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:. National Internal Revenue Code (NIRC)

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

R.A. No. TITLE Date of Approval Date of Effectivity
R.A. 8424 The National Internal Revenue Code of 1997 December 11, 1997 January 1, 1998
R.A. 8761 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. February 15, 2000 January 1, 2001
R.A. 9010 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. February 27, 2001 January 1, 2003
R.A. 9224 An Act Rationalizing the Excise Tax on Automobiles, Amending for the Purpose the National Internal Revenue Code of 1997, and for Other Purposes. August 29, 2003 October 4, 2003 (published on September 18, 2003)
R.A. 9238 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. Lapsed into law on Feb. 5, 2004 without the signature of the President in accordance with Article VI, Section 27(1) of the Constitution. January 1, 2004
R.A. 9243 An Act Rationalizing the Provisions on the Documentary Stamp Tax of The National Internal Revenue Code of 1997, as Amended, and for Other Purposes. February 17, 2004 March 20, 2004
R.A. 9294 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. Approved by the President on April 28, 2004 May 21, 2004
R.A. 9334 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. December 31, 2004 January 1, 2005
R.A. 9337 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. Approved on May 24, 2005. 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
R.A. 9361 An Act Amending Section 110(B) of the National Internal Revenue Code of 1997, as Amended, and for Other Purposes. Approved on November 21, 2006 December 13, 2006 (published on November 28, 2006)
R.A. 9504 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. Approved on June 17, 2008 and took effect on July 6, 2008. July 6, 2008
R.A. 10001 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." Approved February 23, 2010  
R.A. 10021 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. Approved March 8, 2010  
R.A. 10026 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. Lapsed into law on March 11, 2010 without the signature of the President, in accordance with Article VI, Section 27 (1) of the Constitution.)  

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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