Advance Return for Tax on Sales/Purchases (VAT Reporting) (SAP Library

Advance Return for Tax on Sales/Purchases (VAT Reporting)

Use

In the Philippines, companies are required to submit Bureau of Internal Revenue (BIR) forms 2550M for the monthly (value-added tax) report and 2550Q for the quarterly VAT report. However, these forms also include information not provided by the SAP System, such as advance payments. Using the Advance Return for Tax on Sales and Purchases report, you can print the relevant VAT data and enter it in forms 2550M and 2550Q.

Integration

The report is based on the SAP List Viewer (ALV), which enables you to define your own display variants, according to the BIR requirements listed below. For more information on display variants, see Layouts.

Activities

To access the report, from the SAP Easy Access screen, choose Accounting ® Financial Accounting ® General Ledger ® Reporting ® Tax Reports ® General ® Advance Return for Tax on Sales/Purchases ® Advance Return for Tax on Sales/Purchases. You need to make the following settings, in addition to your specific selection criteria:

Under	Set the following indicator(s)
Output control	Read address data
Output lists	Output tax: Line items Input tax: Line items

You need to define your SAP List Viewer display variant to include the following data on the VAT report, as required by the BIR:

Reporting company's name and TIN
Vendor or customer name
Vendor or customer TIN
Vendor or customer address
Document date
Document number
Reference number
Invoice amount
VAT amount

Note

When you generate a VAT report that contains third-party vendors, you must enhance your display variant so that it contains User field 1, User field 2, User field 3, and User field 4.