BIR exempts small farmers from issuing receipts
The Bureau of Internal Revenue main office in Quezon City. INQUIRER PHOTO
MANILA, Philippines — The Bureau of Internal Revenue (BIR) on Monday exempted small farmers from issuing receipts in the conduct of their trade.
According to the BIR in a statement by the Presidential Communications Office (PCO), BIR Commissioner Romeo Lumagui Jr. said those exempted are individuals who are suppliers, producers or sellers, contract growers, and millers of Agricultural Food Products whose annual gross sales do not exceed P1 million.
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“Small farmers do not need to issue receipts. The BIR will do its part in making the lives of our farmers easier. The BIR will only require receipts if their annual gross sales/receipts exceed 1M,” Lumagui stated.
Lumagui also removed the requirement of principal and supplementary gross sales or receipts for the sale of Agricultural Food Products by small farmers.
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The BIR said agricultural food products refer to products in their original state which are generally used for yielding or producing food for human consumption, such as farm produce, livestock, poultry, marine products, ordinary salt, and agricultural inputs.
Products that have undergone the simple process of preparation or preservation for the market are also covered.
