Salute to all CPAs, auditors and accounting firms out there.
Good day!
Amending the Pertinent Provisions of Revenue Memorandum Circular No. 16-2024 Extending the Deadline of Submission of Alphabetical List of Employees/ Payees from Whom Taxes Were Withheld
Hello, Tax Payers!
Kindly be advised that under Revenue Memorandum Circular No. 29-2024, the deadline of BIR Form No. 2316 is hereby extended from February 28, 2024 to March 31, 2024.
Thank you!
Hi, guys!
As we, RTF Auditing and Accounting Firm celebrates our 5th year Anniversary this coming August 30, we will be having a QnA here on tiktok and facebook.
Take this chance and drop your accounting-related questions! Will answer your questions through a video. 💛💚
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The Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Circular (RMC) No. 52-2023 clarifying the guidelines in optional filing and payment of monthly VAT returns using BIR Form No. 2550M for VAT-registered taxpayers.
VAT registered persons may still choose to file their VAT returns and pay the corresponding VAT liabilities on a monthly basis if they deem so convenient. However, should they choose to the VAT return on a monthly basis, they are still required to file the quarterly VAT return and pay the corresponding VAT liabilities as mandated under the Tax Code.
No penalties shall arise if the taxpayer opts from switching to monthly/quarterly VAT filings and vice versa.
All relevant procedures and guidelines in the use of BIR Form No. 2550M shall continue to apply, except that there is no prescribed deadline for the filing of such form.
Source: www.bir.gov.ph
Bureau of Internal Revenue issued Revenue Memorandum Circular No. 5-2023 regarding the implementation of the quarterly filing of VAT Returns starting January 1, 2023. VAT registered taxpayers are no longer required to file the Monthly VAT Declaration (BIR Form No. 2550M) but will instead file the corresponding Quarterly VAT Returns (BIR Form No. 2550Q) within twenty-five (25) days following the close of each taxable quarter.
