INCOMPLETE INFORMATION IN THE RECEIPTS/INVOICES -EMELINO T MAESTRO

INCOMPLETE INFORMATION IN THE RECEIPTS/INVOICES
-EMELINO T MAESTRO 

According to the BIR REGULATIONS (RMO 1-90, RMO 56-2000 & RMO 19-2007), if you failed to write down in any of your Official Receipt (sales of services) or Sales Invoice (sales of goods/properties) the required information, the initial penalty is P5,000 while for the second offence, the penalty is P10,000. Should there be a third and succeeding repetitions, a criminal complaint against you shall be filed at the Department of Justice.

So what are the required information? Pursuant to Sections 113, 237 and 238, National Internal Revenue Code, the three, but not encompassing, basic information that must be written in every Official Receipt and Sales Invoice are (1) the Name of the Buyer/Purchaser, (2) his/her/its complete name and (3) his/her/its complete address.

So what you should do if your Buyer/Purchaser failed/refused to supply the above information? The answer shall be revealed to you via email if you shall do two things, viz; (1) place your email address at the Comment space hereof and (2) share this to your friends via email. Failure to do these two things would disqualify you to get the LEGAL/CORRECT ANSWER. This Offer is valid until August 31, 2014, 5 pm. Answer-emailing will start on September 5, 2014.

IMPORTANT TOPIC
eLetter of Authority, Letter Notice & Subpoena Duces Tecum
RELEVANT DATES "Aug 14-15, 2014, Luxent Hotel, QC"

IMPORTANT TOPIC
Tax Mapping, Benchmarking & Oplan Kandado
RELEVANT DATES "Aug 18 & 19, 2014, RCBC Plaza, Makati"

IMPORTANT TOPIC
Tax Accounting Course for VAT-reg. Small & Medium Enterprisess
RELEVANT DATES "Aug 21-22, 2014, Luxent Hotel, QC"

IMPORTANT TOPIC
Estate Planning/Wealth Protection
RELEVANT DATES "Aug 25, 27 & 29, 2017, Luxent Hotel, QC"

IMPORTANT TOPIC
Tax Accounting Course for VAT-reg. Small & Medium Enterprises
RELEVANT DATES "Sep 25-26, 2014, SEDA, Davao City"

RELEVANT WARNING...
DISAPPOINTING/DISGUSTING TO SEE/LEARN THAT THE PRIORITY OF SOME OF THE MEMBERS OF A CPA ORGANISATION IS TO GET A PICTURE-OPPORTUNITY WITH BIR OFFICIALS HAVING QUESTIONABLE CHARACTER/BEHAVIOUR. Meaning, these CPAs have also selfish and unhealthy motives/character/behaviour so beware and be aware who are these CPAs. Don't associate yourselves with them. LEARN THE TAX CODE. TRUST BUT VERIFY.

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