Tax bureau relents on old receipts
THE BUREAU of Internal Revenue (BIR) has extended the deadline for the
validity of old receipts amid complaints from businesses that they were
given too little time to prepare.
HENARES
"We are giving people a two-month extension so they can still use their
old receipts. The deadline is moved to August 30 from June 30," BIR
Commissioner Kim S. Jacinto-Henares said in a phone interview yesterday.
It was an about-face from a statement issued by the Finance department
on Monday, where Ms. Henares was quoted as saying: "the complaints
against the new regulations are without any basis...".
"We believe that six months is enough preparation for everyone to comply
with such requirement."
Revenue Regulations 18-2012, published on January 3, mandated all
businesses to secure an authority to print receipts from the BIR by
April 30. The new receipts should subsequently be used after June 30.
The two-month reprieve does not extend to the printing authority
requirement, Ms. Henares stressed.
"The application period is now over so there will be a penalty for
anyone who wants to apply now," she explained.
The BIR has been overhauling its system of monitoring receipts to ensure
that businesses pay the proper taxes. It suspects that some --
especially small and medium enterprises -- do not issue receipts or
issue ones not approved or tracked by the BIR. The bureau also claimed
that some receipts in use had been printed as far back as the '70s and
should weeded out of the system.
It has since ruled that businesses must phase out their old receipts and
use a new, more secure version that will be made only by BIR-approved
printers.
Businesses have complained, noting that they print receipts in bulk and
thus stocks would go to waste given the June 30 deadline. They also
claimed that they weren't given enough time to process their authorities
to print.
Ms. Henares, for her part, lamented the laxity of businesses: "Everyone
does it late. We authorized 2,250 printers nationwide, 858 in Metro
Manila. They are ready to print but if all businesses apply for the
receipts at the same time at the last minute, of course there will be a
bottleneck." -- Diane Claire J. Jiao
- See more at:
http://www.bworldonline.com/content.php?section=TopStory&title=Tax-bureau-relents-on-old-receipts&id=71744#sthash.2245wqJ7.dpuf
--
-----------------------------------------------------------
CARLOS ANI - SEEDFINANCE Corporation
# 6 E. Javier Street, JubileeVille Subd, Masaya, Bay, Laguna 4033
Philippines
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Cellphone Numbers: +63908-1737072 (Smart)
+63926-4644235 (Globe)
+63933-4298481 (Sun)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
FACEBOOK - HTTP://WWW.facebook/anicarlos
Skype name: carlosaniph
----------------------------------------------------------
