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RMC No. 52-2023: Clarifies the optional filing and payment of monthly VAT Returns (BIR Form No. 2550M) for VAT-registered persons

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Summary

RMC No. 52-2023 clarifies the optional monthly filing and payment of VAT using BIR Form No. 2550M by VAT-registered persons.

Key points

  1. Monthly filing still allowed. The Tax Code now requires quarterly VAT filing and payment, but VAT-registered persons may still file and pay monthly using BIR Form No. 2550M. The procedures in RR Nos. 16-2005 and 6-2014, RMC No. 68-2005 and related issuances continue to apply.
  2. Switching between monthly and quarterly. Switching from Form 2550M to quarterly Form 2550Q, or the reverse, carries no penalties.
  3. Deadlines. BIR Form 2550Q and payment must be made within twenty-five (25) days following the close of each taxable quarter. There is no prescribed deadline for monthly filing of Form 2550M.

Who is affected

  • VAT-registered persons

Deadlines and effectivity

  • Form 2550Q: within twenty-five (25) days following the close of each taxable quarter
  • Form 2550M: no prescribed deadline

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.

Related issuances

CitesRMC No. 68-2005RR No. 13-2018RR No. 16-2005RR No. 6-2014

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.