Taxumo has finally released the Quarterly Income Tax Return for Corporations, Partnerships, and Non-Individual Taxpayers filed through Form 1702Q and is available for those who availed of the Small & Medium subscription plan.
Currently, our 1702Q forms are still using the old 30% rate. As you know, the rates for corporations have recently been revised according to the CREATE Act - bringing down the standard tax rate from 30% to 25%.
Our team is working to translate this to our digital forms but for now, Taxumo users can file their Form 1702Q using the old rate and then file an amendment once we release the form with the new rate. Rest assured that overpayments will be recorded as tax credits which our users can use for their next filings.
Keep in touch for when we release the form with the new rates!