.you are registered and then have a.clearance there before your registration.will be transferred through the computer.or through the internet if you are going.or doing out of time because it's.deadline of the filing of the income.task and you cannot change your address.with the ACC then if you're gonna change.your address use your old address do not.use your new address without first.updating it in the new audio and with.the SEC still you sure your old address.because it is the ones registered in the.system of the beam yard line of 810 date.of incorporation or organisation always.put here your original date of.incorporation not the amended when you.amend your articles of incorporation and.then you have there a new day that is.not the date of incorporation that is.only the date of the amendment so the.date of incorporation is the original.when your register in the Securities and.Exchange Commission it is the birthday.of the corporation why because the.corporation came into life only by.operation of law so when it is.registered and the Securities and.Exchange Commission register it already.in the Securities and Exchange.Commission then that is the birthday of.the corporation gives birth it gives.life to the corporation is already.existing so contact number please put.the quantum number of the corporation.not the quantum number of the accountant.not the quantum number of your.consultant or any other person it's.always the ontem number of the core.zip code we have the standard zip code.so follow that email address when using.email address do not also use the other.email addresses use the email address of.the corporation.lie number 13 we have method of the - on.can be itemized deduction or the.optional standard - on okay for itemized.deductions you have to list down all the.kind of expenses that you incurred and.then the amount and then claim it.deducted against your income sales or.whatever for the optional standard.deduction the corporation is given forty.percent based on gross income okay so.that is your standard deduction forty.percent of gross income.unlike individual for the percent of.gross sales for corporation it is 40.percent of gross income so when we say.gross income it is sales less cost of.sales was gross income you have to.deduct first the cost of sales or the.cost of services.part two we have total tax payable line.number 14 we have dot attached to or.over payment when you feel line number.14 that means you already have computed.your tota task you do not fill this up.without first asserting the total tax to.the source of your total task you win.you fill this up is your financial.statement which is the income house.statement or a statement of income.because these are the mandatory.attachment in your fine income tax.return your financial statements so this.line number 14 the total cash you will.be coming from your financial statements.so what is the total cash you're the.total overpayment put it here and then.line number 15 less total tax credit or.payments what are these total tax.credits are famous this are dub passes.that you have previously paid and you.are entitled to claim them as a.deduction against your total tax payable.net that's payable or overpayment okay.so you have to deduct that was attached.to you and then the tax credit you have.now the pass payable or if your past.pain you see your task you then you have.overpayment add penalties if you have.not paid your income tax on time then it.will incur penalties and haha.how many penalties are the layer 3 we.have chores charts interest and.compromise further so charts how much is.the torso charts so charts can be 25% if.justified is the reason for not paying.on time but if the reason is willful it.is intentional the part of the task pay.or not to pay that that's on time then.you will incur 50 percent surcharge.line number 18 we have been the rest.this is 12% interest per annum and then.for the TAS is full fully paid.this is previously 20 percent before.that train you know so the trainer took.effect in 2018 so 2018 the pass rate is.already 12 percent say with the legal.interest rate and then line number 19 we.have compromise compromise is determined.by the BA are based on the basic tax due.order and paid taxes there is a.graduated scheduler or scheduler.penalties for for the compromise line.number 20 we have total penalties and.then the total amount payable or.overpayment okay in instances wherein.there is an overpayment meaning your.posture is lower than that - you already.paid so you have over payment you have.options so what are the options the.first option is to be refunded if you.want that your overpayment would be.refunded by the BR meaning you apply for.the US payment or refund of your task.which has been overpaid then you check.box number one to be refunded box number.two is or option number two is to be.issued at a screen certificate so if you.want that your overpayment would be used.by you in paying your other tons of the.obligation in the form of tax credit.certificate then you take the second.bounce