Revenue Regulations No. 16-2005

Revenue Regulations (RR) No. 16-2005, issued by the Bureau of Internal Revenue (BIR) in the Philippines, governs the requirements for the issuance, use, and printing of sales invoices, official receipts, and commercial documents. The key points are as follows:


Issuance of Receipts
All registered individuals and entities, including doctors, must issue BIR-registered sales invoices or official receipts for every sale or lease of goods, properties, or services. Receipts should be issued regardless of the amount and whether the transaction is subject to tax or tax-exempt.

Contents of Receipts
Sales invoices and official receipts should contain specific information, such as the TIN, name, and address of the seller or service provider; name, address, and TIN of the buyer or client; description of the goods or services provided; date of the transaction; and the amount paid.

Printing of Receipts
The BIR sets guidelines for printing sales invoices and official receipts. All individuals and entities must secure an Authority to Print (ATP) from the BIR before printing these documents. The ATP contains information about the printer, the serial numbers of the receipts, and the validity period.

Validity and Reprinting
Sales invoices and official receipts are valid for a period of five years from the date of printing. If the receipts are about to expire or the supply is running low, the individual or entity must apply for a new ATP and have new receipts printed.

Retention and Preservation
Individuals and entities must preserve their copies of sales invoices and official receipts for at least three years from the close of the taxable year when the transaction occurred.

Non-compliance with the provisions of RR No. 16-2005 can lead to penalties, including fines, surcharges, and possible imprisonment.


BIR Reference:
Digest | Full Text