In today’s era of volatility, there is no other way but to re-invent. The growth of services like Netflix, the use of food delivery apps, and long lines outside malls waiting for the release of the latest iPhone are affirmations of our new reality. READ
By John Alexis S. B. SumulongNet, the use of food delivery apps, and long lines outside malls waiting for the release of the latest iPhone are afrmations of our new reality. Given such levels of technological development, taxpayers also expect their tax transactions with the government to be fast and convenient.
With Republic Act No. 8792 and Republic Act No. 11032 in mind, the Bureau of Internal Revenue has released certain issuances to help taxpayers transition into the digital age.Revenue Memorandum Circular No. 29-2021 authorized the use of e-signatures on the following BIR Forms/certicate of Final Tax Withheld at Source ;Certificate of Compensation Payment/Tax Withheld .
Taxpayers not belonging to these categories may still issue manual receipts/invoices. Alternatively, they may opt to use the electronic invoicing system, comply with the provisions of the regulation, and issue the e-Invoices/e-Receipts in lieu of manual receipts/invoices.t, taxpayers registered under the EIS are also not required to submit their Summary List of Sales since the transmission of sales data to the Bureau is done real time or near real time.
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