Issued last January 13 2023 is the RMC 5-2023 that provide directives on implementation of Republic Act (RA) No. 10963, otherwise known as TRAIN Law relating to VATfiling.
For transaction starting January 01 2023, VAT-registered taxpayers are no longer required to file Monthly VAT return (2550 M).Moreover, compliance with Quarterly VAT (2550 Q) will still be observed.
SOURCE BIR WEBSITE: http://bit.ly/3J1TZjw
