Required format for CRM/POS issued receipts (Revenue Regulations 10- 2015) Official Receipts and Sales or Commercial Invoice generated from CRM/POS/other similar machines/software shall be printed showing among others, the information listed below: This also covers electronic receipts generated/issued from a network or linked to CAS or components thereof. 1. Taxpayer’s (TP) Registered Name; 2. TP’s […]
Category Archives: Tax Alerts
Mandatory eFiling by employers of employee personal exemption updates
Mandatory eFiling by employers of employee personal exemption updates (Revenue Memorandum Circular No. 59-2015) Employers shall be responsible for electronic filing of the tax exemption updates of their employees using BIR Form 2305. With this requirement, no employees should visit the RDOs to file the update form. The Form is used for the following: 1. […]
Available Now: eBIRForms Package V5.1
Available Now: eBIRForms Package V5.1 (Revenue Memorandum Circular No. 58- 2015) Downloadable eBIRForms Package Version 5.1 is now available from any of the following sites: 1. www.knowyourtaxes.ph 2. www.dof.gov.ph 3. Dropbox using this link: http://goo.gl/UCr8XS 4. Direct link: http://ftp.pregi.net/bir/ebirforms_package_v5.1.zip or 5. www.bir.gov.ph Modifications on the new eBIRForms Package Version 5.1: 1. Additional return: BIR Form […]
New inventory lists due on September 30, 2015
New inventory lists due on September 30, 2015 Revenue Memorandum Circular No. 57-2015 All taxpayers with tangible asset-rich balance sheet, often with at least 50% of their assets in working capital assets, (e.g. accounts receivable and inventory) shall submit, in addition to the annual inventory list, the schedules/lists prescribed in the following Annexes of the […]
Additional requirement for E-sales reporting from CRM/POS machines
(Revenue Memorandum Circular No. 56-2015) RMC 56-2015 now requires that any amendments in the amount of sales reported in the monthly eSales reports from CRM/POS machines, shall require a written justification addressed to the concerned LTS Investigating Office/Revenue District Office (RDO) with the corresponding adjusting entries properly recorded in the Books of Accounts. Thus, monthly […]
Dec. 31 is final deadline to amend principal corporate address
The Securities and Exchange Commission (SEC) has set December 31, 2015 as the final deadline for corporations to state the specific address of their principal office in their Articles of Incorporation. The registered address should include the street number, street name, barangay, and city or municipality. To comply with the requirement, affected corporations and partnerships […]
On-line TIN registration now available
On-line TIN registration now available BIR has announced that the technical glitches in the eREG system have been resolved. eREG users can resume on-line TIN application beginning August 10, 2015. For copy of the memo, Please click the button below .
BIR stops tax filing through eBIRForms eMail Accounts
The Bureau of Internal Revenue (BIR) has announced that, starting August 1, 2015, filing of tax returns through the eBIRForms eMail Accounts will no longer be allowed. The move was prompted by numerous email submissions with invalid format or without attachments. If you continue to submit through the email accounts, you will receive a response […]
Consolidated BIR Citizen’s Charter
Consolidated BIR Citizen’s Charter (RMC 39-2015, July 13, 2015) The BIR has circularized a consolidated and updated Citizen’s Charter that provides complete guidelines involving the below enumerated applications/transactions with the BIR. The guidelines cover the documentary requirements, venue and due dates, and the step by step procedures including the BIR offices/persons responsible, processing time in […]
Penalties for nonsubmission of SLSPs, alphalists and other violations
Compromise penalties for non-submission of SLSPs, alphalists and other violations (Revenue Memorandum Order No. 7-2015 March 23,2015)< The following major changes were introduced in the revised schedule of compromise penalties : 1. P1,000 per failure to submit per return or per information, up to P25,000 per year for each category. One information per buyer/seller is […]