Type: Legislation
The Philippines Bureau of Internal Revenue (BIR) implemented mandatory VAT e-invoicing for around 100 major taxpayers on July 1, 2022, under the Tax Reform for Acceleration and Inclusion Act (TRAIN) Act. This system involves real-time transaction reporting directly to the authorities, using digital signatures and JSON format for invoices, eliminating the need for pre-clearance.
Now, the BIR plans to expand this requirement to all taxpayers, starting from January 1, 2024. Stay informed on global VAT invoice transactions and e-invoicing news with VAT Calc’s real-time reporting and subscribe to our global VAT and GST newsletter for updates.
Effective date: 1 January 2024
