Application of Sec. 204 (Tax Code)

January 5, 1959 BIR RULING NO. 010-59 Mr. Antonio Quion Institute of Accounts Far Eastern University Manila S i r : In reply to your letter dated July 23, 1958, I have the honor to inform you as follows: Section 204 of the Tax Code provides that in case of sales, receipts, or transfers in the amount of P50.00 or more the invoices or receipts must show the name, style, if any, and business address of the purchaser, customer, or client. The said provision, among others, is implemented by Revenue Regulations No. V-1 otherwise known as the Bookkeeping Regulations. Section 15 of the said Regulations further requires that the number, date, and place of issue of the residence certificate of the purchaser, customer, or client in sales or transfer involving P50.00 or more should also be shown in the invoices or receipts. The basis of this requirement, as will be noted, is the aforecited provision of the Tax Code. The said regulations have the force and effect of law and are purely implementary measures adopted by this Bureau for the efficient collection of internal revenue taxes. LLphil Very truly yours, (SGD.) MELECIO R. DOMINGO Acting Commissioner of Internal Revenue