- The Philippines Bureau of Internal Revenue (BIR) has extended the deadline for mandatory structured e-invoicing to December 31, 2026.
- The CREATE MORE Act removed the previous five-year implementation deadline and introduced tax deduction benefits for early adopters of e-invoicing and e-reporting.
- The scope of mandatory e-invoicing now includes large taxpayers, e-commerce businesses, exporters, users of computerized accounting systems, POS systems, and other specified taxable persons.
- The new system requires e-invoices to be issued in a structured data format for electronic extraction and transmission to the BIR, replacing non-structured formats like PDFs.
- The transition aims to improve transparency and enable real-time tax data collection through Continuous Transaction Controls (CTC) e-reporting.
Source: vatabout.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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