RMC No. 134-2019 — Announces the availability of the Revised BIR Form No. 1702-EX (Annual Income Tax Return) January 2018 (ENCS) Version 2 Digest | Full Text | Annex A

REPUBLIC OF THE PHILIPPINES

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE

Quezon City

December 4, 2019

REVENUE MEMORANDUM CIRCULAR NO. /34- 2D/C

SUBJECT Circularizing the Availability of the Revised BIR Form No. 1702-EX (Annual Income Tax Return) January 2018 (ENCS) Version 2

TO All Internal Revenue Officers, Employees, and Others Concerned

This Circular is issued to prescribe the newly-revised BIR Form No. 1702-EX (Annual Income Tax Return for Corporation, Partnership and Other Non-Individual Taxpayer EXEMPT under the Tax Code) January 201 8 (ENCS) version 2, hereto attached as Annex "A", in relation to the provisions of Section 34 (L) of the National Internal Revenue Code (NIRC), as amended. and implemented by Section 8 of Revenue Regulations (RR) No. 8-2018.

Hence, the aforesaid return inciudes both the Optional Standard Deduction (OSD) and the itemized deductions, which are available to be claimed by General Professionat Partnerships (GPPs).

The revised manual return is already available in the BIR website (www.bir.gov.ph) under the BIR Forms-Income Tax Return Section and in the Offline Electronic Bureau of Internal Revenue Forms (eBIRForms) Package v7.5. However, the form is not yet available in the Electronic Filing and Payment System (eFPS); thus, eFPS filers shall use the Offline

revenue issuance shall be released to announce the availability of the return. eBIRForms Package v7.5 in filing the said return. Once the return is available in the eFPS, a

Further, BIR Form No. 1702-RT (Annual Income Tax Return for Corporations. Partnerships and Other Non-Individual Taxpayers Subject Only to the REGULAR Income Tax Rate) January 2018 (ENCS), which was circularized under Revenue Memorandum Circular (RMC) No. 19-2019, is also available in the Offline eBIRForms Package v7.5.

All internal revenue officers, employees, and others concerned are hereby enjoined to give this Circular as wide a publicity as possible.

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Commissioner of Internal Revenue CAESAR R. DULAY

H2 BUREAU OF INTERNAL REVENUE NTYYYN DEC O 5 2019 9:10 A.M1 030 950

RECORDS MGT. DIVISION UU