Bir Form 1702 Rt Version 2018 Excel Format 'link' Free Info

The official eBIRForms software can sometimes be rigid. An Excel template equipped with pre-coded formulas calculates gross income, allowable deductions (itemized or Optional Standard Deduction), taxable income, and tax due automatically. It eliminates manual math errors across complex schedules. 2. Streamlined Data Auditing

The version you are likely looking for is labeled . This version introduced several important updates:

External auditors can easily track the source cells and accounting schedules linked to the final numbers reported to the government. Key Sections of BIR Form 1702-RT (Version 2018) Explained bir form 1702 rt version 2018 excel format free

The BIR does not officially distribute a standalone, fillable Excel file. The official and primary digital version is a , which is part of the eBIRForms Offline Package . However, a direct Excel format is not officially issued. In the absence of an official version, many third-party providers (like JuanTax, Taxumo, and others) offer web-based forms that allow you to accomplish the return in a spreadsheet-like environment.

| Cell | Field | What to Enter | |------|-------|----------------| | B1 | Line 1 – Gross Sales/Revenues | Total sales less returns, discounts, and allowances | | B2 | Line 2 – Cost of Sales/Services | Direct costs (inventory, labor, materials) | | B3 | Line 3 – Gross Income (L1 – L2) | Auto-calculated | | B4 | Line 4 – Itemized Deductions | Rent, salaries, utilities, depreciation, taxes, etc. | | B5 | Line 5 – OSD (Optional Standard Deduction) | 40% of Gross Income (L3) – use only if not itemizing | | B6 | Line 6 – Allowable Deductions | Either L4 or L5, whichever applicable | | B7 | Line 7 – Taxable Income (L3 – L6) | Auto-calculated | | B8 | Line 8 – Income Tax Due | L7 × 25% (or 20% if qualified) | The official eBIRForms software can sometimes be rigid

Before encoding financial details, decide between or the Optional Standard Deduction (OSD) . Under OSD, corporations can deduct a maximum of 40% of their gross income without needing to substantiate expenses. If you select OSD, ensure your Excel file automatically locks or clears out Schedule 4 (Ordinary Allowable Itemized Deductions) to avoid formula conflicts. Step 2: Input Data in the Supporting Schedules First

Failure to file a return on time and pay the correct tax on time will subject the taxpayer to the following civil penalties: Key Sections of BIR Form 1702-RT (Version 2018)

Means you overpaid during quarterly filings. The form will calculate a refund or tax credit. You cannot claim a cash refund via Excel—file Form 1702-RT and then BIR Form 1914 for refund.

Ensure your Excel sheet matches the January 2018 layout precisely.

The summary page showing the final computation, tax credits, payments made in previous quarters (via Form 1702-Q), and the net tax payable or overpayment.

| Feature | Excel 1702-RT (Free) | eBIRForms (BIR Official) | Paid Software (e.g., Taxumo, JuanTax) | |--------|----------------------|--------------------------|----------------------------------------| | Cost | ₱0 | ₱0 | ₱2,000 – ₱10,000/year | | Auto-calculation | ✅ Yes | Minimal | ✅ Yes | | Save work in progress | ✅ Yes (locally) | ❌ No | ✅ Yes (cloud) | | Direct eFiling to BIR | ❌ No (must copy data) | ✅ Yes | ✅ Yes | | Suitable for 2018 version | ✅ Yes | ✅ Yes (but slower) | ✅ Yes (but newer versions) |