The Bureau of Internal Revenue has recently issued Revenue Memorandum Circular ("RMC") No. 36-2015 dated 29 June 2015, requiring a one-time submission of inventory list of CRM/POS, and providing the guidelines therefor. Under the RMC, all concerned taxpayers are mandated to submit an inventory list as of 30 June 2015 of cash register machines ("CRM"), point of sale machines ("POS"), special purpose machines ("SPM") and other similar machines generating sales invoices/receipts used by business establishments in business operations or otherwise, and are physically located in said business premises.
Deadline for submission of the inventory list is on 31 July 2015. Failure to submit within the deadline will lead to the following penalties:
- Automatic revocation of permit to use
- Penalty of P1,000 for failure to submit information return
- Inclusion in the priority list for audit
Please click on this link to get a copy of the RMC.