Difference between revisions of "Pro BIR Form 2550M"

(Created page with "{{DISPLAYTITLE:BIR Form 2550M}} == BIR Form 2550M == '''BIR Form 2550M''' <span style="color: rgb(51, 51, 51)">refers to the Monthly Value-Added Tax Declaration of the Compan...")
 
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{{DISPLAYTITLE:BIR Form 2550M}}
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{{DISPLAYTITLE:BIR Form 2550M}}<div style="text-align: center;">[[Pro BIR Form 2550M]] | [[Pro Sales|Sales]] | [[Pro Purchase|Purchase]] | [[Pro Bank|Bank]] | [[Pro Chart of Account|Chart of Account]] | [[Pro Tax|Tax]] | [[Pro BIR Form 2550M Job Aids|BIR Form 2550M Job Aids]]</div><br />
 
+
==BIR Form 2550M==
== BIR Form 2550M ==
 
 
'''BIR Form 2550M''' <span style="color: rgb(51, 51, 51)">refers to the Monthly Value-Added Tax Declaration of the Company. It is a form of sales tax which is imposed on sales or exchange of goods and services in the Philippines in a monthly basis.</span>
 
'''BIR Form 2550M''' <span style="color: rgb(51, 51, 51)">refers to the Monthly Value-Added Tax Declaration of the Company. It is a form of sales tax which is imposed on sales or exchange of goods and services in the Philippines in a monthly basis.</span>
 
[[File:Pro BIR Form 2550M.png|center|thumb|2203x2203px|BIR Form 2550M]]
 
[[File:Pro BIR Form 2550M.png|center|thumb|2203x2203px|BIR Form 2550M]]
Line 19: Line 18:
 
Number of Attached Sheets declared when submitting the BIR Form 2550M
 
Number of Attached Sheets declared when submitting the BIR Form 2550M
  
* Number of sheets is needed when filing E-BIR and EFPS
+
*Number of sheets is needed when filing E-BIR and EFPS
 
|- style="box-sizing: inherit;"
 
|- style="box-sizing: inherit;"
 
| colspan="2" style="vertical-align:middle;text-align:center;" |'''Part I - Background Information'''
 
| colspan="2" style="vertical-align:middle;text-align:center;" |'''Part I - Background Information'''
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| style="" |For Total Sales Receipt for the Month
 
| style="" |For Total Sales Receipt for the Month
  
* Total Sales from Item 12 to 15
+
*Total Sales from Item 12 to 15
  
 
For Output Tax Due for the Month
 
For Output Tax Due for the Month
  
* Total Output Tax from Item 12 and 13
+
*Total Output Tax from Item 12 and 13
 
|- style="box-sizing: inherit;"
 
|- style="box-sizing: inherit;"
 
| style="" |17. '''Less: Allowable Input Tax'''
 
| style="" |17. '''Less: Allowable Input Tax'''
 
| style="" |List of Allowable Input Tax to be deducted
 
| style="" |List of Allowable Input Tax to be deducted
  
* 17A Input Tax Carried Over from Previous Period
+
*17A Input Tax Carried Over from Previous Period
* 17B <span class="ve-pasteProtect" style="color: rgb(51, 51, 51)" data-ve-attributes="{&quot;style&quot;:&quot;color: rgb(51, 51, 51)&quot;}">Input Tax Deferred on Capital Goods Exceeding P1Million from Previous Period</span>
+
*17B <span class="ve-pasteProtect" style="color: rgb(51, 51, 51)" data-ve-attributes="{&quot;style&quot;:&quot;color: rgb(51, 51, 51)&quot;}">Input Tax Deferred on Capital Goods Exceeding P1Million from Previous Period</span>
* 17C Transitional Input Tax
+
*17C Transitional Input Tax
* 17D Presumptive Input Tax
+
*17D Presumptive Input Tax
* 17E Others
+
*17E Others
* 17F Total (Sum of Item 17A, 17B, 17C, 17D & 17E)
+
*17F Total (Sum of Item 17A, 17B, 17C, 17D & 17E)
 
|- style="box-sizing: inherit;"
 
