[Ask the Tax Whiz] How can I file for the quarterly VAT starting January 1, 2023?

Has there been any change in filing the VAT returns for the year 2023? 

Yes. Under TRAIN Law, starting from January 1, 2023, the filing and payment of quarterly VAT returns will have to be made within 25 days following the close of each taxable quarter. This means that VAT-registered taxpayers will no longer be required to file their monthly VAT declarations (BIR Form No. 2550M). Instead, VAT-registered taxpayers need only file quarterly VAT returns (BIR Form No. 2550Q).

Revenue Memorandum Circular (RMC) No. 5-2023 provides for the transitory provisions for the implementation of the Quarterly Filing of VAT returns starting January 1, 2023.

How can taxpayers that are “under the fiscal period” adjust with the initial implementation of quarterly filing of VAT returns?

Transitory provisions are hereby provided:

For taxpayers with the quarter ending January 31, 2023, the deadline of filing the BIR form 2550Q shall not be later than February 27, 2023 since the 25th day falls on Saturday. However, they are still required to file for BIR form 2550M for the transactions covering December 2022 on or before January 20, 2023.

The same goes for taxpayers with the quarter ending February 28, 2023. The deadline of filing the quarterly VAT returns shall not be later than March 27, 2023 since the 25th day falls on Saturday. However, they are also required to file for BIR form 2550M for transactions covering December 2022 on or before January 20, 2023.

Then, the calendar period applies for taxpayers with first (1st) quarter ending March 31, 2023, as they shall be required to file the BIR form 2550Q not later than January 25, 2023 for the quarter ending December 2022.

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