Amending Revenue Regulations No. 17-2013 dealing with the “Preservation of Books of Accounts and Other Accounting Records” (RR 5-14)

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Within the first five (5) years the taxpayer shall retain hardcopies of the books of accounts, including subsidiary books and other accounting record and thereafter, the taxpayer may retain only an electronic copy of the hardcopy (paper) of the books of accounts, subsidiary books and other accounting records in an electronic storage system.  For further information, please see the ff link: RR 5-14