Coverage: which receipts are affected
- The extension covers unused/unissued principal and supplementary receipts/invoices that were printed prior to January 18, 2013.
- The validity extension applies to those receipts/invoices that remain unused/unissued.
- The Circular treats compliance actions (replacement printing application and surrender) as tied to the new principal and supplementary receipts/invoices issued after the required replacement process.
Validity period and expiration rule
- After August 30, 2013, all principal and supplementary receipts/invoices printed prior to January 18, 2013 are no longer valid.
- After August 30, 2013, issuance of those receipts/invoices is treated as issuance of an invalid receipt or issuance as if no receipts were issued.
- The Circular imposes consequences both for issuance after expiration and for transactions supported by those receipts.
Deadline for replacement printing applications
- The deadline for filing an application for the printing of new receipts to replace all unused/unissued principal and supplementary receipts/invoices printed prior to January 18, 2013 is April 30, 2013.
- Applications received after April 30, 2013 are treated as late application.
- The Circular requires that the penalties for late filing be imposed for late applications.
Required surrender to the RDO
- All unused/unissued principal and supplementary receipts/invoices printed prior to January 18, 2013 must be surrendered to the RDO where the taxpayer is registered.
- The surrender must be made on or before 10th day after the date of printing stated in the new principal and supplementary receipts/invoices.
- For the Circular’s purposes (and related issuances), the date of the new principal and supplementary receipts/invoices is the date of expiration of the validity period of the unused/unissued receipts/invoices being referred to.
Consequences for post-expiration use
- After August 30, 2013, issuance of principal and supplementary receipts/invoices printed prior to January 18, 2013 is deemed issuance of an invalid receipt or issuance as if no receipts were issued.
- The Circular states that such conduct constitutes a violation of Section 264 of the National Internal Revenue Code.
- The Circular provides that transactions involving those receipts are deemed not properly substantiated and may not be allowed as a deduction.
Administrative publicity and enforcement
- All internal revenue officers and employees must give the Circular as wide a publicity as possible.
- Enforcement is tied to expiration of validity on August 30, 2013 and compliance with the surrender requirement to the proper RDO within the 10th-day period.