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    Note 1

    Uploaded by

    Mercy Clapano-Artazo Miranda
    This document provides instructions for including goods in a tax inventory schedule. It states that the schedule should include: 1) All goods located at the taxpayer's head office, branches, or facilities, whether the taxpayer has title to the goods or not. This includes goods held on consignment or owned by a related party. 2) Use codes to indicate the ownership status and location of the goods. 3) Indicate the costing method used to value the goods, such as standard costing, FIFO, or weighted average. The document is signed by the authorized representative of the taxpayer to declare that the schedule was prepared in good faith and is true and correct according to tax regulations.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Note 1

    Uploaded by

    Mercy Clapano-Artazo Miranda
    24 views1 page
    This document provides instructions for including goods in a tax inventory schedule. It states that the schedule should include: 1) All goods located at the taxpayer's head office, branches, or facilities, whether the taxpayer has title to the goods or not. This includes goods held on consignment or owned by a related party. 2) Use codes to indicate the ownership status and location of the goods. 3) Indicate the costing method used to value the goods, such as standard costing, FIFO, or weighted average. The document is signed by the authorized representative of the taxpayer to declare that the schedule was prepared in good faith and is true and correct according to tax regulations.

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    BIR NOTE 1

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    This document provides instructions for including goods in a tax inventory schedule. It states that the schedule should include: 1) All goods located at the taxpayer's head office, branches, or facilities, whether the taxpayer has title to the goods or not. This includes goods held on consignment or owned by a related party. 2) Use codes to indicate the ownership status and location of the goods. 3) Indicate the costing method used to value the goods, such as standard costing, FIFO, or weighted average. The document is signed by the authorized representative of the taxpayer to declare that the schedule was prepared in good faith and is true and correct according to tax regulations.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    24 views1 page

    Note 1

    Uploaded by

    Mercy Clapano-Artazo Miranda
    This document provides instructions for including goods in a tax inventory schedule. It states that the schedule should include: 1) All goods located at the taxpayer's head office, branches, or facilities, whether the taxpayer has title to the goods or not. This includes goods held on consignment or owned by a related party. 2) Use codes to indicate the ownership status and location of the goods. 3) Indicate the costing method used to value the goods, such as standard costing, FIFO, or weighted average. The document is signed by the authorized representative of the taxpayer to declare that the schedule was prepared in good faith and is true and correct according to tax regulations.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Note 1

    A. Include all goods whether taxpayer tax payer has title or not, provided these goods are actually situated in location/address at the Head Office or Branch
    or Facilities (with or without sales activity of the tax payer). Facilities shall include but not limited to place of production, showroom, warehouse, storage
    place, leased property, etc. include also goods out on consignment, though not physically present are nonetheless by the tax payer.
    B. Use the following codes:
    CH Goods on consignment Indicate the name of the consignor in the Remarks column
    held by tax payer.

    P parked goods or goods Indicate the name of related party/owner in the Remarks Column
    Owned by related

    O Goods owned by tax payer

    Co consignment held in the Indicate the name of the entry in the Remarks column
    hands of entity other

    Note 2 Indicate Costing Method applied, eg., Standard Costing FIFO, Weighed Average, Specific Identification, etc.

    We declare, under the penalties of perjury that this schedule has been made in good faith, verified by us, and to the best of our knowledge and belief, is true and
    correct pursuant to the provisions of the National Internal Revenue Code, as amended, and the regulations issued under authority thereof.

    NELIA M. URBIZTONDO
    Name and Signature of Authorized
    Representative

    TIN: 907-481-517

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