The Philippines advances the implementation of its new e-Invoicing system (EIS). The Bureau of Internal Revenue (BIR) has announced that it will go live as of July 2022, making it mandatory to electronically invoice for the 100 largest taxpayers in the country.
The BIR intends to reduce VAT tax fraud and facilitate tax compliance processes for taxpayers and the tax authority.
The new EIS system is part of the Comprehensive Tax Reform Program (CTRP) introduced by the ministry of finance, which is looking to digitalize the tax and administrative systems in the Philippines.
The pilot Project is currently being implemented and EDICOM is participating with many of its clients.
Source Edicom
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