New Quarterly Income Tax Returns (1702Q and 1701Q)

Some of us may have already filed our income tax returns in the new format prescribed by the Bureau of Internal Revenue (BIR).  These new tax returns may be downloaded here.  You can also visit in the list of all downloadable free BIR Forms here.

For corporations, partnerships, non-individual taxpayers, self-employed individuals, estates and trusts, they are subject to quarterly filing of quarterly income tax returns.

The corporate quarterly income tax return shall be filed with or without payment within sixty (60) days following the close of each of the first three (3) quarters of the taxable year whether calendar or fiscal year.

For self-employed individuals, estates and trusts following are the deadline of filing:

1st qtrOn or before April 15 of the current taxable year
2nd qtrOn or before August 15 of the current taxable year
3rd qtrOn or before November 15 of the current taxable year

Relative to the issuance of the new annual income tax returns (1700, 1701 and 1702) are there new quarterly income tax returns (1701Q and 1702Q) issued by the BIR?

The BIR has NOT issued any updated or latest form aligned with the new annual income tax returns.  Individuals, estate, trust and entities who are required to file quarterly tax returns should use the old quarterly tax returns as follows (click to download):

There were no changes on how the income tax due and income tax still payable are computed.  For the guidance on how to compute quarterly tax due/payable, refer to out posts which will be updated shortly.  For the mean time, please refer to the provision of the tax code and relevant revenue issuances in the BIR website.

81 Responses to "New Quarterly Income Tax Returns (1702Q and 1701Q)"

  1. sir me question lang po aq reg sa 1701q sa quarterly po dba 4 payment ng quarterly un evry april 15 july 15 oct 15jan 15 kc po na coconfusd aq sa nakalagay dto na evry april, august nd nov, thanx po

  2. I understand the due date for the 1702Q is 60 days after the end of the quarter, yung tax due payment din po ba, same due date or can do we have additional days (after the 60 days) to make the payment, assuming the return was filed timely (within the 60 days)?

  3. hi po. pwedi po bang e close ang 1701Q?
    i mean nakapagfile p nang 1st quarter kasabay nung ITR tapos di na po nakapagfile ng 2nd and 3rd, pwedi po bang e close ang 1701Q?…please advice….tnx po!

  4. Hi Sir. I just want to ask if possible ba na makapagrequest kame ng copy ng 1702Q namen sa BIR? No proper turn over kasi ng previous management so hindi namin mahagilap yung mga BIR files. Thank you 🙂

  5. Mylaleen Rabe Calleja · Edit

    Hello po Sir. tatanong ko lang po kasi ngayon ko lang po napansin na yung 1702q ko last 2nd quarter lahat ng details dun po eh nasabay ko pa yung 1st quarter. Bali na doble po yung 1st quarter ko. ano po dapat gawin ngayong 3rd quarter po. ano po magiging adjustment ko. though negative naman po yung last 2 quarters ko po. thank you

  6. Jovencio M. Bareng, Jr. · Edit

    Hi, included po kami as LTS. Is it alright kung wala pa kaming attachment na 2307sa 1702 Q? Reason: our tenants are late in the submission of the same but we use them as credit in the payment of our tax liability. Our Company wrote them a request that they must provide us a corresponding 2307 for every payment they make. We only get the detail from their voucher for the 5% withholding. For whatever reason, late pa rin sila. Ano po ang implication sa pag fa file namin without 2307?

  7. Hi Sir,

    Paano po kung hindi ako nakapag file ng 1st quarter ITR last April 15?
    ang nafile ko lang po yung annual return?
    may penalty po ba ako?

  8. Gud am. Naguguluhan po ako. Ung po bang binabayaran na percentage tax buwan buan (2551m) e treated as expense to arrive at net taxable income? Or direct deduction po ba sya from income tax payable?

    1. Hi po! Ask ko lang po pano po sa 1701Q para sa 3rd Qtr., ‘ung taxable income ko po kc ‘nung last 2nd Qtr. is negative, and then para po sa filing ng 3rd Qtr., kelangan ‘ung taxable income for the prev. Qtr., include ko po ba na negative ‘ung prev. taxable income ko?

  9. Hi Sir! I have the same problem as Kay Aguilar in which case the 1701Q return for the first qtr showed a negative amount. Instead of including it in 38C, i added it to Q2 deductions.The result showed the exact amount of taxes payable as of the end of Q2. Tama po ba ang ginawa ko?

  10. Philippine Accounting Updates hi sir.. to have clarification lng po sa answer nyo dito.. how i can use the negative result of previous quarter to the next quarter? is it under 38C of 1701Q form? if negative it will be added to the tax due instead mabawas? tama po ba? or should put zero nlang?

  11. Christopher Raymundo Leyson nalilito kasi ako paano yung pag fill up eh … never ko kasi sya pinractice for how many years, and kay google lang ako nag dedepend and sa books kaso puro individual ung nakikita kong sample hindi corp

  12. Hello po,
    Contract of service employee po ako sa isang government office. Since walang employee-employer relationship, professional income/business tax daw po ang dapat ko bayaran. Nagbayad po ako ng annual registration fee sa BIR at kinakaltasan po ako sa payroll ng 5% bimonthly. Sa babayaran ko po bang quarterly tax, maaari ko po ba isama sa itemized deduction ang kinakaltas sa akin na 5% at ang mga personal kong binayaran na SSS, Philhealth, Pagibig at HMO/medical insurance contributions?

    Salamat po.


    1. H Mark, what is the BIR form being issued to you by that government office. You have to look at it, whether the tax withheld you you is sa FINAL or a CREDITABLE withholding tax. Either way, di mo sya pwedeng i-claim as deduction as expenses, pero pag creditable withholding tax sya, pwede mo sya ideduct sa tax due. Meaning deduction sa tax payable. With regards, to SSS, Philheath, etc. di din sya deductible as expense sa income mo. Yung pwede ideduct eh say for example may empleyado ka business mo, binayaran mo SSS etc nila. Pwede iclaim yun as expense. 🙂

  13. can you set up an accounting entry for this:
    net income for 1st quarter (jan-mar) P 3,933,090.24

    Tax Payable @30% 1,179,927.07
    Creditable Tax (1st qtr) (162,455.24)
    Creditable Tax Prior Year (141,885.36)
    Tax Due & payable 875,586.47

    1. Hi Tesa. I doesn’t seem to be so challenging. Is this a test? Well, the entry is:
      (dr) Provision for income tax
      (cr) Creditable taxes
      (cr) Income tax payable
      Just plot in the amounts.


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