Simplified Procedure in Complying with the Accomplishment of AIF

February 13, 2001 REVENUE MEMORANDUM CIRCULAR NO. 06-01 SUBJECT : Simplified Procedure in Complying with the Accomplishment of Account Information Form (AIF) to be Attached to the Income Tax Returns of Taxpayers Whose Gross Quarterly Earnings Exceed One Hundred Fifty Thousand Pesos (P150,000) TO : All Internal Revenue Officers, Employees and Others Concerned For purposes of simplifying compliance with Section 232 of the Tax Code of 1997, which requires the filing of income tax returns (ITRs) accompanied by duly accomplished Account Information Form (AIF), corporations, companies or persons whose gross quarterly sales, earnings, receipts or output exceed One Hundred Fifty Thousand Pesos (P150,000), may file their annual income tax returns accompanied by balance sheets, profit and loss statements, schedules listing income-producing properties and the corresponding income therefrom, and other relevant statements duly certified by an independent CPA, which shall be considered as sufficient compliance with the filing and accomplishment of the AIF as required by the aforementioned Section. All revenue officials and employees are enjoined to give this Circular as wide a publicity as possible. (SGD.) RENE G. BAEZ Commissioner of Internal Revenue