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  • Monthly Value-added Tax Declaration - Bureau Of Internal Revenue - Ftp Bir Gov

Get Monthly Value-added Tax Declaration - Bureau Of Internal Revenue - Ftp Bir Gov

(To be filled up by the BIR) DLN: PSIC: BIR Form No. Monthly Value-Added Tax Kawanihan ng Rentas Internas Declaration Republika ng Pilipinas 2550M Kagawaran ng Pananalapi Fill in all applicable spaces.

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The government collects a 12% VAT on goods consumed within the Southeast Asian country.

VAT = Vatable Sales x 1.12. Total Sales = Vatable Sales + VAT.

The Monthly Value-Added Tax Declaration or BIR Form 2550m is used simply to file monthly VAT. Individuals who may get their hands on this form are those who are VAT-registered in selling or leasing goods or services. These individuals must have an actual gross sales/receipts exceeding up to P3,000,000.

The standard VAT rate, which applies to most supplies of goods, properties and services, is 12 percent of the gross selling price or gross value. The purchase of goods, properties or services by the government or government controlled corporations is generally subject to a 5 percent final withholding tax on VAT.

Determine the tax, in the form of Value-Added Tax (VAT), and the Vatable Sales....Here's how: Vatable Sales = Total Sales/ 1.12. VAT = Vatable Sales x 1.12. Total Sales = Vatable Sales + VAT.

What is this form? BIR Form 2550M, or also known as Monthly Value-Added Tax Declaration is a form of sales tax which is imposed on sales or exchange of goods and services in the Philippines. Serving as a form of indirect tax, VAT is passed on to the buyer which consumes the product/service.

The bill, as amended, entitles tourists to a refund of the VAT paid for goods purchased worth at least PHP3,000 per transaction from accredited retailers. It defines a tourist as “a foreign passport holder, who is a non-resident individual not engaged in trade or business in the Philippines.”

Services of banks, non-bank financial intermediaries performing quasi-banking functions, and other non-bank financial intermediaries. Sale or lease of goods and services to senior citizens and persons with disabilities.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232