|- style="box-sizing: inherit;"
 
| style="" |18. '''Current Transactions'''
 
| style="" |18. '''Current Transactions'''
 
| style="" |
 
| style="" |
* '''18A/B Purchase of Capital Goods not exceeding P1Million (Schedule 2)''' - amount of input tax for Capital Goods Purchases that will not exceed to 1 Million Pesos.
+
*'''18A/B Purchase of Capital Goods not exceeding P1Million (Schedule 2)''' - amount of input tax for Capital Goods Purchases that will not exceed to 1 Million Pesos.
* '''18C/D Purchase of Capital Goods exceeding P1Million (Schedule 2)''' - Input Tax value of Purchased Capital Goods to be defer that exceeds 1 Million Pesos.
+
*'''18C/D Purchase of Capital Goods exceeding P1Million (Schedule 2)''' - Input Tax value of Purchased Capital Goods to be defer that exceeds 1 Million Pesos.
* '''18E/F Domestic Purchases of Goods other than capital goods''' - Input Tax Value for Domestic Purchases of Goods excluding the Capital Goods.
+
*'''18E/F Domestic Purchases of Goods other than capital goods''' - Input Tax Value for Domestic Purchases of Goods excluding the Capital Goods.
* '''18G/H Importation of Goods Other than Capital Goods''' - Input Tax Value for Importation of Goods excluding the Capital Goods.
+
*'''18G/H Importation of Goods Other than Capital Goods''' - Input Tax Value for Importation of Goods excluding the Capital Goods.
* '''18I/J Domestic Purchases of Services''' - Input Tax for Purchases of Services.
+
*'''18I/J Domestic Purchases of Services''' - Input Tax for Purchases of Services.
* '''18K/L Services rendered by Non-residents''' - Input Tax of Services rendered from foreign individuals.
+
*'''18K/L Services rendered by Non-residents''' - Input Tax of Services rendered from foreign individuals.
* '''18M Purchases Not Qualified for Input Tax''' - Any purchases that does not applied to any input tax.
+
*'''18M Purchases Not Qualified for Input Tax''' - Any purchases that does not applied to any input tax.
* '''18N/O Others''' - Any declared miscellaneous transactions.
+
*'''18N/O Others''' - Any declared miscellaneous transactions.
* '''18P Total Current Purchases (Sum of item 18A,18C,18E,18G,18I,18K,18M&18N)''' - Overall Total of Current Declared Transactions
+
*'''18P Total Current Purchases (Sum of item 18A,18C,18E,18G,18I,18K,18M&18N)''' - Overall Total of Current Declared Transactions
 
|- style="box-sizing: inherit;"
 
|- style="box-sizing: inherit;"
 
| style="" |19. '''Total Available Input Tax'''(Sum of Item 17F, 18B, 18D, 18F, 18H, 18J, 18L,&18O)
 
| style="" |19. '''Total Available Input Tax'''(Sum of Item 17F, 18B, 18D, 18F, 18H, 18J, 18L,&18O)
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| style="" |20. '''Less: Deductions from Input Tax'''
 
| style="" |20. '''Less: Deductions from Input Tax'''
 
| style="" |
 
| style="" |
* '''20A Input Tax on Purchases of Capital Goods exceeding P1Million deferred for succeeding period (Schedule 3)''' - Any Tax to be applied for Capital Good Expenses that will be carry over for the next set of periods
+
*'''20A Input Tax on Purchases of Capital Goods exceeding P1Million deferred for succeeding period (Schedule 3)''' - Any Tax to be applied for Capital Good Expenses that will be carry over for the next set of periods
* '''20B Input Tax on Sale to Govt. closed to expense (Schedule 4)''' - Any Tax applied to the Sale to Government
+
*'''20B Input Tax on Sale to Govt. closed to expense (Schedule 4)''' - Any Tax applied to the Sale to Government
* '''20C Input Tax allocable to Exempt Sales (Schedule 4)''' - Tax Value for Exempt Sales
+
*'''20C Input Tax allocable to Exempt Sales (Schedule 4)''' - Tax Value for Exempt Sales
* '''20D VAT Refund/TCC claimed''' - any Value Added Tax Refund to be claimed
+
*'''20D VAT Refund/TCC claimed''' - any Value Added Tax Refund to be claimed
* '''20E Others''' - Any declared miscellaneous Tax Applied
+
*'''20E Others''' - Any declared miscellaneous Tax Applied
* '''20F Total (Sum of Item 20A, 20B,20C,20D & 20E)''' - Total Amount of Input Tax to be Deducted
+
*'''20F Total (Sum of Item 20A, 20B,20C,20D & 20E)''' - Total Amount of Input Tax to be Deducted
 
