THE Bureau of Internal Revenue (BIR) has allowed businesses to use up their remaining official receipts.
Under the government’s Ease of Paying Taxes (EOPT) Act, all taxpayers using manual official receipts will have to start issuing valid invoice.
Those who have unused official receipts may convert these to invoices by striking out the words “official receipt,” then stamping these documents with the word “invoice”.
Those who fail to comply with this can face a severe fine or even imprisonment. The new rule took effect on April 27.
The BIR allowed businesses to submit their report of the inventory of unused receipts via email.
“The BIR is committed to making the transition to EOPT as convenient to taxpayers as possible,” Commissioner Romeo Lumagui said.
Comments and suggestions on the different services provided by the BIR and its implementation of the EOPT are welcome, he added.
Tax experts and lawmakers previously urged the BIR to address the public’s concerns about the new law, and make sure that it really simplifies the taxpaying process. (ABS-CBN News Channel)
