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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.
NATIONAL INTERNAL REVENUE CODE OF 1997 AND ITS AMENDMENTS
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R.A. No.
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TITLE
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Date of Approval
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Date of Effectivity
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R.A. 8424
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The National Internal Revenue Code of 1997
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December 11, 1997
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January 1, 1998
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| R.A. 8761
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An Act Imposing The Value-Added Tax on Certain Services Beginning January 1, 2001, Amending for the Purpose Section 5 of R.A. No. 8424 and for Other Purposes.
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February 15, 2000
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January 1, 2001
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| R.A. 9010
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An Act To Further Defer The Imposition Of The Value-Added Tax On Certain Services, Amending For The Purpose Section 5 of R.A. No. 8424, As Amended by R.A. No. 8761.
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February 27, 2001
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January 1, 2003
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| R.A. 9224
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An Act Rationalizing the Excise Tax on Automobiles, Amending for the Purpose the National Internal Revenue Code of 1997, and for Other Purposes.
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August 29, 2003
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October 4, 2003 (published on September 18, 2003)
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| R.A. 9238
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An Act Amending Certain Sections of the National Internal Revenue Code of 1997, as Amended, by Excluding Several Services from the Coverage of the Value-added Tax and Re-imposing the Gross Receipts Tax on Banks and Non-bank Financial Intermediaries Performing Quasi-Banking Functions and Other Non-Bank Financial Intermediaries Beginning January 1, 2004.
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Lapsed into law on Feb. 5, 2004 without the signature of the President in accordance with Article VI, Section 27(1) of the Constitution.
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January 1, 2004
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| R.A. 9243
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An Act Rationalizing the Provisions on the Documentary Stamp Tax of The National Internal Revenue Code of 1997, as Amended, and for Other Purposes.
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February 17, 2004
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March 20, 2004
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| R.A. 9294
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An Act Restoring the Tax Exemption of Offshore Banking Units (OBUs) and Foreign Currency Deposit Units (FCDUs), Amending for the Purpose Section 27(D)(3) and Section 28, Paragraphs (A)(4) and (A)(7)(b) of the National Internal Revenue Code, as Amended.
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Approved by the President on April 28, 2004
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May 21, 2004
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| R.A. 9334
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An Act Increasing the Excise Tax Rates Imposed on Alcohol and Tobacco Products, Amending for the Purpose Sections 131, 141, 142, 143, 144, 145 and 288 of the National Internal Revenue Code of 1997, as Amended.
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December 31, 2004
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January 1, 2005
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| R.A. 9337
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An Act Amending Sections 27, 28, 34, 106, 107, 108, 109, 110, 111, 112, 113, 114, 116, 117, 119, 121, 148, 151, 236, 237 and 288 of the National Internal Revenue Code of 1997, as Amended, and for Other Purposes.
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Approved on May 24, 2005.
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Its effectivity clause provides that it shall take effect July 1, 2005 but due to a TRO filed by some taxpayers. The law finally took effect November 1, 2005 when the TRO was finally lifted by the Supreme Court
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| R.A. 9361
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An Act Amending Section 110(B) of the National Internal Revenue Code of 1997, as Amended, and for Other Purposes.
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Approved on November 21, 2006
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December 13, 2006 (published on November 28, 2006)
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| R.A. 9504
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An Act Amending Sections 22, 24, 34, 35, 51 and 79 of Republic Act No. 8424, As Amended, Otherwise Known as the National Internal Revenue Code of 1997.
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Approved on June 17, 2008 and took effect on July 6, 2008.
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July 6, 2008
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| R.A. 10001
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Publishing the full text of Republic Act No. 10001 entitled "An Act Reducing Taxes on Life Insurance Policies, Amending for this Sections 123 and 183 of the National Internal Revenue Code of 1997, as Amended."
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Approved February 23, 2010
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| R.A. 10021
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An Act to Allow the Exchange of Information By The Bureau of Internal Revenue On Tax Matters Pursuant to Internationally-Agreed Tax Standards, Amending Section 6(F), and 270 Of The National Internal Revenue Code, As Amended and For Other Purposes.
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Approved March 8, 2010
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| R.A. 10026
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An Act Granting Income Tax Exemption To Local Water Districts by Amending Section 27 (C) of the National Internal Revenue Code of 1997 As Amended, and Adding Section 289-A To The Code For the Purposes.