tax credit certificate the third.option is to be carried over Sanskrit.for next year or quarter but if you want.that your overpayment will be used by.you in paying your your task obligation.income tax obligation for the following.year then you check pass number three.for the signatory there are requirements.on the signatories on for the income tax.return of this corporate income tax.return there are two signatories.required the first is the president or.the principal officer or the authorized.representative you have to put there the.title of the signatory and the task.identification number the second.signatory is the treasurer or assistant.treasurer so you have there also the.title of the signatory and the task.identification number and remember that.this corporate income tax return is.signed under the penalty of perjury and.what it says here 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.provision of the National Internal.Revenue Code as amended and the.regulations should under Authority.they're off.so if signed by the authorized.representative indicate past.identification number and attached.authorization letter since this is a.corporation authorities Yeun letters in.the form of board resolution and.secretary certificate parties detail of.payment particulars the trophy before.agency the receipt number the date and.the amount and there is the there is.also the check number or the tax.David memo if you are using the tax.debit memo okay so others specified so.that is page one now let's go to paints.- for the print store the second page we.start also with the taxpayer.identification number okay so the artist.payer identification number the only the.first nine digits because the.transcoder or the nd is zero zero.hey so we have also the registered name.print in bold or capital letters okay.for the part for this in the second page.we have the schedules okay what is the.instruction we have the instructions a.only one activity or project under exam.and or special tax regimes so fill out.the applicable column below if you only.have one activity no under exempt or and.or under special so feel out the.applicable columns below letter B if you.have two or more activities or projects.under the same and/or special tax.regimes a completes part five mandatory.attachment a very activity and reflect.consolidated amounts from part five on.the Horus panting columns the part 5 is.end up in page three so schedule one.basis of the tasks relief ok particular.investment promotion agency for IP.implementing government entity so you.have to put there the exam the spatial.and the spatial tasks relief if any and.then put all sorted in number to the.legal basis the legal basis why because.this agencies give they have a legal.basis in order that they can give.exemptions through the corporation the.lie number three we have registered.activity or program or and then you are.going to put the registration number.number for you in have special tasks.write the amount so if it is five.percent three percent.because those company enjoying special.tax holiday have 3 percent 25 percent.depending on the grant of the.implementing agency so effect the.effectivity date of the tas relief or.exemption from expiration date of tax.relief or exemption - why because this.exemption or the preferential tax rate.granted by the implementing agencies has.a limit sometimes it's three years it's.five years that's why when the time.expires for the exemptions then they.cease to be an exam cooperations.scheduled or computation of income.taxpayer regime okay so description.sales receipts revenues fees total exam.total speacial total regular and then.the total all columns okay number toward.less sales returns allowances and.discounts number 3 net sales receipts.revenues or fees and their number for.less cost of sales and services remember.that in line number 4 for the cost of.sales and services this are regulated.because there are kind of expenses that.are mandatorily included and there are.also excluded from the holes of from the.cost of sales of services in order to.determine the gross income line number.number 5 is gross income from operation.and the number 6 add other taxable.income not subjected to final toss hey.number 7 throat attachable income sum of.items 5 & 6.less deductions allowed other existing.law okay so number eight we have.ordinary allowable itemized deductions.and the number nine we have special.allowable itemized deductions no these.are granted by the law and implemented.by the implementing agencies and then we.have the number ten the non-core the net.operating loss carryover and what are.our rule or null Co the non-core the net.operating loss carryover can be claimed.within three years okay so we have total.itemized deductions or in case the.scible under section 27a or twenty-eight.a optional standard deduction if you.choose the optional standard deduction.then we have now done net possible.income or loss and then number 14 the.Inc the applicable income tax rate okay.so take note that there are multiple.income