The new Bureau of Internal Revenue (BIR) regulation requiring all businesses to replace their receipts with BIR-printed receipts is unfair to small entrepreneurs, a House leader said Thursday.
Revenue Regulations no. 18-2012 will take effect on July 1, and BIR Commissioner Kim Henares said the deadline will not be extended.
Businessmen who fail to comply with the regulations will be fined P50,000.
Rep. Teddy Casiño of Bayan Muna, chairman of the House Committee on Small Businesses and Entrepreneurship Development, said the July 1 deadline does not give enough time for the small businesses to comply since just last year certain business owners were required by the BIR to print 10 booklets each of invoices, official receipts and delivery receipts from a BIR-accredited printer using the old format.
“This is unfair. Imagine, this company has yet to consume its first of 10 booklets of receipts that BIR ordered them to procure and now they are being ordered to get new ones. Why should start-ups and small businesses like them be made to waste their resources on such an unnecessary expense?,” Casiño said.
At least 85 percent of local businesses in the country fall under the Small and Medium Enterprises.
“Can’t the BIR at least let them use up all the receipts they were required to produce before spending thousands again for a new set? Why penalize those companies that religiously followed BIR regulations and whose receipts are, for all intents and purposes, genuine?” Casiño said.
He said there are BIR Regional Offices which were only informed of the new rule on receipts just last May and didn’t have enough time to properly inform taxpayers.
Casiño urged the BIR to look into reports that accredited printers could not accommodate orders to print new receipts.
“The fine of P50,000 for non-compliance would be unfair especially if BIR’s accredited printers can’t finish the job on time because of all the rush,” he said.
LLANESCA T. PANTI