Request for Authority to Change Accounting Period from Fiscal Year

October 23, 1995 BIR RULING NO. 162-95 Sec. 40 000-00 162-95 Xavier School, Inc. 64 Xavier St., Greenhills West San Juan, Metro Manila Attention: Fr . R . Eugene Moran, S . J . Director Treasurer Gentlemen : This refers to your letters dated June 3, 1994 and September 12, 1995, requesting authority to change your accounting period from fiscal year May 1 April 30 to fiscal year April 1 March 31 of each year for purposes of filing your annual income tax return effective April 1, 1996. aisadc In reply, please be informed that your request is hereby granted pursuant to Section 40 of the Tax Code, as amended. However, a separate final or adjustment return covering your operation for the period May 1, 1995 to March 31, 1996 should be filed with the Revenue District Office concerned on or before July 15, 1996 and the tax due thereon paid at the time of filing. Thereafter, your annual income tax return covering the twelve (12) month period from April 1 to March 31 of the following year should be filed on or before July 15 following the close of such fiscal year and the tax due thereon paid at the time of filing. In filing the quarterly corporate income tax returns, the requirements of Sections 45, 68, 69 and 70 of the Tax Code, as amended, should be complied with. A copy of this letter should be attached to the separate final or adjustment income tax return to be filed by you. cdta Very truly yours, LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue