Customer info needed in VAT receipts, says BIR

MANILA, Philippines - The Bureau of Internal Revenue said yesterday receipts for value-added tax transactions should carry the name of the customer, address, and taxpayer identification number.

In Revenue Memorandum Circular 64-2015 signed Oct. 2, BIR commissioner Kim Henares stressed the need for information requirements that must be shown on receipts, invoices, and other commercial invoices generated from cash register machines, point of sale machines, and other software.

The following information should be contained in VAT receipts: name of purchaser or customer, his or her address, taxpayer identification number, and business style, if any.

Henares said this is line with Section 113(B) of the Tax Code as amended in which information of the purchaser or client must be indicated on VAT receipts in the case of sales amounting to P1,000 or more and made to a VAT-registered person or entity.

She noted if the machines are not able to print those requirements on the receipts or invoices, a manually-printed receipt or invoice should be issued to the customer.

These manually-printed receipts should have an approved authority to print issued by the bureau and should be based on existing provisions of the tax agency.

Henares said the additional information printed on the receipts is important for the claim of input tax credit made by the VAT-registered customer.

Businesses found non-compliant on the requirements would be slapped with monetary fines.