Shift to e-receipts starts in July – BIR

95
Photo from Canva

By Philstar

Large-scale taxpayers, e-commerce and export firms need to start shifting to the digital issuance of invoices and receipts by July as mandated by the Tax Reform for Acceleration and Inclusion (TRAIN) Law.

The Bureau of Internal Revenue (BIR) said it would carry out on a pilot basis the e-invoicing, e-receipting and e-sales system (EIS) starting July.

The TRAIN Law, signed by President Duterte in 2017, requires the BIR to identify taxpayers that have to issue e-invoices and e-receipts within five years from the effectivity of the measure.

According to the BIR, firms engaged in e-commerce and export enterprises are required to issue digital copies of receipts and invoices. Also, the tax agency said large-scale taxpayers listed with the Large Taxpayers Service are obliged to adopt the EIS.

READ full story HERE.