Summary
RR No. 7-2024 implements Sections 113, 235, 236, 237, 238, 242 and 243 of the Tax Code as amended by RA No. 11976, on registration procedures and invoicing requirements.
Key points
- VAT invoicing and accounting. Covers invoicing requirements, the information on a VAT invoice, accounting requirements and the consequence of issuing an erroneous VAT invoice for VAT-registered persons under Section 113.
- Books of accounts. Covers preservation, examination and inspection of books of accounts and other accounting records under Section 235.
- Registration rules. Under Section 236, covers manner, time and place of registration, registration of business taxpayers and business names, the BIR business registration date, and certificates of registration for head office, branch and facility. It also covers posting of the certificate and of proof of registration on online sellers’ pages, registration of each internal revenue tax, cancellation, transfer and unlawful pursuit of business.
- Issuing and printing invoices. Section 237 covers issuance of invoices, the information they contain, and tickets and similar forms as invoices. Section 238 covers printing of invoices.
- Transitory provisions. Cover certificates of registration reflecting the registration fee, unused official receipts, and Cash Register Machines, Point-of-Sales Machines and e-receipting or electronic invoicing software.
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.