Use of Simplified Sets of Bookkeeping Records by a Taxpayer
BIR Ruling No. 042-58 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jan 21, 1958
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January 21, 1958 BIR RULING NO. 042-58 Mr. Francisco G. Sanchez 166 D. Tuazon, Quezon City S i r : In reply to your query dated January 3, 1958, I have the honor to inform you that in order that a taxpayer may be entitled to the use of simplified sets of bookkeeping records within the purview of Section 334 of the Tax Code, his gross sales, receipts or gross value of output during any quarter should not exceed P5,000.00. If his sales, receipts or gross value of output exceed P5,000.00 in any quarter, he cannot avail himself of the use of the simplified set of bookkeeping records even if his sales, receipts or gross value of output for the other quarters is less than P5,000.00. aisadc Very truly yours, (SGD.) JOSE ARAAS Commissioner of Internal Revenue
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