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BA 104
MODULE 7

Prepared by:
MARIBEL B. TUANTE
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MODULE 7 – QUARTERLY INCOME TAX FOR CORPORATIONS AND

PARTNERSHIPS

Module Title: Quarterly Income Tax for Corporations and Partnerships

Course Title: Income Taxation

Course Number: BA 104

Course Description: This introductory Taxation course is primarily concerned with income
taxation. The objective is to develop a working knowledge of the basic principles and rules of
the income tax system as these apply to individuals, partnerships and corporations. It covers an
overview of the national tax system, and the income taxation of employees and unincorporated
businesses and incorporated businesses. It provides the students with the knowledge of the
capital gains tax, final tax on certain passive income, and the year-end tax, including the
minimum corporate income tax, the normal tax, and the improperly accumulated profits tax of
corporations and withholding taxes. Tax forms are provided for specific topics discussed.

Total Learning Time: Week

Pre-requisite: Fundamentals of Accounting, Part II

Overview:
This module will discuss the quarterly income tax for corporations and partnerships
and other non-individual taxpayers.

Learning Outcomes: At the end of this module, students will be able to:
1. Familiarize BIR Form 1702Q
2. Understand and familiarize the documentary requirements for quarterly income tax
for corporations and partnerships
3. Understand and familiarize the procedures of filing the quarterly income tax for
corporations and partnerships

Indicative Content:

 BIR Form 1702Q

 Documentary Requirements
 Procedures
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Discussion:

BIR Form 1702Q

BIR Form 1702Q - Quarterly Income Tax Return for Corporations, Partnerships and
Other Non-Individual Taxpayers

This return is filed quarterly by every corporation, partnership, joint stock companies,
joint accounts, associations (except foreign corporation not engaged in trade or business in
the Philippines and joint venture or consortium formed for the purpose of undertaking
construction projects or engaging in petroleum, coal, geothermal and other energy operations),
government-owned or controlled corporations, agencies and instrumentalities.

Filing Date

The corporate quarterly income tax return shall be filed with or without payment within
sixty (60) days following the close of each of the first three (3) quarters of the taxable year
whether calendar or fiscal year.
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Documentary Requirements

Documentary Requirements

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

2. Duly approved Tax Debit Memo, if applicable
3. Previously filed return, if an amended return is filed for the same quarter

Procedures

1. For eFPS Filer

a. Fill-up applicable fields in the BIR Form No. 1702Q
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 applicable fields in the BIR Form No. 1702Q in the downloaded
Electronic Bureau of Internal Revenue Form (eBIRForm) Package
b. Print the duly accomplished BIR Form No. 1702Q
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 1702Q, 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 1702Q, together with the required attachments and your payment.
e. Receive your copy of the duly stamped and validated tax return and BIR
prescribed deposit slip from the teller of the AABs or Electronic Revenue
Official Receipt (eROR) from the Revenue Collection Officer/duly Authorized
City or Municipal Treasurer.
3. For Manual Filer
a. Fill-up the BIR Form No. 1702Q 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 1702Q, together with the required attachments.
c. Receive your copy of the duly stamped and validated form from the RDO.
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Filing Date

Corporate Quarterly Declaration or Quarterly Income Tax Return - On or before the 60th day
following the close of each of the quarters of the taxable year

References:

Win Ballada, and Susan Ballada (2019). Income Taxation (17th Edition). Philippines:
Domdane Publishers & Made Easy Books

Enrico D. Tabag, and Earl Jimsonarcia. (2018). Income Taxation with Special Topics in
Taxation. Philippines: Book Shop

Online References:

https://www.bir.gov.ph/images/bir_files/taxpayers_service_programs_and_monitoring_1/1702Q%2
02018ENCS%20final2.pdf

https://www.bir.gov.ph/index.php/10-tax-information/245-income-tax.html