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Tax Code

REPUBLIC ACT NO. 8424
TAX REFORM ACT OF 1997
(Lifted from The Bureau of Internal Revenue Website)

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.

NIRC Outline

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 TAXES 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

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