Income Tax Requirements of Newly

Registered OPC
Annual Income Tax For Corporations And Partnerships

BIR Form 1702 - Annual Income Tax Return (For Corporations and Partnerships)

Documentary Requirements

1. Certificate of Income Payments Not Subjected to Withholding Tax (BIR Form 2304), if
applicable

2. Certificate of Creditable Tax Withheld at Source (BIR Form 2307), if applicable

3. Duly approved Tax Debit Memo, if applicable

4. Proof of Foreign Tax Credits, if applicable

5. Income tax return previously filed and proof of payment, if amended return is filed for the
same taxable year

6. Account Information Form (AIF) or the Certificate of the independent CPA with Audited
Financial Statements, if the gross annual sales, earnings, receipts or output exceed
P3,000,000.

7. Proof of prior year’s excess tax credits, if applicable

Procedures

1. For eFPS Filer

a. Fill-up applicable fields in the BIR Form No. 1702

b. Pay electronically by clicking the “Proceed to Payment” button and fill-up the
required fields in the “eFPS Payment Form” then click “Submit” button.

c. Receive payment confirmation from eFPS-AABs for successful e-filing and e-

payment.

2. For Non-eFPS Filer

a. Fill-up fields in the BIR Form No. 1702 in the downloaded Electronic Bureau of
Internal Revenue Form (eBIRForm) Package
 b. Print the duly accomplished BIR Form No. 1702

c. Proceed to the nearest Authorized Agent Bank (AAB) under the jurisdiction of the
Revenue District Office where you are registered and present the duly
accomplished BIR Form 1702, together with the required attachments and your
payment.

d. In places where there are no AABs, proceed to the Revenue Collection Officer or
duly Authorized City or Municipal Treasurer located within the Revenue District
Office where you are registered and present the duly accomplished BIR Form 1702,
together with the required attachments and your payment.

e. Receive your copy of the duly stamped and validated form from the teller of the
AABs/Revenue Collection Officer/duly Authorized City or Municipal Treasurer.

3. For Manual Filer

a. Fill-up the BIR Form No. 1702 in triplicate copies.

b. Proceed to the Revenue District Office where you are registered or to any Tax
Filing Center established by the BIR and present the duly accomplished BIR Form
1702, together with the required attachments.

c. Receive your copy of the duly stamped and validated form from the RDO/Tax Filing
Center representative.

Deadline

Final Adjustment Return or Annual Income Tax Return - On or before the 15th day of the fourth
month following the close of the taxpayer’s taxable year