BIR extends deadlines for ORs and new invoicing requirements

The Bureau of Internal Revenue (BIR) has announced significant amendments to the registration procedures and invoicing requirements under the Ease of Paying Taxes (EOPT) Act, following the issuance of Revenue Regulations (RR) No. 7-2024.

BIR Commissioner Romeo D. Lumagui Jr. revealed these changes, aimed at providing taxpayers with more flexibility and relief in meeting the new requirements.

Key Amendments to Transitory Provisions

Under the newly issued RR No. 11-2024, the BIR has introduced the following key amendments to ease compliance for taxpayers:

1. Removal of Deadline on the Use of Unused Official Receipts

Taxpayers can now convert and use their remaining Official Receipts as Invoices and convert Billing Statements, Statements of Account, and Statements of Charges into Billing Invoices without any deadline, allowing them to utilize these documents until they are fully consumed.

2. Extension of Deadline for Submission of Inventory Report

The deadline for submitting the Inventory Report on Unused Official Receipts, Billing Statements, Statements of Account, and Statements of Charges converted into Invoices or Billing Invoices has been extended to July 31, 2024.

3. Extension for System Enhancements

The deadline for reconfiguring and enhancing Computerized Accounting Systems (CAS) and Computerized Books of Account (CBA) with Accounting Record (AR) adjustments has been extended to December 31, 2024. Any further extension must be approved by the concerned Regional Director or Assistant Commissioner of the Large Taxpayers Service (LTS) and shall not exceed six months from December 31, 2024.

4. Submission of Notice on Renaming of Official Receipt by CRM/POS/CAS/CBA with AR

Taxpayers must submit the Notice on Renaming of Official Receipt by Cash Register Machine (CRM), Point of Sale (POS) systems, CAS, or CBA with AR to the relevant Revenue District Office or Large Taxpayers office within 30 days from completing the reconfiguration or enhancement of their sales machine/software, or by December 31, 2024, whichever comes first.

Facilitating Easier Compliance

Commissioner Lumagui emphasized that these adjustments are designed to facilitate easier compliance for taxpayers. “By removing the deadlines on the conversion and use of Official Receipts as well as extending the deadlines on the implementation of the new invoicing provisions under the EOPT Act, we want to make it easier for our taxpayers to comply fully with the various requirements of the law,” he stated.

Background on the EOPT Act

The Ease of Paying Taxes (EOPT) Act aims to streamline tax compliance processes and reduce the administrative burden on taxpayers. It introduces various measures to simplify tax filing, payment procedures, and documentation requirements, fostering a more taxpayer-friendly environment in the Philippines.

For further information and guidance on the new regulations, taxpayers are encouraged to visit the BIR’s official website or contact their respective Revenue District Offices.