As per the RMC No. 29-2019, all corporations, companies, partnerships, or persons that are required by law to pay internal revenue taxes shall keep and maintain books of accounts. Books of accounts may be maintained in the following manner:
● Manual Books of Accounts.
● Loose-leaf Books of Accounts (with Permit to Use).
● Computerized Books of Accounts (with Permit to Use).
Furthermore, books of accounts shall be always kept in the taxpayer’s place of business.