RMC No. 24-2002 — Prescribes the required procedures and electronic format in the submission of Quarterly List of Sales/Purchases Digest

REVENUE MEMORANDUM CIRCULAR NO. 24-2002 issued on July 22, 2002 prescribes the required procedures and electronic format in the submission of Quarterly List of Sales/Purchases. The BIR's Reconciliation of Listings for Enforcement (RELIEF) System requires VAT taxpayers to submit quarterly Summary List of Sales for those whose quarterly sales/receipts (net of VAT) exceeds Two Million Five Hundred Thousand Pesos (P 2,500,000) and Summary List of Purchases for those whose quarterly total purchases (net of VAT) exceeds One Million Pesos (P 1,000,000). Said list shall contain monthly totals per regular customer/supplier as well as from casual customers/buyers with individual sales amounting to One Hundred Thousand Pesos (P 100,000) or more. The list shall be submitted in an electronic format on or before 25th day of the month following the close of the taxable calendar or fiscal quarter, using any of the following systems: 1) Excel format; 2) taxpayer's own Extract Program; or 3) Data Entry Module developed by the BIR (available for downloading from the BIR website (http://www.bir.gov.ph) or in diskette or CD upon request, but upon submission of a blank diskette/CD by the requesting taxpayer). A Data Validation Module shall be made available for taxpayers who would opt to use the Excel format or their own Extract Program. The same could be downloaded from the BIR's website or made available in diskette or CD upon request. Once the threshold amount is reached for sales or purchases, VAT taxpayers shall be required to submit the summary lists for the next three (3) succeeding quarters, regardless of whether or not such succeeding taxable quarter sales or purchases exceed the threshold amounts. The determination of the threshold amount would include taxable (net of VAT), zero-rated and exempt transactions. The quarterly summary list of sales or purchases, whichever is applicable, shall be submitted to the Revenue District Office or Large Taxpayers District Office or Large Taxpayers Assistance Division having jurisdiction over the taxpayer. Only diskettes readable upon submission shall be considered as duly filed/submitted Quarterly Summary List of Sales and Output Tax/Purchases and Input Tax/Importations. Failure to submit the aforementioned quarterly summary lists in the manner prescribed above shall be punishable under the pertinent provisions of the Code and regulations. The electronic file record format for sales, purchases and importations under the RELIEF System, together with the necessary guidelines and job aids, are attached as annexes in the Circular.