Taxpayers will get intrigued about the new regulations recently issued by the bureau and this is related to the New Format for the Notice to the Public to be Exhibited at Place of Business. Revenue Regulations (RR) No. 10-2019 is issued amending pertinent provision of RR No. 4-2000, as amended by RR No. 7-2005, By Providing a New Format for the Notice to the Public to be Exhibited at Place of Business.
It stated in Section 2 of the regulations which refers to Exhibition of Notice at Place of Business with purpose as follows:
For the purpose of improving revenue collection through enforcement of the legal, provision on the issuance of official receipt (OR)/soles invoice (SI) and to inform the public/buyers to require the seller to issue OR/SI, persons required by low to issue such receipts/invoices are hereby directed to post in their places of business, including branches and mobile stores, in such area conspicuous to the public, the below Notice to Issue Receipts/Invoices (NIRI):
Please refer https://www.bir.gov.ph/images/bir_files/internal_communications_1/Full%20Text%20RR%202019/RR%20No.%2010-2019.pdf of the full text of RR No. 10-2019.
