Request for Change in Accounting Period from a Calendar Year Period to a Fiscal Year Period

July 3, 1992 BIR RULING NO. 199-92 41-000 000-00 199-92 Fernandez, Santos & Lopez 21st Floor, Metrobank Plaza Sen. Gil G. Puyat Avenue Makati, Metro Manila Attention: Atty . Lovell R . Bautista Partner Gentlemen : This refers to your letter dated April 21, 1992 in behalf of your client Mar. Y. Cielo Leisure Resort, Inc., in effect, requesting permission to change its accounting period from a calendar year period ending December 31 to a fiscal year period ending June 30. In reply, please be informed that your client's request is hereby granted pursuant to Section 40 of the Tax Code. Accordingly, in accordance with Section 41 of the same Code, your client should file a separate final or adjustment return for the period corresponding to January 1 and June 30 (which is the period between the close of the calendar year for which a return was made and the date designated as the close of the fiscal year). This serves as the authority/permission for your client, Mar. Y. Cielo Leisure Resort, Inc. with TIN No. 000-258-033 of Ibabao, Mactan, Lapu-Lapu City, Cebu, to adopt the fiscal year accounting period ending June 30. cdta Very truly yours, JOSE U. ONG Commissioner of Internal Revenue