Request for Authority to Use Computer-Based Accounting System

August 10, 1992 BIR RULING NO. 218-92 235 255-89 218-92 Jardine Davies, Inc. Jardine Davies Building 222 Sen. Gil J. Puyat Avenue Makati, Metro Manila Attention: Atty . J . C . Castaeda Tax Manager Gentlemen : This refers to your letter dated June 9, 1992, requesting in behalf of HPCO Leased Farms, Inc. (HPCOLF for brevity), for authority to use computer-based accounting system. LexLib You have represented that HPCOLF is a domestic corporation authorized to engage in the business of development, lease and cultivation of private agricultural lands, real and personal properties and trading in all kinds of agriculture, livestock and fishery products; that HPCOLF intends to use a computer system which will record its daily financial transactions and post the same to the proper accounts; and that HPCOLF will use computer tapes/diskettes which would facilitate the recording and classification of its daily financial transactions which will likewise reflect its operations. 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 officers as if they are the traditional books of accounts, in accordance with Section 235 of the Tax Code. cdt Very truly yours, JOSE U. ONG Commissioner of Internal Revenue