THE ESSENCE AND STEPS IN THE APPLICATION FOR REGISTRATION OF THE UPDATE OF MANUAL BOOK OF ACCOUNTS WITH THE BUREAU OF INTERNAL REVENUE (BIR)

In the afternoon of this 27th of December 2011, we successfully updated the companies’ Manual Book of Accounts for the year 2012. In fact, the due date of registration in the update of Manual of Book of Account for the month of November 2011 is on December 29, 2011 but can be moved in a specified date with the revenue memorandum circular upon the discretion of the agency, Bureau of Internal Revenue (BIR), if needed for the benefit amongst the taxpayers not yet registered their Book of Accounts that will be used for the records of transactions for the Taxable Year (TY) ending December 31, 2012.

For both Individual (Proprietors) and Non-Individual  (Corporations/Partnerships & Other Organizations) Taxpayers, registration of Book of Accounts is required upon registration of business within the jurisdiction or revenue district office (RDO) of such business entity.

The application of registration for the update of Manual of Book of Accounts is required if all the pages of such Book of Accounts has been used and all recorded transactions are updated  from the previous registration. This is the time that the Application of Registration of Update of Book of Accounts is necessary to avoid the consequences of paying penalties and interest in the future. It is also necessary to preserve the book of accounts for references and it is required to do so for legal purposes and books should be kept with a certain period specified by the revenue regulations related to keeping of book of accounts.

Anyway, this is to share the steps in the application for the registration of Update of Manual of Book of Accounts that I have experienced today with details as follows: (1) Checking and Updating of the new set complete Book of Accounts such as Cash Receipt Book, Cash Disbursement Book, Subsidiary Sales Journal, Purchase Journal, General Journal Book and General Ledger Book; (2) Accomplish the BIR Form No. 1905 (Application for Registration of Information Update); (3) Photocopy the first page of the previously approved books (4) In the BIR office, Stamp the first page of the complete set of books and fill up the the required information; (5) Let the Book of Accounts be encoded by the authorized person or BIR employee for the update of book of accounts and stamped with the date of registration and authorized revenue officer. The initial or signature of the encoder is also necessary as a confirmation for the encoding and updating of books in the system; and finally (6)  Let the complete set of book of accounts be approved and signed by the authorized officer of the Registration Office in the BIR.

Sample of BIR Form No. 1905 – Application

Pleased be informed that the Application for Registration of Updated of Book of Accounts was done with the Revenue District Office (RDO) No. 050 in Makati City, Philippines.

In fact, I am glad with the procedures and requirements in the updating the of books this year compared last year requiring the taxpayers to bring and show them the previously approved books which is not really necessary. It is clearly stated in the BIR Form No. 1905 that the requirement for the update of book of accounts is the photocopy of the first page of the previously approved books. The unnecessary requirement is a burden to the taxpayers and will cause for the delay of such transactions.

Folks, let us be objective and apply the basic principles related to this issue for the benefit of both the taxpayers and persons involved within the agency for the growth and development of the economy of our country.

THE SUZUKI’S FIRST EVER AUTOMOTO GRAND INVASION: UPLIFTING THE FILIPINO COMMUNITY’S WAY OF LIFE

The company, Suzuki Philippines Inc., considered as the only integrated automotive and motorcycle manufacturer in the Philippines, has successfully rolls out the first ever Suzuki AutoMoto Grand Invasion – a four-day event featuring its latest automobiles and motorcycles which was held in SM Mall of Asia Music Hall for the period December 15, 2011 to December 18, 2011.

A Press Conference of Suzuki AutoMoto Grand Invasion was held in Abe, 2nd Floor of SM Mall of Asia Music Hall at 9:30 am last December 15, 2011 with their vision in uplifting the Filipino community’s way of life.

From Left to Right: SHUZO HOSHIKURA, General Manager, Suzuki Philippines; CATALINA T. CALDERON, Managing Director and Treasurer, Suzuki Philippines; SATOSHI UCHIDA, President, Suzuki Philippines and EIJI KOBAYASHI, Gen. Manager-Motorcycle Sales and Marketing Division, Suzuki Philippines

The Suzuki AutoMoto Grand Invasion was featured the latest automobiles and motorcycle models of Suzuki, the never before seen 2012 motorcycle line up and the latest Suzuki original apparels were also on-sale.

The Suzuki Automoto Grand Invasion will also offer a free service campaign for Suzuki vehicle owners, which include 20-point inspection for Suzuki automobiles, and engine check-up, change engine oil and oil filter for Suzuki motorcycles.  “The first ever Suzuki AutoMoto Grand Invasion is Suzuki’s way of giving back to the public. This has been a great year for Suzuki and so, we thought of bringing Suzuki closer to the public by coming up with an integrated event for them,” said Mr. Satoshi Uchida, president, Suzuki Philippines Inc.

Uchida added, “Last year, Suzuki held the first Suzuki Grand Invasion, which was basically a culmination of a whole year of the year’s Suzuki Invasions which were implemented nationwide starting January 2010. However, it only focused on motorcycles. This year, we would like to underscore that we are the only integrated automobile and motorcycle company in the Philippines and that, they can expect a bigger and more aggressive Suzuki in 2012”.

The said event was successful indeed. Thanks to the persons involved from Fleishman Hillard International Communications and Suzuki Philippines!