tax rates so you have to choose.and fill up what is applicable there are.there are references on this do not just.assume this this are implemented by.implementing agencies and be sure that.you apply the correct are straight so.you have now the income tosh.dough add.other than MCIT.so the income Tashia for the regular is.30% for the preferential may vary from.10% 5% or any other person number 16.less share of other government agency.Limited directly number 7 the net income.tax due to the national government and.number eight and we have here da MCIT.and what is this MCIT.you have to go back on the previous.computation which is two percent of.gross income.which is in item number seven so number.nineteen total income touched you or.over payments you have to indicate there.if there is an overpayment.okay so tax credits or payment attached.proof okay so this is very important.because you are going to attach the.proof of the tax credit or the payments.or those passes that have previously.been paid number twenty prior years.exist credits other than MCIT if there.are exist credits or total overpayment.on the previous years now twenty one.income tax payments under MCIT from.previous quarter's number twenty two.income tax payment under regular rate.from previous quarter's number twenty.three exists MCIT applied this current.possible year a number twenty-four.creditable tasks with help from previous.quarter's twenty five credit about us.where they out there be a phone number.23:07 for the fourth quarter why is it.what is the rationale you of the law why.is it that number twenty four number 25.for the payment for the previous three.quarter's you have to disclose and then.you have to segregate the fourth quarter.deferred payment what is the reason.because the first partners the the the.credit or the passes has already been.applied because you file your income tax.return de quarterly but for the fourth.quarter this is the first time that you.file because there is no fourth quarter.income tax or it is consolidated on the.fourth on the annual income tax return.so you need not file the fourth quarter.income tax return that's why you have.are going through security gate because.this payment for the fourth quarter has.not been applied this is the first time.that it be.applied that's why this agree that in.order to have a ready proof preference.on the amount foreign tax credit if.applicable okay.why if applicable especially the.resident foreign corporations if you.have transactions abroad but it pertains.to the income here in the Philippines.then you can apply for the foreign tax.credits or if you are a foreign.corporation and you have transactions.abroad on the other country and there.has been advanced payment of income tax.or withholding thus on that foreign.current country then you can claim that.also as a tax credit here in the.Philippines number twenty seven tasks.pane in return previously filed if.amended return and what is our our rule.on amended return if you filed an.original return and then you are going.to correct and file again that is called.amended return so what are you going to.do you are going to sell rocks the.previously filed return attach it to.your amended return and then we have the.income tax payment under special rate.prop from previous quarter and we also.have the special tax credits photo and.then we have the no time for paints.number three we have still we have to.fill up the taxpayer identification.number and also the registered name and.then we have the schedule for the tax.relief availment okay so the description.regular income tax otherwise - number.2011 special allowable itemized.deductions in there any number three.subtotal pass relief number four less.income times your number five tax relief.availment before special tax credit.number six add special tax credit if any.a number seventh or.the leaf availment okay so total exam.total spatial total regular and total.all columns take note that this total.tax relief availment.is regulated by the implementing.agencies so they do not just claim it.without confirming it with the.implementing agencies schedule five.ordinary allowable deductions we have.the ordinary allowable deductions if.you're up to use the itemized deductions.in computing your income tax return as.against the optional standard deduction.of forty percent on gross income so if.you are using ordinary ordinary.allowable itemized deductions then you.have to itemize the expenses that you.incur okay so number one we have here.the amortization and what are these.amortization states are the expenses.that you have been cut but you do not.have to right away claim all those.expenses you have to defer some of the.expenses you are going to claim only.what is the amount for this year you.want to claim all why because their.expense the expenses that you incur will.benefit more than one taxable year so.what rare first or pertains to the.benefits of the taxable year then that's.the only amount that you can find that.other you have to defer on another.tumble year number two