To get an official working Excel format, you have two legitimate routes:
For amended returns (Line G “Amended” = Yes), Excel should require entry of the original return’s BIR Receipt Date and Reference Number. bir form 1702 rt version 2018 excel format
| Line | Field | Excel Formula / Instructions | |------|-------|-------------------------------| | 4 | Gross Sales/Receipts/Revenues/Fees | Sum of all taxable revenue (from audited P&L). | | 6 | Total Deductions | Choose: Itemized (line 12A) OR Optional Standard Deduction (40% of line 4). | | 7 | Taxable Income (line 4 – line 6) | =MAX(0, Line4 – Line6) | | 8A | RCIT Due (25% of line 7 – note pre-CREATE rate) | =Line7 * 0.25 | | 8B | MCIT (2% of gross income) – compute if applicable | =GrossIncome * 0.02 | | 9 | Higher Between RCIT and MCIT | =MAX(8A, 8B) | | 10 | Less: Tax Credits (Creditable Withholding Tax from Form 2307) | Sum of all valid CWT. | | 13 | Total Tax Still Due / (Overpayment) | =Line9 – Line10 – Line11 | To get an official working Excel format, you
: Summarizes the income tax due, credits, and any applicable penalties like surcharges or interest. Part IV - Computation of Tax | | 7 | Taxable Income (line 4
With the BIR pushing for full digitalization under the Internal Revenue Stamps Integrated System (IRSIS) and the upcoming e-Invoicing system, the days of manually filling out Excel versions may be numbered. However, for the foreseeable future, Excel remains a powerful tool for tax preparers. The will likely remain in use until the BIR radically overhauls the corporate tax return structure.
The January 2018 version introduced several streamlined features for easier reporting: