All persons or companies required by law to pay internal revenue taxes shall keep a journal and a...

1960 BIR RULING NO. 091-60 Mr. Carolino L. de Guzman Attorney-at-Law 1352 G. Tuazon, Sampaloc M a n i l a S i r : In answer to your letter dated January 27, 1960, I have the honor to inform you that operators of billiard halls are not subject to any internal revenue business tax. However, the gross receipts derived by them from the operations thereof should be declared for purposes of the income and additional residence taxes. It may be stated in this connection, however, that should any affair be held in a billiard hall, such as billiard tournaments, and admission fees are charged, the billiard hall in such case becomes an amusement place subject to the amusement tax prescribed by section 260 of the Tax Code. All persons or companies required by law to pay internal revenue taxes shall keep a journal and a ledger, or their equivalents. But if the gross quarterly receipts or earnings of the operator do not exceed P5,000.00, he may keep and use only a simplified set of bookkeeping records duly authorized by the Secretary of Finance wherein all transactions and results of operations are shown and from which all taxes due the Government may readily be ascertained and determined anytime of the year; and provided that, if the gross quarterly receipts or earnings of said operation exceed twenty-five thousand pesos, he shall have the Books of Accounts audited and examined yearly by an Independent Certified Public Accountant and the income tax return accompanied with certified balance sheets, profit and loss statement, schedules listing income-producing properties and the corresponding incomes therefrom and other relevant statements, pursuant to section 334 of the Tax Code. prcd Very truly yours, MELECIO R. DOMINGO Commissioner of Internal Revenue