What changed in JuanTax?
1. Enter sales transactions as they appear in the sales transaction module.
2. For Standard Users
a. Enter sales transactions as they appear in the sales transaction module.
b. BIR Form 2307 - This can be used as proof by VAT taxpayers in claiming VAT credit during their monthly and quarterly VAT declarations.
c. Generate your Monthly / Quarterly VAT - PDF
3. For Plus Users
a. Do the same as above (1 and 2)
b. Mark it as paid, with withholding
c. Generate your Monthly/Quarterly
The user is no longer required to complete the data for Input Tax Attributable to Sales to Government before they are allowed to file.
With the new amendments, the button for Schedule 4 has been removed, and you will no longer see this banner.
With the update aligned to the RMC 36-2021, upon generating the monthly or quarterly VAT return, lines 23C for 2550M and 26D for 2550Q are now editable.
After clicking either of the lines under the Summary Tab, JuanTax would show all available 2307s that have alphanumeric tax code WV010 (goods) or WV020 (services)
Both ATC are sales to government codes that are only to be applied as creditable for VAT returns
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! 💬
Please check this Help Center article if you are entering VAT on Sales to Government for Periods 2020 and Older.
To read more about the RMC 36-2021, you may check our blog.