Taxpayers engaged in exports and e-commerce should start preparing to comply with the electronic invoicing requirements as the Bureau of Internal Revenue expands the coverage of its electronic invoicing system implementation, a tax expert said over the weekend.
Lawyer Rule Oporto, senior director for business tax services at SGV & Co., said the BIR was poised to roll out the project to other covered taxpayers following the pilot EIS implementation among 100 large taxpayers in July 2022.
The BIR identified an additional 100 taxpayers for this year’s roll-out, which would cover not just the large taxpayers but also those engaged in the export of goods and services as well as e-commerce.
The agency identified an additional 500 taxpayers for inclusion in the pilot by the fourth quarter, Oporto said in a webinar held by the American Chamber of Commerce of the Philippines.
EIS is an electronic platform developed by the BIR with the capability to receive, process and store data from taxpayers.
The legal bases for EIS implementation are Section 237 (issuance of receipts or sales or commercial invoices) and Section 237-A (electronic sales reporting system) of the Tax Reform for Acceleration and Inclusion Law or Republic Act No. 10963. The BIR issued last year Revenue Regulations (RR) No. 8-2022 on the policies and guidelines for the use of EIS and RR 9-2022 on the admissibility of sales documents in electronic format.