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Revenue Memorandum Circular · RMC

RMC No. 52-2023

To clarify the guidelines for the optional filing and payment of monthly Value-Added Tax (VAT) Returns (BIR Form No. 2550M) by VAT-registered persons.

Bureau of Internal RevenueIndependent research copy
Document type
RMC
Number
52
Year
2023
Text quality
Not specified

Document text

Reference copy · verify against the official source
RMC No. 52-2023 (May 10, 2023) clarifies that although the Tax Code now requires VAT returns to be filed and VAT paid on a quarterly basis, VAT-registered persons may still optionally file and pay monthly using BIR Form No. 2550M, with existing guidelines (RR 16-2005, RR 6-2014, RMC 68-2005) continuing to apply. Switching between monthly (2550M) and quarterly (2550Q) filing does not incur penalties, but quarterly filing and payment must be within 25 days after the close of each taxable quarter; monthly filing of 2550M has no prescribed deadline.