The BIR said notable changes under these new revenue issuances compared to RMO No. 47-2020 include the substantial reduction of the number of documentary requirements from 30 to a minimum of 9 and maximum of 17, and the non-submission of soft copies of the scanned sales invoices or official receipts in support of both purchases and sales of goods or services.
Source: pna.gov.ph
Latest Posts in "Philippines"
- Philippines Considers VAT Cut, Fiscal Incentives to Boost Garment Industry Competitiveness
- BOC’s Zero VAT Procedures: Streamlining Export Import Logistics and Compliance for Export-Oriented Enterprises
- Philippines Extends E-Invoicing Compliance Deadline for Large Taxpayers to December 31, 2026
- Philippine Tax Court Partially Grants Petition, Invalidates VAT and Compromise Penalty Assessments
- Supreme Court Rules Condominium Association Dues Not Subject to Value-Added Tax (VAT)
