In the preparation of BIR Form No. 1702-MX, what is/are the Alphanumeric Tax Code (ATC) that the company should use?Select one:a.IC 055 onlyb.IC 057 onlyc.No correct answerd.IC 055 and IC 057
Question
In the preparation of BIR Form No. 1702-MX, what is/are the Alphanumeric Tax Code (ATC) that the company should use?Select one:a.IC 055 onlyb.IC 057 onlyc.No correct answerd.IC 055 and IC 057
Solution
The correct answer is d. IC 055 and IC 057. These are the Alphanumeric Tax Codes (ATC) that a company should use in the preparation of BIR Form No. 1702-MX. IC 055 is for Regular Income Tax Rate and IC 057 is for Minimum Corporate Income Tax.
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