The Bureau of Internal Revenue (BIR) of the Philippines requires taxpayers to submit various forms to report their income and pay taxes accordingly. One of these forms is the BIR Form 1702, also known as the Annual Income Tax Return for Individuals, Estates, and Trusts. In this article, we will focus on the BIR Form 1702 RT Version 2018 Excel Format, its importance, and how to fill it out correctly.
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You can easily link the 1702-RT template to your TB (Trial Balance) and FS (Financial Statements). bir form 1702 rt version 2018 excel format
Gross Sales: Match. Cost of Sales: Match. Operating Expenses: Match.
It serves as a working paper for tax preparation before encoding the final numbers into the official eBIRForms software. Key Components of BIR Form 1702-RT (v2018) The Bureau of Internal Revenue (BIR) of the
Disclaimer: This file is shared for educational and drafting purposes. Always consult a Certified Public Accountant for specific tax advice.
[ Financial Statements ] ---> [ Excel Template (Form 1702-RT) ] ---> [ eBIRForms / eFPS ] (Auto-calculates & validates) (Official Submission) 1. Automated Mathematical Calculations "Please, no," he whispered
The real power of an Excel format lies in the computation schedules:
Deductions allowed under specific laws.
Total Tax Payable (Summary of tax due and penalties).
Encode the final figures from your Excel sheet into the BIR’s eBIRForms software.