BIR clarifies: No changes on required documents for ITR filing
(Revenue Memorandum Circular No. 16-2017, February 22, 2017)
This Tax Alert is issued to inform all concerned on the latest policies regarding the filing of Income Tax Returns.
The BIR clarified that there will be no changes in the existing documentary requirements in the filing of income tax returns.
The clarification was issued in view of the requirement of the Board of Accountancy (BOA) for the submission of a certification by an accredited CPA on the compilation services for the preparation of Financial Statements. Previously, the BIR circularized this requirement and the effectivity date in RMCs 21 and 36, series of 2016.
This implies that the BIR will not require that the FS be accompanied by a certification on the compilation/preparation.