Davao biz groups ask BIR to extend receipts expiry

DAVAO CITY (MindaNews/21 May) — Six business groups have asked the Bureau of Internal Revenue (BIR) to extend the expiration date of existing official receipts, sales invoices and other commercial invoices from June 30 to December 30.

This appeal was made by the Davao City Chamber of Commerce and Industry Inc., Davao Filipino-Chinese Cultural Foundation, Filipino-Chinese Youth Inc.-Davao Chapter, Mindanao Taiwan Chamber of Commerce and Industry Inc. and Philippine Chinese Chamber of Commerce and Industry Inc.

These groups comprise about 3,000 companies and enterprises in Davao City.

In a petition sent to BIR Commissioner Kim Jacinto-Henares on May 20, the groups said the extension would give them enough time to comply with the order to replace old receipts with new ones as well as minimize expenses on their part.

“As you perhaps may know already, many of our members, who are taxpayers order their receipts/invoices in volume, for a minimum of six months up to one year, because volume orders save on costs,” the joint appeal stated.

The groups added that their members have receipts and invoices that are programmed for use up to the end of the year.

“The deadline of June 30, 2013 will result only to additional costs and expenses to our members,” the appeal cited.

The BIR already set the deadline of June 30 through Revenue Regulation No. 18-2012 issued on Oct. 22 last year.

Lita Ma. Chin, chief of assessment division of BIR-XI, said the existing official receipts, sales invoices and other commercial invoices should be replaced with new receipts and invoices printed by BIR-accredited printers.

These existing receipts or invoices, she said, should be surrendered to BIR’s revenue district offices.

The new policy aims to regulate the printing of all invoices by setting a period.

BIR Revenue Regulation No. 18-2012 provides that the new official receipts, sales invoices and other commercial invoices will be valid for a period of five years. These should carry watermarks printed from the BIR-accredited printers.

The revenue regulation further states that the businesses and government entities that issue receipts shall apply and process the authority to print (ATP) before the BIR online as only BIR-accredited printers should have exclusive authority to print principal and supplementary receipts or invoices.

“The approved ATP shall be valid only upon full usage of the inclusive serial numbers of principal and supplementary receipts/ invoices reflected in such ATP or five years from issuance of the same,” the regulation adds.

Failure to follow BIR’s new order carries the penalty of “a fine of not less than P1,000 but not more than P50,000 and…imprisonment of not less than two years but not more than four years” based on Section 264 of the National Internal Revenue Code. (MindaNews)

URL: http://www.mindanews.com/business/2013/05/21/davao-biz-groups-ask-bir-to-extend-receipts-expiry/


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