we have but this.and what are the requirements for this.bad debts you have to show that an.exhaustive effort has been exerted by.you in order tomorrow like the amount.before you can claim but it's my dad's.are the amount that you are going to.deduct from your income in order to.arrive at the tangible income you have.to remove it your taxable income why.because this budgets.cannot be collected any more why because.your.client your customer who have an ounce.payable we the company has no longer the.capacity to pay for that day so this.budgets are uncollectible and collected.accounts number three up charitable and.other contributions charitable and other.contributions are also regulated by law.and what are the limit on the charitable.and other contributions for charitable.and other contributions if the donor or.the contributor is the corporation the.limit is five percent of net income.before the death thing Rita ball and.other contributions so definitely if you.have no income then you cannot claim.charitable and other contributions for.those contributions given to the.accredited institution as regulated by.Revenue regulations thirteen does 98.there are donations that are deductible.in full.especially those given to the government.and their priority projects a certified.bayonetta and also those donations.contributions given to the accredited.known institutions then they are.deductible in full but what are the.requirements provided that those done.some nonprofit corporations are.accredited own institutions you use the.donations given to them for BR purposes.it should be seventy thirty seventy.percent should go to the project thirty.percent will go to the administrative.expenses but for accredited social.welfare organizations the the the.Department of Social Welfare has a lead.different requirements it is twenty five.seventy five so 75 percent should go to.the project twenty five percent will go.to the administrative expenses.and then we have number four depletion.this is the Allah ones for the depletion.of the mineral resources that is given.by loads of the business owners number.five this are the depreciation are the.allowance given by law to for the.taxpayer to recover the investment in.machineries and equipments why because.they are given incentive because they.are using these equipments for business.so depreciation.there are schedule or attachment that.required especially the lapsing schedule.for the depreciations of machineries and.equipments number six we have.entertainment amusement and Recreation.is a subject also told limitations.you're going to claim all this.recreation entertainment and amusement.expenses even if they are substantiated.even if they are legal but they are all.subject to limit and how much is the.limit if your activity is sale of goods.one half of one percent of the sale of.goods if sale of services one percent of.sale of services that is the only limit.that is the only recreation.entertainment and amusement that you can.clean number 700 our friends benefits.there are so many kind of friends.benefits given by the company to its.managerial and supervisory employees but.if friends benefits are given the rank.and file as included as a part of their.compensation but for supervisory and.managerial the fringe benefits is.subject to final task and that final.task still be paid by the company or the.corporation number nine losses this.losses has also some requirements and.what are this provided that the losses.you reported to the where within 45 days.that this referred to the examiner and.things.we'll make a report on how much are the.value of the losses that you incurred so.you are going to report that within 45.days for the doses number 10 pension.trust this pension trusts are the.contributions by both employer and the.employee for the benefits of the.employees.okay so pension trust in order to.include pension trust it is only the.portion of the contribution of the.employer for the pension trust not the.total contribution to the pension trust.because it includes the contribution of.the employee rental this rental is the.payment for the use of the facilities.this is subject to 5% expanded.withholding tasks that is going to be.paid by the lessee so what the less you.will do pay 95% of the rent to the.lessor to the owner of the facilities.and then give a certificate of.withholding amounting to 5% of their.rental by issuing their form 23 or 7 the.certificate of expanded withholding.tasks for the lessor because the lessor.will use it as a deduction to his income.tax return when he file his income tax.return so we have number 12 research and.development research and development is.very crucial very important because this.will help in the business in improving.the business of the corporation so.research and development very important.but it should be properly classified why.because if the research and development.will benefit not only the 1-year period.but it will benefit more than one year.then you have to amortize if it will.benefit five years then you have to.divide