Scribd Logo
Upload

Welcome to Scribd!

  • 83 views

    81011RMC No 2-2014

    Uploaded by

    Dante Bauson Julian
    This document is a revenue memorandum circular from the Bureau of Internal Revenue in the Philippines regarding the issuance of official receipts as evidence of payment. It clarifies that sales invoices, not official receipts, should be issued as the principal evidence of sale for goods and properties. Official receipts should only be issued as principal evidence for sale of services and lease of properties. It re-iterates rules from previous revenue regulations and memorandums that sales invoices are sufficient evidence for audits in sale of goods, and that supplementary receipts can be issued upon collection of accounts to evidence receipt of payment. The circular instructs all internal revenue officials to adhere to these policies on issuance of receipts and examination of payment evidence.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    81011RMC No 2-2014

    Uploaded by

    Dante Bauson Julian
    83 views2 pages
    This document is a revenue memorandum circular from the Bureau of Internal Revenue in the Philippines regarding the issuance of official receipts as evidence of payment. It clarifies that sales invoices, not official receipts, should be issued as the principal evidence of sale for goods and properties. Official receipts should only be issued as principal evidence for sale of services and lease of properties. It re-iterates rules from previous revenue regulations and memorandums that sales invoices are sufficient evidence for audits in sale of goods, and that supplementary receipts can be issued upon collection of accounts to evidence receipt of payment. The circular instructs all internal revenue officials to adhere to these policies on issuance of receipts and examination of payment evidence.

    Original Description:

    Revenue Regulations 2-2014

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document is a revenue memorandum circular from the Bureau of Internal Revenue in the Philippines regarding the issuance of official receipts as evidence of payment. It clarifies that sales invoices, not official receipts, should be issued as the principal evidence of sale for goods and properties. Official receipts should only be issued as principal evidence for sale of services and lease of properties. It re-iterates rules from previous revenue regulations and memorandums that sales invoices are sufficient evidence for audits in sale of goods, and that supplementary receipts can be issued upon collection of accounts to evidence receipt of payment. The circular instructs all internal revenue officials to adhere to these policies on issuance of receipts and examination of payment evidence.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    83 views2 pages

    81011RMC No 2-2014

    Uploaded by

    Dante Bauson Julian
    This document is a revenue memorandum circular from the Bureau of Internal Revenue in the Philippines regarding the issuance of official receipts as evidence of payment. It clarifies that sales invoices, not official receipts, should be issued as the principal evidence of sale for goods and properties. Official receipts should only be issued as principal evidence for sale of services and lease of properties. It re-iterates rules from previous revenue regulations and memorandums that sales invoices are sufficient evidence for audits in sale of goods, and that supplementary receipts can be issued upon collection of accounts to evidence receipt of payment. The circular instructs all internal revenue officials to adhere to these policies on issuance of receipts and examination of payment evidence.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    REPUBLIC OF THE PHILIPPINES

    DEPARTMENT OF FINANCE
    BUREAU OF INTERNAL REVENUE
    Quezon City

    January 13, 2014

    REVENUE MEMORANDUM CIRCULAR NO. 2-2014

    SUBJECT : Clarification on the Issuance of Official Receipt as Required by
    Government Auditors as Evidence of Receipt of Payment for
    Disbursements Where the Payee/Recipient is a Dealer, Supplier
    or Any Business Establishment Required by the Bureau of Internal
    Revenue to Issue Such

    TO : All Internal Revenue Officers, Commission on Audit (COA)
    Officers, Business Establishments, and Others Concerned

    The Bureau has been receiving numerous queries regarding the requirement of
    Government Auditors on the issuance of Official Receipt as the acceptable evidence of
    receipt of payment for disbursements where the payee/recipient is a dealer, supplier or
    business establishment required by the BIR to issue the same in the sale/lease of goods or
    properties, and/or sale of services. That Sales Invoices are demanded as evidence of delivery,
    agreement to sell or transfer of goods and services, and Official Receipt as evidence of
    payment. In fine, both Sales Invoices and Official Receipts are required on one transaction
    by some government agencies.

    Revenue Regulations No. 18-2012 and Revenue Memorandum Order (RMO) No. 12-
    2013 in relation to Sections 106, 108, 113 and other pertinent provisions of the National
    Internal Revenue Code (NIRC), as amended, mandate that:

    1. Sales Invoice (Cash or Charge) shall be issued as Principal evidence in the sale
    of goods and/or properties;
    2. Official Receipt shall be issued as Principal evidence in the sale of services and/or
    lease of properties; and
    3. Commercial Receipts/Invoices such as delivery receipts, order slips, purchase
    orders, provisional receipts, acknowledgment receipts, collection receipts,
    credit/debit memo, job orders and other similar documents that form part of the
    accounting records of the taxpayer and/or issued to their customers evidencing
    delivery, agreement to sell or transfer of goods and services, shall be
    Supplementary evidence only.

    In relation thereto, Section II (H) of RMO No. 12-2013 provides that:

    II. POLICIES

    xxx

    H. The buyer of goods on account or credit evidenced by a Charge
    Sales Invoice shall be entitled to claim input taxes. Upon collection
    of the account by the seller, a Collection Receipt (Supplementary


    Receipt) shall be issued to the client/buyer to evidence the receipt
    thereof;

    xxx

    Based on the foregoing, the Sales Invoice shall serve in lieu of Official Receipt in the
    sale of goods or properties for evidentiary purposes in terms of audit.

    In view thereof, this Circular is hereby issued to reiterate that the provisions set forth
    in RR No. 18-2012 and RMO No. 12-2013, in the issuance of Principal and/or
    Supplementary Receipts/Invoices in the ordinary course of business and the consequent
    examination of evidence of receipt of payment, shall be strictly observed.

    All internal revenue officials and employees are hereby enjoined to give this Circular
    as wide a publicity as possible.



    (Original Signed)
    KIM S. JACINTO-HENARES
    Commissioner of Internal Revenue

    H-2

    You might also like