Non-attachment of the Yearly Statement of Net Worth and Operations in the ITR

February 19, 1958 BIR RULING NO. 105-58 Messrs. Sycip, Gorres, Velayo & Co. Certified Public Accountants P. O. Box 589, Manila Gentlemen : In answer to your letter of the 14th instant, I have the honor to inform you that a person whose income during a given year consists exclusively of salaries, dividends, interests, and capital gains need not accompany his income tax return with the yearly statement of net worth and operations required of those whose gross quarterly sales, earnings, receipts, or output do not exceed P25,000.00 under Section 6 of Revenue Regulations No. V-1, as amended. Neither does such person need to attach to his income tax return the certified balance sheets, profit and loss statements, schedules listing income-producing properties and the corresponding incomes therefrom, and other relevant statements required of persons whose gross quarterly sales, earnings, receipts, or output exceed P25,000.00 under Section 334 of the National Internal Revenue Code, as amended. LexLib Very truly yours, (SGD.) JOSE ARAAS Commissioner of Internal Revenue