September 21, 2015
REVENUE REGULATIONS NO. 10-15
| SUBJECT | : | Use of Non-Thermal Paper for All Cash Register Machines (CRMs)/Point-of-Sales (POS) Machines and Other Invoice/Receipt Generating Machine/Software |
| TO | : | All Business Establishments, Internal Revenue Officials and Employees and Others Concerned |
SECTION 1. Scope. — Pursuant to the provisions of Section 244, in relation to Sections 203, 222 and 235 of the National Internal Revenue Code of 1997 (NIRC), as amended, these Regulations is hereby promulgated to mandate the use of Non-thermal paper for all CRM/POS and other invoice/receipt-generating machine/software.
SECTION 2. Background. — Pursuant to Section 1 of Revenue Regulations No. 5-2014, which states that:
"Section 1. Section 2 of Revenue Regulations No. 17-2013 is hereby amended to read as follows:"
"xxx xxx xxx
Section 2. Retention Periods. — All taxpayers are required to preserve their books of accounts, including subsidiary books and other accounting records, for a period of Ten (10) years reckoned from the day following the deadline in filing a return, of if filed after the deadline, from the date of the filing of the return, for the taxable...
