SECTION 1. Scope. - Pursuant to the provisions of Section 244 in relation to Section 245 of the National Internal Revenue Code of 1997 (Tax Code), as amended, these Regulations are hereby promulgated to amend the transitory provisions of RR No. 8-2018 on the updating of registration from VAT to non-VAT which was due last March 31, 2018.

SECTION 2. Amendment. - Section 13 of RR 8-2018 is hereby amended by extending the deadline of registration updates to read as follows:

œSECTION 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.

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. 

SECTION 3. Repealing Clause. - All revenue issuances that are inconsistent with the provisions of these Regulations are hereby amended, modified or repealed accordingly.

SECTION 4. Effectivity. - These regulations are effective immediately.