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CA 466 Section 41

Change of accounting period.

Section 41

SEC. 41. Change of accounting period. — If a taxpayer, other than an individual, changes his accounting period from fiscal year to calendar year, from calendar year to fiscal year, or from fiscal year to another, the net income shall, with the approval of the Collector of Internal Revenue, be computed on the basis of such new accounting period, subject to the provisions of section 42.

Read the full instrument → · Open the chapter this section belongs to: CHAPTER V - Accounting and Methods →

Source: Official Gazette of the Republic of the Philippines — Philippine laws are public documents (works of the government).

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