Revenue Regulations (RR) No. 12-2015 has recently issued by the CIR of the BIR for the amendment of Section 8 of RR No. 10-2015 with details as follows:
SECTION 2. AMENDMENT. Section 8 of RR No. 10-2015, is hereby amended to be read as follows:
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SECTION 8. TRANSITORY PROVISIONS. - In order to provide ample time in procuring, reconfiguring machines and systems, to comply with Section 5, adjustments shall be undertaken on or before October 31, 2015. Any extension due to enhancements of systems required to be undertaken abroad shall seek the approval from the concerned Regional Director or ACIR, Large Taxpayer Service which shall not be longer than six (6) months from the effectivity of these Regulations.
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SECTION 3. EFFECTIVITY. The provisions of these Regulations shall take effect immediately.
Please refer: http://www.bir.gov.ph/images/bir_files/internal_communications_1/Full%20Text%20RR%202015/RR%20No.%2012-2015.pdf of the full text of RR No. 12-2015.
