Amending Section 3 of Revenue Regulations No. 6-90 Dated June 29, 1990 Prescribing the Time and Place for the Filing of Engagement Letters by Independent Certified Public Accountants

July 26, 1996 REVENUE REGULATIONS NO. 09-96 SUBJECT : Amending Section 3 of Revenue Regul ations No. 6-9 0 Dated June 29, 1990 Prescribing the Time and Place for the Filing of Engagement Letters by Independent Certified Public Accountants TO : All Internal Revenue Officers, independent Certified Public Accountants (CPAs) and Others Concerned SECTION 1 . Pursuant to the provisions of Section 245 of the National Internal Revenue Code, as amended, in relation to Sections 16(h) and 232, both of the same Code, these regulations are hereby promulgated to state and implement the revised policies and procedures in the submission and processing of Engagement Letters by independent Certified Public Accountants. SECTION 2 . S ectio n 3 of Revenue Regulations No. 6-90 is hereby amended to read as follows: Section 3. When and Where to file Engagement Letters. The independent Certified Public Accountants shall file the copy of the engagement letter and renewals or subsequent agreements thereon with the Revenue District Officer who has jurisdiction over the taxpayer's principal place of business or residence not later than two (2) months before the beginning of the client's taxable year covered by the agreement. In order to have a complete master list and be able to monitor all practising accountants relative to the clientele, the Revenue District Officers are required to submit a list of all engagement letters filed with their offices in accordance with the format prescribed under "Annex A" hereof to the Commissioner of Internal Revenue, Attention" Assistant Commissioner, Assessment Service, within twenty (20) days after the end of the semester on or before January 20 and July 20 of each calendar year. The first semestral list, however, for the taxable year 1996 shall be submitted on or before August 30, 1996. SECTION 3 . Repealing Clause . The provisions of Revenue Regulations No. 6-90 and all other existing rules and regulations or part(s) thereof which are inconsistent with the provisions of these regulations are hereby amended, revoked or modified accordingly. SECTION 4 . Effectivity . These regulations shall take effect fifteen (15) days after publication in a newspaper of general circulation in the Philippines. ROBERTO F. DE OCAMPO Secretary of Finance Recommended by: LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue ANNEX A RDO No. _____ ____________ REVENUE REGION ____ LIST OF ENGAGEMENT LETTERS FOR THE PERIOD ____ TO ____ NAME AND ADDRESS PRC LICENSE NO NAME AND ADDRESS OF CLIENT ACCEPTANCE EXPIRY DATE OF OF INDEPENDENT CPA DATE OF ENGAGEMENT ENGAGEMENT Prepared by: Date APPROVED: ____________ _________ _____________ RDO