Summary
RR No. 16-2018 amends Revenue Regulations No. 10-2015, as amended by RR Nos. 12-2015, 14-2015 and 6-2016, on the paper used for CRM/POS machines and other invoice or receipt generating machines or software.
Key points
- Choice of paper. Taxpayers may choose the type of paper to use based on business requirements. They must keep and preserve accounting records for the period in which the Commissioner may assess and collect taxes.
- Added receipt information. On top of Section 5 of RR No. 10-2015, tape receipts must show the CRM/POS serial number. Non-VAT ORs, SIs and CIs must carry in bold at the bottom the phrase THIS DOCUMENT IS NOT VALID FOR CLAIM OF INPUT TAX.
- Exempt and validity wording. Taxpayers whose transactions are not subject to VAT or Percentage Tax issue Non-VAT principal receipts or invoices marked EXEMPT. The OR, SI or CI must also state that it is valid for five (5) years from the date of the permit to use.
- Senior citizen and PWD transactions. Under RA No. 10754, a space is required for the SC/PWD TIN, OSCA ID No./PWD ID No., the discount breakdown (20% discount and/or 12% VAT exemption) and the signature. Taxpayers whose transactions are not covered by RA Nos. 9994 and 10754 may omit this.
- Replacing tape receipts. A buyer who needs proof for an expense claim or input tax may return the tape receipt and ask for a manual invoice or receipt. The seller deducts that sale from eSALES reporting through an adjustment in the CRM Sales Book or Back-end Report, but still shows it separately in the Summary List of Sales of VAT-registered taxpayers.
Who is affected
- Taxpayers using CRMs/POS machines and other invoice or receipt generating machines or software
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
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