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Tax Code Notes

The National Internal Revenue Code of 1997 outlines the powers and duties of the Bureau of Internal Revenue (BIR) in assessing and collecting national internal revenue taxes. It includes provisions for obtaining information from various entities, including corporations and cooperatives, and mandates the submission of tax incentive reports to the BIR. The Commissioner of the BIR has the authority to interpret tax laws, decide tax cases, and summon individuals for testimony related to tax inquiries.

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7 views2 pages

Tax Code Notes

The National Internal Revenue Code of 1997 outlines the powers and duties of the Bureau of Internal Revenue (BIR) in assessing and collecting national internal revenue taxes. It includes provisions for obtaining information from various entities, including corporations and cooperatives, and mandates the submission of tax incentive reports to the BIR. The Commissioner of the BIR has the authority to interpret tax laws, decide tax cases, and summon individuals for testimony related to tax inquiries.

Uploaded by

alieemae9
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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NATIONAL INTERNAL REVENUE CODE OF 1997  Types of Information:

As amended by Republic Act (RA) No. 10963 (TRAIN), RA  Costs and volume of production.
11256, RA 11346, RA 11467 and RA 11534 (CREATE)  Receipts or sales and gross incomes of
taxpayers.
 Names, addresses, and financial statements
of:
SEC. 2. Powers and Duties of the Bureau of Internal o Corporations
Revenue. - The Bureau of Internal Revenue shall be under o Mutual fund companies
the supervision and control of the Department of Finance o Insurance companies
and its powers and duties shall comprehend the o Regional operating headquarters of
assessment and collection of all national internal revenue multinational companies
taxes, fees, and charges, and the enforcement of all o Joint accounts, associations, joint ventures,
forfeitures, penalties, and fines connected therewith, consortia
including the execution of judgments in all cases decided o Registered partnerships and their members.
in its favor by the Court of Tax Appeals and the ordinary  Specific Provisions:
courts. The Bureau shall give effect to and administer the  Cooperative Development Authority must
supervisory and police powers conferred to it by this Code submit a tax incentive report (includes
or other laws. information on income tax, value-added tax
(VAT), and other tax incentives availed by
SEC. 3. Chief Officials of the Bureau of Internal Revenue. cooperatives registered under Republic Act
– Commissioner ( chief) and (4) four Deputy No. 6938, as amended) to the BIR.
Commissioners (assistant chief)  Submission to Department of Finance:
 Information from the Cooperative
SEC. 4. Power of the Commissioner to Interpret Tax Laws Development Authority to be submitted to
and to Decide Tax Cases. – 1). Power to interpret the Department of Finance. ( data included in
provisions – Commissioner (subject to review by Republic Act No. 10708, also known as “The
Secretary of Finance) Tax Incentives Management and Transparency
Act (TIMTA).
2). Power to decide disputed assessments, refunds of
C. – to summon individuals liable for tax or req. to
internal revenue taxes, fees or other charges, penalties
file a return, officers or employees of such
imposed in relation thereto – Commissioner ( subject to
individuals, and any person in possession,
exclusive appellate jurisdiction of the Court of Tax
custody, or care of relevant books of accounts and
Appeals.)
accounting records. To provide information or
testimony.
SEC. 5. Power of the Commissioner to Obtain
D. To Take testimony (person concerned) under oath
Information, and to Summon, Examine, and Take
relevant to the inquiry.
Testimony of Persons.
E. to cause revenue officers and employees to make
a canvass from time to time of any revenue
A. To examine any book, paper, record, or other data
district or region and inquire after and concerning
which may be relevant or material to such
all persons therein who may be liable to pay any
inquiry;
internal revenue tax, and all persons owning or
B. Obtaining Information –
having the care, management or possession of
 Regular Collection:
any object with respect to which a tax is imposed.
 From individuals other than those under tax
audit or investigation.
LIMITATIONS: The Commissioner does not have the
 From national and local government offices,
authority to inquire into bank deposits, except as
agencies, instrumentalities, including Bangko
provided for in Section 6(F) of the Code.
Sentral ng Pilipinas, and government-owned
or controlled corporations.

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