BIR extends deadline on new info in receipts

MANILA, Philippines - The Bureau of Internal Revenue (BIR) has given companies another month to comply with the new requirements for printed receipts.

In its Revenue Regulation No. 12-2015, the tax bureau extended the deadline to Oct. 30 from Oct. 1.

“Any extension due to enhancements of systems required to be undertaken abroad shall seek the approval from the concerned regional director or assistant commissioner… which shall not be longer than six months from the effectivity of these regulations,” the measure read.

Detailing the required information on receipts from cash register, point of sale, and other invoice-generating machines was part of the BIR’s earlier regulations on requiring the use of non-thermal paper for receipts.

The BIR has issued last month an order for business establishments to use non-thermal paper for invoices and receipts as taxpayers are required to preserve their books of accounts for a period of 10 years.

This is because thermal paper receipts, widely used in malls and restaurants, easily fade and become unreadable.

Businesses were given three years to comply with the new rule considering the cost of shifting to a non-thermal paper printer, while new registrants are required to comply with the order immediately.

In line with this new measure, the BIR also directed businesses to ensure receipts carry their registered name, business style, taxpayers identification number, machine identification number, business address, and date of transaction.

The receipts are also required to have the serial number of the machine used in printing them, description of goods or service, quantity, unit and total cost, value-added tax amount, and a space for the buyer’s name, address, and TIN.

The tax bureau also ordered firms to have the name and address of the cash register or other similar machine printed at the bottom of the receipt. The accreditation number and BIR final permit to use number of the machine should also be visible.