Value-Added Tax is a form of sales tax that is imposed on the sale or exchange of goods and services in the Philippines. Serving as a form of indirect tax, VAT is passed on to the buyer who consumes the product/service.
This kind of tax form can be settled monthly (2550M) and quarterly (2550Q).
Start generating your VAT return by doing the following steps:
In your dashboard, go to Tax Forms, click on Value Added Tax
STEP 2: Proceed to form 2550M/Q, then click the Generate Report icon (+).
STEP 3: Select for the Month and Year of your report then hit Generate
STEP 4: After generating the report, you will automatically be directed to the SLSP Data tab. Start adding transactions by going to the Sales tab and then click on the (+) icon.
Once you’re done adding transactions, you can now start to proceed with the other steps in filing your return. Visit this Help Center article to see the complete steps for processing your tax return using JuanTax.
