RR No. 15-2018 — Amends RR No. 8-2018 particularly on the due date for the updating of registration from VAT to Non-VAT (Published in Manila Bulletin on April 7, 2018)

BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMEnT OF FInANCE FUREAU OF INTERMALNEWRE IGCORDS N ST DVISSON APR 0 5 2018 9:00 P.M MMc

Quezon City RECEIVED

April 2, 2018

REVENUE REGULATIONS NO.15- 20!8

SUBJECT for the Updating of Registration from VAT to Non-VAT Amends Revenue Regulations No. 8-2018 Particulariy on the Due Date

TO All Internal Revenue Officers and Other Concerned

National Internal Revenue Code of 1997 (Tax Code), as amended, these Regulations are hereby promulgated to amend the transitory provisions of RR No. 8-2018 on the updating of registration from VAT to non-VAT which was due last March 31, 2018. SECTION 1. Scope. - Pursuant to the provisions of Section 244 in relation to Section 245 of the

SECTION 2. Amendment. - Section 13 of RR 8-2018 is hereby amended by extending the deadline of registration updates to read as follows:

"SECTION 13. TRANSITORY PROVISIONS. - In connection with the provision of Section 24(A)(2)(b) and Section 2(A)(2)(c) of the Tax Code, as amended. all existing VAT registered taxpayers whose gross sales/receipts and other non- P3,000,000.00 shall have the option to update their registration to non-VAT until operating income in the preceding year did not exceed the VAT threshold of April 30, 2018, following the existing procedures on registration updates. and the inventory and surrender/cancellation of unused VAT invoices/receipts.

After the above-mentioned date, existing VAT-registered taxpayers who have not exceeded the threshold for the immediately preceding three years, may opt to update their registration to non-VAT following rules and regulations on registration updates, verification, and the inventory and cancellation of VAT invoices/receipts."

SECTION 3. Repealing Clause. - All revenue issuances that are inconsistent with the provisions of these Regulations are hereby amended, modified or repealed accordingly

SECTION 4. Effectivity. -These regulations are effective immediately

Recommending Approval: 002187 CARLOS G.DOMHGUE Secretary of Finance APR 63 2878 CAA

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Commissioner of Internal Revenue CAESAR R. DULAY 015 3 19 YOCORDS MGT. DIVSTON ETLAU OF NTERNAL REVELEJE APR 0 5 2018 / 2:00-P*M: UhN ga

RECEIVED