|- style="box-sizing: inherit;"
 
|- style="box-sizing: inherit;"
 
| style="" |21. '''Total Allowable Input Tax (Item 19 less Item 20F)'''
 
| style="" |21. '''Total Allowable Input Tax (Item 19 less Item 20F)'''
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| style="" |23. '''Less: Tax Credits/Payments'''
 
| style="" |23. '''Less: Tax Credits/Payments'''
 
| style="" |
 
| style="" |
* '''23A Creditable Value-Added Tax Withheld (Schedule 6)''' - Creditable withholding tax is an advance income tax of the payee. This would mean that even before filing the income tax return in the Philippines, the taxpayer had already remitted portion of its income tax liability through the payor who withheld and remitted the same to the BIR.
+
*'''23A Creditable Value-Added Tax Withheld (Schedule 6)''' - Creditable withholding tax is an advance income tax of the payee. This would mean that even before filing the income tax return in the Philippines, the taxpayer had already remitted portion of its income tax liability through the payor who withheld and remitted the same to the BIR.
* '''23B Advance Payments for Sugar and Flour Industries (Schedule 7)''' - Any tax to be paid in advance for Sugar and Flour Industries
+
*'''23B Advance Payments for Sugar and Flour Industries (Schedule 7)''' - Any tax to be paid in advance for Sugar and Flour Industries
* '''23C VAT Withheld on Sales to Government (Schedule 8)''' - Any Value added Tax Credits withheld on Sales to Government
+
*'''23C VAT Withheld on Sales to Government (Schedule 8)''' - Any Value added Tax Credits withheld on Sales to Government
* '''23D VAT paid in return previously filed, if this is an amended return''' - Value added Tax paid in case the form to be submitted is for an Amended Return
+
*'''23D VAT paid in return previously filed, if this is an amended return''' - Value added Tax paid in case the form to be submitted is for an Amended Return
* '''23D Advance Payments made (please attach proof of payments - BIR Form No. 0605)''' - Any Advance payments applied based from BIR Form 0605
+
*'''23D Advance Payments made (please attach proof of payments - BIR Form No. 0605)''' - Any Advance payments applied based from BIR Form 0605
* '''23F Others'''
+
*'''23F Others'''
* '''23G Total Tax Credits/Payments (Sum of Item 23A,23B,23C,23D,23E & 23F)''' - Total Tax Credits to be deducted
+
*'''23G Total Tax Credits/Payments (Sum of Item 23A,23B,23C,23D,23E & 23F)''' - Total Tax Credits to be deducted
 
|- style="box-sizing: inherit;"
 
|- style="box-sizing: inherit;"
 
| style="" |24. '''Tax Still Payable/(Overpayment)(Item 22 less Item 23G)'''
 
| style="" |24. '''Tax Still Payable/(Overpayment)(Item 22 less Item 23G)'''
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| style="" |Penalties to be applied if any
 
| style="" |Penalties to be applied if any
  
* '''Surcharge(25A)'''
+
*'''Surcharge(25A)'''
* '''Interest(25B)'''
+
*'''Interest(25B)'''
* '''Compromise(25C)'''
+
*'''Compromise(25C)'''
* '''Total Penalties(25D)'''
+
*'''Total Penalties(25D)'''
 
|- style="box-sizing: inherit;"
 
|- style="box-sizing: inherit;"
 
