--- title: "Know your taxes: 2550M" description: "**Updated guidance:** This article reflects guidance as of **January 2019**. Oojeema still generates **2550M** as a live product output. Filing rules can change — confirm your schedule on Form 2303 and with your tax professional. Product overview: [BIR Forms](https://oojeema.com/bir-forms/) ·…" url: "https://resources.oojeema.com/docs/know-your-taxes-2550m/" updated: "2026-08-17" category: Taxes --- # Know your taxes: 2550M **Updated guidance:** This article reflects guidance as of **January 2019**. Oojeema still generates **2550M** as a live product output. Filing rules can change — confirm your schedule on Form 2303 and with your tax professional. Product overview: [BIR Forms](https://oojeema.com/bir-forms/) · [Oojeema Facts](https://oojeema.com/about-oojeema/). ![](https://resources.oojeema.com/wp-content/uploads/2018/05/know-your-taxes_-2550M.png) Who should file 2550M? If you’re a VAT-registered business or a business required to register as a VAT payer, you should file for 2550M. When is the deadline for 2550M? 2550M must be filed and paid for not later than the 20th day of the following month for eBIR and for eFPS. However, for some groups, eFPS may be paid for until the 25th. What happens if the 20th falls on a weekend or a holiday? BIR usually moves the deadline to the next working day. Where do I file? 2550M may be filed via eBIR and EFPS. ## For eBIR filing, you file online then may choose to pay via: - Authorized Agent Bank (AAB) - GCash - Online payment - Authorized Municipal or City Treasurer Note that the AAB depends on your location. For a full list of these banks, check [this list](https://www.bir.gov.ph/index.php/list-of-authorized-agent-banks.html). ## For digital filing: Log on to [https://efps.bir.gov.ph/](https://efps.bir.gov.ph/) What are the penalties if I file late? You may be asked to pay 25% of the total amount due, 20% per annum of the total amount due, and/or compromise penalty depending on the reasons for late filing. Is there a penalty if I file on time but pay late? Yes. For the rates, please refer to the question above. What are the attachments required? - Proof of the payment and the return previously filed, for amended return. - If applicable, the following should be attached: - Duly issued Certificate of Creditable VAT Withheld at Source - Duly approved Tax Debit Memo - Duly approved Tax Compliance Certificate - Authorization letter if the filed by the representative. If NON-VAT TP will be on a quarterly basis using 2551Q, will VAT TP remain on a monthly basis using 2550M? 2550M for first 2months of the quarter. 2550Q for the quarter. I was not able to attach in my 2550M the SAWT for the past 10 months. What is the possible remedy for this? SAWT is not a required attachment to 2550M. Our company was registered only this month, should I still file 2550M? Yes. File it on the following month. Do I still have to file 2550M for the third month of a quarter or is 2550Q enough? No. 2550Q is enough. Where do I place zero-rated and tax exemptions? Write it in the field labeled *18M Purchases Not Qualified for Input Tax.* Do I need to include alphalist? No. It’s required for 2550Q instead. How do I amend already submitted forms? It’s better to amend 2550Q instead of 2550M. The former is designed to contain all corrections and adjustments to the latter. Are fees not subject to VAT under Zero rated or Exempt Sales/Receipts? If fees not in pursuit of regular trade and business, it is not subject to sales or business tax. How long does it take before we get the confirmation from BIR? The confirmations are usually immediate except when you submitted on the deadline date itself as others are submitting on the same date. If I forgot to file for the first two months, should I still file the following month or file 2550Q instead? Yes. 2550M is necessary because 2550Q is the consolidated version. Hence, if you have errors in the monthly returns, you may correct it on the 2550Q. References: https://efps.bir.gov.ph/efps-war/EFPSWeb_war/help/help2550m2006.html [Tax Help in the Philippines Facebook page](https://www.facebook.com/groups/TaxHelpInPHL/) [Philippine Tax, Accounting, and Audit Forum Facebook page](https://www.facebook.com/groups/223097461180050/?ref=br_rs) *Disclaimer: The information contained in this article is based on existing regulations and policies as of May 17, 2018. To the best of our knowledge, this information is factual and correct. However, should there be any discrepancy, always consult BIR for clarification.*   Click [here](https://oojeema.com/resources/know-your-taxes-2550q/) for information on 2550Q and [here](https://oojeema.com/resources/know-your-taxes-2551q/) for 2551Q. We answered questions for [SLSP](https://oojeema.com/resources/know-your-taxes-slsp/) too. Oojeema’s built-in 2550M automatically updates as you add sales and purchase transactions. This means if you’re filing through eFPS or eBIR, you no longer have to manually compute input and output VATs. Just click generate then you can key in the amounts on the eBIR and eFPS portals. [Check it out here.](http://oojeema.com/) ![](https://resources.oojeema.com/wp-content/uploads/2018/04/oojeema-dashboard-1024x576.png)