What is this form?
BIR Form 1702-EX is an Annual Income Tax Return for Corporations, Partnership, and Other Non-Individual Taxpayer EXEMPT.
Who should file this form?
This return shall be filed by a Corporation, Partnership, and Other Non-Individual Taxpayer EXEMPT under the tax code, as amended [Sec. 30 and those exempted in Sec. 27(C)], and other Special Laws WITH NO OTHER TAXABLE INCOME such as but not limited to foundations, cooperatives, charitable institutions, non-stock and non-profit educational institutions, General Professional Partnership (GPP), etc.
When to file?
This form shall be filed on or before the 15th day of the 4th month following the close of the taxpayer’s taxable year.
How to file?
To file a BIR Form 1702-EX in Fast File, follow the steps below:
STEP 1: From your portal, click on the Start Return button.
STEP 2: Select Income Tax Return and hit Next.
STEP 3: Choose 1702EX, then click the Next button.
STEP 4: Select the date of the transaction covered in this report. Select the year from the drop-down menu, then click Next.
STEP 5: In the Filing Period section, select the correct ATC (item 5).
STEP 6: Enter the rest of the Background information properly based on your BIR Certificate of Registration (COR / Form 2303).
Certain parts of the form are already pre-populated based on the information that you have provided during the organization setup.
STEP 7: Provide all the necessary details for the Computation of Tax.
Important things to remember:
To produce a Summary Alphalist of Withholding Tax (SAWT) attachment for this report, click the SAWT link next to Item 45 and add the source data.
Once the sources are entered in SAWT, the Item 45 input field will be disabled for manual entry. If you decide to do a manual entry instead, simply click the reset button found in the SAWT modal.
Please keep in mind that filing an attachment with your BIR Form 1701-EX will incur an additional fee on top of the service fee per generation of forms.
STEP 8: Once the SAWT link (beside item 45) is clicked, a modal will appear where the attachments (if applicable) can be entered.
Here are the modal functionalities that are worth checking:
A. Import Errors - this button lets you export the errors in your CSV file, allowing you to format the data in your CSV correctly before re-importing it back to Fast File
B. Import Status - status of your import and errors in your import file will appear here
C. Add Line - this button allows users to manually add the required information such as:
Registered Name (If non-individual)
Last Name (if an individual)
D. Import SAWT Data - click this button to start importing your SAWT file
E. Remove Selected - this button will allow you to select and delete a whole line of
data from your Schedule.
F. Total Tax Amount - Displays the total tax amount based on the numbers you entered in the modal.
G. Reset Table- this allows you to remove all the data inside the modal and start afresh.
STEP 9: Provide necessary details for Part VI – Schedules 1, 2, and 3 (if applicable).
Schedule 1 – Ordinary Allowable Itemized Deductions
Schedule 2 – Special Allowable Itemized Deductions
Schedule 3 – Reconciliation of Net Income per Books against Taxable Income
STEP 10: The last section will show the summary of your Total Amount Payable / Overpayment which is auto-calculated based on the numbers you entered in the previous sections of the form.
Once you're done filling up the tax form, click the Filing Options button located on the upper-right part of the page to allow the platform to determine if there are fields that have been overlooked.
Below is a sample pop-up message that will appear if a certain field hasn't been filled out properly.
STEP 11: Once all the data is validated and correct, click the Filing Options button again then check your billing charges. To proceed to the payment stage, simply click the File Now button.
Please take note that your tax forms will be sent electronically to the BIR until 9 pm. Any forms that will be sent beyond that filing deadline will be transmitted within the next business day.
BIR Form 1702-EX is straight-out simple to fill out and complete. Get started on your tax-compliance journey today and start filing at https://juan.tax/fast-file 🤗