Storeowners Should Issue a Sales Invoice or Receipt for Every Sale

October 23, 1959 BIR RULING NO. 548-59 Mr. Elpidio Javellana Cadiz, Negros Occidental S i r : In answer to your letter dated June 11, 1959, please be informed as follows: Storeowners should issue a sales invoice or receipt for every sale valued at P2.00 or more. If the sale or transfer involves an amount of P50.00 or more, the name address of the purchaser and the number, date and place of issue of his residence certificate should be shown on the invoice or receipt issued for the transaction. No receipt or invoice need be issued for sales or transfers less than P2.00 but the same should be recorded immediately after the transaction in the record of petty sales or transactions, the entries of which should be summarized at the end of the day and the total transferred to the journal or internal revenue sales book or book of receipts. Storeowners whose gross sales or earnings for the preceding year exceed P20,000.00 should always issue a sales invoice or receipt for every sale irrespective of the value of the sale (Sec. 204 Tax Code; Sec. 14 and 15, Bookkeeping Regulations). Storeowners who fail to comply with the foregoing rules are liable to the penalties prescribed in section 352 of the Tax Code. Any person who shall knowingly make false or fictitious entries in the books of accounts or accounting records or persons subject to internal revenue tax or who shall abet or aid in any manner in the making or writing of said entries shall be liable to a fine of not less than P500.00 nor more than P5,000 or to an imprisonment for a term of not less than 6 months and one day nor more than 5 years, or both. This rule applies to the making of false or fictitious entries in sales invoices or receipts. (Sec. 355, Tax Code). Very truly yours, (SGD.) MELECIO R. DOMINGO Commissioner of Internal Revenue