STEP 1: To set up Capital Goods Carryover from the previous year, simply click on Section 17B of your VAT return in JuanTax.
Keep in mind that you can ONLY manually enter an amount for Capital Goods Carryover from the previous year if you are working on the first return period based on your Org Start Date.
For example, your Org Start Date is January 2020, you can ONLY manually enter the amount for Capital Goods Carryover from the previous year when you generate your 2550M for January 2020.
NOTE: This screenshot is from a 2550M (line number 17B) tax form.
STEP 2: Fill out the form with the necessary information such as Date of purchase, amount, description of capital goods, and Estimated useful life (max of 60 months). Hit the Save button to proceed.
STEP 3: This will then reflect on your VAT return’s Section 17 under 17B.
NOTE: This screenshot is from a 2550Q (line number 17B) tax form.
You can also check this blog to read more about the Updated Rule on Amortization of Input VAT on Capital Goods based on TRAIN Law (RR No. 13-2018).