REVENUE MEMORANDUM CIRCULAR NO. 5-2023 issued on January 13, 2023
provides the Transitory Provisions for the implementation of the quarterly filing of ValueAdded Tax (VAT) Returns starting January 1, 2023 pursuant to Section 114(A) of the National
Internal Revenue Code (NIRC) of 1997 (Tax Code), as amended by Republic Act No. 10963
(TRAIN Law).
VAT-registered taxpayers are no longer required to file the Monthly Value-Added
Tax Declaration (BIR Form No. 2550M) for transactions starting January 1, 2023 but will
instead file the corresponding Quarterly Value-Added Tax Return (BIR Form No. 2550Q)
within twenty-five (25) days following the close of each taxable quarter when the transaction
transpired.
In order to avoid confusion during the initial implementation, particularly for
taxpayers that are under fiscal period of accounting, the following Transitory Provisions are
provided:
| Quarter Ending | Transactions Covering the Month of | Filing of 2550Q for the Quarter Ending |
|---|
Taxpayers of covered RDOs who will use the said online registration facility of the Bureau are required to enroll or create an account in ORUS. To successfully enroll or create an account, taxpayer should provide a valid permanent official email address, which is required to be updated in the BIR’s registration record following the guidelines prescribed under Revenue Memorandum Circular No. 122-2022.