THE Bureau of Internal Revenue (BIR) yesterday announced that small farmers are now exempted from issuing receipts.
BIR commissioner Romeo Lumagui Jr. said covered by the exemption are farmers whose annual gross sales do not exceed P1 million, pursuant to Revenue Regulation No. 12-2023.
The exemption is for “individuals who are suppliers/producers/sellers, contract growers, and millers of agricultural food products.”
“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 said.
The BIR also removed the requirement of principal and supplementary gross sales/receipts for the sale of agricultural food products by these small farmers.
It said agricultural food products refer to products in their original state that are generally used for yielding or producing food for human consumption such as farm produce, livestock, poultry, marine product, ordinary salt, and agricultural inputs.
Products that have undergone the simple process of preparation or preservation for market are also covered, the BIR said. (GMA Integrated News)
