ChanRobles Virtual law Library
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SEC. 2. Powers and duties of the Bureau of Internal Revenue SEC. 3. Chief officials of the Bureau of Internal Revenue SEC. 4. Power of the Commissioner to interpret tax laws and to decide tax cases SEC. 5. Power of the Commissioner to obtain information, and to summon, examine, and take testimony of persons SEC. 6. Power of the Commissioner to make assessments and prescribe additional requirements for tax administration and enforcement (A) Examination of returns and determination of tax due (B) Failure to submit required returns, statements, reports and other documents (C) Authority to conduct inventory-taking, surveillance and to prescribe presumptive gross and receipts (D) Authority to terminate taxable period (E) Authority of the Commissioner to prescribe real property values (F) Authority of the Commissioner to inquire into bank deposit account (G) Authority to accredit and register tax agent (H) Authority of the Commissioner to prescribe additional procedural or documentary requirements SEC. 7. Authority of the Commissioner to delegate powers SEC. 8. Duty of the Commissioner to ensure the provision and distribution of forms, receipts certificates, and appliances, and the acknowledgment of payment of taxes (A) Provision and distribution to proper official (B) Receipts for payment made SEC. 9. Internal revenue districts SEC. 10. Revenue Regional Director SEC. 11. Duties of Revenue District Officers and other internal revenue officers SEC. 12. Agents and deputies for collection of national internal revenue taxes SEC. 13. Authority of Revenue Officer SEC. 14. Authority of officers to administer oaths and take testimony SEC. 15. Authority of internal revenue officers to make arrests and seizures SEC. 16. Assignment of internal revenue officers involved in excise tax functions to establishments where article subject to excise tax are produced or kept SEC. 17. Assignment of internal revenue officers and other employees to other duties SEC. 18. Reports of violation of laws SEC. 19. Contents of Commissioner's Annual Report SEC. 20. Submission of report and pertinent information by the Commissioner (A) Submission of pertinent information to Congress (B) Report of Oversight Committee SEC. 21. Sources of revenue
(A) Rate of income tax on individual citizen and individual resident alien of the Philippines (B) Rates of tax on certain passive incomes (C) Capital gains from sales of shares of stock not traded in the stock
SEC. 25. Tax on nonresident alien individual (A) Nonresident alien engaged in trade or business within the Philippines (B) Nonresident alien individual not engaged in trade or business within the Philippines (C) Alien individual employed by regional or area headquarters and regional operating headquarters of multinational company (D) Alien individual employed by offshore banking units (E) Alien individual employed by petroleum service contractor and subcontractor SEC. 26. Tax liability of members of general professional partnerships SEC. 27.
Rates
of income tax on domestic corporations
SEC. 31. Taxable income defined SEC. 32. Gross
income
SEC. 34. Deductions from gross income (A) Expenses (1) Ordinary and necessary trade, business or professional expenses (2) Expenses allowable to private educational institutions (B) Interest (1) In general (2) Exceptions (3) Optional treatment of interest expense (C) Taxes (1) In general (2) Limitations on deductions (3) Credit against tax for taxes of foreign countries (4) Limitations on credit (5) Adjustments on payment of incurred taxes (6) Year in which credit taken (7) Proof of credits (D) Losses (1) In general (2) Proof of loss (3) Net operating loss carry-over (4) Capital losses (5) Losses on wash sales of stock or securities (6) Wagering losses (7) Abandonment losses (E) Bad debts (1) In general (2) Securities becoming worthless (F) Depreciation (1) General rule (2) Use of certain methods and rates (3) Agreement as to useful life in which depreciation rate is based (4) Depreciation of properties used in petroleum operations (5) Depreciation of properties used in mining operations (6) Depreciation deductible by nonresident aliens engaged in trade or business or resident foreign corporations (G) Depletion of oil and gas wells and mines (1) In general (2) Election to deduct exploration and development expenditures (3) Depletion of oil and gas wells and mines deductible by a nonresident alien individual or foreign corporation (H) Charitable and other contributions (1) In general (2) Contributions deductible in full (3) Valuation (4) Proof of deductions (I) Research and development (1) In general (2) Amortization of certain research and development expenditures (3) Limitations on deduction (J) Pension trusts (K) Additional requirements for deductibility of certain payments (L) Optional standard deduction (M) Premium payments on health and/or