Philippines VAT Report: Quarterly Return Form 2500Q

Note:

This topic is for NetSuite accounts that use the Country Tax Report page to generate the Philippines quarterly VAT report. If you are using the Tax Reports (International) page, see What goes into each box -Philippines VAT report.

With Tax Reporting Framework , you can generate the Philippines quarterly VAT2500Q report. To generate a report, see Generating Localized Country Tax Reports.

The SuiteTax Country Tax Reports APAC SuiteApp provides the tax report template and tax report localization for Philippines. You must install this SuiteApp to have Philippines tax reports available on the Country Tax Report page. For more information about the required SuiteApps for each country tax reports, see Tax Reporting Framework Localization Requirements.

The following tables describe the reported values on the Philippines quarterly VAT report. It also shows the Search Type, Transaction Types, Tax Codes, Tax Transaction Types, Tax Item Types, and Tax Reporting Category filters that Tax Reporting Framework uses to get the values for each of the boxes on the report. These filters are automatically set up but can be modified. If you want to customize the report and configure the filters, see Customizing Localized Tax Returns.

Line	Report Label	Box	Amount	Search Type	Transaction Types	Tax Codes	Tax Transaction Types	Tax Item Types	Tax Reporting Category
15	Vatable Sales/Receipt -Private	15A 15B	Net amount Tax amount	Sales	Cash Refund Cash Sale Credit Memo Invoice	PH_SR	Domestic Sales	Goods Services	–
16	Sales to Government	16A 16B	Net amount Tax amount	(Custom)
17	Zero Rated Sales/Receipts	17	Net amount	Sales	Cash Refund Cash Sale Credit Memo Invoice	PH_ZR	Domestic Sales Exports	Goods Services	–
18	Exempt Sales/Receipts	18	Net amount	Sales	Cash Refund Cash Sale Credit Memo Invoice	PH_NL	Domestic Sales Exports	Goods Services	–
19	Total Sales/Receipts and Output Tax Due	19A 19B	Net amount Tax amount	(Autogenerated)
20	Less: Allowable Input Tax
20A	Input Tax Carried Over from Previous Period	20A	Tax amount	(Enter amount)
20B	Input Tax Deferred on Capital Goods Exceeding P1Million from Previous Period	20B	Tax amount	(Enter amount)
20C	Transitional Input Tax	20C	Tax amount	(Enter amount)
20D	Presumptive Input Tax	20D	Tax amount	(Enter amount)
20E	Others	20E	Tax amount	(Enter amount)
20F	Total (Sum of Item 20A, 20B, 20C, 20D & 20E)	20F	Tax amount	(Autogenerated)
21	Current Transactions
21A/B	Purchase of Capital Goods not exceeding P1Million	21A 21B	Net amount Tax amount	Purchases	Bill Bill Credit	PH_SR	Domestic Purchases Imports	Goods	Capital Goods
21C/D	Purchase of Capital Goods exceeding P1Million	21C 21D	Net amount Tax amount	Purchases	Bill Bill Credit	PH_SR	Domestic Purchases Imports	Goods	Capital Goods
21E/F	Domestic Purchases of Goods Other than Capital Goods	21E 21F	Net amount Tax amount	Purchases	Bill Bill Credit	PH_SR	Domestic Purchases	Goods	-None -
21E/F	Domestic Purchases of Goods Other than Capital Goods	21E 21F	Net amount Tax amount	Expenses	Bill Bill Credit Expense Report	PH_SR	Domestic Purchases	–	–
21G/H	Importation of Goods Other than Capital Goods	21G 21H	Net amount Tax amount	Purchases	Bill Bill Credit	PH_SR_RC	Imports	Goods	-None -
21G/H	Importation of Goods Other than Capital Goods	21G 21H	Net amount Tax amount	Expenses	Bill Bill Credit Expense Report	PH_SR_RC	Imports	–	–
21I/J	Domestic Purchase of Services	21I 21J	Net amount Tax amount	Purchases	Bill Bill Credit	PH_SR	Domestic Purchases	Services	–
21I/J	Domestic Purchase of Services	21I 21J	Net amount Tax amount	Expenses	Bill Bill Credit Expense Report	PH_SR	Domestic Purchases	–	–
21K/L	Services rendered by Non-residents	21K 21L	Net amount Tax amount	Purchases	Bill Bill Credit	PH_SR_RC	Imports	Services	–
21K/L	Services rendered by Non-residents	21K 21L	Net amount Tax amount	Expenses	Bill Bill Credit Expense Report	PH_SR_RC	Imports	–	–
21M	Purchases Not Qualified for Input Tax	21M	Net amount	Purchases	Bill Bill Credit	PH_ZR PH_NL	Domestic Purchases Imports	Goods Services	–
21M	Purchases Not Qualified for Input Tax	21M	Net amount	Expenses	Bill Bill Credit Expense Report	PH_ZR PH_NL	Domestic Purchases Imports	–	–
21N/O	Others	21N 21O	Net amount Tax amount	(Custom)
21P	Total Current Purchases (Sum of Item 21A, 21C, 21E, 21G, 21I, 21K, 21M & 21N)	21P	(Autogenerated)
22	Total Available Input Tax (Sum of Item 20F, 21B, 21D, 21F, 21H, 21J, 21L & 21O)	22	(Autogenerated)
23	Less: Deductions from Input Tax
23A	Input Tax on Purchases of Capital Goods exceeding P1Million deferred for the succeeding period	23A	(Enter amount)
23B	Input Tax on Sale to Government closed to expense	23B	(Enter amount)
23C	Input Tax allocable to Exempt Sales	23C	(Enter amount)
23D	VAT Refund/TCC claimed	23D	(Enter amount)
23E	Others	23E	(Enter amount)
23F	Total (Sum of Item 23A, 23B, 23C, 23D & 23E)	23F	(Autogenerated)
24	Total Allowable Input Tax (Item 22 less Item 23F)		(Autogenerated)
25	Net VAT Payable (Item 19B less 24)		(Autogenerated)
26	Less: Tax Credits/Payments
26A	Monthly VAT Payments -previous two months	26A	(Autogenerated)
26B	Creditable Value-Added Tax Withheld	26B	(Enter amount)
26C	Advance Payments of Sugar and Flour Industries	26C	(Data of the selected account)
26D	VAT withheld on Sales to Government	26D	(Enter amount)
26E	VAT paid in return previously filed, if this is an amended return	26E	(Enter amount)
26F	Advance Payments made	26F	(Data of the selected account)
26G	Others	26G	(Data of the selected account)
26H	Total Tax Credits/Payments (Sum of Item 26A, 26B, 26C, 26D, 26E, 26F & 26G)	26H	(Autogenerated)
27	Tax Still Payable/(Overpayment) (Item 22 less item 23G)	27	(Autogenerated)
28	Add Penalties:
	Surcharge	28A	(Data of the selected account)
	Interest	28B	(Data of the selected account)
	Compromise	28C	(Data of the selected account)
	Total Penalties	28D	(Autogenerated)
29	Total Amount Payable/(Overpayment) (Sum of item 24 and 25D)	26	(Autogenerated)

To enter amounts on boxes 20A-E, 23A-E, 26B, 26D, and 26E, see Making Adjustments on a Country Tax Report.

The values reported on boxes 26C, 26F, 26G, and 28A-C are from the data of the selected accounts upon Philippines tax return setup. To select an account and customize boxes 16 and 21N-O, see Customizing Localized Tax Returns.

To view the Philippines quarterly VAT report in detail, see Viewing a Generated Country Tax Report.

For information about the reporting features of Country Tax Reports, see Tax Reporting Framework.

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