(To be filled up by the BIR)

DLN:

BCS No.

Republika ng Pilipinas
Kagawaran ng Pananalapi

PSIC:

BIR Form No.

Improperly Accumulated Earnings

Tax Return

Kawanihan ng Rentas Internas

For Corporations

1704
May 2001

Fill in all applicable spaces. Mark all appropriate boxes with an X.

1

For the
2 Year Ended
( MM / YYYY )

Calendar

Fiscal

3 Amended Return?

Yes

Part I
TIN

Taxpayer's Name

7 0

Information

RDO Code

8 Line of Business/
Occupation

10 Registered Address

12 Date of Incorporation
(MM/DD/YYYY)
Part II

AT C

No

Background

No. of sheets attached

11 Zip Code

12A

Date of Registration with BIR

(MM/DD/YYYY)
Computation of Tax

12B

13 Taxable Income

13

14 Add: Income exempt from Tax

15

14A

14B

14C

14D

Income excluded from Gross Income

16

15A

15B

15C

15D

Income subject to Final Tax

17

16A

16B

16C

16D

Net Operating Loss Carry-over (NOLCO) deducted

17A

17B

18 Total (Sum of Item 13 and Item 17B)

19

18

Income tax paid/payable for the taxable year

19

20

Dividends actually or constructively paid/issued

20

21

Amount reserved for the reasonable needs of the business

Less:

(See Schedule I)

21A

21B

22 Improperly Accumulated Taxable Income (Item 18 less Item 21B)

22

23 Tax Rate

23

24 Improperly Accumulated Earnings Tax (Item 22 multiply by Item 23)

25

Add:

10%

24

Penalties
Surcharge

Interest

25A

Compromise

25B

25C

25D

26 Total Amount Payable (Sum of Item 24 and Item 25D)

26

We declare, under the penalties of perjury, that this return has been made in good faith, verified by us, and to the best of our knowledge and belief, is true
and correct, pursuant to the provisions of the National Internal Revenue Code, as amended, and the regulations issued under authority thereof.
27

28
President/Vice-President/Authorized Representative
(Signature over printed Name)

Treasurer/Asst. Treasurer/Authorized Representative

(Signature over printed Name)

Tax Agent

Tax Agent Accreditation No.

Community Tax Certificate Number

Date Issued
MM
DD
YYYY

Place of Issue

29

30

Part III

31

32

D e t a i l s of P a y m e n t
Date
Number
MM
DD
YYYY

Drawee Bank/
Particulars
Agency
33 Cash/Bank
Debit Memo.
34 Check
34A
34B
34C
35 Tax Debit
35A
Memo
36A
36B
36 Others

Amount

Amount
33
34D

35B

35C

36C

36D

Machine Validation/Revenue Official Receipt Details (If not filed with the bank)

Schedule I

Schedule of amount reserved for the reasonable needs of the business

(emanating from the covered year's taxable income)
Allowance for the increase in the accumulation of earnings

Stamp of Receiving
Office and
Date of Receipt

up to 100% of the paid-up capital

Paid-up Capital as of balance sheet date (covered year)
P
Less: Accumulated Retained Earnings as of previous year
Allowable increase considered as reasonable accumulation
Reserved for definite corporate expansion projects or programs
Reserved for building, plants or equipment acquisition
Reserved for compliance with any loan covenant or pre-existing
obligation established under a legitimate business aggreement
Earnings with legal prohibition against distribution
For subsidiaries of foreign corporations,
Earnings intended or reserved for investment within the Philippines
Total amount reserved for the reasonable needs of the business (To Item No. 21)
BIR FORM NO. 1704
Improperly Accumulated Earnings Tax (IAET) Return
Guidelines and Instructions