Many would say that filing and paying taxes in the Philippines is complicated. With the introduction of the Ease of Paying Taxes (EoPT) Act, it aims to streamline the processes and most importantly provide convenience to the taxpayers. But would it really be providing convenience? This is the first part of our series about the EoPT Law. REGISTRATION FEE NO MORE! One of the most evident features of the EoPT Law is now the taxpayers no longer require to pay the Annual Registration Fee of ₱500.00. Hence, taxpayers need not to file and pay at most by January 31 of each year of BIR Form 0605 just to "register" yearly. FROM RECEIPT TO INVOICE EoPT Law states that all sources of revenues should now be recorded on an accrual basis, (ie earned but not yet collected). To add, the law standardized all primary commercial documents to be issued should be categorized as "Invoice" in contrast with the previous, long-standing, rulings that invoices should be issued for the sale of ...