Good news for our Corporate taxpayers! You can now file your Annual Income Tax through Taxumo as we've released Form 1702-RT just in time for Annual ITR season on April 2023.
If you filed your 1702Qs on our platform but suddenly found yourself unable to file for its Annual Income Tax form, this is because the annual filing Corporations is separated into three (3) forms depending on your Alphanumeric Tax Code (ATC).
For 1702-RT, this is the form for Corporations subject to REGULAR Income Tax. These ATCs are:
IC010 (Corporations in General)
IC020 (Taxable Partnership)
IC040 (GOCCs, Agencies, and Instrumentalities)
IC041 (National Government and LGU)
IC070 (Resident Foreign Corporation in General)
For 1702-EX, this is the form for Corporations EXEMPT under the Tax Code and have no other taxable income. These ATCs are:
IC011 (Exempt Corporation on Exempt Activities)
IC021 (General Professional Partnership)
For 1702-MX, this is the form for Corporations with MIXED income and subject to Special or Preferential Rate.
IC010 (Corporations in General)
IC011 (Exempt Corporation on Exempt Activities)
IC020 (Taxable Partnership)
IC021 (General Professional Partnership)
IC030 (Proprietary Educational Institutions)
IC031 (Non-stock, Non-profit Hospitals)
IC040 (GOCCs, Agencies, and Instrumentalities)
IC041 (National Government and LGU)
IC070 (Resident Foreign Corporation in General)
IC080 (Resident Foreign Corportaion-International Carriers)
IC101 (Regional Operating Headquarters)
IC190 (Offshore Banking Units)
IC191 (Foreign Currency Deposit Unit)
Right now, the Annual Income Tax form for Corporations available in Taxumo is 1702-RT. If your ATC is not included in this annual form, you can always reach out to us and we'll be happy to connect you with our partner CPAs who can handle your Annual Income Tax filing. 😊
For questions or inquiries, you can reach out to us at cs@taxumo.com or through the live chat at the bottom-right of the screen.