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RMC No. 36-2016: Clarifies the effectivity of the submission of certificate by the responsible Certified Public Accountants on the compilation services for the preparation of financial statements and notes thereto

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Summary

RMC No. 36-2016 clarifies when the CPA certificate on compilation services for financial statements and notes takes effect.

Key points

  1. Not yet required for CY 2015. The requirement does not apply to the Income Tax Return filing period for calendar year 2015, due on or before April 15, 2016.
  2. Start of the requirement. It takes effect only for financial statements submitted for the fiscal year ending June 30, 2016 and later periods.

Who is affected

  • Responsible Certified Public Accountants on compilation services

Deadlines and effectivity

  • Not applicable to CY 2015 returns due April 15, 2016
  • Effective for fiscal year ending June 30, 2016 and subsequent periods

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.

Related issuances

CitesRMC No. 21-2016
Cited byRMC No. 16-2017

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.