VALUE ADDED TAX RETURN

Instructions:

1. Download file of BIR Form 2550Q Version 2007 at www.bir.gov.ph
2. Input ALL the necessary information in the return (see below).
3. Compute the VAT payable, if any. Disregard any penalty, if any.

Relevant information:

YOU are single, Filipino citizen, and a resident of N. Reyes St., Sampaloc, Manila.

As a VAT-registered taxpayer engaged in trading, the BIR RDO No. 032 Manildewqaa assigned YOU Taxpayer Identification No. 123-456-789-0000.

You made the following transactions during the period April 1, 2020 to June 30, 2020 for the calendar year 2020.

1. VATable sales to regular costumers Php 10,000,000.00
2. Zero-rated sale Php 5,000,000.00
3. Exempt-sale Php 5,000.000.00
4. 1^st quarter VAT return showed an overpayment of Php 100,000.00.
5. Domestic purchase of goods - Php 2,000,000.00
6. Domestic purchase of service Php 2,000,000.00
7. Input tax directly attributable to zero-rated sale which was applied for refund - Php 100,000.00
8. Input tax directly attributable to exempt sale Php 100,000.00
9. VAT payments for the months if April and May amounted to Php 100,000.00