THE upcoming implementation of the Electronic Invoicing/Receipting System (EIS) is expected to pave the way for easier compliance monitoring, opening opportunities to broaden the tax base and higher tax collections — something the government needs badly in the continuing response to and recovery from the pandemic.

As mandated by the Tax Reform for Acceleration and Inclusion Act, the Bureau of Internal Revenue (BIR) is in charge of preparing and implementing the shift from traditional to electronic means of issuing invoices, starting with the EIS' pilot implementation on July 1, 2022 and full implementation on Jan. 1, 2023. Development is being funded by the Korea International Cooperation Agency via a $7.3-million grant.

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