Summary
RMC No. 44-2002, issued October 30, 2002, specifies that the practice of filing tax returns under an accounting method different from the one allowed for keeping books of accounts must stop immediately.
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Key points
- Practice to stop. Some taxpayers file returns under an accounting method different from the method allowed in keeping their books. This must stop immediately.
- Treatment of such returns. All returns prepared under that practice are dealt with under the appropriate provisions of the law.
Who is affected
- Taxpayers filing returns under an accounting method different from the one used in their books
Deadlines and effectivity
- Stop immediately
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.