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Lapsed into law on March 11, 2010 without the signature of the President, in accordance with Article VI, Section 27 (1) of the Constitution.)
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NIRC Outline
TITLE I ORGANIZATION AND FUNCTION OF THE BUREAU OF INTERNAL REVENUE
TITLE II TAX ON INCOME
CHAPTER VII - ALLOWABLE DEDUCTIONS - A
CHAPTER VII - ALLOWABLE DEDUCTIONS - B
CHAPTER I - DEFINITIONS
CHAPTER II - GENERAL PRINCIPLES
CHAPTER III - TAX ON INDIVIDUALS
CHAPTER IV - TAX ON CORPORATIONS
CHAPTER V - COMPUTATION OF TAXABLE INCOME
CHAPTER VI - COMPUTATION OF GROSS INCOME
CHAPTER VII - ALLOWABLE DEDUCTIONS
CHAPTER VIII - ACCOUNTING PERIODS AND METHODS OF ACCOUNTING
CHAPTER IX - RETURNS AND PAYMENT OF TAX
CHAPTER X - ESTATES AND TRUSTS
CHAPTER XI - OTHER INCOME TAX REQUIREMENTS
CHAPTER XII - QUARTERLY CORPORATE INCOME TAX ANNUAL DECLARATION AND QUARTERLY PAYMENTS OF INCOME TAXES
CHAPTER XIII - WITHHOLDING ON WAGES
TITLE III ESTATE AND DONOR'S TAXES
CHAPTER I - ESTATE TAX
CHAPTER II - DONOR'S TAX
TITLE IV VALUE- ADDED TAX
CHAPTER I - IMPOSITION OF TAX
CHAPTER II - COMPLIANCE REQUIREMENTS
TITLE V OTHER PERCENTAGE TAXES
TITLE VI EXCISE TAXES ON CERTAIN GOODS
CHAPTER I - GENERAL PROVISIONS
CHAPTER II - EXEMPTION OR CONDITIONAL TAX-FREE REMOVAL OF CERTAIN ARTICLES
CHAPTER III- EXCISE TAX ON ALCOHOL PRODUCTS
CHAPTER IV - EXCISE TAX ON TOBACCO PRODUCTS
CHAPTER V - EXCISE TAX ON PETROLEUM PRODUCTS
CHAPTER VI – EXCISE TAX ON MISCELLANEOUS ARTICLES
CHAPTER VII – EXCISE TAX ON MINERAL PRODUCTS
CHAPTER VIII - ADMINISTRATIVE PROVISIONS REGULATING BUSINESS OF PERSONS DEALING IN ARTICLES SUBJECT TO EXCISE TAX
TITLE VII DOCUMENTARY STAMP TAX
TITLE VIII REMEDIES
CHAPTER I - REMEDIES IN GENERAL
CHAPTER II - CIVIL REMEDIES FOR COLLECTION OF TAXES
CHAPTER III – PROTESTING AN ASSESSMENT, REFUND, ETC.
TITLE IX COMPLIANCE REQUIREMENTS
CHAPTER I - KEEPING OF BOOKS OF ACCOUNTS AND RECORDS
CHAPTER II - ADMINISTRATIVE PROVISIONS
CHAPTER III - RULES AND REGULATIONS
TITLE X STATUTORY OFFENSES AND PENALTIES
CHAPTER I - ADDITIONS TO THE TAX
CHAPTER II - CRIMES, OTHER OFFENSES AND FORFEITURES
CHAPTER III - PENALTIES IMPOSED ON PUBLIC OFFICERS
CHAPTER IV - OTHER PENAL PROVISIONS
TITLE XI ALLOTMENT OF INTERNAL REVENUE
CHAPTER I - DISPOSITION AND ALLOTMENT OF NATIONAL INTERNAL REVENUE IN GENERAL
CHAPTER II - SPECIAL DISPOSITION OF CERTAIN NATIONAL INTERNAL REVENUE TAXES
TITLE XII OVERSIGHT COMMITTEE
TITLE XIII REPEALING PROVISIONS
TITLE XIV FINAL PROVISIONS
ANNEXES
Annex A-1
Annex A-2
Annex A-3
Annex A-4
Annex B
Annex C-1
Annex C-2
Annex D
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