In a move aimed at easing administrative burdens for taxpayers, the Bureau of Internal Revenue (BIR) has removed the time limit for utilizing converted official receipts (ORs) as invoices.
Under the newly released BIR Revenue Regulation (RR) No. 11-2024, taxpayers are now allowed to convert any remaining ORs into invoices and utilize them until fully consumed.
The converted unused ORs may be used as supplementary receipts, provided they are marked with the statement "THIS DOCUMENT IS NOT VALID FOR INPUT TAX CLAIMS."
The extension also includes converted billing statements, statements of accounts, and statements of charges, enabling them to serve as valid billing invoices until fully utilized.
"This [RR No. 11-2024] is important because taxpayers are now allowed to use all the official receipts as long as they follow the guidelines in converting them to invoices," BIR Commissioner Romeo D. Lumagui Jr. said a mobile phone message.
RR No. 11-2024 superseded the previous provisions under RR No. 7-2024, which had stipulated a Dec. 31, 2024 deadline for the procurement of new invoices.
The BIR also announced an extension to the deadline for submitting inventory reports on unused ORs, converted billing statements, statements of accounts, and statements of charges that have been converted into invoices or billing invoices.
Taxpayers can now submit these reports on or before July 31, 2024.
RR No. 11-2024 was issued in line with the Ease of Paying Taxes Act that seeks to enhance tax system efficiency and streamline tax processes in the country.