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Casino asks BIR to extend deadline of new regulations on issuing receipts means BUSINESS

A partylist lawmaker on Monday appealed to the Bureau of Internal Revenue (BIR) to extend the deadline for a new regulation governing the issuance of invoices and receipts.

Businesses need more time to have new receipts printed, Bayan Muna partylist Representative Teddy Casino said on Monday. 

Casino, chairperson of the congressional committee on small business and entrepreneurship development, made the appeal after listening to  concerns of small and medium businesses regarding the new policy under Revenue Regulations No. 18-2012.

The new revenue regulation requires all businesses operating in the country to apply for a new authority to print (ATP) receipts with the BIR no later than April 30. They should also issue and use the new receipts starting July 1.

"While they are supportive of efforts and reforms to address the problem of fake receipts, (many businesses) find the deadline unreasonable," Casiño said in a letter to BIR Commissioner Kim Jacinto-Henares.

The lawmaker said he was told by the owners and managers of the business establishments that they were notified of the new requirements only last month. He noted that many still have several receipt booklets unused.

Not only will the new receipts result in additional expenses, their old ones will be deemed useless, he said.

"Our SMEs are lamenting the lack of a public consultation and the hefty fines. Many are already going to the media to complain about the P1,000 fine for old receipts filed starting April 30. They are all the more worried about the P50,000 fine to be imposed starting July 1," he said.

"As incumbent chairperson of the Congressional Committee on Small Business and Entrepreneurship Development, I appeal to your good office to extend the deadline and give SMEs ample time at adjust and have new receipts made," Casino added.

The new regulation also required businesses to transact only with a new list of BIR-accredited printing companies. BIR employees and their relatives are disqualified from offering printing services.

Those who failed to apply for an ATP last April 30 faced a penalty of P1,000, while those who will fail to issue new receipts starting July 1 will be slapped a penalty that can go as high as P50,000.