Question & AnswerQ&A (Republic Act No. 445)
Republic Act No. 445 primarily amends Section 336 of Commonwealth Act No. 466 regarding the language in which corporate books and records must be kept.
Books and records must be kept in a native language, English, or Spanish.
No, keeping books or records in any language other than a native language, English, or Spanish is prohibited.
They must make a true and complete translation of all entries into a native language, English, or Spanish, certified under oath by the bookkeeper or manager.
The translation must be made by the bookkeeper or, in his absence, by the manager of the taxpayer.
They must certify the translation under oath as to its correctness.
The translation must form an integral part of the books of accounts.
It further amends Section 336 of Commonwealth Act No. 466 as amended by Republic Act No. 48.
The Act took effect upon its approval on June 7, 1950.
To ensure accessibility, accuracy, and official compliance in the keeping of corporate financial and accounting records.