BIR requires Statement of Management Responsibility
Monday, March 15, 2010
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PURSUANT to Revenue Regulations 3-2010, all taxpayers are now required to attach a “Statement of Management Responsibility” to their annual income tax returns (ITRs) for the taxable year 2009.
The Statement of Management Responsibility affirms the responsibility of the taxpayer and the responsible officers, in case of juridical entities, over the content and accuracy of the ITR, including the financial statements and other information returns that accompany the tax return.
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The Statement of Management Responsibility should be signed by the following persons:
1. Individual taxpayer;
2. President or chief executive officer and chief financial officer in the case of corporations;
3. Managing partner in case of partnerships;
4. Local manager in charge of operations in case of a foreign corporation with branch office in the Philippines. (Source: Punongbayan & Araullo)