the.and development cost for five years so.whatever amount that pertains only to.the current care which is under drew for.fighting on the income tax then it is.only the proportionate share that should.be claimed as risk as an expense for.research and development salaries and.wages and allowances this is subject to.withholding tax on compensation and this.is the salaries and wages regulated by.the doli or the department of labor and.employment and the salaries and wages.determines the employer-employee.relationship that is very crucial in the.granting of benefits to the employees so.salaries and wages and allowances the.there should be a payroll and there.should be an alpha least reported to the.PR with reports annual reports submitted.to the behavior number 14 are the SS Jas.is fell heard its name if an other.contribution remember only the employer.share should be clean the employees here.know the system licenses the son.licenses only the basic tasks should be.claimed penalties are not included so.penalties should be charged against.written earnings but for purposes of.determining the income tosh.dough.penalty should be excluded and cannot be.claimed as an expense transportation and.travel for transportation and travel.they should be ordinary and necessary.and should be in relation to the.business other deductions started.withholding tax and other expenses okay.so janitorial and miss interior services.considered services subjected to persons.with all these tasks professional fees.also subject to withholding tasks.security services subject also to toe.with holding tasks but only based on the.gross income of the agency excluding the.salaries of the guard okay so other.deductions like repairs and maintenance.yeah like utility show of the included.yeah but remember if your other expenses.are something with the holding then you.are required also to make withholding.remittance of their withholding on that.expenses so total ordinary allowable.itemized deductions okay.schedule six special allowable itemized.deductions is our deductions under the.special law so what are you going to do.describe what are that kind of deduction.or items and then what is the legal.basis for how much is the pertains the.total exam transaction or the total.special total total regular and total.all columns so total special allowable.itemized deductions.schedule number seven computation of net.operating loss carry over or Norco for.regular rates so you have there the.gross income and then you have to.disclose also the in page 40 of the.disclose also the available net.operating loss carry over or the nolcorp.or the regular rate so what are the net.operating loss here in card and the.amount why it's very necessary because I.have told you that this null coordinate.operating loss carryover can be claimed.only for a period of three years after.that it will expire and you're no longer.playing that as.expense so you have your in card the.amount Norco applied previous years.Norco expired Norco applied garden here.and the net operating loss and applied.meaning this is the balance that you.wanna still use for future deductions.schedule a computation of net operating.loss carryover for special rate so gross.income less ordinary allowable itemized.deductions or net operating loss so.computation of available net operating.loss carry over for spacial rate okay so.you have your in karma.Norco applied previous year no conspired.Norco applied current year and then the.net operating loss and applying okay.schedule nine is the computation of.minimum corporate income casts.also the the minimum corporate income.tax is considered as advance payment of.tasks which you can use also for the.next three years especially if the MCIT.exceed the normal income toss.so computation of minimum corporate.income tax year the normal income taxes.adjusted the MCIT and the exist MCIT.over normal income tasks.okay so exist inside applied used in.previous year expired portion of X's.MCIT.YX by portion meaning it is already over.three years exist inside they apply this.current equals balance of visas MCIT.meaning this is the available MCIT that.can still be used and applied in the.future so total X is M CIT scheduled 10.reconciliation of net income per boost.against our sample income why because.you have to reconcile because there are.some income that will affect the.accounting income but for tax purposes.it will not affect because that is that.that income is not something to tax okay.so how are we going to reconcile number.one net income or loss per books and non.deductible expenses or taxable other.income because it is not deductible then.you have to add and then total less than.taxable income and income subjected the.final specified bill below and then the.special deductions if any and then you.have now your total income.that is our 17 Auto index for the.corporate income tax return mix there.are companies or corporations that.enjoys different task incentives and.they are using this 1702.MX hope I have enlighten you about the.seventh and Auto MX.

