First of all, you have to make sure you’ve completed your company profile. Until you’ve done so, you won’t see the tax filing due cards used to file your tax submissions.
Who needs to file VAT forms?
If you are a VAT registered individual or business, who sells or leases goods or services which are subject to VAT, and if the amount of your actual gross sales/receipts exceeds for up to P3,000,000.00. Then you are required to file VAT forms 2550M and 2550Q.
To know if you’re a VAT registered individual or business, just simply check your COR or Certificate of Registration. If you see Value-Added Tax on the Registered activities. Then you’re a VAT registered entity.
Here’s a link to help you know Which Forms Are You Filing
If you already registered to Taxumo and you want to update your profile to start filing VAT forms, all you need to do is go to the company profile link and check on the 2550M and 2550Q to activate the cards.
If you’re a new user, all you need to do is activate the cards after registering your business details.
The process of submitting a 2550M and a 2550Q is the same as the process to file any other tax forms in Taxumo. All you need to do is enter all the income, expenses, and withheld taxes relevant to the period you want to file. After the appropriate tax due card has appeared on your dashboard, just click on the file button and you’re DONE!
The cards that say “Monthly VAT” correspond to Form 2550M and the cards that say “Quarterly VAT” correspond to Form 2550Q.
The deadline for filing your Monthly and Quarterly VAT forms can be found here
If you have any further questions, do send us a note!