- Implementation Timeline: The Bureau of Internal Revenue (BIR) has mandated that large taxpayers and e-commerce businesses must issue electronic invoices and report sales electronically by March 2026, following the issuance of Revenue Regulation No. 011-2025 under the CREATE MORE law.
- Tax Incentives for Compliance: Businesses that comply with the new electronic invoicing requirements, including those that voluntarily adopt the system, will be eligible for tax incentives aimed at enhancing compliance and transparency in tax processes.
- Electronic Invoicing System (EIS): The EIS is designed to receive, process, and store sales data transmitted by taxpayers in real or near real time, requiring invoices to be sent to the BIR within three days of a transaction. The system includes specific information requirements for electronic invoices and employs a JSON format for document submission and validation.
Source Edicom
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
Latest Posts in "Philippines"
- Kiko Barzaga Proposes Abolishing 12% VAT for Greater Financial Freedom in the Philippines
- VAT Reduction to 10% Risks Fiscal Deficit, Benefits Wealthy, Warns Philippine Finance Department
- BIR Collects P2.8B from Digital Services VAT, Exceeds Compliance Expectations with 371 DSPs Registered
- BIR Falls Short of VAT Collection Target by P6.37 Billion in First Seven Months
- Philippine Court Clarifies Input VAT Refunds for Zero-Rated Sales in Electricity Sector Case