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:. National Internal Revenue Code (NIRC)
NIRC Outline

TITLE XII OVERSIGHT COMMITTEE

SEC. 290. Congressional Oversight Committee. -

A Congressional Oversight Committee, hereinafter referred to as the Committee, is hereby constituted in accordance with the provisions of this Code. The Committee shall be composed of the Chairmen of the Committee on Ways and Means of the Senate and House Representatives and four (4) additional members from each house, to be designated by the Speaker of the House of Representatives and the Senate President, respectively.

The Committee shall, among others, in aid of legislation:

    (1) Monitor and ensure the proper implementation of Republic Act No. 8240;

    (2) Determine that the power of the Commissioner to compromise and abate is reasonably exercised;

    (3) Review the collection performance of the Bureau of Internal Revenue; and

    (4) Review the implementation of the programs of the Bureau of Internal Revenue.

In furtherance of the hereinabove cited objectives, the Committee is empowered to require of the Bureau of Internal Revenue, submission of all pertinent information, including but not limited to: industry audits; collection performance data; status report on criminal actions initiated against persons; and submission of taxpayer returns: Provided, however, That any return or return information which can be associated with, or otherwise identify, directly or indirectly, a particular taxpayer shall be furnished the Committee only when sitting in Executive Session unless such taxpayer otherwise consents in writing to such disclosure.


NIRC Outline
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