Summary
RR No. 15-2018 amends RR No. 8-2018 by moving the deadline for updating registration from VAT to non-VAT from March 31, 2018 to April 30, 2018.
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Key points
- Extended option. Existing VAT-registered taxpayers whose gross sales, receipts and other non-operating income in the preceding year did not exceed the VAT threshold of P3,000,000.00 may update their registration to non-VAT until April 30, 2018. Existing procedures on registration updates and on inventory and surrender or cancellation of unused VAT invoices and receipts apply.
- After the deadline. Existing VAT-registered taxpayers who have not exceeded the threshold in the immediately preceding three years may still opt to update to non-VAT. They follow the rules on registration updates, verification, and inventory and cancellation of VAT invoices and receipts.
Who is affected
- Existing VAT-registered taxpayers within the P3,000,000.00 threshold
Deadlines and effectivity
- Update deadline: April 30, 2018 (previously March 31, 2018)
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.