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How to Complete Schedule 3 inside VAT Return
How to Complete Schedule 3 inside VAT Return

Learn more about filling out Schedule 3 inside the VAT return in JuanTax

Maui Banag avatar
Written by Maui Banag
Updated over a week ago

When the net amount of your purchases or imports of capital goods exceeds 1 million pesos, a banner with the Schedule 3 button automatically appears.

STEP 1: To start, simply fill out the form with the necessary information and then click the Save button.

STEP 2: This will then reflect on your VAT return’s Schedule 3.

NOTE: This screenshot is from a 2550M (line number 18C/D) tax form.

STEP 3: To view the summary of all your capital goods, along with the Amount, Balance of Input Tax, and Remaining Life, go to the Amortization tab.


Important Reminder:

On January 13, 2023, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 5-2023. This declares the removal of BIR Form 2550-M and states that taxpayers registered for value-added tax (VAT) are no longer required to file a monthly VAT declaration (BIR Form No. 2550-M) for transactions starting January 1, 2023, and must instead file the corresponding quarterly value-added tax return (BIR Form 2550-Q) within twenty-five (25) days following the close of each taxable quarter when the transaction occurred.

The table below is also included in this RMC to assist taxpayers.

The full version of this issuance is available on the BIR website.


What happens if I'm a Juantax user?

We have added a banner to the tax form 2550M/Q to remind VAT-registered users about the BIR announcement.

As you can see, the drop-down menu now only displays the quarterly filing months. The complete list of months previously shown has now been removed.

If you have any further questions, please contact us via email or by clicking the chat icon in the lower-right corner of any JuanTax page, and we'll be happy to assist! 💬


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