RMC No. 02-2014: Clarifies the issuance of Official Receipt being required by Government Auditors as evidence of Receipt of Payment for disbursements where the payee/recipient is a dealer, supplier or any business establishment required by the BIR to issue such

Summary

RMC No. 02-2014 clarifies the Official Receipt that Government Auditors require as evidence of receipt of payment for disbursements to dealers, suppliers or business establishments required by the BIR to issue receipts.

Key points

1. Sales Invoice in place of Official Receipt. For sale of goods or properties, a Sales Invoice serves in lieu of an Official Receipt as evidence for audit.
2. Existing rules still observed. The provisions of Revenue Regulations No.18-2012 and Revenue Memorandum Order No. 12-2013 on issuing Principal and/or Supplementary Receipts/Invoices in the ordinary course of business, and on examining evidence of receipt of payment, are strictly observed.

Who is affected

• Dealers, suppliers and business establishments required by the BIR to issue receipts
• Government Auditors

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.