How to generate an electronic signature for the Bir Form 1702 online

An all comprising solution for signing Bir Form 1702 is something any business can benefit from. CocoSign has found a way to develop a easy to use, cheap, and invulnerable online program that you can use.

As long as you have your device and an efficient internet connection, you will have no problem signing documents on the Internet. These are the simple guides you need to follow to sign the Bir Form 1702 :

  1. Locate the document you need to sign on your device and click 'Upload'.
  2. Pick 'My signature'.
  3. There are three ways to put your signature: you can draw it, type it, or upload it. Pick out the one that you find most right.
  4. Once you have putted the signature, click 'Ok'.
  5. Finish by ticking 'Done'.

Then you just need to eSign PDF and have it ready to be sent. The next step is up to you. You can save the form.CocoSign makes all the aspects of signing an electronic document easy and useful.

You get additional features like 'Add fields,' 'Merge documents,' 'Invite to sign,' and a few others, all meant to make it user-friendly and comprehensive.

The best thing about CocoSign is that it functions on all the appliances you put to use, so you can fall back on it and can sign electronic documents in spite of the device you are putting to use.

How to create an electronic signature for the Bir Form 1702 in Chrome

Chrome is probably the most favored browser at this time, and it's no wonder. It has all the features, integrations and extensions you can implore. It's extremely useful to have all the tools you use available, due to the browser extensions.

Thus, CocoSign has cooperate with Chrome, so you can just go to the Web Store to get the extension. Then, you can sign your form directly in the browser. These are a few simple guides to lead you through the signing process:

  1. Locate the link to the document that needs to be signed, and pick 'Open in CocoSign'.
  2. Use your registered account to log in.
  3. Locate the link to the document that needs to be signed, and pick 'Open in CocoSign'.
  4. Press 'My signature' and put your customized signature.
  5. Find the right position on the page, include the signature, and pick 'Done'.

After finishing all the instructions, you can either fax the document or share it to as many recipients as you need.

You will locate that CocoSign has made efforts to make your Chrome signing experience as delightful and user-friendly as possible, by adding a wide range of handy features, like merging PDF files, adding multiple signers, and so on.

How to create an electronic signature for the Bir Form 1702 in Gmail?

Email is the main solution to forward documents at this time, and going paperless has a lot of good, speed being the main one. You can sign a document and have your partner receive it in an instant.

Your email recipient is one click away. This simple process can be applied to any contracts that needs a signature: contracts, tax forms, and all kinds of agreements or declarations.

The great thing about CocoSign is that it helps you add your esignature the Bir Form 1702 in your Gmail, without having any other appliances involved. You can do that using the CocoSign Chrome extension. There are only five simple guides you need to follow to sign your form right in your Gmail account:

  1. Find the CocoSign extension in the Chrome Web Store, and include it to your browser.
  2. Log into your Gmail account.
  3. Press the Inbox and find the email containing the agreement you need to sign.
  4. On the sidebar, you will find the button 'Sign'; click it and put your unique e-signature.
  5. Once you pick 'Done,' the signature will be completed, and the signed document will be automatically saved in a draft email generated by the CocoSign program.

User-friendly was the primary concern behind the efforts made by CocoSign to develop a low-cost and high-efficient program that can allow you to forfeit physical document signing.

Once you try the program, you will in an instant become one of the a large number number of satisfied clients who are enjoying the good of e-signing their documents right from their Gmail account.

How to create an e-signature for the Bir Form 1702 straight from your smartphone?

Smartphones and tablets are so evolved at this time, that you can put to use them for anything what you can do on your laptop and PC. That's why more and more people are completing your job duty from these mobile devices, saving even more time.

It's also a huge benefit remote working. As long as your internet connection is stable, you can conduct your business wherever.

When you need to sign a Bir Form 1702 , and you're outside of the office, the CocoSign web application is the answer. Signing and sending a legally binding document will take seconds. Here is what you need to do to sign a document on your mobile:

  1. Use your browser to go to CocoSign and log in. If you don't already have an account, you need to register.
  2. Locate the document that needs to be signed on the device and choose it.
  3. Open the document and go to the page to draw your initial.
  4. Pick on 'My Signature'.
  5. Customize your customized signature, then include it on the page.
  6. Once you have done, check the document once again, pick 'Done'.

All these guides won't take long time, and once the document is signed, you decide the next step. You can either download it to the device or share it in an email or using a link.

A significant good thing of CocoSign is that it's appropriate with any mobile device, regardless of the operating system. It's the ideal selection, and it simplifies workflow, it's secure.

How to create an e-signature for the Bir Form 1702 on iOS?

