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BIR issues new guidelines on invoicing requirements

Business

BIR issues new guidelines on invoicing requirements

By Jun Ramirez

The Bureau of Internal Revenue (BIR) has issued additional guidelines regarding registration procedures and invoicing requirements following the passage of the Ease of Paying Taxes (EOPT) Act.

These new guidelines aim to provide relief to taxpayers in meeting the new invoicing requirements.

Key amendments in Revenue Regulations No. 11-2024 include allowing taxpayers to convert and use their remaining official receipts (OR) as billing statements and charges into billing invoices until they are fully consumed.

The deadline for submitting the inventory report on unused official receipts, billing statements, and statements of charges converted into invoices or billing invoices has been extended to July 31, 2024.

Additionally, the reconfiguration and system enhancement of computerized accounting systems (CAS) and computerized books of account (CBA) with accounting record (AR) adjustments have been extended until December 31, 2024.

Any further extensions must be approved by the concerned regional director or assistant commissioner of the Large Taxpayers Service (LTS) and cannot exceed six months from December 31, 2024.

The notice on remaining OR by cash register machine (CRM), point of sale (POS), CAS, or CBA with AR must be submitted to the concerned revenue district officer or the LTS within 30 days from the completion of reconfiguration/enhancement of the sales machine/software, or by Dec. 31, 2024, whichever comes first.

"By removing the deadlines on the conversion and use of official receipts, as well as extending the deadlines for implementing the new invoicing provisions under the EOPT Act, we aim to make it easier for our taxpayers to fully comply with the various requirements of the law," BIR Commissioner Romeo D. Lumagui, Jr. stated.

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Bureau of Internal Revenue (BIR) BIR Commissioner Romeo Lumagui Jr.

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