hospitalization insurance of an individual taxpayer SEC. 35. Allowance of personal exemption for individual taxpayer (A) In general (B) Additional exemption for dependents (C) Change of status (D) Personal exemptions allowable to nonresident alien individual SEC. 36. Items not deductible (A) General rule (B) Losses from sales or exchange of property SEC. 37. Special provisions regarding income in deductions of insurance companies, whether domestic or foreign (A) Special deductions allowed to insurance companies (B) Mutual insurance companies (C) Mutual marine insurance companies (D) Assessment insurance companies SEC. 38. Losses from wash sales of stock or securities SEC. 39. Capital gains and losses (A) Definition (B) Percentage taken into account (C) Limitation on capital losses (D) Net capital loss carry-over (E) Retirement of bonds, etc. (F) Gains and losses from short sales, etc. SEC. 40. Determination of amount of and recognition of gain or loss (A) Computation of gain or loss (B) Basis for determining gain or loss from sale or disposition of property (C) Exchange or property (1) General rule (2) Exception (3) Exchange not solely in kind (4) Assumption of liability (5) Basis (6) Definitions SEC. 41. Inventories SEC. 42. Income from sources within the Philippines (A) Gross income from sources within the Philippines (1) Interests (2) Dividends (3) Services (4) Rentals and royalties (5) Sale of real property (6) Sale of personal property (B) Taxable income from sources within the Philippines (1) General rule (2) Exception (C) Gross income from sources without the Philippines (D) Taxable income from sources without the Philippines (E) Income from sources partly within and partly without the Philippines (F) Definitions SEC. 43.
General rule
SEC. 51.
Individual
returns
SEC. 60.
Imposition
of tax
SEC. 68. Information at source as to income payments SEC. 69. Return of information of brokers SEC. 70. Returns of foreign corporations (A) Requirements (B) From and contents of return SEC. 71. Disposition of income returns; publication of lists of taxpayers and filers SEC. 72. Suit to recover tax based on false or fraudulent returns SEC. 73. Distribution of dividends or assets by corporations (A) Definitions of dividend (B) Stock dividend (C) Dividends distributed are deemed made from most recently accumulated profits (D) Net income of a partnership deemed constructively received by partners SEC. 74.
Declaration
of income tax for individuals
SEC. 78.
Definitions
SEC. 84. RAtes
of
estate tax
SEC. 87.
Exemption
of certain acquisitions and transmissions
SEC. 98. Imposition of tax SEC. 99. Rates of tax payable by donor (A) In general (B) Tax payable by donor if donee is a stranger (C) Campaign contributions SEC. 100. Transfer for less than adequate and full consideration SEC. 101. Exemption of certain gifts (A) In the case of gifts made by a resident (B) In the case of gifts made by a nonresident not citizen of the Philippines (C) Tax credit for donor's taxes paid to a foreign country SEC. 102. Valuation of gifts made in property SEC. 103. Filing of return and payment of tax SEC. 104. Definitions SEC. 105. Persons liable SEC. 106. Value-added tax on sale of goods or properties (A) Rate and base of tax (B) Transactions deemed sale (C) Changes in or cessation of status of a VAT-registered person (D) Determination of the tax SEC. 107. Value-added tax on importation of goods (A) In general (B) Transfer of goods by tax-exempt persons SEC. 108. Value-added tax on sale of services and use or lease of properties (A) Rate and bas of tax (B) Transactions subject to zero percent (0%) rate (C) Determination of the tax SEC. 109. Exempt transaction SEC. 110. Tax credits (A) Creditable input tax (B) Excess output or input tax (C) Determination of creditable input tax SEC. 111. Transitional/presumptive input tax credit (A) Transitional input tax credit (B) Presumptive input tax credits SEC. 112. Refunds or tax credits of creditable input tax (A) Zero-rated or effectively zero-rated sales (B) Capital goods (C) Cancellation of VAT registration (D) Period within refund or tax credit of input taxes shall be made (E) Manner of giving refund SEC. 113. Invoicing
and
accounting requirements for VAT-registered persons
SEC. 116. Tax on
persons
exempt from value-added tax (VAT)
SEC. 129. Goods
subject
to excise taxes
SEC. 133. Removal of wines and distilled spirits for treatment of tobacco leaf SEC. 134. Domestic denatured alcohol SEC. 135. Petroleum products sold to international carriers and exempt entities or agencies SEC. 136. Denaturation, withdrawal and use of denatured alcohol SEC. 137. Removal of spirits under bond for rectification SEC. 138. Removal of fermented liquors to bonded warehouse SEC. 139. Removal of damaged liquors free of tax SEC. 140. Removal of tobacco products without prepayment of tax SEC. 141. Distilled spirits SEC. 142. Wines SEC. 143. Fermented liquors SEC. 144. Tobacco
Products
SEC. 148.
