Value Added Tax (VAT) Return Filing Dates and Exemptions

VAT Return Filing Deadlines

• Monthly VAT return must be filed on or before the 20th day of the month following the close of the 1st two months of the quarter (specific dates: February 20, March 20, May 20, June 20, August 20, September 20, November 20, December 20)
• Quarterly VAT return must be filed on or before the 25th day of the month following the last month of the quarter (specific dates: April 25, July 25, October 25, January 25)

VAT-Exempt Transactions

• Sale of real properties that are:
  • Not primarily held for sale to customers or held for lease in the ordinary course of trade or business
  • Utilized for socialized housing
  • House and lot/other dwellings (condominium) valued at less than Php2,000,000.00 (as of January 01, 2021)

VAT Threshold for Sale of Real Properties

• Sale of real properties is subject to VAT if:
  • House and lot/other dwellings are valued at more than Php2,000,000.00
  • Lot only is valued at more than Php2,000,000.00
  • The sale is vatable regardless of the amount

Adjustments to VAT Threshold

• As of January 01, 2021, the VAT threshold for house and lot/other dwellings is Php3,199,200.00 (as per RR No. 8-2021)
• The VAT threshold will be adjusted every three years using the Consumer Price Index (CPI) as published by the Philippine Statistics Authority
• Next adjustment is expected to apply starting on January 1, 2024