Ahead of the mandatory implementation next year, PLDT and Smart Communications, Inc. announced that the group’s enterprise customers will shift to electronic invoicing (e-invoicing) starting April.
On Friday, March 25, PLDT and Smart said they were chosen by the Bureau of Internal Revenue (BIR) to take part in the pilot implementation of the electronic invoicing system (EIS).
Ma. Criselda Guhit, PLDT tax management and advocacy sector first vice president said the group supports the Department of Finance’s (DOF) efforts to improve the country’s tax collection and administration.
“As responsible corporate citizens helping drive the government’s digitalization, we piloted the issuance of e-invoices and e-receipts, in fulfillment of our mandate under the law. This complements the paperless billing program we are implementing for our Enterprise customers,” Guhit said.
Starting April, enterprise customers of PLDT and Smart may be able to view their statements of account through online channels.
According to PLDT, the digital billing program is aligned with the group’s aim to improve customer experience by ensuring timely and accurate billing and to protect data privacy, and to streamline processes in its group-wide pivot to digital transformation.
It also reinforces the the group’s commitment to help the country achieve the United Nations Sustainable Development Goal No. 12 on sustainable consumption and production, PLDT said.
To reduce value added tax (VAT) tax fraud and simplify transactions for taxpayers, e-invoice or electronic receipt issuance became mandatory in the Philippines when the Tax Reform for Acceleration and Inclusion Act (TRAIN) law took effect in 2018.
Under the TRAIN law, taxpayers engaged in the export of goods or services, e-commerce and those considered large taxpayers, are required to issue e-invoices or e-receipts for their transactions within five years from the law’s effectivity, or on or before Jan. 1 next year.