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Customer info needed in VAT receipts, says BIR

By Kathleen A. Martin (The Philippine Star) | Updated October 7, 2015 - 12:00am
 

Henares

MANILA, Philippines - The Bureau of Internal Revenue said yesterday receipts for value-added tax transactions should carry the name of the customer, address, and taxpayer identification number.

In Revenue Memorandum Circular 64-2015 signed Oct. 2, BIR commissioner Kim Henares stressed the need for information requirements that must be shown on receipts, invoices, and other commercial invoices generated from cash register machines, point of sale machines, and other software.

The following information should be contained in VAT receipts: name of purchaser or customer, his or her address, taxpayer identification number, and business style, if any.

Henares said this is line with Section 113(B) of the Tax Code as amended in which information of the purchaser or client must be indicated on VAT receipts in the case of sales amounting to P1,000 or more and made to a VAT-registered person or entity.

She noted if the machines are not able to print those requirements on the receipts or invoices, a manually-printed receipt or invoice should be issued to the customer.

These manually-printed receipts should have an approved authority to print issued by the bureau and should be based on existing provisions of the tax agency.

Henares said the additional information printed on the receipts is important for the claim of input tax credit made by the VAT-registered customer.

Businesses found non-compliant on the requirements would be slapped with monetary fines.
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KNOWING YOUR BIR REGULATIONS AND ISSUANCES

Revenue Regulations (RRs)
are issuances signed by the Secretary of Finance, upon recommendation of the Commissioner of Internal Revenue, that specify, prescribe or define rules and regulations for the effective enforcement of the provisions of the National Internal Revenue Code (NIRC) and related statutes

Revenue Memorandum Orders (RMOs) are issuances that provide directives or instructions; prescribe guidelines; and outline processes, operations, activities, workflows, methods and procedures necessary in the implementation of stated policies, goals, objectives, plans and programs of the Bureau in all areas of operations, except auditing.

Revenue Memorandum Rulings (RMRs) are rulings, opinions and interpretations of the Commissioner of Internal Revenue with respect to the provisions of the Tax Code and other tax laws, as applied to a specific set of facts, with or without established precedents, and which the Commissioner may issue from time to time for the purpose of providing taxpayers guidance on the tax consequences in specific situations. BIR Rulings, therefore, cannot contravene duly issued RMRs; otherwise, the Rulings are null and void ab initio

Revenue Memorandum Circular (RMCs) are issuances that publish pertinent and applicable portions, as well as amplifications, of laws, rules, regulations and precedents issued by the BIR and other agencies/offices.

Revenue Bulletins (RB) refer to periodic issuances, notices and official announcements of the Commissioner of Internal Revenue that consolidate the Bureau of Internal Revenue's position on certain specific issues of law or administration in relation to the provisions of the Tax Code, relevant tax laws and other issuances for the guidance of the public.

BIR Rulings are official position of the Bureau to queries raised by taxpayers and other stakeholders relative to clarification and interpretation of tax laws.