With the Bureau of Internal Revenue (BIR) introducing new invoicing guidelines, GENIISYS has implemented the Ease of Paying Taxes (EOPT) enhancement to ensure full compliance and improve tax payment efficiency for our users.
In response to the Bureau of Internal Revenue’s (BIR) new invoicing guidelines, GENIISYS has launched the Ease of Paying Taxes (EOPT) enhancement. This upgrade is designed to guarantee full compliance and enhance tax payment efficiency for our users.
Key Benefits of EOPT for GENIISYS Users
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Regulatory Compliance
The EOPT enhancement simplifies invoicing and VAT management, automating processes to minimize manual errors and improve accuracy. This ensures your business adheres to all compliance standards, reducing regulatory risks and potential penalties. - Seamless Transactions
Manage transactions related to premiums, commissions on premiums ceded, and claims recoveries effortlessly, ensuring a smooth and efficient workflow. - Comprehensive Coverage
The enhancement also addresses rentals and other VAT-related, non-insurance transactions necessary for insurance operations.
Staying Ahead of Compliance Requirements
Clients have started receiving Computerized Accounting System (CAS) accreditation for EOPT through our latest updates. Additionally, CPI is proactively monitoring the upcoming BIR E-Invoicing requirement and will be ready to deliver this enhancement once BIR finalizes the implementation.
At GENIISYS, we are committed to continuously refining our solutions to keep you ahead of industry standards. Partner with us for a compliant, efficient, and future-ready tax management system!
Contact us to learn more and let us help you Engineer Success today!