ZCCIFI lauds 60-day extension of new invoicing requirement PDF Print E-mail
Thursday, 13 June 2013 12:58

Zamboanga Chamber of Commerce and Industry Foundation Inc. (ZCCIFI) President Pedro Rufo “Pocholo” N. Soliven has commended BIR Commissioner Kim Henares for heeding to the clamor of the business community particularly the small business enterprises (SMEs) that comprise the bulk and the true engine of growth of the economy by extending for another 60 days the new invoicing requirement that should have taken effect on June 30.

Revenue Regulation No. 18-2012 requires taxpayers to secure new ATP (Authority to Print) and turnover all the unused receipts to BIR for destruction. The new BIR regulation aims to regulate further the printing of all invoices  to give more detailed information to BIR.

Soliven thanked Commissioner Henares for the reconsideration and extension which her office had denied earlier.

The appeal for reconsideration was made by the Philippine Chamber of Commerce and Industry.

However Soliven lamented that so many business establishments and businessmen are not aware of or clueless on the new revenue regulation,

He suggested a massive dissemination campaign prior to full implementation because most taxpayers and business practitioners are confused with the new ruling  of BIR regarding invoices, including the process where the authority to print which you need to get on line and the names of the printing presses accredited by BIR.

Soliven moreover appealed for BIR to study and review futher the imposition of P1,000 penalty on each business establishment for non-compliance due to late filing.

“This is quite burdensome for those small enterprises that are barely surviving, while we admit that ignorance of the law excuses no one from compliance therewith, but we further appeal to BIR in waiving the P1,000 penalty and  that the imposition should not be made unilateral and sweeping. — Albert Francisco III