This notice is intended for customers with the Southeast Asia Localization SuiteApp (Bundle ID 298382) installed in your NetSuite account. The Southeast Asia Localization SuiteApp version 7.00.0 is targeted for release on December 03, 2024.
What is Changing?
To comply with Republic Act No. 11976, or the Ease of Paying Taxes (EOPT) Act, Southeast Asia Localization version 7.00.0 will be released on December 03, 2024 to include updates to the following Philippines invoicing features:
Official Receipts updates Official receipts will be classified as supplementary documents and will no longer be a valid proof to support the claim of input tax by buyers or purchasers of goods and/or services. Invoices will be the primary support document for VAT purposes. With this, the following changes will be introduced:
In Philippines Official Receipt PDF/HTML Template, the phrase “THIS DOCUMENT IS NOT VALID FOR CLAIM OF INPUT TAX” will appear in the footer section. When printing official receipts with multiple pages, the footer phrase appears on the bottom of the document.
Philippines Official Receipt PDF/HTML Template (Without Footer Phrase) will be removed and can no longer be used. If you use this template, refer to the corresponding required action below for specific instructions.
The Tax Summary section will be removed in collection receipts or official receipts because they are no longer the basis of output tax liability for sellers and input tax claims for buyers. However, for existing payment transactions that have not yet been printed or for those which are already printed prior to this release, including reprint transactions, the Tax Summary section remains.
For information about the updated details, see the help topic BIR-Required Details starting December 10, 2024.
New invoice template formats for single type VAT transactions The following are new invoice template formats for VAT-Zero Rated Sale or VAT-Exempt Sale transactions:
Zero-rated sales invoice – This is used if all items in a transaction are subject to zero percent (0%) VAT. This invoice includes the following details:
The phrase “ZERO-RATED SALE” appears in the header.
The label “Total Zero-rated Sales” is used for the total amount of sale.
VAT-exempt sales invoice – This is used if all items in a transaction are exempt from VAT. This invoice includes the following details:
The phrase “VAT-EXEMPT SALE” appears in the header.
The label “Total VAT-Exempt Sales” is used for the total amount of sale.
The phrase “THIS DOCUMENT IS NOT VALID FOR CLAIM OF INPUT TAX” appears on the bottom of the document.
New Tax Summary breakdown for mixed transactions For mixed transactions, the sales involved are broken down into VATable Sales, VAT Amount, VAT Exempt Sales, and Zero-Rated Sales in the Tax Summary section. For single type VAT transactions, such as line-items that are purely zero-rated or VAT-exempted, the Tax Summary section no longer appears.
New Transaction Total Summary breakdown for mixed transactions For mixed transactions, VAT details are broken down into Less: VAT, Amount: Net of VAT, and Add: VAT when the Print Inclusive of VAT box is checked for subsidiaries. For more information about including VAT details on printed Philippines documents, see the help topic Displaying VAT Breakdown starting December 10, 2024.
Renaming of invoices or payments You can rename your invoices or payments and use a document title that fits your business needs (for example, Service Invoice or Charge Invoice). Refer to the help topic Renaming Philippines Documents for instructions. Important: Because the SuiteApp only supports charge type invoices, when you rename invoices, do not use words that may indicate that the Philippines document is a cash type invoice. For example, do not use Cash Invoice as a document name.
Required Action
Depending on your settings, refer to the following table for applicable action items that you can implement starting December 03, 2024:
Enhancement
Action Item
Official receipts as supplementary documents
If you use the discontinued Philippines Official Receipt PDF / HTML Template (Without Footer Phrase), you must update your custom form to use Philippines Official Receipt PDF / HTML Template. Refer to Mapping Preformatted Document Types and Templates to Transaction Forms for instructions. Important: If you print a transaction that is associated with a deleted template, an error may occur.
Renaming of invoices or payments
If you need to rename your invoices or payments, refer to the help topic Renaming Philippines Documents for instructions.