If you need to acquire equipment or other capital assets, our lease facilities will allow you to have minimal cash outlay, affordable amortization and terms that suit your requirements.
We can do leases on machines, equipment and vehicles. We also do mortgage loans and extend short term credit lines to finance your working capital requirements.
Issuance of Billing Invoice Pursuant to Ease of Paying Taxes Act (RA No. 11976)
Privacy Policy
LBP Leasing and Finance Corporation (“LLFC”) is fully committed to ensuring the protection of personal information entrusted to us by our clients and stakeholders, in accordance with Republic Act No. 10173, otherwise known as the Data Privacy Act of 2012 (“DPA”), its Implementing Rules and Regulations, and other confidentiality laws, rules, and regulations.
The Bureau of Internal Revenue (“BIR”) issued Revenue Regulation (RR) No. 3-2024 and No. 7-2024 dated March 22, 2024, and took effect last April 27, 2024, implementing the new invoicing requirements provided under the Ease of Paying Taxes Act (EOPT) or Republic Act No. 11976. Under RR 7-2024, an “INVOICE” shall be issued as evidence for both sale of goods and/or services, which shall be the basis of the output tax liability of the seller and the input tax claim of the buyer and shall be the basis of the Percentage Tax Liability of seller for the sale of goods and/or services not subject to VAT.
Starting May 2, 2024, LBP Leasing and Finance Corp. issues Invoice by striking through the word “Official Receipt” on the face of the manual and loose leaf printed receipt and stamped “Billing Invoice”.
Official Receipt will no longer be issued.
Effective July 18, 2024, BIR issued an acknowledgement certificate to LBP Leasing and Finance Corp. for the reconfigured Computerized Accounting System that complies with the provisions of the EOPT Act.
Starting July 22, 2024, the manual Billing Invoice was fully exhausted and will be replaced by electronic Billing Invoice along with the electronic Collection Receipt and Acknowledgement Receipt.
With our enhanced CAS, the company will issue the “Billing Invoice” for both taxable sale of goods and services (such as Lease/Loan Interest payment) along with the supplementary receipts such as “Collection Receipt” for taxable transactions and “Acknowledgement Receipt” for any non-taxable sale of goods and services (such as Loan principal payment, cash returns).
For lease/loan amortization the following documents shall be issued:
Billing Invoice and Collection Receipts - for Interest, Penalty, and other income related payments
Acknowledgement Receipt - for Principal payments
LLFC fully supports the BIR’s integrated digitalization program and believes that these changes will modernize our invoicing and receipt processes, which promotes a more efficient and convenient experience.
Please do not hesitate to contact us if you have any concerns about these changes.
Thank you for your continued support and we highly appreciate your attention on this matter.
