Change in accounting period
THE Bureau of Internal Revenue recently issued Revenue Regulations No. 3-2011 specifying the requirements for a corporate taxpayer in any application for a change in accounting period. The documentary requirements now include:
1. Letter-request addressed to the Revenue District Officer
2. BIR Form No. 1905
3. Securities and Exchange Commission approval of the by-laws on change of accounting method
4. Certificate of no-forum shopping
5. Sworn Certification to file a separate final or adjustment return for the period between the close of the original accounting period and the date designated as the close of the new accounting period on or before the 15th day of the fourth month following the end of the period covered by the final/adjustment return.
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