Manufactured oils
and other fuels
SEC. 149. Automobiles
SEC. 151. Mineral
products
SEC. 152. Extent of supervision over establishments producing taxable output SEC. 153. Records to be kept by manufacturers; assessments based thereon SEC. 154. Premises subject to approval by Commissioner SEC. 155. Manufacturers to provide themselves with counting oe meeting devices to determine production SEC. 156. Labels and form of packages SEC. 157. Removal of articles after the payment of tax SEC. 158. Storage of goods in internal-revenue bonded warehouses SEC. 159. Proof of exportation; exporter's bond SEC. 160. Manufacturers' and importers' bond (A) Initial bond (B) Bond for the succeeding years of operation SEC. 161. Records to be kept by the wholesale dealers SEC. 162. Records to be kept by dealers in leaf of tobacco SEC. 163. Preservation of invoices and stamps SEC. 164. Information to be given by manufacturers, importers, indentors, and wholesalers of any apparatus or mechanical contrivance specially for the manufacture of articles subject to excise tax and importers, indentors, manufacturers or sellers of cigarette paper in bobbins, cigarette tipping paper or cigarette filter tips SEC. 165. Establishment of distillery warehouse SEC. 166. Custody of distillery or distillery warehouse SEC. 167. Limitation on quantity of spirits removed from warehouse SEC. 168. Denaturing within premises SEC. 169. Recovery of alcohol for use in arts and industries SEC. 170. Requirements governing rectification and compounding of liquors SEC. 171. Authority of internal revenue officer in searching for taxable articles SEC. 172. Detention of package containing taxable articles SEC. 173. Stamp
taxes upon
documents, instruments, loan, agreements, instruments and
SEC. 202. Final deed to purchaser SEC. 203. Period of limitation upon assessment and collection SEC. 204. Authority of the Commissioner to compromise, abate, and refund or credit taxes SEC. 205. Remedies for the collection of delinquent taxes SEC. 206. Constructive distraint of the property of a taxpayer SEC. 207. Summary remedies (A) Distraint of personal property (B) Levy on real estate property SEC. 208. Procedure for distraint and garnishment SEC. 209. Sale of property distrained and disposition of proceeds SEC. 210. Release of distrained property upon payment prior to sale SEC. 211. Report of sale to Bureau of Internal Revenue SEC. 212. Purchase by Government at sale upon distraint SEC. 213. Advertisement and sale SEC. 214. Redemption of property sold SEC. 215. Forfeiture to Government for want of bidder SEC. 216. Resale of real estate taken for taxes SEC. 217. Further distraint or levy SEC. 218. Injunction not available to restrain collection of tax SEC. 219. Nature and extent of tax lien SEC. 220. Form and mode of proceeding in actions arising under this Code SEC. 221. Remedy for enforcement of statutory penal provisions SEC. 222. Exceptions as to period of limitation of assessment and collection taxes SEC. 223. Suspension of running of Statute of Limitations SEC. 224. Remedy for enforcement of forfeitures SEC. 225. When property to be sold or destroyed SEC. 226. Disposition of funds recovered in legal proceedings or obtained from forfeitures SEC. 227. Satisfaction of judgment recovered against any internal revenue officer SEC. 228. Protesting of assessment SEC. 229. Recovery of tax erroneously or illegally collected SEC. 230. Forfeiture of cash refund and of tax credit (A) Forfeiture of refund (B) Forfeiture of tax credit (C) Transitory provision SEC. 231. Action to contest forfeiture of chattel SEC. 232. Keeping of books of accounts (A) Corporations, companies, partnerships or persons required to keep books of accounts (B) Independent Certified Public Accountant defined SEC. 233. Subsidiary books SEC. 234. Language in which books are to be kept; translation SEC. 235. Preservation of books of accounts and other accounting records SEC. 236. Registration requirements (A) Requirements (B) Annual registration fee (C) Registration