Hey there Mautax! You’ve probably heard of the new “Ease of Paying Taxes” ruling again about the Official Receipts but if not then you’re in the right place. Here’s how you can stay updated on the new BIR Ruling on Issuance of Official Receipts and ensure compliance with the latest regulations.
No deadline on the new BIR ruling on Issuance of Official Receipts
According to RR 11-2024 the deadline for using the old official receipts has been removed. Taxpayers can keep using their remaining official receipts until they are completely used. But make sure to have these existing stocks of Official Receipts converted and stamped to invoice.
Learn how to process your old official receipts to sales invoice here: https://www.taxumo.com/blog/bir-rules-on-receipts-transitioning-to-invoices/
However, you still need to issue a report of the Inventory List of Unused Official Receipts to BIR to report the number of official receipts remaining for use as invoices. Furthermore, the deadline has been extended to July 31, 2024. This extension provides additional time for businesses to compile and submit accurate inventory reports.
Check out the format to use for your Inventory List of Unused Offical Receipts here: https://www.taxumo.com/blog/inventory-list-of-unused-official-receipts-how-to-issue-this-to-bir/
Deadline for System Enhancement extended
Businesses must upgrade Computerized Accounting Systems (CAS), Computerized Bookkeeping Applications (CBA), and Point of Sale (POS) systems with Accounting Records (AR) by December 31, 2024. You can request an extension from the Regional Director or Assistant Commissioner of LTS, who may grant it for up to 6 months.
After completing the system changes, businesses must notify the renaming of their Official Receipts to CRM/POS/CAS/CBA with Accounting Record within 30 days or by December 31, 2024, whichever comes first. This step ensures that all documentation remains accurate and compliant.