Amendment to Section 188 of Revenue Regulations No. 2, the Income Tax Regulations

November 5, 1962 REVENUE REGULATIONS NO. 08-62 SUBJECT : Amendment to Section 188 of Revenue Regulations No. 2, the Income Tax Regulations TO : All Internal Revenue Officers and Others Concerned Pursuant to the provisions of Section 338, in relation to Section 4(j) of Commonwealth Act No. 466, otherwise known as the National Internal Revenue Code, the following regulations amending Section 188 of Revenue Regulations No. 2, otherwise known as the Income Tax Regulations, are hereby promulgated and shall be known as Revenue Regulations No. 8-62 . SECTION 1. Section 188 of Revenue Regulations No. 2 is hereby amended to read as follows: "The Commissioner of Internal Revenue may, in meritorious cases, grant a reasonable extension of time for filing returns of income. Requests for such extension of time must be filed with the Bureau of Internal Revenue on or before the last day of the period for filing returns. Only the following reasons shall be considered as meritorious for which an extension may be granted: (a) Destruction of books of accounts and other records of the taxpayer through fire, flood or typhoon and the said books and other records are in the process of reconstruction; (b) Epidemic, pestilence or other calamities prevailing in specific sectors of the country where the taxpayer resides or where the principal business is being conducted. Sickness or illness of the accountant, bookkeeper or the manager of the business shall not be considered a reasonable cause." SECTION 2. Date of Effectivity . These regulations shall take effect upon their promulgation in the Official Gazette. RODRIGO D. PEREZ, JR. Acting Secretary of Finance Recommended by: JOSE B. LINGAD Acting Commissioner of Internal Revenue ATTACHMENT April 4, 1962 The Director Bureau of Printing M a n i l a S i r : In connection with the copy of Revenue Regulations No. 8-62, dated November 5, 1962, which we forwarded to that office under our covering letter dated February 19, 1963, I have the honor to request that a typographical error made on the word last under Section 1 thereof, be corrected so that the same should be read as last and not 1st as it appears in the copy. cdi Very truly yours, JOSE B. LINGAD Acting Commissioner of Internal Revenue February 19, 1963 The Director Bureau of Printing M a n i l a S i r : I have the honor to enclose herewith Revenue Regulations No. 8-62 dated November 5, 1962, with the request that said Regulations be published in the Official Gazette. Payment will be made on your bill upon its receipt by this Office. Very truly yours, JOSE B. LINGAD Acting Commissioner of Internal Revenue DEPARTMENT OF FINANCE Manila 3rd Indorsement February 11, 1963 Respectfully returned to the Commissioner of Internal Revenue, Manila, the within Revenue Regulations No. 8-62, as corrected, dated November 5, 1962 amending Section 188 of Revenue Regulations No. 2, otherwise known as the Income Tax Regulations, approved. RODRIGO D. PEREZ, JR. Acting Secretary SUBJECT: Proposed Revenue Regulations No. 8-62 1st Indorsement December 3, 1962 Respectfully returned to the Commissioner of Internal Revenue, Manila, requesting clarification on whether the term "meritorious cases" refers exclusively to cases where reasonable causes (a) and (b) mentioned in the proposed Revenue Regulations No. 8-62 exist, or these are only two among other causes to justify the granting of extension for filing income tax returns. It is further requested that the proposed Regulations be worded to suit its intention. Such clarification is indispensable in order to avoid different interpretations of the proposed Regulations. LLjur RODRIGO D. PEREZ, JR. Acting Secretary