The Bureau of Internal Revenue (BIR) is set to hold a roadshow to educate Filipino taxpayers about the benefits of the Ease of Paying Taxes (EOPT) law throughout the country.

On the sidelines of the roadshow for the Metro Manila cluster at the PICC Reception Hall, BIR Commissioner Romeo D. Lumagui Jr. said that the roadshow aims to explain the revenue regulations of the law, such as the removal of the annual registration fee of P500.

He also said that the law simplifies the classification among large, medium, small, and micro-enterprises.

"Taxation is for everyone. Everyone needs to be educated with our system of taxation. The BIR aims to create an inclusive environment with taxpayers. The BIR will reach out to taxpayers so they can be informed of their tax obligations,” he said.

“The taxpayer can also reach out to the BIR for comments or suggestions on improving tax administration in the Philippines. The BIR and taxpayers are partners in nation-building," he added.

For his part, newly appointed Finance Undersecretary for the Revenue Operations Group Charlito Martin Mendoza said that the law will simplify tax compliance procedures, reducing red tape, and harnessing technology.

“This EOPT law is very significant because it's a significant step forward in creating an environment that is conducive to entrepreneurship, investment, and innovation,” Mendoza told reporters

The law harmonizes the rules on the value-added tax (VAT) treatment of sales of goods and services, thereby requiring sales invoice for both.

The mandatory issuance of receipts for each sale and transfer of goods and services will be increased from P100 to P500.

The VAT refunds will be classified into low-, medium-, and high-risk claims which are based on the amount of VAT refund claim, tax compliance history, and frequency of filing of VAT refund claims, among others.

Furthermore, it also provides a 180-day period for the Bureau of Internal Revenue (BIR) to process general refund claims on erroneous or illegally collected taxes.