MANILA, Philippines – The new regulations requiring all business establishments to print new official receipts, invoices and other business documents will proceed as scheduled on July 1, 2013, the Bureau of Internal Revenue (BIR) said yesterday.
BIR Commissioner Kim S. Jacinto-Henares said “the complaints against the new regulation are without any basis” and that business establishments were given more than enough time to meet the requirement.
Henares said the BIR issued the new policy last year and published the same in a newspaper of general circulation informing the parties concerned that existing receipts would expire on June 30, 2013.
“We believe that six months is enough preparation for everyone to comply with such requirement,” Henares pointed out.
The BIR, in issuing this new regulations, aims to regulate further the printing of all invoices, set validity period and generate reports relative to the Authority to Print official receipts.
This was an offshoot of the agency’s discovery of businesses registered with the BIR that are not really engaged in any business except to sell invoices, thereby defrauding the government of billions in tax revenues.
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These businesses, the BIR noted, sell their invoices to entities who are either engaged in smuggling and/or purchasing goods without receipts. When BIR looked for these companies, mostly Small and Medium Enterprises, they cannot be found.
The BIR also discovered that a lot of invoices that were printed in the ‘70s are still being used.
Henares said the issuance of new receipts is also aimed at reforming the process of accrediting printers as well as addressing complaints against some BIR personnel engaged in the printing business who make it difficult for taxpayers to register and/or secure authority to print unless they get to print the receipts of said taxpayers.
The regulations disqualify printers with relatives working in the BIR.
All existing unused/unissued receipts or invoices shall be valid until June 30 and must be surrendered to the BIR for destruction.