BIR issued Revenue Regulations (RR) No. 3-2010 last February 26, 2010 requiring all taxpayers to submit a Statement of Management’s Responsibility that shall accompany the financial statements and the annual income tax return (ITR) for taxable year 2009.“The ITR and its corresponding attachments,” as Commissioner Joel L. Tan-Torres mentioned, “is the primary responsibility of the management of the taxpayer, so this shall be accompanied by the Statement of Management’s Responsibility.”
The format and content of the Statement can be downloaded at the BIR website at www.bir.gov.ph. It is also available at any BIR office nationwide.
The aforementioned Statement should be duly signed by the individual taxpayer, president, managing partner, the Chief Executive Officer, the Chief Financial Officer or their equivalent, or any officer performing similar functions regardless of their designation.
For foreign corporations with branch office in the Philippines, the Statement shall be signed by its local manager who is in charge of its operations.
“All taxpayers required to file the annual ITR under the Tax Code shall be required to submit the Statement on or before the April 15 tax deadline.” Commissioner Tan-Torres added.