Setting policies and guidelines for use of Electronic Invoicing/Receipting System (EIS)
Requiring taxpayers engaged in the export of goods and services, e-commerce, and large taxpayers to issue electronic receipts The Bureau of Internal Revenue (BIR) issued Revenue Regulation (RR) No. 08-2022 and RR No.09-2022 to address concerns regarding Electronic Invoicing/receipting systems[1] (EIS) by setting policies and guidelines. Taxpayers who are mandated to use EIS are those […]
No more five(5)-year validity period on receipts/invoices
Revoking the rule sets in RR No. 18-2012 Revenue Regulation (RR) No. 06-2022 was issued by the Bureau of Internal Revenue (BIR) removing the five (5)-year validity period on receipts/ invoices and nullifying the rule sets in RR No. 18-2012 . Pursuant to the RR, previously issued regulations (RMO No. 12-2013, RMC No. 10-2020, RMC No. […]
Local Supplier’s VAT Zero-Rated Sales as per BIR RR No. 21-2021 and RMC 24-2022
Frequently Asked Questions (FAQs): 1. What is a Registered Export Enterprise (REE)? Answer: Any entity existing under Philippines laws and registered with an IPA to engage in manufacturing, assembling, processing, and services such as information technology activities, assembling or processing activities and business process and outsourcing (BPO) and resulting in a direct exportation or sale […]
Spotlight shines bright on companies that push for country’s digital breakthroughs in first P-Innovator Summit Awards
The first P-Innovator Summit, organized by the revolutionary accounting platform BABYLON2K.org (B2K) in partnership with premier training and resource center the Institute for Leadership, Entrepreneurship, and Development, Inc. (iLEAD), UHY Philippines, and other B2K Partners, recently recognized three rising companies in the country’s ongoing digital transformation roadmap. Aiming to showcase innovative companies that operate in […]
Annual Establishment Report on Wages (Labor Advisory No. 09 Series of 2022)
Annual submission of a verified itemized listing of their labor component below managerial level of all private establishments Pursuant to Article 124 of the Labor Code, as amended by Republic Act No. 6727, all private establishments are required to submit an annual report on “a verified itemized listing of their labor component, specifying the names […]