RMC No. 55-2019 — Clarifies the meaning of "Business Style" which is required in official receipts and invoices

REPUBLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

May 21,2019

REVENUE MEMORANDUM CIRCULAR NO. 55-2019

Subject : Clarification on the Meaning of Business Style Being Required in the

Official Receipts and Invoices

To All Internal Revenue Officials, Employees and Others Concerned.

concerned, this Circular is hereby issued to clarify the meaning of Business Stylewhich is National Internal Revenue Code (NIRC),as amended;Section II(J of Revenue Memorandum OrderRMO No.12-2013;Section 5 of Revenue Regulations(RRNo.10-2015,as amended by RR No.16-2018; and Revenue Memorandum Circular (RMC) No.64-2015. required to be indicated on the official receipts and invoices pursuant to Section 113(B) of the For information and guidance of all internal revenue officials, employees and others

regulatory body used by the taxpayer other than its registered name or company name. For examples: The phrase Business Style refers to the business name registered with the concerned

1 A corporation is registered under the corporate name of XYZ Entertainment Corporation. Based on its Certificate of Registration issued by Securities and Exchange Commission (SEC), the Corporation is operating under the business name of Bozo the Clown. In this case, the business style is the business name which is Bozo the Clown.

2) A single proprietor named Juanita M. Ricafrente registered a business name with

the Department of Trade and Industry (DTI. Reflected in her DTI Certificate of

"JMR Trading. Registration is the business name ofJMR Trading.Hence,the business style is

wide publicity as possible. All internal revenue officials and employees are hereby enjoined to give this Circular a

1a3a1

CAESAR R.DULAY

Imag H-2 Commissioner of Internal Revenue 025846