Republic Act (RA) No. 10963 or the TRAIN Law introduced several major revisions to the National Internal Revenue Code (Tax Code) of 1997. While the law became effective on Jan. 1, 2018, some changes ...

Quarterly return forms for value added tax (VAT) has been updated by the Excise and Taxation Department. Returns for the first quarter from January to March are due on April 30. Traders will now ...

Instead, VAT-registered taxpayers need only file quarterly VAT returns (BIR Form No. 2550Q). Revenue Memorandum Circular (RMC) No. 5-2023 provides for the transitory provisions for the ...

Under the new regulations, VAT taxpayers must file quarterly ... close of the taxable quarter using the amended Quarterly VAT return (BIR Form 2550 Q- April 2002 (ENCS version).

A senior official said all government entities will have to enrol themselves on the VAT Department ... to be filed online in Form GE-I. "The return should be filed on a quarterly basis in Form ...

You need to file a quarterly VAT return (BIR Form 2550Q) to consolidate your quarterly sales and purchases. It’s different from the monthly VAT return (BIR Form 2550M). 3. The Summary List of ...