Under the TRAIN Law, beginning January 1, 2023, the filing and payment of VAT returns (BIR Form 2550Q) are to be done within 25 days from the close of each taxable quarter. VAT-registered taxpayers are no longer required to file the Monthly VAT Declaration (BIR Form 2550M) for transactions starting January 1, 2023.
To avoid confusion during the initial implementation of this new rule, particularly for taxpayers under the fiscal period, the Circular provides the following transitory provisions:
| Quarter Ending | Transactions Covering Month of | Filing of 2550Q for Quarter Ending | ||||
| Dec 2022 | Jan 2023 | Feb 2023 | Dec 2022 | Jan 2023 | Feb 2023 | |
| Jan. 31, 2023 | File 2550M not later than Jan. 20, 2023 |
N/A | Not required to file 2550M |
N/A | Required to file 2550Q not later than Feb. 27, 2023 |
N/A |
| Feb. 28, 2023 | File 2550M not later than Jan. 20, 2023 |
Not required to file 2550M |
N/A | N/A | N/A | Required to file 2550Q not later than March 27, 2023 |
| March 31, 2023 | N/A | Not required to file 2550M |
Not required to file 2550M |
File 2550Q not later than Jan. 25, 2023 |
N/A | N/A |