RECENTLY, the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) 18-2012 and 15-2012 for the proper monitoring of compliance in Authority to Print (ATP) of accountable forms such as official receipts, sales invoices and other commercial receipts. Personally, I think these regulations are good to have full control of businesses that are issuing commercial receipts/invoices without proper authority from the BIR for the purpose of avoiding taxes and cases wherein certain businesses are still issuing invoices and receipts that have been printed several years ago. There are also unscrupulous printers who printed accountable forms for innocent businessmen without proper authority from the BIR. These businessmen thought they are using authorized forms, only to learn later that there is no authority to print these invoices. Thus, a list of accredited printers per revenue district office will be posted on the BIR web site as a reference for the public.
This year all printers for BIR accountable forms should apply for accreditation with the BIR, since businesses are required to have these forms printed only by duly accredited printers. Certain requirements to be accredited as printers include a minimum of three years in the business of printing, and the one printing should not be related or connected to any BIR officer or employee within the fourth civil degree of consanguinity or affinity.
With the latest regulations, there is a specific classification as to principal and supplementary receipts/invoices (whether VAT or not)—principal forms include sales invoice and official receipts, while delivery receipts, order slips and other related forms are considered supplementary. There is also a definition of the use of the sales invoice and official receipt: sales invoice is issued for the sale of goods and/or properties, while official receipts are issued for the sale of service and/or leasing of properties.
Here is a very important thing for all businesses to note: RR 18-2012 Section 5 provides that all unused/unissued principal and supplementary receipts and invoices printed prior to the effectivity of these regulations shall be valid only until June 30, 2013, and shall be surrendered to the RDO on or before the 10th day after the validity period of the expired receipts/invoices. One practitioner whose client had 1,000-plus pads of invoices printed in December 2012 has no choice but to surrender the unused forms by the due date, which they think would be really many unused forms by June 2013, based on the average number of forms they use per month. The only consolation is that the business can deduct this printing expense from its income for 2012, but if the business is already losing, this is just additional loss and the hassle of having to go through the process of having new forms printed by its printers remains.
The good thing about these regulations is that the public will be assured that they are dealing with legitimate businesses and for the BIR to be able to closely monitor payment of taxes. And like any new regulations, there may be difficulties and hassles, especially for the business sector, in having to renew their ATP for their invoices/receipts every five years and surrendering the same. Prior to these regulations, businesses can keep their unused receipts/invoices for as long as they can without having to surrender these to the BIR. But with these regulations, they should better gather these forms this early for surrender to the BIR for these are only valid until June 30, 2013, or else they pay the penalties.
The writer is chairman of the Finex publications committee; managing partner of Inventor, Miranda & Associate, CPAs; and treasurer of KPS Outsourcing Inc. The views expressed here are her own and do not necessarily reflect the opinions of the institutions.