Extending the Deadline for Filing Engagement Letters as Required in Revenue Regulations No. 6-90

November 27, 1990 REVENUE MEMORANDUM CIRCULAR NO. 099-90 SUBJECT : Extending the Deadline for Filing Engagement Letters as Required in Revenue Regulations No. 6-90 TO : All Internal Revenue Officers and Others Concerned SECTION 1 . Pursuant to Revenue Regulations No. 6-90, the independent CPA of taxpayers, whose gross annual sales and/or receipts for the year exceeds P100,000 and whose books of accounts are required, to be audited for financial purposes pursuant to Section 232 (A) of the Tax Code must submit copies of the engagement letters to the Bureau of Internal Revenue not later than two (2) months before the beginning of the client's taxable year covered by the engagement. In order to give the CPAs ample time to comply with the said provision of the regulations, the following deadlines are hereby prescribed: a. For the taxable year 1990 (Calendar Year 1990 and Fiscal Year ending January 31, 1991 to June 30, 1991), the deadline shall be as follows: Taxable Year Ending Deadline December 31, 1990 December 31, 1990 January 31, 1991 January 31, 1991 February 28, 1991 January 31, 1991 March 31, 1991 January 31, 1991 April 30, 1991 January 31, 1991 May 31, 1991 January 31, 1991 June 30, 1991 February 28, 1991 b. For the taxable year 1991 and subsequent years, the deadline for the submission of copies of engagement letters is not later than five (5) months before the end of the taxpayer's taxable year for income tax purposes. c. For new clients who engaged the services of the CPA after the above deadlines, the engagement letter shall be submitted within thirty (30) days from the date of approval of the contract of engagement by the client-taxpayer. SECTION 2 . This Circular takes effect immediately. (SGD.) VICTOR A. DEOFERIO, JR. Deputy Commissioner Officer-in-Charge