Bureau of Internal Revenue
Republic of the Philippines

REPUBLIC ACT NO. 8424
TAX REFORM ACT OF 1997

AN ACT AMENDING THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED, AND FOR OTHER PURPOSES

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

SECTION 1.  Short Title - This Act shall be cited as the "Tax Reform Act of 1997".

SECTION 2.  State Policy. – It is hereby declared the policy of the State to promote sustainable economic growth through the rationalization of the Philippine internal revenue tax system, including tax administration; to provide, as much as possible, an equitable relief to a greater number of taxpayers in order to improve levels of disposable income and increase economic activity; and to create a robust environment for business to enable firms to compete better in the regional as well as the global market, at the same time that the State ensures that Government is able to provide for the needs of those under its jurisdiction and care.

SECTION 3.  Presidential Decree No. 1158, as amended by, among others, Presidential Decree No. 1994 and Executive Order No. 273, otherwise known as the National Internal Revenue Code, is hereby further amended.  

TITLE I	Organization and Function of the Bureau of Internal Revenue
TITLE II	Tax on Income
TITLE III	Estate and Donor's Taxes
TITLE IV	Value Added Tax
TITLE V	Other Percentage Taxes
TITLE VI	Excise Tax on Certain Goods
TITLE VII	Documentary Stamp Tax
TITLE VIII	Remedies
TITLE IX	Compliance Requirements
TITLE X	Statutory Offenses and Penalties
TITLE XI	Allotment of Internal Revenue
TITLE XII	Oversight Committee
TITLE XIII	Repealing Provisions
TITLE XIV	Final Provisions
	Annexes