Corporation returns.
Section 46
SEC. 46. Corporation returns. — (a) Requirement. — Every corporation, subject to the tax herein imposed, shall render, in duplicate, a true and accurate return of its annual net income in the manner and form prescribed by the collector of Internal Revenue with the approval of the Secretary of Finance, and containing such facts, data and information as are appropriate and in the opinion of the Collector of Internal revenue necessary to determine the correctness of the net income returned and to carry out the provisions of this Title. The return shall be filed by the President, vice-president, or other principal officer, and shall be sworn to by such officer and by the treasurer or assistant treasurer. (b) When to file. — The return shall be rendered on or before the first day of March of each year for the preceding calendar year, or if the corporation has designated fiscal year, then within sixty days after the close of such fiscal year. (c) Where to file. — The return shall be made to the Collector of Internal Revenue, provincial revenue agent, or to the treasurer of the province, city, or municipality in which is located the principal office of the corporation where its books of account and other data from which the return is prepared are kept, or in the case of a foreign corporation, to the Collector of Internal Revenue, provincial revenue agent, or to the treasurer of the province city, or municipality in which is located its principal place of business in the Philippines, or if it has no office of any kind or agency in the Philippines, then to the Collector of Internal Revenue in Manila. All such returns shall as received be transmitted forthwith by the officer receiving them to the Collector of Internal Revenue: (d) Fiscal year of corporations. — Every corporation subject to tax, including duly registered general co-partnerships, may designate the last day of any month in the year as the day of the closing of its fiscal year, and shall be entitled to have the tax payable by it computed upon the basis of the net income ascertained as herein provided for the year ending on the day so designated in the year preceding the date of assessment instead of upon the basis of the net income for the calendar year preceding the date of assessment; and it shall give notice of the day it has thus designated as the closing of its fiscal year to the Collector of Internal Revenue at any time not less than thirty days prior to the first day of March of the year in which its return would be filed if made upon the basis of the calendar year.