Wednesday, September 5, 2012
No. of Issuance
Subject Matter
Date of Issue
RR No. 1-2012
Requires the mandatory submission of Quarterly Summary List of Sales and Purchases by all VAT registered taxpayers
(Published in Manila Bulletin on February 22, 2012)
Digest | Full Text
February 20, 2012
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REVENUE REGULATIONS NO. 1-2012 issued on February 20, 2012 requires the mandatory
ReplyDeletesubmission of Quarterly Summary List of Sales and Purchases (SLSP) by all Value-Added Tax
(VAT) registered taxpayers, thereby amending Section 4.114-3 of Revenue Regulations (RR) No.
16 -2005, as amended, otherwise known as the Consolidated Value-Added Tax Regulations of
2005.
Section 4.114-3 (a) and (e)(7) is hereby modified to read as follows:
“SECTION 4.114-3. Submission of Quarterly Summary List of Sales and
Purchases. —
a. Persons Required to Submit Summary Lists of Sales/Purchases. —
(1) Persons Required to Submit Summary Lists of Sales. — All
persons liable for VAT such as manufacturers, wholesalers, serviceproviders, among others are required to submit Summary List of Sales.
(2) Persons Required to Submit Summary Lists of Purchases. — All
persons liable for VAT such as manufacturers, service-providers, among
others are required to file Summary List of Purchases.
x x x
e. Rules in the Presentation of the Required Information in the Summary
Schedules. —
x x x
(7) The Quarterly Summary List of Sales and Purchases shall be
submitted through Compact Disk-Recordable (CDR) medium following
the format provided in Subsection (g) hereof. “
All reference to “magnetic form 3.5-inch floppy diskettes” in RR No. 16-2005 shall
henceforth refer to “Compact Disk-Recordable (CDR)”.
This Revenue Regulations shall take effect on January 1, 2012
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