Republic Acts1 min read
Section 46National Internal Revenue Code of 1997 (Republic Act No. 8424), Sec. 46
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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 one fiscal year to another, the net income shall, with the approval of the Commissioner, be computed on the basis of such new accounting period, subject to the provisions of Section 47.
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