Tax Notes: New way of registering books of accounts via BIR’s Orus

The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) 3-2023 to amend Section 2 of RMC 19-2019, which provides that all books of accounts shall be registered online through the BIR’s Online Registration and Update System (Orus) facility. A Quick Response (QR) code will be generated as proof of registration.

RMC 3-2023 further reiterated the deadline and frequency of registering the books of accounts as follows:

For New Business Registrants

1. Manual Books of Accounts

Deadline: Before the deadline for filing of the initial quarterly or annual income tax return, whichever comes earlier

Frequency: Before the full consumption of the pages of the previously registered books

For Existing Business Taxpayers or Subsequent Registration

1. Manual Books of Accounts

Deadline: Before the use of books

Frequency: Before the full consumption of the pages of the previously registered books

2. Permanently Bound Loose Leaf of Accounts

Deadline: Within 15 days after the end of each taxable year or within 15 days from the closure of business operations, whichever comes earlier, unless extended by the BIR, upon the request of the taxpayer before the lapse of the said period

Frequency: Annual

3. Computerized Books of Accounts

Deadline: Within 30 days after the end of each taxable year or within 30 days from the closure of business operations, whichever comes earlier, unless extended by the BIR, upon the request of the taxpayer before the lapse of the said period

Frequency: Annual

Furthermore, it is not necessary to register new sets of manual books of accounts every year.

Prior to the issuance of RMC No. 3-2023, manual stamping of accounts was needed to register the books of accounts.

Please be guided accordingly.

Source:

P&A Grant Thornton

Certified Public Accountants