BIR released a new memorandum regarding the invoice compliance for VAT and Non-VAT taxpayers. Let’s take a look on some of the details on how to issue your invoice if you’re a VAT of Non-VAT business. Invoice Compliance and Requirements According to RMC 77-2024, businesses are now requ...
"Otherwise, no deduction and input tax may be claimed using the old invoices," she said in Revenue Memorandum Circular No. 52-2013.Henares warned that others not covered by the exemption and caught still using the old receipts after August 31are liable to be fined up to P50,000 for first...
Based on the BIR order, there will be a reduction of the number of documentary requirements from the current 30 to a minimum of nine and maximum of 17. Taxpayers will no longer be required to submit soft copies of the scanned sales invoices or official receipts in support of both purchases...
“Open cases,” as termed by the BIR, or “stop-filer cases,” emerge when the BIR’s Returns Compliance System flags a taxpayer for not filing the required tax returns by the prescribed due date. Such scenarios are detailed inRevenue Memorandum Order 041-11, highlighting the system’s role...