Effective January 1, 2023, VAT-registered taxpayers are no longer required to file the Monthly Value-Added Tax Declaration (BIR Form No. 2550M).
This was contained in Revenue Memorandum Circular (RMC) No. 5-2023 issued by the Bureau of Internal Revenue (BIR) on January 13, 2023, which provides the Transitory Provisions for the implementation of the quarterly filing of VAT Returns starting on January 1, 2023 pursuant to Section 37 of Republic Act No. 10963 (TRAIN Law), amending certain provisions of Section 114(A) of the Tax Code of 1997, as amended, and as implemented under Section 4-114-1(A) of Revenue Regulations (RR) No. 13-2018.
With the said provision, VAT-registered taxpayers will now file their corresponding Quarterly Value-Added Tax Return (BIR Form No. 2550Q) within twenty-five (25) days following the close of each taxable quarter when the transaction transpired.
To avoid confusion during the initial implementation, particularly for taxpayers that are under fiscal period of accounting, the following Transitory Provisions are provided in the said RMC:
| Quarter Ending | Transactions Covering the Month of | Filing of 2550Q for the Quarter Ending | ||||
| December 2022 | January 2023 | February 2023 | December 2022 | January 2023 | February 2023 | |
| January 31, 2023 | Required to file 2550M not later than January 20, 2023 | Not applicable | Not Required to File 2550M | Not applicable | Required to file 2550Q not later than February 27, 2023* | Not applicable |
| February 28, 2023 | Required to file 2550M not later than January 20, 2023 | Not Required to File 2550M | Not applicable | Not applicable | Not applicable | Required to file 2550Q not later than March 27, 2023* |
| March 31, 2023 | Not applicable | Not Required to File 2550M | Not Required to File 2550M | Required to file 2550Q not later than January 25, 2023 | ||
With the quarterly filing of VAT Returns, we expect VAT taxpayers to be fully compliant with their duties and responsibilities to file their tax returns and pay the correct taxes on time”, said Commissioner Romeo D. Lumagui, Jr.
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