RMC No. 8-2023 — Circularizes the revised provision on the submission of Inventory List and other reporting requirements pursuant to Revenue Memorandum Circular No. 57-2015 Digest | Full Text | Annex A-C | Annex D

REPUBLIC OF THE PHILIPPINES BURE R t.

BUREAU OF INTERNAL REVENUE DEPARTMENT OF FINANCE National Office Building N 20 2023 1m

Quezon City

December 19, 2022

REVENUE MEMORANDUM CIRCULAR NO. 8.2023

SUBJECT : Requirements Pursuant to Revenue Memorandum Circular No. 57-2015 Revised Provision on the Submission of inventory List and Other Reporting

TO All Revenue Officials and Employees Concerned

Section 2 is hereby amended as follows: information reporting that seeks to provide reliable data and to maximize the quality and adequacy of such data for better monitoring and analysis of Inventory List per Revenue Memorandum Circular No. 57-2o15. This Circular is being issued to implement an expanded and improved landscape of accounting

"SECTION 2. PRESCR!BED FORMAT AND DEADLINE FOR SUBMISSION

to the annual inventory list, schedules/lists prescribed herein, in soft copies, using the format shown in Annex "A" (for manufacturing / merchandising or retail company); Annexes "B" and. "B- assets in working capital assets, e.g., accounts receivable and inventory, shall submit, in addition 1" (for real estate company) and Annex "C" (for construction industry)" (...) "All taxpayers with tangible asset-rich balance sheets, often with at ieast half of their total

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hereof, duly signed by the authorized representative of the taxpayer certifying that the Saved in Digital Versatile Disk-Recordable (DVD-R) or Universal Storage Bus (USB) Flash drive properly Iabelled and submitted, together with a notarized certification, as shown in Annex "D" data/information contained in the DVD-R or USB are true and correct. The soft copies of the inventory list including other applicable schedules shall be stored/

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Circular as wide a publicity as possible. All internal revenue officials and employees are hereby enjoined to be guided accordingly and give this

This Circular shall take effect immediately.

BUREAU OF INTERNAL REVENUE INTERNAL COMMUNICATIONS DIVISION TNTYYS e UMAGuI, JR

JAN 79) 2023 C Hssioner of Internal Revenue 001586

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