- Mandatory Compliance for Specific Taxpayers: The new Revenue Regulations by the Philippines Bureau of Internal Revenue require mandatory electronic invoicing and sales reporting for companies engaged in e-commerce, large taxpayers, and entities within the Large Taxpayer Service, with a compliance deadline set for March 2026.
- Implementation of Electronic Sales Reporting System (ESRS): Taxpayers must electronically transmit sales data in structured formats (e.g., JSON or XML) to the BIR, avoiding traditional formats like PDFs, to facilitate efficient data analysis.
- Incentives and Penalties: Businesses adopting the new systems can receive tax deductions (100% for micro and small taxpayers, 50% for medium and large taxpayers), while non-compliance may result in penalties under the Tax Code. A transitional period is provided for initial compliance groups to adapt to these changes.
Source RTCsuite
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