Creating an electronic signature on a iPod Touch is not at all complicated. You can sign the Bir Form 1702 on your iPhone or iPad, using a PDF file. You will locate the application CocoSign has created especially for iOS users. Just go to try CocoSign.

These are the points you need to sign the form right from your iPhone or iPad:

  1. Insert the CocoSign app on your iOS device.
  2. Work with your email to put an account, or sign in with Google or Facebook.
  3. Locate the PDF that needs to be signed on the device with iOS system or pull it from the cloud.
  4. Locate the part where you want to include the signature; pick 'Insert initials' and 'Insert signature'.
  5. Type your initials or signature, place them correctly, and save changes to the document.

After signing, the document is ready for the next step. You can download it to your iPhone and share it. As long as you have a great internet connection, you can sign and send documents in an instant.

How to create an electronic signature for the Bir Form 1702 on Android?

iOS has many of users, there's no doubt of that, but most mobile phone users have an Android operating system. To meet the needs, CocoSign has developed the program, especially for Android users.

You can gather the app on Play Market, install it, and you could start signing documents. These are the guides to sign a form on your Android device:

  1. If you already have a CocoSign account, sign in. If you don't have one yet, you can sign in using Google or Facebook.
  2. Pick on '+' to choose the document you want to sign, from cloud storage or using your camera.
  3. Locate the part where the signature must be placed and then use the popup window to type your signature.
  4. Include it on the page, confirm, and save the changes.
  5. The final step is to fax the signed document.

To send the signed form, just attach it to an email, and it will reach your receiver in an instant. CocoSign is the best way to sign lots of files every day, all at a cheap cost. It's time to forget all about signing document face-to-face and keep it all electronic.

Bir Form 1702 FAQs

Comply with the below common misunderstandings about Bir Form 1702 . Talk to directly if you still have other queries.

Need help? Contact support

How can I fill out Google's intern host matching form to optimize my chances of receiving a match?

I was selected for a summer internship 2016. I tried to be very open while filling the preference form: I choose many products as my favorite products and I said I'm open about the team I want to join. I even was very open in the location and start date to get host matching interviews (I negotiated the start date in the interview until both me and my host were happy.) You could ask your recruiter to review your form (there are very cool and could help you a lot since they have a bigger experience). Do a search on the potential team. Before the interviews, try to find smart question that you are Continue Reading

Do military members have to pay any fee for leave or fiancee forms?

First off there are no fees for leaves or requests for leave in any branch of the United States military. Second there is no such thing as a fiancée form in the U.S. military. There is however a form for applying for a fiancée visa (K-1 Visa)that is available from the Immigration and Customs Service (Fiancé(e) Visas ) which would be processed by the U.S. State Department at a U.S. Consulate or Embassy overseas. However these fiancée visas are for foreigners wishing to enter the United States for the purpose of marriage and are valid for 90 days. They have nothing to do with the military and are Continue Reading

How do I fill out the form of DU CIC? I couldn't find the link to fill out the form.

Just register on the admission portal and during registration you will get an option for the entrance based course. Just register there. There is no separate form for DU CIC.

How do you know if you need to fill out a 1099 form?

It can also be that he used the wrong form and will still be deducting taxes as he should be. Using the wrong form and doing the right thing isnt exactly a federal offense

How can I make it easier for users to fill out a form on mobile apps?

Make it fast. Ask them as few questions as possible (don't collect unnecessary information) and pre-populate as many fields as possible. Don't ask offputting questions where the respondent might have to enter sensitive personal information. If some users see you collecting sensitive information, they might not be ready to share that with you yet based on what you are offering, and they will think twice about completing the form.

How can I get ITR?

File a Nil return . Show your Salary Income along with Other Incomes what ever you have e.g. Agriculture Income Interest from Bank Accounts Any Capital Gains

How much is tax exemption for 2019?

Personal and dependency exemptions in the United States were repealed by the Tax Cuts and Jobs Act, beginning in 2018. Under current law, they are scheduled to return in 2026.

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