On Quarterly VAT

[firnnauriel]

Good day. I hope someone can answer me.

I would like to know if it is possible that a company has to pay VAT even when its quarterly sales are low? Or to be more specifically, if the Output VAT is lower that the Input VAT, would you still have to pay VAT?

I am not an accountant, I'm an IT person. Please enlighten me on this.

Thank you very much.

[bizaid]

you dont pay, but you are still required to file the related BIR Return.

Regards,
Albert


BIZAIDTEAM
Online Bookkeepers
Skype/YM: bizaid.cebu
http://bizaid.tk/

Good day. I hope someone can answer me.

I would like to know if it is possible that a company has to pay VAT even when its quarterly sales are low? Or to be more specifically, if the Output VAT is lower that the Input VAT, would you still have to pay VAT?

I am not an accountant, I'm an IT person. Please enlighten me on this.

Thank you very much.

[firnnauriel]

Thank you for the respone. Sorry, just recently checked this site again.

I visitid BIR twice just to clarify things about that. Again, thanks.

[neo]

query on 2550M, we export goods to outside the Philippines, how do we compute for sales? since the proforma invoice we use is in US$. thanks a lot in advance.

[bizaid]

convert it to pesos by using the exchange rate (USD/PHP) on the date of your invoice(s).

BIZAIDTEAM CEBU CITY
info@bizaidnow.com

query on 2550M, we export goods to outside the Philippines, how do we compute for sales? since the proforma invoice we use is in US$. thanks a lot in advance.