BIR Ruling

January 9, 1969 The Director Revenue Region No. 6 Bureau of Internal Revenue Quezon City S i r : This refers to the letter of Mr. Victoriano M. Gonzales, Revenue District Officer, Revenue District No. 24, Malabon, Rizal, requesting opinion as to whether or not the practice of taxpayers through their accountants in submitting their list of inventories anywhere they find it convenient for them although their business establishments are located within the jurisdiction of the Office of the Revenue District Officer is a substantial compliance of Section 13 of Revenue Regulations No. V-1, as amended. In reply thereto, I have the honor to inform you that under Section 13 of Revenue Regulations No. V-1, as amended, otherwise known as the Bookkeeping Regulations, the inventory at the beginning shall be made and submitted to the Commissioner of Internal Revenue if the place of business is in Manila, or to the deputy provincial or city treasurer (now Collection Agent), if in a municipality or city, within ten days after securing the privilege tax receipt or starting the business, and the subsequent inventories not later than thirty days after the close of the calendar year or accounting period. It is clear from the foregoing that inventories can only be submitted to the Collection Agent of the place where said establishments secured their privilege tax receipts. And the Collection Agents in turn shall, upon receipt of such inventories, immediately send the same to their Revenue District Officer. aisadc Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue