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  1. 12-15-2011, 05:29 AM #1
    yang
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    help! filling out bir form 2550M

    What's the proper presentation of Input Tax already withheld by our customer (govt) on BIR form 2550M?
    Do I place it to 23C (VAT withheld on sale to govt sched 8) or to 20B (input tax on sale to govt close to expense sched 4) ?
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  2. 01-15-2012, 12:29 AM #2
    TaxAcctgCenter
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    Hi Yang. Both at 23C and 20B after a series of computations tending to balance the impact of final withholding VAT and related input taxes. Procedure is quite complicated. For better learning, I suggest you participate our trainings and workshops for a minimal fee. Your knowledge in Final VAT may seem critical because every mistake has a corresponding penalty.
    Taxes affects lives, care for taxes and save lives. For quality tax and accounting seminar, tutorials, trainings, and workshops, please visit us at [url]www.taxacctgcenter.org[/url].
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