The C.R.E.A.T.E. bill was passed into law on March 26, 2021. In line with the appropriate Revenue Regulation issued as well as changes in electronic filing methods released by the BIR on April 8, 2021, here are the following changes we made in JuanTax to adapt to the C.R.E.A.T.E. law:
1. Transactions Module - You can now enter transactions related to code PT 010 (C.R.E.A.T.E.).
2. 1702RT - With 2 simple clicks before filling out the form, changes to taxes with the C.R.E.A.T.E. law will be automatically adjusted and calculated for you based on the transitory rates provided in the regulation.
3. 2551Q - When you generate Percentage Tax Form 2551Q for the first quarter ending March 31, 2021, all sales transactions will show the new ATC code PT 010 (C.R.E.A.T.E.) bearing the temporary COVID relief measure adjusted rate of 1% (from 3%).