Requirement of Keeping Books of Accounts
BIR Ruling No. 427-60 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Sep 6, 1960
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September 6, 1960 BIR RULING NO. 427-60 Mr. Benedicto Z. Rivera 69 Catbangan San Fernando, La Union S i r: In reply to your letter dated September 1, 1960, I have the honor to inform you that persons required by law to pay internal revenue taxes are required to keep books of accounts. Although, under Sections 182(b) and 188(b) of the Tax Code, you are exempt from the fixed and percentage taxes, nevertheless, you are subject to income and additional residence taxes. For this reason, you are required to keep books of accounts. LLjur Very truly yours, MELECIO R. DOMINGO Commissioner of Internal Revenue
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