of each type of internal revenue tax (D) Transfer of registration (E) Other updates (F) Cancellation of registration (G) Persons commencing business (H) Persons becoming liable to the value-added tax (I) Optional registration of exempt person (J) Supplying of Taxpayer Identification Number (TIN) SEC. 237. Issuance of receipts or sales or commercial invoices SEC. 238. Printing of receipts or sales or commercial invoices SEC. 239. Sign to be exhibited by distiller, rectifier, compounder, repacker and wholesale liquor dealer SEC. 240. Sign to be exhibited by manufacturer of products of tobacco SEC. 241. Exhibition of certificate of payment at place of business SEC. 242. Continuation of business of deceased person SEC. 243. Removal of business to other location SEC. 244. Authority of Secretary of Finance to promulgate rules and regulations SEC. 245. Specific provisions to be contained in rules and regulations SEC. 246. Non-retroactivity of rulings SEC. 247. General provisions SEC. 248. Civil penalties SEC. 249. Interest (A) In general (B) Deficiency interest (C) Delinquency interest (D) Interest on extended payment SEC. 250. Failure to file certain information returns SEC. 251. Failure of a withholding agent to collect and remit tax SEC. 252. Failure of a withholding agent to refund excess withholding tax SEC. 253. General provisions SEC. 254. Attempt to evade or defeat tax SEC. 255. Failure to file return, supply correct and accurate information, pay tax, withhold and remit tax and refund excess taxes withheld on compensation SEC. 256. Penal liability of corporations SEC. 257. Penal liability for making false entries, records or reports, or using falsified or fake accountable forms SEC. 258. Unlawful pursuit of business SEC. 259. Illegal collection of foreign payments SEC. 260. Unlawful possession of cigarette paper in bobbins or rolls, etc. SEC. 261. Unlawful use of denatured alcohol SEC. 262. Shipment or removal of liquor or tobacco products under false name or brand or as an imitation of any existing or otherwise known product name or brand SEC. 263. Unlawful possession or removal of articles subject to excise tax without payment of the tax SEC. 264. Failure or refusal to issue receipts or sales or commercial invoices, violations related to the printing of such receipts or invoices, and other violations SEC. 265. Offenses relating to stamps SEC. 266. Failure to obey summons SEC. 267. Declaration under penalties of perjury SEC. 268. Other crimes and offenses (A) Misdeclaration or misrepresentation of manufacturers subject ot excise tax (B) Forfeiture of property used in unlicensed business or dies used for printing used for printing false stamps, etc. (C) Forfeiture of goods illegally stored or removed SEC. 269. Violations committed by Government enforcement officers SEC. 270. Unlawful divulgence of trade secrets SEC. 271. Unlawful interest of revenue law enforcers in business SEC. 272. Violation of withholding tax provision SEC. 273. Penalty for failure to issue and execute warrant SEC. 274. Penalty for second and subsequent offenses SEC. 275. Violation of other provisions of this Code or regulations in general SEC. 276. Penalty for selling, transferring, encumbering or in any way disposing of property placed under constructive distraint SEC. 277. Failure to surrender property placed under distraint and levy SEC. 278. Procuring unlawful divulgence of trade secrets SEC. 279. Confiscation and forfeiture of the proceeds or instruments of crime SEC. 280. Subsidiary penalty SEC. 281. Prescription for violations of any provision of this Code SEC. 282. Informer’s reward to persons instrumental in the discovery of violation of the National Internal Revenue Code and in the discovery and seizure of smuggled goods SEC. 283. Disposition of national internal revenue SEC. 284. Allotment for the Commission on Audit SEC. 285. Allotment for the Bureau of Internal Revenue SEC. 286.
Disposition of
proceeds of insurance premium tax
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