RMC No. 59-2023 — Announces the availability of the revised BIR Form No. 2550Q [Quarterly Value-Added Tax (VAT) Return] January 2023 (ENCS) Digest | Full Text | Annex A | Guidelines

nyiX BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE Quezon City BureAUoF iNtErsiAT reveNUE a:ioD.n MAY 19 2023 Y

RECORDs MGi.u. ISiCN May 19, 2023

REVENUE MEMORANDUM CIRCULAR NO.59- 2023

SUBJECT : Availability of the Revised BIR Form No. 2550Q [QuarterIy Value-

Added Tax (VAT) Return} January 2023 (ENCS)

TO : All Internal Revenue Officers, Employees, and Others Concerned

This Circular is issued to prescribe the newly revised BIR Form No. 25500 [Ouarterly. Value-Added Tax (VAT) Return) January 2023 (ENCS) version, hereto attached as Annex " A"

otherwise known as the "Tax Reform for Acceleration and Inclusion (TRAIN) Act" which amended certain provisions of the Tax Code of 1997, as follows: The return was revised in line with the provisions of Republic Act (R.A.) No. 10963.

Tax Code of 1997 Particulars RA No. 10963 Provisions Section 114(A) Payment of VAT Filing of Return and Section 37: filing and payment required under twenty-five (25) days following the close of each taxable quarter. Beginning January 1, 2023, the this Subsection shall be done within

Section 110(A)(2)(b) Creditable Input Tax Section 35: The amortization of the input VAT

the same as scheduled until fully imported shall be allowed to apply December 31, 2021. Afterwhich. VAT on capital goods purchased or utilized. taxpayers with unutilized input shall only be allowed until

Section 114(C) Withholding of VAT Section 37: Beginning January 1, 2021, the VAT withholding system shall shift from final to a creditable system.

(www.bir.gov.ph) under the BIR Forms-VAT/Percentage Tax Returns Section. However, the Form is not yet available in the Electronic Filing and Payment System (eFPS) and Electronic The revised BIR Form No. 2550Q is already available in the BIR .website

Bureau of Internal Revenue Forms (eBIRForms). Thus, eFPS/eBIRForms filers shall continue to use BIR Form No. 2550Q in the eFPS and in Offline eBIRForms Package v7.9.4 in filing

availability. Offline eBIRForms Package, a separate revenue issuance shall be released to announce its and paying the VAT payable/due. Once the return becomes available in the eFPS and in the

and must fill out all the applicable-fields: otherwise penalties under Sec. 250 of the Tax Code Manual filers shall download and print the PDF version of the revised BIR Form 2550Q

as amended, shall be imposed. Payment of the tax due thereon, if any, shall be made thru:

a) Online Payment

Landbank of the Philippines (LBP) Link.BizPortal -- for taxpayers who have PSBank and Asia United Bank); or LANDBANK/OFBank ATM account and taxpayer utilizing PCHC Paygate or PESONet facility (depositors of RCBC, Robinsons Bank, Union Bank, BPI

Tax Software Provider (TSP) - GCash, Maya, MyEG Union Bank of the Philippinies (UBP) Online/The Portal -- for taxpayers who Development Bank of the Philippines' (DBP PayTax Online) -- for holders of VISA/MasterCard Credit Card and/or BancNet ATM/Debit Card; or have an account with UBP or Instapay using UPAY Facility for individual non- account holder of Union Bank.

b) Manual Payment

In any Authorized Agent Bank (AAB) located within the territorial jurisdiction

jurisdiction of the RDO where the taxpayer (Head Office of the business the taxpayer (Head Office of the business establishment) is registered; or In"places where there are no AABs, the return shall be filed and the tax due shall be paid through the concerned Revenue Collection Officer (RCO) under the establishment) is registered. of the Large Taxpayers Service (LTS)/Revenue District Office (RDO) where

give this Circular as wide a publicity as possible. All internal revenue officers, employees, and others concerned are hereby enjoined to

rissioner of Internal Revenue 007910 LUM AGUI, JR.

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sureAU OF INtER vAT ReVeNUe 2: 10 MAY 1'9 "223 p.m y

I RECOROS MOI.U. ISICN