Article 48p. 48

NATIONAL INTERNAL REVENUE CODE TAXATION, TARIFF and CUSTOMS LAWS

(C) Period within which Refund or Tax Credit of Input

Taxes shall be Made. - In proper cases, the Commissioner

shall grant a refund for creditable input taxes within

ninety (90) days from the date of submission of the

official receipts or invoices and other documents in

support

of

the application filed in accordance with

Subsections (A) and (B) hereof: Provided, That should the

Commissioner find that the grant of refund is not proper,

the Commissioner must state in writing the legal and

factual basis for the denial.

In case of full or partial denial of the claim for tax refund,

the taxpayer affected may, within thirty (30) days from

the receipt of the decision denying the claim, appeal the

decision

with

the

Court

of

Tax

Appeals:

Provided,

however, That failure on the part of any official, agent, or

employee of the BIR to act on the application within the

ninety (90)-day period shall be punishable under Section

269 of this Code.

(as amended by RA No 10963)

(D) Manner of Giving Refund. - Refunds shall be made

upon warrants drawn by the Commissioner or by his duly

authorized representative without the necessity of being

countersigned by the Chairman, Commission on audit,

the provisions of the Administrative Code of 1987 to the

contrary notwithstanding: Provided, That refunds under

this paragraph shall be subject to post audit by the

Commission on Audit.

CHAPTER II COMPLIANCE REQUIREMENTS

SEC. 113. Invoicing and Accounting Requirements for

VAT-Registered Persons. -

(A) Invoicing Requirements. - A VAT-registered person

shall issue:

(1) A VAT invoice for every sale, barter or exchange of

goods or properties; and

(2)

A VAT official receipt for every lease of goods or

properties, and for every sale, barter or exchange of

services. [74]

(B) Information Contained in the VAT Invoice or VAT

Official Receipt. - The following information shall be

indicated in the VAT invoice or VAT official receipt:

(1)

A statement that the seller is a VAT-registered

person,

followed by his Taxpayer's Identification

Number (TIN); and

(2) The total amount which the purchaser pays or is

obligated to pay to the seller with the indication that

such

amount

includes

the

value-added

tax.

Provided, That:

(a)

The amount of the tax shall be known as a

separate item in the invoice or receipt;

(b) If the sale is exempt from value-added tax,

the term "VAT-exempt sale: shall be written or

printed prominently on the invoice or receipt;

(c)

If the sale is subject to zero percent (0%)

value-added tax, the term "zero-rated sale" shall

be

written

or

printed

prominently

on

the

invoice or receipt.

(d)

If the sale involved goods, properties or

services some of which are subject to and some

of which are VAT zero-rated or Vat exempt, the

invoice

or receipt shall clearly indicate the

break-down

of

the

sale

price

between

its

taxable, exempt and zero-rated components,

and the calculation of the value-added tax on

each portion of the sale shall be known on the

invoice or receipt: Provided, That the seller may

issue

separate

invoices

or

receipts

for

the

taxable, exempt, and zero-rated components of

the sale.

(3)

The date of transaction, quantity, unit cost and

description of the goods or properties or nature of

the service; and

(4)

In the case of sales in the amount of One

thousand pesos (P1,000) or more where the sale or

transfer is made to a VAT-registered person, the

name, business style, if any, address and Taxpayer

Identification

Number

(TIN)

of

the

purchaser,

customer or client. [75]

(C) Accounting Requirements. - Notwithstanding the

provisions of Section 233, all persons subject to the

value-added tax under Sections 106 and 108 shall, in

addition to the regular accounting records required,

maintain

a

subsidiary

sales

journal

and

subsidiary

purchase journal on which the daily sales and purchases

are recorded. The subsidiary journals shall contain such

information as may be required by the Secretary of

Finance.

(D) Consequence of Issuing Erroneous VAT Invoice or

VAT Official Receipt. -

(1)

If a person who is not a VAT-registered persons

issues an invoice or receipt showing his Taxpayer

Identification Number (TIN), followed by the word

"VAT";

(a) The issuer shall, in addition to any liability to

other percentage taxes, be liable to:

(i)

The tax imposed in Section 106 or 108

without the benefit of any input tax credit;

and

(ii) A 50% surcharge under Section 248(B)

of this Code; [76]

(b)

The

VAT

shall,

if

the

other

requisite

information

required

under

Subsection

(B)

hereof is shown on the invoice or receipt, be

recognized

as

an

input

tax

credit

to

the

purchaser under Section 110 of this Code.

(2) If a VAT-registered person issues a VAT invoice or

VAT official receipt for a VAT-exempt transaction, but

fails to display prominently on the invoice or receipt

the term ' VAT exempt sale ', the issuer shall be liable

to account for the tax imposed in section 106 or 108

as if Section 109 did not apply. [77]

(E) Transitional Period. - Notwithstanding Subsection (B)

hereof, taxpayers may continue to issue VAT invoices and

VAT

official

receipt

for

the

period

July

1,

2005

to

December 31, 2005 in accordance with Bureau of Internal

Revenue

administrative

practices

that

existed

as

of

December 31, 2004.

SEC. 114. Return and Payment of Value-Added Tax. -

(A)

In

General.

-

Every

person

liable

to

pay

the

value-added tax imposed under this Title shall file a

quarterly return of the amount of his gross sales or

receipts within twenty-five (25) days following the close of

each

taxable

quarter

prescribed

for

each

taxpayer:

Provided, however, That VAT-registered persons shall pay

the value-added tax on a monthly basis: Provided, finally,

That beginning January 1, 2023, the filing and payment

required under this Subsection shall be done within

twenty-five (25) days following the close of each taxable

quarter. (as amended by RA No 10963)

Any person, whose registration has been cancelled in

accordance with Section 236, shall file a return and pay

the tax due thereon within twenty-five (25) days from the

date of cancellation of registration: Provided, That only

one consolidated return shall be filed by the taxpayer for

his principal place of business or head office and all

branches.

(B) Where to File the Return and Pay the Tax. - Except

as the Commissioner otherwise permits, the return shall

be filed with and the tax paid to an authorized agent

bank, Revenue Collection Officer or duly authorized city

or municipal Treasurer in the Philippines located within

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