Quantcast
Latest Stories

BIR urged to defer directive on new receipts

Group says extension too short for entrepreneurs, companies

By

Tax practitioners in the country have urged the Bureau of Internal Revenue (BIR) to defer anew the implementation of the regulation requiring the use of new receipts, saying many corporate entities and entrepreneurs would not be able to comply with the Aug. 31 schedule.

In a letter to Internal Revenue Commissioner Kim Henares, the Tax Management Association of the Philippines Inc. (TMAP) said the two-month extension earlier granted by the BIR was still not enough for all enterprises and individual businessmen in the country to secure new sets of receipts as prescribed by the tax bureau.

TMAP, an organization of private-sector accountants and auditors, suggested that the regulation on the issuance of new receipts be made to take effect starting Jan. 1, 2014.

Alternatively, the group said, the implementation could be done on a staggered basis—enterprises and entrepreneurs should be required to start issuing new receipts on different dates depending on when printers are able to service their receipt-printing requests.

TMAP said that based on the number of accredited printers, it would be impossible for all entities and individual entrepreneurs in the country to secure new receipts on time.

The BIR earlier said it accredited 2,250 printers to service the receipt requirements.

“[The] two-month extension appears to be too short for BIR-accredited printers to service the printing requirements of registered taxpayers all over the country,” the group said in the letter dated July 29.

Last January, the BIR announced that a regulation requiring the issuance of new receipts would take effect on July 1. It also said penalties would be slapped on businesses and individual entrepreneurs who would fail to comply.

Failure to issue new receipts can result in the payment of a fine of P50,000 while the owners of the business establishments can be imprisoned for up to four years.

But due to clamor against the schedule, the BIR gave in and deferred the implementation of the regulation to Aug. 31.

The BIR said there was an urgent need to implement the regulation on the issuance of new receipts to address the substantial leakage in revenue collection due to the proliferation of fake receipts being sold to tax evaders and smugglers.

The BIR also said that the regulation was in response to complaints that some unscrupulous BIR personnel were giving businesses a hard time to secure an authority to print receipts (ATP) to force them to tap the printing services of these employees’ preferred printers, some of which were owned by their relatives.

Under the new regulation, relatives of BIR personnel are not allowed to offer receipt-printing services.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: BIR , Bureau of Internal Revenue , Business , economy , News , revenue , tax

  • walang pakundangan

    Madam Kim, Why some businesses in provinces are penalized for not following BIR order of new receipts even though there is a two month extension? Masyado kayong malupit sa taxpayers, sasama ang loob nila detrimental to BIR’s target of collection. Now look businesses wants it be applied on the first day of next year.



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Seabed search for missing Malaysian jet to widen
  • Lacson rejects calls to name ‘pork’ execs
  • Obama due in Seoul as North Korea nuclear test fears grow
  • Hold departure order out vs Corona, Singson
  • Malaysia to release MH370 report–PM
  • Sports

  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Corruption not invincible after all
  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • Global Nation

  • Filipinos second-shortest in Southeast Asia
  • China welcomes PH apology
  • Only 4 Etihad passengers not accounted for
  • Abandoned in Malta,15 PH seamen return
  • Senator hopes PH will also get same vow
  • Marketplace