Updated guidelines on PTU loose-leaf filing

(Revenue Memorandum Circular No. 68-2017, August 10, 2017) 

This Tax Alert is issued to inform all concerned on the new venue for filing the application for Permit to Use (PTU) loose-leaf book of accounts/invoices/receipts and other accounting records.

In line with the “ease of doing business”, the processing and issuance of the PTU loose-leaf books of accounts/invoices/receipts and other accounting records shall now be handled by the concerned Revenue District Office. Prior to this issuance, processing of the application was being handled by the regional offices pursuant to RMC No. 13-82.

The requirements for evaluation and approval of the application remain the same as follows:                                                    

  1. Duly accomplished BIR Form No. 1900 (Application for Authority to Use Computerized Accounting System or Components thereof/Loose-Leaf Books of Accounts};
  2. Sample format and print-out;
  3. Sworn statement specifying the books to be used; invoices/receipts and other accounting records with the serial numbers of principal and supplementary invoices/receipts to be printed and commitment to permanently bind the loose-leaf forms within 15 days after end of each taxable year or upon termination. 

Only the taxpayer’s Head Office is required to secure the PTU loose-leaf. The same PTU shall be valid for the branches, regardless of the RDO of the branch. The branch should, however, secure certified true copy from the RDO of the taxpayer’s head office. For each additional branch, updating of the PTU loose-leaf is also required.

 

Download Revenue Memorandum Circular No. 68-2017