Penalty for Violation of the Bookkeeping Regulations

February 19, 1958 BIR RULING NO. 104-58 Mr. Reymundo Ortiz Tabaco, Albay S i r : In reply to your letter dated December 18, 1957, I have the honor to inform you that the failure to attach the yearly statement of net worth and operations to the income tax return, pursuant to Section 6 of Revenue Regulations No. V-1, as amended by Revenue Regulations No. V-13, is punishable under Section 352 of the National Internal Revenue Code. cdt The demand upon you by the Regional Director for the payment of P40.00 in extrajudicial settlement of the penal liability arising from your violation of the bookkeeping regulations was made in accordance with General Circular No. V-236 of this Office. We regret to inform you further that you request that the enforcement of the requirement regarding the submission of the yearly statement of net worth and operations be effected only beginning 1956 cannot be granted. cdtech Accordingly, it is requested that you comply with the demand of the Regional Director thereat in order that your case can be terminated and closed. Very truly yours, (SGD.) JOSE ARAAS Commissioner of Internal Revenue