All About BIR Form 2550M

All About BIR Form 2550M
PUBLISHED: May 28, 2021
BIR Form 2550M

BIR Form 2550M or the Monthly Value-Added Tax Declaration is a form imposed on sales goods and services. An indirect tax (VAT) that is passed to the buyers who consumes the products and services.

VAT or Value Added Tax is an indirect tax which is passed to the buyer who consumes the goods or services.

This form shall be filed in triplicate by the following taxpayers;

  1. VAT-registered person; and
  2. Person required to register as a VAT taxpayer but failed to register.

Also, individuals and businesses who sell goods or services which are subject to VAT, and if the total amount of their actual gross sales exceeds up to ₱3,000,000.00.

For Manual Filling, BIR Form 2550M shall be submitted not later than the 20th day following the close of the month.

And for EFPS Filling, below are the schedule set forth in RR No. 26-2002:

    1. Group A: Twenty-five (25) days following end of the month
    2. Group B: Twenty-four (24) days following end of the month
    3. Group C: Twenty-three (23) days following end of the month
    4. Group D: Twenty-two (22) days following end of the month
    5. Group E: Twenty-one (21) days following end of the month

Updated BIR Form 2550M Sample

BIR Form 2550M

This form sample can be generated through QNE Accounting System.

In QNE Optimum Accounting System, BIR Form 2550M, BIR Form 2307 and other BIR Forms and Reports can be easily generated when the company records the Billing Statements, Purchase Invoices or in Payment Vouchers or Bills. QNE Accounting System also provides accurate values that allows the company or individual to have more time in other tasks. QNE Accounting System will greatly help you prepare your BIR Forms ahead of your deadlines!

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