Further extending the deadline under Revenue Regulation No. 12-2015, for adjusting CRM/POS/other similar machines
This amendment clarifies the application of PAS 19, ‘Employee contributions’ (2011) - referred to as ‘PAS 19R’, to plans that require employees or third parties to contribute towards the cost of benefits. The amendment does not affect the accounting for voluntary contributions.
Entry into Force, Effectivity and Applicability of the Philippines-Qatar Double Taxation Agreement
BIR-accreditation of sales machines/receipting software
Circularizing the Protocol Amending the Philippines-France Double Taxation Agreement
Amending RR No. 10-2015 on the use of non-thermal paper for invoice/receipt generating machines/software
Over the years, there are questions on acceptable accounting methods for depreciation and amortization. IAS 16, Property, plant and equipment, and IAS 38, Intangible assets, define depreciation and amortization, respectively, as the systematic allocation of the cost of the asset after deducting its residual value over its expected useful life.
Reiterating the information that must be shown on receipts/invoices/other commercial invoices
Amending RR No. 7-2010 on the implementation of RA No. 9994
Extending the deadline for submission of inventory lists and other requirements under RMC No. 57-2015