BIR orders shops to post new receipt notices

THE Bureau of Internal Revenue (BIR) has ordered commercial establishments to adopt a new format of notice informing their customers about the shops’ duty to issue receipts.

The new format is expected to enhance revenue collection by asking the public to demand receipts or sales invoices from the seller.

Shops must post the notices in their places of business, including branches and mobile stores according to a revenue regulation signed by Finance Secretary Carlos G. Dominguez on Nov. 18.

The new format will take effect 15 days after the circular is published in two newspapers.

The notice will include the name of the business, its registered name, its taxpayer identification number (TIN) and the branch code.

The notices must be posted within the shop an an areas that is conspicuous, it said. Businesses who violate the order may face two to four years of imprisonment. — Beatrice M. Laforga