(NAR) VOL. 29 NO. 2/ APRIL - JUNE 18
“SECTION 13. TRANSITORY PROVISIONS. - in connection with the provision of Section 24(A)(2)(b) and Section 2(A)(2)(c) of the Tax Code, as amended. all existing VAT registered taxpayers whose gross sales/receipts and other non-operating income in the preceding year did not exceed the VAT threshold of P3,000,000.00 shall have the option to update their registration to non-VAT until April 30, 2018, following the existing procedures on registration updates, and the inventory and surrender/cancellation of unused VAT invoices/receipts.SECTION 3. Repealing Clause. - All revenue issuances that are inconsistent with the provisions of these Regulations are hereby amended, modified or repealed accordingly.
After the above-mentioned date, existing VAT-registered taxpayers who have not exceeded the threshold for the immediately preceding three years, may opt to update their registration to non-VAT following rules and regulations on registration updates, verification, and the inventory and cancellation of VAT invoices/receipts.”