A sales invoice is issued by the seller to the buyer as written evidence on sale of goods or properties in an ordinary course of business, whether cash or on account (credit). It also list down the details of the items or goods sold. It will also be the basis of the output tax liability of the seller and the input tax claim of the buyer.
An Official Receipt is a document that proves that there is a sale of service or product. If you will receive funds from another person or business entity, you are required to issue a receipt for every sale of service or product. Whether you are a single proprietorship, a partnership, a cooperative or a corporation, the Bureau of Internal Revenue requires that you have an official receipt made within 1 month of establishing a new business entity. Failure to produce an official receipt within that 1 month will result in penalties of Php 10,000.00 or more, depending on the delay.
If you don't issue a receipt for a transaction, you will incur a criminal penalty fine of at least Php 10,000.00 but not more than Php 50,000.00 and imprisonment of not less than four years.
Accredited BIR Printer
Not all printers can make official receipts. The printing company must be accredited by the BIR and must have an Authority To Print in order to supply O.R.'s to the public.
BIR Requirements for New Registrations
New Companies/Business Entities
Application Form or Certificate of Registration (Form 1906 for Self-Employed & Mixed Income Individuals, Partnerships and Corporations)
Annual Registration Fee (Form 0605)
BIR Requirements for Old Registrations
Existing Companies With Previous OR's
Previous Certificate of Registration (Form 1901 for Self-Employed & Mixed Income Individuals, Form 1906 for Partnerships and Corporations)
Annual Registration Fee (Form 0605)
Copy of Previous Printer Certificate
Copy of Previous Authority To Print
Last O.R. Booklet