Tax Update: Information that should be reflected on Cash Register Machine tape/receipt (RMC 64-15)
The BIR reiterates the information requirements that must be shown on receipts/invoices/other commercial invoices generated from CRM/POS/software pursuant to Revenue Regulations (RR) No. 10-2015 and RR No. 11-2004, in relation to RR No. 16-2005 regarding the Value-Added Tax (VAT) receipts/invoices.
Pursuant to Section 113(B) of the Tax Code, as amended and Sec. 4.113-1 (B) of RR No. 16-2005, the following information of purchaser, customer or client must be indicated on the VAT receipts/invoices, in the case of sales amounting to One thousand pesos (P1,000.00) or more and the sale is made to a VAT-registered person:
- Name of purchaser, customer or client;
- Taxpayer Identification Number (TIN); and
- Business style, if any.
Hence, the abovementioned information must also be reflected on the receipts/invoices generated from CRM/POS machines; otherwise, if the CRM/POS is not capable of showing the said requirements, a manually preprinted receipts/invoices with approved Authority to Print (ATP) must be issued to the purchas6r, customer or client based on the existing provisions of the Bureau.
Further, any purchase of goods/services with receipts/invoices generated from CRM/POS/software are mandated to show the said requisites for the valid claim of input tax credit by VAT-registered taxpayer, as provided by Section 4-110-8 of RR No. 16-2005 and in reference to Section 113 and 237 of the Tax Code.
Failure to comply with the said requirements shall be subject to corresponding penalties pursuant to RMO No. 7-2015 and other existing revenue issuances.
For the whole circular see >> BIR (RMC 64-15)