Authority to Use Computer-Based Accounting System

July 31, 1990 BIR RULING NO. 142-90 235 255-89 142-90 Gentlemen : This refers to your letter dated June 8, 1990 requesting for authority to use computer-based accounting system. You have represented that you are a domestic corporation authorized by the Securities and Exchange Commission (SEC) to engage in the activity of maintaining, operating, offering, issuing, marketing and selling pension plans per S.E.C. Registration No. 177248 dated May 21, 1990; and that such computer-based accounting system will facilitate the recording and classification of your daily financial transactions as well as reflect in a clear and concise manner your operations and results from a financial and tax point of view. aisadc In reply, please be informed that your request is hereby granted subject to the following conditions: 1. A readable printout of the information/accounting data should be made available or verifiable; and 2. Diskettes containing records, classification and summary of transactions shall be subject to examination and inspection of internal revenue officer as if they are the traditional books of accounts, in accordance with Section 235 of the Tax Code. cdt Very truly yours, (SGD.) JOSE U. ONG Commissioner