This field will appear and request for an input from you if you are filing your Form 1702Q for the first time in Taxumo (starting Q2 onwards). Once you have a record in Taxumo's system, such as previous 1702Q filings, then this field will be automatically filled based from those filings.
To get the number for this field, check your 1702Q filing from the previous quarter and enter the number highlighted in the image below.
Using 2008 version:
Using 2018 version:
This field will not appear if you are filing for your 1702Q Q1.
If the number here is enclosed within a parenthesis, enter it as a negative number.
If this is the first 1702Q you're required to file, input 0 in this field.
If you missed your previous 1701Q filings, you would need to compute the taxable income first for your previous quarter/s. You may use Taxumo to file these missed filings (inc penalties computed) - simply send us a note and we'll send you the links to file these late filings.
For those who are using Minimum Corporate Income Tax (MCIT) rate:
This rate can only be applied to corporations who are already at least four (4) taxable years in age.
The computations for MCIT rate is independent from the computations for the regular rate.
Taxumo will calculate for both Regular rate and MCIT rate. Whichever is the higher amount will be the amount reflected in your Tax Dues.