Section 15Sec./Art. 15

Section 52 of the NIRC, as amended, is hereby further amended to read as follows:

"Sec. 52. Corporation Returns -

"(A) Requirements. - Every corporation subject to the tax herein imposed, except foreign corporations not engaged in trade or business in the Philippines, shall render, in duplicate, a true and accurate quarterly income tax return and final or adjustment return in accordance with the provisions of Chapter XII of this Title. The income tax return shall consist of a maximum of four (4) pages in paper form or electronic form, be filed by the president, vice president or other principal officer, shall be sworn to by such officer and by the treasurer or assistant treasurer, and shall only contain the following information:

"(1) Corporate profile and information;

"(2) Gross sales, receipts or income from services rendered, or conduct of trade or business, except income subject to final tax as provided under this Code;

"(3) Allowable deductions under this Code; "(4) Taxable income as defined in Section 31 of this Code; and

"(5) Income tax due and payable.

Provided, That the foregoing provisions shall not affect the implementation of Republic Act No. 10708 or TIMTA.

"x x x."