1. FILING OF ANNUAL INCOME TAX RETURN FOR DOMESTIC CORPORATIONS WITH REGULAR TAX Instructions: 1. Download BIR Forms 1702-RT Version 2018 at http://www.bir.gov.ph 2. Input ALL the necessary information in the returns (see below). 3. Compute the income tax payable, if any. 4. Submit the BIR Form 17012-RT. Relevant information: YOU established BossVic Corporation (BVC for brevity), a company engaged in the business of buying and selling merchandise. You registered BVC in BIR RDO No. 32-Manila and was assigned Taxpayer Identification No. 123-456-789-00000. Your TIN is 987-654-321-0000. BVC's registered address is Brgy. Walangtinama, Manila City. Additional information: 1. BVC chose itemized deduction. 2. The financial records for taxable year 2023 of BVC showed the following: 1. Gross sales - Php 10,000,000 2. Cost of sales - Php 5,000,000 3. Expenses - * Salaries and wages of employees - Php 2,000,000 * Depreciation - Php 500,000 * Rent expense - Php 500,000 * Utilities in office - Php 200,000 * Gas and oil - Php 200,000 * Representation expense - Php 50,000 * Registration fees of car and other taxes - Php 50,000 3. Your clients withheld the following and gave you Form 2307: * 1st quarter 2307 - Php 50,000 * 2nd quarter 2307 - Php 50,000 * 3rd quarter 2307 - Php 50,000 * 4th quarter 2307 - Php 50,000 4. Total payments during quarterly returns are Php 50,000 Other information: * BVC chose to carry-over the excess, if any. * Company's assets amounted to Php 10M.

2. FILING OF ANNUAL INCOME TAX RETURN FOR PURELY SELF-EMPLOYED INDIVIDUALS WHO AVAILED 8% Instructions: 1. Download BIR Forms 1701A Version 2018 at http://www.bir.gov.ph. 2. Input ALL the necessary information in the returns (see below). 3. Compute the income tax payable, if any. 4. Submit the BIR Form 1701A. Relevant information: YOU are engaged solely in the business of selling goods and merchandise. In compliance with the existing rules in doing business, you applied for your TIN where your home BIR RDO (select the BIR which has jurisdiction over the place of your residence) assigned you Taxpayer Identification No. 123-456-789-0000. Additional information:

1. For the year 2023, you chose 8% tax rate 2. Your financial records showed the following: 1. Gross Sales - Php 2,000,000 2. Cost of Sales - Php 1,000,000 3. Expenses - * Salaries and wages of staff - Php 360,000 * Depreciation of car used in delivery - Php 50,000 * Representation expense - Php 10,000 * Office Rent expense - Php 240,000 * Rent expense on your condominium - Php - 240,000 * Utilities in office - Php 120,000 * Electricity expenses in condominium - Php 60,000 * Registration fees of delivery car and other taxes - Php 5,000 * Gas and oil - Php 50,000 * Registration fees of personal car and other taxes - Php 5,000 * Gas and oil of personal - Php 120,000 4.Rental income - Php 250,000 5.Tax payments for the three quarters amounted to Php 75,000 Other information: Your clients are Top Withholding Agents and thus withheld 1% on their purchases from you and given you Form 2307: * 1st quarter 2307 - Php 5,000 * 2nd quarter 2307 - Php 5,000 * 3rd quarter 2307 - Php 5,000 * 4th quarter 2307 - Php 5,000

take note: answer it on bir forms