RMC No. 72-2005 — Prescribes the transition procedures for all Electronic Filing and Payment System filers (Large Taxpayers/Top 10,000 Corporations) in filing tax returns affected by the new VAT Law (R.A. 9337) Digest | Full Text

REPUBLIKA NG PILIPINAS KAGAWARAN NG PANANALAPI KAWANIHAN NG RENTAS INTERNAS Quezon City December 16, 2005 REVENUE MEMORANDUM CIRCULAR NO. 72-2005 SUBJECT : Transition Procedures for All EFPS Filers (Large Taxpayers/Top 10,000 Corporations) in Filing Tax Returns Affected by the New VAT Law (R.A. 9337). TO : All Internal Revenue Officials, Employees and Others Concerned Relative to the implementation of the New VAT Law (R.A. 9337), the following BIR forms were enhanced: 1. BIR Form No. 1600 (Monthly Remittance Return of Value Added Tax and Other Percentage Taxes Withheld) 2. BIR Form No. 1601F (Monthly Remittance Return of Final Income Taxes Withheld) 3. BIR Form No. 1702 (Annual Income Tax Return for Corporations & Partnerships) 4. BIR Form No. 1702Q (Quarterly Income Tax Return for Corporations & Partnerships) 5. BIR Form No. 2200M (Excise Tax Return for Mineral Products) 6. BIR Form No. 2200P (Excise Tax Return for Petroleum Products) 7. BIR Form No. 2306 (Certificate of Final Tax Withheld at Source) 8. BIR Form No. 2307 (Certificate of Creditable Tax Withheld at Source) 9. BIR Form No. 2551M (Monthly Percentage Tax Return) 10. BIR Form No. 2550M (Monthly VAT Return) 11. BIR Form No. 2550Q (Quarterly VAT Return) The manual forms shall be available for use by December, 2005 in all Revenue District Offices and Large Taxpayers Offices. However, for EFPS filing, only Enhanced BIR Form Nos. 1600, 1601F and 2551M pursuant to R.A. 9337 shall be available in EFPS. In view of this, the following procedures shall be adopted by all EFPS filers (Large Taxpayers/Top 10,000 Corporations):

1. E-file using the existing online forms in order to proceed to e- payment. 1.1 For BIR Forms 2550M/2550Q e-filers: 1.1.1 Fill-up the applicable items 12 � 16 under Part II of the existing BIR Form 2550M or items 14 � 18 under Part II of the existing BIR Form 2550Q then click "validate" button. Ignore the system generated amount, then click "submit" button. 1.1.2 The Filing Reference No page appears upon clicking the "submit" button. Then, click "proceed to payment" button. 1.1.3 The EFPS Payment Form page will appear upon clicking the "proceed to payment" button. Then, under the item "EFPS Mode of Payment", click "fund transfer" button and choose the transacting bank. 1.1.4 Type in the "Amount" field, the amount computed based on the enhanced form. Then, click "submit" button. A message "the fund transfer amount exceeds the amount due. Do you want to continue?" will appear on screen. Click "ok" button. The taxpayer will be redirected to the chosen bank. 1.2 For BIR Forms 1600/1601F/ 2551M e-filers: 1.2.1 Follow the existing procedure. However, in the "List of Alphanumeric Tax Codes" window, choose the applicable ATC and tax rates. Then, click "ok" button. The system shall generate the amount to be paid based on the chosen ATC and tax rates. 1.3 For BIR Forms 2200P/ 2200M e-filers: 1.3.1 Follow the existing procedure. However, for those ATCs whose ATC rates had changed, type the necessary information provided under the "Others" item of Schedule I. The system shall generate the amount to be paid based on the inputted ATC and tax rates. 2. Submit manually all applicable enhanced forms (those which are not available in EFPS) together with the Filing Reference Number Page to the Revenue District Offices and Large Taxpayers Offices where they are registered fifteen (15) days after e-filing and e- payment. Manual filing shall no longer be required once the enhanced BIR Forms becomes available in EFPS.

3. Once the enhanced forms are available in EFPS, e-filers are required to amend the previously filed tax returns in EFPS within five (5) days from date of announcement via the BIR Web by encoding the contents of the manual return previously filed. E- Payment shall no longer be required if the tax due on the amended return is equal to the amount previously paid. However, if the tax due on the amended return is greater than the amount previously paid, the taxpayer shall e-pay the unpaid amount. All Revenue Officials are hereby enjoined to give this Circular as wide as publicity as possible. (Original Signed) JOSE MARIO C. BU�AG Commissioner of Internal Revenue H-2