BIR urged to address concerns on issuing invoices | ABS-CBN

Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!
BIR urged to address concerns on issuing invoices
BIR urged to address concerns on issuing invoices
ABS-CBN News
Published May 27, 2024 05:59 PM PHT

Watch more on iWantTFC.com. Watch hundreds of Pinoy shows, movies, live sports and news.
Watch more on iWantTFC.com. Watch hundreds of Pinoy shows, movies, live sports and news.
MANILA -- A tax expert is questioning the government's move to ask taxpayers to issue invoices instead of official receipts.
MANILA -- A tax expert is questioning the government's move to ask taxpayers to issue invoices instead of official receipts.
Under the government's Ease of Paying Taxes Act, all taxpayers using manual official receipts will have to start issuing valid invoices.
Under the government's Ease of Paying Taxes Act, all taxpayers using manual official receipts will have to start issuing valid invoices.
Those who have unused official receipts may convert these to invoices by striking out the words "official receipt," then stamping these documents with the word "invoice."
Those who have unused official receipts may convert these to invoices by striking out the words "official receipt," then stamping these documents with the word "invoice."
Those who fail to comply with this can face a severe fine or even imprisonment.
Those who fail to comply with this can face a severe fine or even imprisonment.
ADVERTISEMENT
The new rule took effect on April 27, but the deadline to report the inventory of unused receipts is set for May 27.
The new rule took effect on April 27, but the deadline to report the inventory of unused receipts is set for May 27.
Asian Consulting Group's chief tax advisor Mon Abrea said the Bureau of Internal Revenue (BIR) should address the public's concerns about the new rule.
Asian Consulting Group's chief tax advisor Mon Abrea said the Bureau of Internal Revenue (BIR) should address the public's concerns about the new rule.
"Maganda naman ang intensyon nito, ito ay nakapaloob sa bagong batas na tinatawag nating Ease of Paying Taxes, kung saan gagawing isa na lang--wala nang official receipt, wala nang invoice, kundi invoice na lang, wala nang pagkakaiba kung whether ang binenta mo ay goods or services," he explained.
"Maganda naman ang intensyon nito, ito ay nakapaloob sa bagong batas na tinatawag nating Ease of Paying Taxes, kung saan gagawing isa na lang--wala nang official receipt, wala nang invoice, kundi invoice na lang, wala nang pagkakaiba kung whether ang binenta mo ay goods or services," he explained.
"Kaya lang, nandito tayo sa tinatawag nating transition, kaya medyo may kaguluhan at medyo nawiwindang ang ating taxpayers."
"Kaya lang, nandito tayo sa tinatawag nating transition, kaya medyo may kaguluhan at medyo nawiwindang ang ating taxpayers."
(The intention is good--this is under the Ease of Paying Taxes Law, which only requires an invoice regardless of whether you sold goods or services. The old law differentiated between official receipts and invoices. But we are in the transition period, so I guess the public is still a bit confused.)
(The intention is good--this is under the Ease of Paying Taxes Law, which only requires an invoice regardless of whether you sold goods or services. The old law differentiated between official receipts and invoices. But we are in the transition period, so I guess the public is still a bit confused.)
ADVERTISEMENT
He also said he hopes the new rule will really simplify the taxpaying process.
He also said he hopes the new rule will really simplify the taxpaying process.
"Sana gawing online, para hindi na mano-manong gawin ng ating mga kababayan kasi, yun ang ease of paying taxes," he said.
"Sana gawing online, para hindi na mano-manong gawin ng ating mga kababayan kasi, yun ang ease of paying taxes," he said.
(I hope they make it easy to file those taxes online, so our countrymen don't have to do it manually--that's ease of paying taxes."
(I hope they make it easy to file those taxes online, so our countrymen don't have to do it manually--that's ease of paying taxes."
He also said the BIR should clarify whether or not the new rule applies to businesses with sales of P3 million and below, since these are VAT-exempt.
He also said the BIR should clarify whether or not the new rule applies to businesses with sales of P3 million and below, since these are VAT-exempt.
--ANC, 27 May 2024
ADVERTISEMENT
ADVERTISEMENT