Wednesday, September 30, 2015

Tax-Basis Accounting Bookkeeping

Be aware!

That some of those subject to BIR examination/audit are those not using the Tax-Basis accounting bookkeeping ...

see Section 257 (B) (3)  of NIRC

SEC. 257. Penal Liability for Making False Entries, Records or Reports, or Using Falsified or Fake Accountable Forms. -
(B) Any person who:
(3)  Offers any taxpayer the use of accounting bookkeeping records for internal revenue purposes not in conformity with the requirements prescribed in this Code or rules and regulations promulgated thereunder;
See also

RMC 44  -2002


RMC 22-2004


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