Tax Compliance Verification Drive is one of the programs of the Bureau of Internal Revenue inspecting business establishments across the country, to verify compliance with registration, invoicing and bookkeeping requirements provided for under existing internal revenue laws, rules and regulations.
However, the issuance of Reminder Letter to all business establishments during tax mapping operations is a requirement to be able to have an ample time for all businesses to prepare the important requirements at the time of tax mapping.
Needs to Do for Every Establishment of the Tax Compliance Verification Drive as follows:
1. Register your business with the BIR.
2. Display the BIR Certificate of Registration, the Registration Fee for the Current Year and "Notice to the Public/Ask for Receipt" signage in the place of business.
3. Issue registered invoices/receipts for sales of goods or services. Register the Cash Register Machines, Point-Of Sale machines, or other similar devices (if any).
4. Register and maintain Books of Accounts in the business premises.
5. Withhold taxes on compensation of employees, and on payments subject to final and expanded withholding tax and remit the correct tax as withheld.
6. File the necessary returns and pay the corresponding correct taxes at time/s required by law.
Please refer http://www.bir.gov.ph/images/bir_files/old_files/others/annex_d_page1.jpg and http://www.bir.gov.ph/images/bir_files/old_files/others/annex_d_page2.jpg of the full text of Tax Compliance Verification Drive and detailed BIR Requirements, respectively.