| style="" |26. <span class="ve-pasteProtect" style="color: rgb(51, 51, 51)" data-ve-attributes="{&quot;style&quot;:&quot;color: rgb(51, 51, 51)&quot;}">'''Total Amount Payable/(Overpayment) (Sum of Item 24 & 25D)'''</span>
 
| style="" |26. <span class="ve-pasteProtect" style="color: rgb(51, 51, 51)" data-ve-attributes="{&quot;style&quot;:&quot;color: rgb(51, 51, 51)&quot;}">'''Total Amount Payable/(Overpayment) (Sum of Item 24 & 25D)'''</span>
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| style="" |President /Vice President/Principal Officer/Accredited Tax Agent/Authorized Representative/ Tax Payer Details
 
| style="" |President /Vice President/Principal Officer/Accredited Tax Agent/Authorized Representative/ Tax Payer Details
  
* '''Title/Position of Signatory'''
+
*'''Title/Position of Signatory'''
* '''Tin of Signatory'''
+
*'''Tin of Signatory'''
* '''Tax Agent Acc# / Atty's Roll #. (if applicable)'''
+
*'''Tax Agent Acc# / Atty's Roll #. (if applicable)'''
* '''Date of Issue'''
+
*'''Date of Issue'''
* '''Date of Expiry'''
+
*'''Date of Expiry'''
 
|- style="box-sizing: inherit;"
 
|- style="box-sizing: inherit;"
 
| style="" |28. '''Treasurer/Assistant Treasurer''' (Signature Over Printed Name)
 
| style="" |28. '''Treasurer/Assistant Treasurer''' (Signature Over Printed Name)
 
| style="" |Treasurer/Assistant Treasurer details
 
| style="" |Treasurer/Assistant Treasurer details
  
* '''Treasurer/Assistant Treasurer'''
+
*'''Treasurer/Assistant Treasurer'''
* '''Title/Position of Signatory'''
+
*'''Title/Position of Signatory'''
* '''TIN of Signatory'''
+
*'''TIN of Signatory'''
 
|}
 
|}
 
Notes:
 
Notes:
  
* Grey fields are auto-generated and will automatically adjust based on the input of the user.
+
*Grey fields are auto-generated and will automatically adjust based on the input of the user.
 +
*For detailed instructions on how to generate the form. The user may visit the BIR Form 2550M Job Aids which can be found [[BIR Form 2550M|here]]
  
 
<br />
 
<br />
 +
{| class="wikitable" style="box-sizing: inherit; border-collapse: collapse; border-spacing: 0px; background-color: rgb(248, 249, 250); font-size: 14px; color: rgb(34, 34, 34); margin: 1em 0px; border: 1px solid rgb(162, 169, 177); font-family: &quot;Open Sans&quot;, Roboto, arial, sans-serif; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"
 +
|+ style="box-sizing: inherit; padding-top: 8px; padding-bottom: 8px; color: rgb(119, 119, 119); text-align: left; font-weight: bold;" |Categories:
 +
! colspan="2" style="background-color:rgb(234, 236, 240);text-align:center;" |'''Reports'''
 +
|- style="box-sizing: inherit;"
 +
| style="" |Tax Report
 +
| style="" |[[Pro Sales Journal|Sales Journal]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro Purchase Journal|Purchase Journal]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro Receipt Journal|Receipt Journal]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro Discount Senior and PWD|Discount Senior and PWD]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro Disbursement Journal|Disbursement Journal]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro BIR Form 0605|BIR Form 0605]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro BIR Form 0619E|BIR Form 0619E]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro BIR Form 2550M|BIR Form 2550M]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro BIR Form 2550Q|BIR Form 2550Q]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro BIR Form 2551M|BIR Form 2551M]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro BIR Form 2551Q|BIR Form 2551Q]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro BIR Form 1601E|BIR Form 1601E]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro BIR Form 1601EQ|BIR Form 1601EQ]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro BIR Form 1604E|BIR Form 1604E]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro Sales Relief|Sales Relief]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro Purchase Relief|Purchase Relief]]
 +
|- style="box-sizing: inherit;"
 +
! colspan="2" style="background-color:rgb(234, 236, 240);text-align:center;" |'''Reports Job Aid Aids'''
 +
|- style="box-sizing: inherit;"
 +
| style="" |Tax Report
 +
| style="" |[[Pro Sales Journal Job Aids|Sales Journal Job Aids]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro Purchase Journal Job Aids|Purchase Journal Job Aids]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro Receipt Journal Job Aids|Receipt Journal Job Aids]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro Discount Senior and PWD Job Aids|Discount Senior and PWD Job Aids]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro Disbursement Journal Job Aids|Disbursement Journal Job Aids]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro BIR Form 0605 Job Aids|BIR Form 0605 Job Aids]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro BIR Form 0619E Job Aids|BIR Form 0619E Job Aids]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro BIR Form 1601E Job Aids|BIR Form 1601E Job Aids]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro BIR Form 1601EQ Job Aids|BIR Form 1601EQ Job Aids]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro BIR Form 1604E Job Aids|BIR Form 1604E Job Aids]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro Sales Relief Job Aids|Sales Relief Job Aids]] <span style="color: rgb(34, 34, 34)"><nowiki>|</nowiki></span> [[Pro Purchase Relief Job Aids|Purchase Relief Job Aids]]
 +
|- style="box-sizing: inherit;"
 +
! colspan="2" style="background-color:rgb(234, 236, 240);text-align:center;" |'''Modules'''
 +
|- style="box-sizing: inherit;"
 +
| style="" |Sales
 +
| style="" |[[Pro Sales|Sales]]<nowiki> | </nowiki>[[Pro Sales and Service Invoice|Sales and Service Invoice]]<nowiki> | </nowiki>[[Pro Receive Payments|Receive Payments]]
 +
|-
 +
|Purchase
 +
|[[Pro Purchase|Purchase]]<nowiki> | </nowiki>[[Pro Purchase Order|Purchase Order]]<nowiki> | </nowiki>[[Pro Issue Payment]]
 +
|-
 +
|Journal
 +
|[[Pro Journal|Journal]]<nowiki> | </nowiki>[[Pro Journal Voucher|Journal Voucher]]
 +
|- style="box-sizing: inherit;"
 +
| style="" |Maintenance
 +
| style="" |[[Pro Bank|Bank]]<nowiki> | </nowiki>[[Pro Chart of Account|Chart of Account]]<nowiki> | </nowiki>[[Pro Tax|Tax]]
 +
|- style="box-sizing: inherit;"
 +
| colspan="2" style="vertical-align:middle;text-align:center;" |'''Job Aid Modules'''
 +
|-
 +
|Sales
 +
|[[Oojeema Pro Sales Job Aids|Sales Job Aids]]
 +
|-
 +
|Purchase
 +
|[[Oojeema Pro Purchase Job Aids|Purchase Job Aids]]
 +
|- style="box-sizing: inherit;"
 +
| style="" |Journal
 +
| style="" |[[Oojeema Pro Journal Job Aids|Journal Job Aids]]
 +
|- style="box-sizing: inherit;"
 +
| style="" |Maintenance Aids
 +
| style="" |[[Pro Bank|Bank]]<nowiki> | </nowiki>[[Oojeema Pro Chart of Accounts Job Aids|Chart of Accounts Job Aids]]<nowiki> | </nowiki>[[Oojeema Pro Tax Job Aids|Tax Job Aids]]
 +
|}<br />

Revision as of 10:25, 31 August 2021


BIR Form 2550M

BIR Form 2550M refers to the Monthly Value-Added Tax Declaration of the Company. It is a form of sales tax which is imposed on sales or exchange of goods and services in the Philippines in a monthly basis.

