Preservation of Office Files and Records of Business Firms

March 17, 1959 BIR RULING NO. 130-59 Mr. Alfredo V. Orias 48 Sampaguita St., Roxas District Quezon City S i r : In reply to your letter dated March 3, 1959 requesting information regarding the preservation of "office files and records" of business firms, I have the honor to inform you as follows: The books of accounts, registers, invoices, receipts, and other accounting records to be used by any person or entity in accordance with Section 334 of the Tax Code and the Bookkeeping Regulations should be kept in the office or place of business of the taxpayer for a period of five(5) years from the date of last entry in the case of book accounts, registers, and other accounting records, and, in the case of invoices and receipts, from date appearing thereon, pursuant to Sections 204 and 337 of the said Code. However, inasmuch as entries in the books of accounts must be supported with the corresponding invoices receipts, or vouchers, it is advisable to keep the said invoices, receipts, or vouchers for a period of five years from the date of last entry of the books in which they are entered, instead of from their date of issuance. Anent other records or papers which have no bearing on internal revenue taxation, this Office has no jurisdiction to rule on queries regarding their preservation or disposition. cdpr Very truly yours, (SGD.) JOSE ARAAS Commissioner of Internal Revenue