Daily News

BIR eases requirements for public infrastructure contracts

The Bureau of Internal Revenue (BIR) has simplified the requirements for contractors of public infrastructure projects, in another effort to improve the ease of doing business in the country and to expedite the disbursement of funds. In a memorandum order, Internal Revenue Commissioner Caesar Dulay revoked the provisions of RMO 12-2015, which prescribed the requirements needed to be filed by contractors for the release of their payments on government projects. The BIR said the new form should be posted by businesses in areas conspicuous to the public to remind buyers to require the seller to issue an official receipt or sales invoice. This would also improve the government’s revenue collection through strengthened enforcement.