RMC No. 5-2023 — Provides transitory provisions for the implementation of the Quarterly filing of VAT Returns starting January 1, 2023 pursuant to Section 114(A) of the Tax Code of 1997, as amended by RA No. 10963 (TRAIN Law)

REPUBLIC OF THE PHILIPPINES BUREAU OF INTERNAI REVANDE RECORP 3 M.F.LYISION

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE EEEAVED -3548 p:MMYN-1 jAN 13 ZBZ3Y

03 January 2023

REVENUE MEMORANDUM CIRCULAR NO. S -2023

SUBJECT: Providing Trausitory Provisions for the Implementation of the Quarterly Filing of

"TRAIN Law" VAT Returns Starting January I, 2023 Pursuant to Section 114(A) of the National Internal Revenue Code of 1997 (Tax Code), as Amended by Republic Act (R.A.) No. 10963, Otherwise Known as the "Tax Reform for Acceleration or Inclusion" or the

TO All Internal Revenue Officers and Others Concerned

payment reguired under this Subsection shall be done within twenty-five (25) days following the close of of Section 1 14(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, which provided that "beginning January 1, 2023, the filing and This is in line with Section 37 of R.A. No. 10963 or the "TRAIN Law," amending certain provisions

instead file the corresponding Quarterly Value-Added Tax Return (BIR Form No. 2550Q) within twenty each taxable quarter." In this regard, VAT-registered taxpayers are no longer required to file the Monthly Value-Added Tax Declaration (BIR Form No. 2550M) for transactions starting January 1, 2023 but will five (25) days following the close of each taxable quarter when the transaction transpired.

are under fiscal period of accounting, the following transitory provisions are hereby provided: In order to avoid confusion during the initial implementation thereof, particularly for taxpayers that

Note: *" Note that the 25h day deadtine falls on a Salurday February 28. Required to file January 31, Required to file March '31, Quarter Ending 2023 2023 2023 than January 20, than January 20, December 2022 2550M not later 2550M not later applicable Transactions Covering the Month of 2023 2023 Not File 2550M Required to File 2550M Required to applicable January 2023 Not Not Not Required to FiIe 2550M Required to File 2550M applicable February 2023 Not Not Not 2550Q not later Required to file than January applicable December applicable 25, 2023 Filing of 2550Q for the Quarter Ending 2022 Not Not Required to file 25500 not later than February applicabie applicable 27, 2023* January 2023 Not Not later than March file 25500 not Required to applicable February applicable 27, 2023* 2023 Not Not

publicity as possible. All concerned are hereby enjoined to be guided accordingly and give this Circular as wide a

ROMTO D. Lumagui, Jr M

Commissioner.of Internal Revenue

GR