Authority to Use Loose-Leaf Subsidiary Journals
BIR Ruling No. 183-59 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Apr 7, 1959
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April 7, 1959 BIR RULING NO. 183-59 Bormabeco, Inc. 245 Buendia Avenue Makati, Rizal Gentlemen : In reply to your letter of January 31, 1959 requesting authority to use loose-leaf subsidiary journals, I have the honor to inform you that your request is granted on condition that the loose-leaf journals and all your other accounting records you will use shall be approved by and registered with this Office prior to their use. In this connection, it is further stated that if sales, transfers, or other transactions for valuable consideration in connection with your business are made in your branch offices said offices should keep and use separate books of accounts and all other accounting records required under section 334 of the Tax Code and Revenue Regulations No. V-1, known as the Bookkeeping Regulations, irrespective of whether or not your "company has centralized the accounting of all the business transactions of all its Offices." LLphil Very truly yours, (SGD.) JOSE ARAAS Commissioner of Internal Revenue
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