BIR Form 2550M
BIR Form 2550M Terms on Oojeema Pro System
Fields Descriptions/Remarks
1. Month/Year Month and Year when the BIR Form 2550M is issued.
2. Amended Return Amended Return is filed to make corrections, additions or omissions to returns already declared, provided they have not yet been issued letters of authority from the BIR.
3. Number of Sheets (Optional)

Number of Attached Sheets declared when submitting the BIR Form 2550M

  • Number of sheets is needed when filing E-BIR and EFPS
Part I - Background Information
4. TIN Tax Identification Number of the Company/Branch
5. RDO Code Regional District Office Code is a three-digit numeric or alphanumeric code assigned to each RDO in the country. The BIR uses these codes for tracking the amount of tax collection within a particular region, as well as recording and processing tax returns, tax payments, and withholding taxes.
6. Line of Business Nature of Business of the Company
7. Tax Payer's Name Registered Name for Non-Individual(Company) and Whole name for Individual
8. Telephone Number Contact Number of the Tax Payer
9. Registered Address The registered Address of the Tax Payer.
10. Zip Code Zip Code of the Tax Payer. This is depending on the registered address of the Tax Payer
11. Tax Relief (Optional)

Tax relief is any government program or policy initiative that is designed to reduce the amount of taxes paid by individuals or businesses. This can be under: Special Law or International Tax Treaty.

Part II - Computation of Tax
12. Vatable Sales/Receipt-Private (Schedule 1)

Sales that the business will have to charge VAT on if it is registered for VAT.

13. Sales To Government VAT transactions applied to the Government
14. Zero Rated Sales/Receipts Sales that does not impose any VAT
15. Exempt Sales/Receipts Sales that does not impose any VAT
16. Total Sales/Receipts and Output Tax Due For Total Sales Receipt for the Month
  • Total Sales from Item 12 to 15

For Output Tax Due for the Month

  • Total Output Tax from Item 12 and 13
17. Less: Allowable Input Tax List of Allowable Input Tax to be deducted
  • 17A Input Tax Carried Over from Previous Period
  • 17B Input Tax Deferred on Capital Goods Exceeding P1Million from Previous Period
  • 17C Transitional Input Tax
  • 17D Presumptive Input Tax
  • 17E Others
  • 17F Total (Sum of Item 17A, 17B, 17C, 17D & 17E)
18. Current Transactions
  • 18A/B Purchase of Capital Goods not exceeding P1Million (Schedule 2) - amount of input tax for Capital Goods Purchases that will not exceed to 1 Million Pesos.
  • 18C/D Purchase of Capital Goods exceeding P1Million (Schedule 2) - Input Tax value of Purchased Capital Goods to be defer that exceeds 1 Million Pesos.
  • 18E/F Domestic Purchases of Goods other than capital goods - Input Tax Value for Domestic Purchases of Goods excluding the Capital Goods.
  • 18G/H Importation of Goods Other than Capital Goods - Input Tax Value for Importation of Goods excluding the Capital Goods.
  • 18I/J Domestic Purchases of Services - Input Tax for Purchases of Services.
  • 18K/L Services rendered by Non-residents - Input Tax of Services rendered from foreign individuals.
  • 18M Purchases Not Qualified for Input Tax - Any purchases that does not applied to any input tax.
  • 18N/O Others - Any declared miscellaneous transactions.
  • 18P Total Current Purchases (Sum of item 18A,18C,18E,18G,18I,18K,18M&18N) - Overall Total of Current Declared Transactions
19. Total Available Input Tax(Sum of Item 17F, 18B, 18D, 18F, 18H, 18J, 18L,&18O) Total Input Tax based from Total Allowable Input Tax(17F) and Items 18B, 18D, 18F, 18H, 18J, 18L and 18O.
20. Less: Deductions from Input Tax
  • 20A Input Tax on Purchases of Capital Goods exceeding P1Million deferred for succeeding period (Schedule 3) - Any Tax to be applied for Capital Good Expenses that will be carry over for the next set of periods
  • 20B Input Tax on Sale to Govt. closed to expense (Schedule 4) - Any Tax applied to the Sale to Government
  • 20C Input Tax allocable to Exempt Sales (Schedule 4) - Tax Value for Exempt Sales
  • 20D VAT Refund/TCC claimed - any Value Added Tax Refund to be claimed
  • 20E Others - Any declared miscellaneous Tax Applied
  • 20F Total (Sum of Item 20A, 20B,20C,20D & 20E) - Total Amount of Input Tax to be Deducted
21. Total Allowable Input Tax (Item 19 less Item 20F) Remaining Available Input Tax based from the Total Input Tax Less the deductions Declared from input tax.
22. Net VAT Payable (Item 16B less Item 21) Net Amount of Value Added Tax Payable based from Total Sales/Receipts and Output Tax Due less the Total Allowable Input Tax.
23. Less: Tax Credits/Payments
  • 23A Creditable Value-Added Tax Withheld (Schedule 6) - Creditable withholding tax is an advance income tax of the payee. This would mean that even before filing the income tax return in the Philippines, the taxpayer had already remitted portion of its income tax liability through the payor who withheld and remitted the same to the BIR.
  • 23B Advance Payments for Sugar and Flour Industries (Schedule 7) - Any tax to be paid in advance for Sugar and Flour Industries
  • 23C VAT Withheld on Sales to Government (Schedule 8) - Any Value added Tax Credits withheld on Sales to Government
  • 23D VAT paid in return previously filed, if this is an amended return - Value added Tax paid in case the form to be submitted is for an Amended Return
  • 23D Advance Payments made (please attach proof of payments - BIR Form No. 0605) - Any Advance payments applied based from BIR Form 0605
  • 23F Others
  • 23G Total Tax Credits/Payments (Sum of Item 23A,23B,23C,23D,23E & 23F) - Total Tax Credits to be deducted
24. Tax Still Payable/(Overpayment)(Item 22 less Item 23G) Remaining Tax Payable base from Net VAT Payable less the Tax Credits Applied.
25. Penalties Penalties to be applied if any
  • Surcharge(25A)
  • Interest(25B)
  • Compromise(25C)
  • Total Penalties(25D)
26. Total Amount Payable/(Overpayment) (Sum of Item 24 & 25D) Total Payable base from Tax Payable and Penalties.
27. President/Vice President/Principal Officer/Accredited Tax Agent/Authorized Representative/Taxpayer. (Signature Over Printed Name) President /Vice President/Principal Officer/Accredited Tax Agent/Authorized Representative/ Tax Payer Details
  • Title/Position of Signatory
  • Tin of Signatory
  • Tax Agent Acc# / Atty's Roll #. (if applicable)
  • Date of Issue
  • Date of Expiry
28. Treasurer/Assistant Treasurer (Signature Over Printed Name) Treasurer/Assistant Treasurer details
  • Treasurer/Assistant Treasurer
  • Title/Position of Signatory
  • TIN of Signatory

Notes:

  • Grey fields are auto-generated and will automatically adjust based on the input of the user.
  • For detailed instructions on how to generate the form. The user may visit the BIR Form 2550M Job Aids which can be found here


Categories:
Reports
Tax Report Sales Journal | Purchase Journal | Receipt Journal | Discount Senior and PWD | Disbursement Journal | BIR Form 0605 | BIR Form 0619E | BIR Form 2550M | BIR Form 2550Q | BIR Form 2551M | BIR Form 2551Q | BIR Form 1601E | BIR Form 1601EQ | BIR Form 1604E | Sales Relief | Purchase Relief
Reports Job Aid Aids
Tax Report Sales Journal Job Aids | Purchase Journal Job Aids | Receipt Journal Job Aids | Discount Senior and PWD Job Aids | Disbursement Journal Job Aids | BIR Form 0605 Job Aids | BIR Form 0619E Job Aids | BIR Form 1601E Job Aids | BIR Form 1601EQ Job Aids | BIR Form 1604E Job Aids | Sales Relief Job Aids | Purchase Relief Job Aids
Modules
Sales Sales | Sales and Service Invoice | Receive Payments
Purchase Purchase | Purchase Order | Pro Issue Payment
Journal Journal | Journal Voucher
Maintenance Bank | Chart of Account | Tax
Job Aid Modules
Sales Sales Job Aids
Purchase Purchase Job Aids
Journal Journal Job Aids
Maintenance Aids Bank | Chart of Accounts Job Aids | Tax Job Aids