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Official Receipt Price for Philippines

Official Receipt Price Template for Philippines

An Official Receipt is a mandatory financial document in the Philippines that serves as proof of a completed transaction and complies with the requirements set forth by the Bureau of Internal Revenue (BIR). It documents the transfer of goods or services, including detailed pricing information, tax computations, and payment details. The document must adhere to Philippine tax laws, particularly BIR Revenue Regulations No. 16-2005, and includes specific elements such as the company's TIN, BIR permit numbers, and VAT information where applicable. It serves both as a legal record of the transaction and a crucial document for tax reporting and business accounting purposes.

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What is a Official Receipt Price?

The Official Receipt Price document is a fundamental business document required under Philippine law for all registered businesses conducting commercial transactions. This document type must comply with the National Internal Revenue Code and specific BIR regulations governing receipt issuance. The Official Receipt Price serves multiple purposes: it provides customers with proof of purchase, helps businesses maintain accurate financial records, and ensures proper tax reporting to authorities. It must include specific pricing details, tax computations, and business identification information as mandated by Philippine tax laws. The document is crucial for both the issuing business's tax compliance and for customers who may need to claim expenses or maintain their own financial records. It's particularly important in the context of VAT-registered businesses and for transactions that require detailed price breakdowns for tax purposes.

What sections should be included in a Official Receipt Price?

1. Receipt Header: Business name, TIN, address, and contact details of the issuing entity

2. Receipt Number: Unique serial number of the receipt as registered with BIR

3. Date and Time: Date and time when the transaction occurred

4. Customer Information: Name and address of the customer (if available)

5. Transaction Details: Itemized list of goods/services with quantities and unit prices

6. Amount Breakdown: Subtotal, applicable taxes (VAT/percentage tax), and total amount

7. Payment Information: Mode of payment and payment status

8. Authorization: BIR authorization details including PTU (Permit to Use) number

What sections are optional to include in a Official Receipt Price?

1. Customer TIN: Required only for B2B transactions or when claimed as business expense

2. VAT Registration Details: Required only for VAT-registered businesses

3. Senior Citizen/PWD Information: Required when special discounts are applied under relevant laws

4. Terms and Conditions: Optional section for return policies, warranties, or other relevant terms

5. Loyalty Program Information: Optional section for points earned or rewards information

What schedules should be included in a Official Receipt Price?

1. Discount Computation: Detailed breakdown of applied discounts (if any)

2. Tax Computation: Detailed breakdown of tax calculations (particularly for complex transactions)

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Philippines

Publisher

Ƶ

Document Type

Invoice Form

Sector

Sales

Cost

Free to use
Relevant legal definitions




















Clauses














Relevant Industries

Retail

Wholesale

Manufacturing

Professional Services

Healthcare

Education

Food and Beverage

Construction

Real Estate

Information Technology

Transportation

Hospitality

Financial Services

Consulting

Relevant Teams

Finance

Accounting

Tax

Compliance

Operations

Sales

Administration

Treasury

Internal Audit

Revenue Management

Relevant Roles

Accountant

Bookkeeper

Finance Manager

Tax Compliance Officer

Business Owner

Store Manager

Cashier

Financial Controller

Audit Manager

Sales Manager

Operations Manager

Business Development Manager

Administrative Officer

Chief Financial Officer

Treasury Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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