ALPHANUMERIC TAX CODES (ATC)

INDUSTRIES COVERED BY VAT

ATC

INDUSTRIES COVERED BY VAT

ATC
1. Mining & Quarrying VQ010
  6.2 Water Transport - Cargo
VB106/VB107
2. Manufacturing  
  6.3 Air Transport - Cargo
VB108
 

2.1 Food Products & Beverages
VM020
  6.4 Telephone & Telegraph
VB109
  2.2 Cement
VM030
  6.5 Radio/ TV Broadcasting
VB111
  2.3 Tobacco
VM040
  6.6 Others
VB112
  2.4 Flour
VM050 7. Real Estate, Renting  
  2.5 Others
VM010/VM100     Business Activity VP100/ VP102
3. Construction VC010 8. Compulsory Social Security  
4. Wholesale and Retail Trade VT010     Public Administration & Defense VD010
5. Hotels and Restaurants VB100/VB101 9. Other Community Social &  
6. Transport, Storages & Communications       Personal Service Actvities VH010
  6.1 Land Transport - Cargo
VB105 10. Others VS010/VB010/VB102/ VB113/VI010
 
BIR Form No. 2550Q - Quarterly Value-Added Tax Return

Guidelines and Instructions
 
Who shall file
  This return shall be filed in triplicate by the following taxpayers:
1.

VAT-registered person;
  2.

A person required to register as a VAT taxpayer but failed to register; and
  3.

A person who imports goods.

       This return must be filed by the aforementioned taxpayers for as long as the VAT registration has not yet been cancelled.

When and Where to File and Pay
       The returns must be filed, with and the VAT due thereon paid not later than the 25th day of the month following the close of the taxable quarter of the taxpayer, to a duly BIR-Accredited Agent Bank (AAB) within the jurisdiction of the Revenue District Office/ Large Taxpayers District Office/ Large Taxpayers Service, where the taxpayer is required to be registered. In places where there are no AAB's, the returns shall be filed and payment shall be made to the Revenue District Officer or duly Aouthorized City or Municipal Treasurer located within the revenue district where the taxpayer is required to be registered. The Revenue Collection Officer or duly Authorized City or Municipal Treasurer shall issue a Revenue Official Receipt (ROR) thereof.
       Where the return is filed with an AAB the lower portion of the return must be properly machine validated and stamped by the AAB to serve as the receipt of payment The machine validation shall reflect the date of paymen, amount paid and transaction code, and the stamped mark shall show the name of the bank, branch code teller's code and teller's initial. The AAB shall also issue an Official Receipt or bank debit advise or credit document, whichever is applicable, as additional proof of payment.
      Any taxpayer who retires from business shall file a final quarterly return and pay the tax due thereon within 25 days from the end of the month when the business ceases to operate.
     Only one consolidated quarterly VAT return covering the results of operation of the head office as well as the branches for all lines of business subject to VAT shall be filed by the taxpayer, for everyr return period.
     Quarterly VAT returns, where no payment is involved shall be filed with the Large Taxpayers District Officer, Large Taxpayers Service, Revenue District Officer, Collection Agent, duly authorized Municipal/City Treasurer of the Municipal/City where the taxpayer is registered or required to be registered.
    Taxpayers filling via Electronic Filing and Payment System (EFPS) shall follow online instructions by accessing EFPS at http://www.bir.gov.ph.


Definition of Terms
 Input Tax means the value-added tax due from or paid by a VAT-registered person in     the course of his trade or business on importation of goods, or local purchase of     goods or services, including lease or use of property from VAT registered person. It     shall also include the transitional input tax determined in accordance with Section 111     of the National Internal Revenue Code.

Output Tax means the value-added tax due on the sale or lease of taxable goods or     properties or services by any person registered or required to register under section     236 of the National Internal Revenue Code.

VAT Refund/TCC Claimed - represents request(s) for VAT refund and/or tax credit filed     with the BIR, DOF, BOC or any other government agency during the return Period

Return Period refers to the span of time when the taxpayer is required to file this return.     It includes the taxable quarter - a calendar quarter or a fiscal quarter, or the period     covered by short period return required to be filed by the taxpayer when the     taxpayer's business ceases to operate or from the effective date of VAT registration     to the end of the first taxable quarter.

Taxable Quarter means the quarter that is synchronized to the income tax quarter of the     taxpayer (i.e. calendar quarter or fiscal quarter).

Example For taxpayers with accounting period ending October 31, the quarterly VAT shall be filed on

1st quarter (November, December and January) February 25
2nd quarter (February, March and April) May 25
3rd quarter (May, June and July) August 25
4th quarter (August, September and October) November 25

       

Schedules
      All persons liable to VAT shall submit to the Revenue District Offices having jurisdiction over them, on or before the last day of the month immediately following the close of each calendar quarter, each and every name of all buyers and sellers/suppliers of goods and services subject to VAT, to be contained in the "Quarterly Summary List of Sales subject to VAT" and "Quarterly Summary List of Purchases of Goods and Services Subject to VAT". However, operators of supermarkets and department stores, and retailers selling directly to consumers; hotels; restaurants; lending investors; pre-need companies; non-life insurance companies and domestic common carriers (carriage of goods) shall submit only the names of the persons from whom they purchased the subject goods and services to be contained in the Quarterly Summary List of Purchases.
        For computerized VAT taxpayers, the Summary Lists of Sales and Purchases shall be submitted in magnetic form using 3.5-inch floppy diskettes to the Revenue District Office (RDO) having jurisdiction over the place of business of the taxpayer or thru Electronic Data Transmission (EDT) to the National Office Information Systems Operations Service (NOISOS) on or before the last day of the month immediately following the close of the calendar quarter. The list shall conform to the magnetic file format prescribed by the Bureau of Internal Revenue (BIR). EDT shall be used only in the case of taxpayers that have been specifically registered by the BIR for this purpose.
       Computerized VAT taxpayers refer to the taxpayers whoes record-keeping and accounting system on sales and purchases are computerized.

Penalties
  There shall be imposed and collected as part of the tax:
1.

A surcharge of twenty five percent (25%) for each of the ff. violations:

a.

Failure to file any return and pay the amount of tax or installment due on or before the due date;

b.

Unless otherwise authorized by the Commissioner, filing a return with a person or office other than those with whom it is required to be filed;

c.

Failure to pay the full or part of the amount of tax shown on the return, or the full amount of tax due for which no return is required to be filed on or before the due date;

d.

Failure to pay the deficiency tax within the time prescribed for its payment in the notice of assessment.
2.

A surcharge of fifty percent (50%) of the tax or of the deficiency tax, in case any payment has been made on the basis of such return before the discovery of the falsity of fraud, for each of the following violations:

a.

Willful neglect to file the return wihtin the period prescribed by the Code or by rules and regulation; or
b.

In case a false or fraudulent return is willfully made.
3.

Interest at the rate of twenty percent (20%) per annum, or such higher rate as may be prescribed by rules and regulations, on any unpaid amount of tax, from the date prescribed for the payment until the amount is fully paid.

4. Compromise penalty.

Attachments
1. Duly issued Certificate of Creditable VAT Withheld at Source, if applicable;
2. Duly approved Tax Debit Memo, if applicable;
3. Duly approved Tax Compliance Certificate, if applicable;
4. For amended return, proof of the payment and the return previously filed.

 

Note: All background information must be properly filled up.

  • Boxes No. 1 and 2 refer to transaction period and not the date of filing this return
  • The last 3 digits of the 12-digit TIN refers to the branch code.
  • TIN = Tax Identification Number