Request for Permission to Change Manner of Filing Annual Financial Reports and Information Sheet from Calendar Year to Fiscal Year

April 4, 1994 BIR RULING NO. 080-94 4 (i) 41 (a) 000-00 080-94 ContempLative Sisters of the Good Shepherd 4120 Tagaytay City Attention: Sr . Mary Zita Alcazar, CGS Superior Gentlemen : This refers to your letter dated March 25, 1993 requesting for permission to change your manner of filing your Annual Financial Reports and Information Sheet from calendar year to fiscal year (June) starting January 1, 1993. In reply, please be informed that pursuant to Section 4(i) of the Tax Code, as amended, your request is hereby granted, provided, you comply with the provision of Section 41(a) of the same code stating: "Sec. 41. Final or Adjustment Returns for a Period of Less than Twelve Months . (a) Return for short period resulting from change of accounting period. If a taxpayer, other than an individual, with the approval of the Commissioner of Internal Revenue, changes the basis of computing the net income from . . . calendar year to fiscal year, a separate final or adjustment return shall be made for the period between the close of the last calendar year for which return was made and the date designated as the close of the fiscal year . . . . This will, therefore, serve as your authority to change your accounting period from calendar year to fiscal year upon your compliance of the requirement of filing a short-period return. cd Very truly yours, LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue