Tax Digest
Volume 10,
Series 60
Certificate of Compilation Not Required for BIR!

The Bureau of Internal Revenue (BIR) made it clear in this Circular that Certificate of Compilation, prescribed by the Board of Accountancy (BOA) to attached in the Audited Financial Statements (AFS), is no longer required in filing their Annual Income Tax Return to the BIR. This is in line with the government’s objective of improving ease of doing business, and decreasing bureaucratic requirements. Hence, only the existing documentary requirements prescribed by the Bureau is necessary in the filing of Income Tax Returns.

Revenue Memorandum Circular No. 16-2017
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