Request for Authority to File Information Return on or Before the 15th Day of the Fourth Month Following the Close of a Corporation's Fiscal Year

May 25, 1992 BIR RULING NO. 155-92 45 000-00 155-92 Quasha, Asparilla, Ancheta, Pea & Nolasco Lawyers Don Pablo Building 114 Amorsolo Street Makati, Metro Manila Attention: Atty . Dennis G . Dimagiba Gentlemen : This refers to your letter dated October 1, 1991 requesting for authority to allow your client, the BAPTIST GENERAL CONFERENCE OF AMERICA PHILIPPINE MISSION, to file its information return on or before the 15th day of the fourth month following the close of its fiscal year. It appears that on June 6, 1990, the Baptist General Conference of America Philippine Mission (BGCA Phil. Mission) was granted a tax exemption by the BIR, on the basis of Section 26 (e) of the Tax Code, as amended; that the last paragraph of the adjudication letter directs BGCA-Phil. Mission to attach a copy thereof to the annual information return it is required to file on or before April 15 of each year; and finally, that BGCA-Phil. Mission, conformably to the practice of the worldwide organization of BGCA, uses an annual accounting period, however, of from June 1 to May 31, inclusive. In reply, please be informed that for income tax purposes, a corporation may adopt either the calendar year or fiscal year as its annual accounting period and as basis for filing its annual income tax return pursuant to Section 45 (b) in relation to Section 37 of the Tax Code as amended. Such being the case, since your client's annual accounting period is fiscal year June 1 to May 31, the Baptist General Conference of America Philippine Mission is hereby authorized to file its annual information return (BIR Form 1702 A-1) on or before the 15th day of the fourth month (i.e. September) following the close (May 31) of its fiscal year. iatdc Very truly yours, JOSE U. ONG Commissioner of Internal Revenue