Philippines: Guidance on updated invoicing requirements

Requirement to issue an invoice for both sales of goods and services

August 1, 2024

The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular No. 77-2024 (dated July 11, 2024) to clarify the invoicing requirements provided under Revenue Regulations No. 7-2024 (read TaxNewsFlash), as amended by RR No. 11-2024, particularly regarding the requirement to issue an invoice for both sales of goods and services.

Read a July 2024 report prepared by the KPMG member firm in the Philippines

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