The BIR also stated that the signature of the SC/PWD is not required if the qualified purchase was made online or through mobile applications. However, the SC/PWD identification card number should still be provided.
Lawyer Rule Oporto, a tax expert and senior director for business tax services at SGV & Co., has urged businesses engaged in exports and e-commerce to comply with the invoicing requirements as the Bureau of Internal Revenue (BIR) is expanding the coverage of its electronic invoicing system (EIC) implementation.
A UP Law professor explained that the current tax system was developed for brick-and-mortar or traditional businesses with a physical location and is not applicable for e-commerce firms.
BIR deputy commissioner Marissa Cabreros has stressed the need for taxation in the digital economy to level the playing field between traditional enterprises and digital businesses as the economy shifts from brick-and-mortar to virtual.
The BIR has issued a circular which provides the guidelines for the filing of the annual income tax returns and the payment of the corresponding taxes with any authorized agent banks and revenue collection officers without the imposition of penalties for wrong venue filing.
The BIR said that online updating of registration information as well as other registration-related transactions can now be conducted through its new Online Registration and Update System (ORUS).
In June of 2021, the country’s Bureau of Internal Revenue (BIR) launched a 24/7 chatbot application powered by the Oracle Digital Assistant platform to provide taxpayers and stakeholders access to information on frequently asked questions (FAQs) or contact to live agents that can provide clarifications on the answers supplied by the digital assistant.
Department of Finance (DOF) secretary Benjamin Diokno identified digitalization as the key in transforming and eradicating corruption within the government’s two main revenue agencies.
In media interviews after the announcement of her appointment as BIR chief, Lilia C. Guillermo also said she’s keen on going after social media influencers and professionals in a bid to raise revenues for the government.
The SEC’s Electronic Simplified Processing of Application for Registration of Company (eSPARC) will be enhanced to facilitate one-time payment of both SEC and BIR registration fees by the third quarter of 2022.
