What goes into each box - Philippines VAT report

Refer to the following table to understand how NetSuite uses the tax codes to get the values for the Monthly Value-Added Tax Declaration form 2550M.

Monthly Value-Added Tax Declaration 2550M							Sales/Receipts (VAT exclusive)		Output Tax Due
12	Vatable sales/receipts - private					12A	S-PH	12B	S-PH + Tax amount of sales adjustment of box12b, S-PH
13	Sales to government					13A	G-PH	13B	G-PH + Tax amount of sales adjustment of box13b, G-PH
14	Zero rated sales/receipts					14	Z-PH
15	Exempt sales/receipts					15	EX-PH
16	Total sales/receipts and output tax due					16A	12A+13A+14+ 15	16B	12B+13B
17	Less: Allowable input tax
	17A	Input tax carried over from previous period						17A	Editable field
	17B	Input tax deferred on capital goods exceeding P1M from previous period						17B	Editable field
	17C	Transitional input tax						17C	Editable field
	17D	Presumptive input tax						17D	Editable field
	17E	Others						17E	Editable field
	17F	Total						17F	17A+17B+ 17 C+17D+17E
18	Current transactions						Purchases
	18A/B	Purchase of capital goods not exceeding P1M				18A	CAP-PH (if <= P1M)	18B	CAP-PH + Tax amount of purchase adjustment box18b, CAP-PH
	18C/D	Purchase of capital goods exceeding P1M				18C	CAP-PH (if > P1M)	18D	Editable field
	18E/F	Domestic purchase of goods other than capital goods				18E	S-PH	18F	S-PH + Tax amount of purchase adjustment box18f, S-PH
	18G/H	Importation of goods other than capital goods				18G	IMPT-PH	18H	IMPT-PH + Tax amount of purchase adjustment box18h, IMPT-PH
	18I/J	Domestic purchase of services				18I	SVC-PH	18J	SVC-PH + Tax amount of purchase adjustment box18j, SVC-PH
	18K/L	Services rendered by non residents				18K	SVCA-PH	18L	SVCA-PH + Tax amount of purchase box18l, SVCA-PH
	18M	Purchases not qualified for input tax				18M	EX-PH, Z-PH
	18N/O	Others				18N	Editable field	18O	Editable field
	18P	Total current purchases				18P	18A+18C+18E+18G+18I+ 18K+18M+ 18N
19	Total available input tax							19	17F+18B+18D18F+18H+ 18J+18L+18O
20	Less: Deductions from input tax
	20A	Input tax on purchases of capital goods exceeding P1Million						20A	Editable field
	20B	Input tax on sales to government closed to expense						20B	Editable field
	20C	Input tax allocable to exempt sales						20C	Editable field
	20D	VAT refund/TCC claimed						20D	Editable field
	20E	Others						20E	Editable field
	20F	Total						20F	20A+20B+ 20C+20D+ 20E
21	Total allowable input tax							21	19 - 20F
22	Net VAT payable							22	16B - 21
23	Less: Tax credits/payments
	23A	Creditable value-added tax withheld						23A	Editable field
	23B	Advance payments of sugar and flour industries						23B	Editable field
	23C	VAT withheld on sales to government						23C	Editable field
	23D	VAT paid in return previously filed, if this is an amended return						23D	Editable field
	23E	Advance payments made						23E	Editable field
	23F	Others						23F	Editable field
	23G	Total tax credits/payments						23G	23A+23B+23C+23D+23E+23F
24	Tax still payable/(Overpayment)							24	22-23G
25	Add penalties:
			Surcharge		Interest		Compromise
		25A	Editable field	25B	Editable field	25C	Editable field	25D	25A+25B+ 25C
26	Total amount payable/(Overpayment)							26	24+25D

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