QuestionsQuestions (EXECUTIVE ORDER NO. 52)
It requires certain documents to indicate the TIN to help trace and record taxpayers’ taxable transactions under a computerized system of tax administration by the BIR, thereby improving determination of tax liabilities.
The Bureau of Internal Revenue (BIR).
Sugar quedans, refined sugar release orders, or similar instruments reflecting the TIN of the owner or seller of the sugar.
The TINs of the shippers and the consignees of commercial-value shipments.
Documents to be registered with the Registry of Deeds must reflect the TINs of persons who are parties to the real property transactions.
Registration certificates to reflect the TINs of owners of transportation equipment by land, sea, or air.
Building construction permits must reflect the TINs of owners and contractors of buildings and civil works.
Yes. Section 1(f) allows coverage of other documents that may later be required under revenue regulations promulgated by the Secretary of Finance.
Any person who fails to comply, including involved parties in the transactions and the government functionary monitoring or regulating them, shall be subject to the appropriate sanctions under the National Internal Revenue Code and other pertinent laws and regulations.
No. It generally refers to sanctions under the National Internal Revenue Code and other pertinent laws and regulations.
The Secretary of Finance, upon the recommendation of the Commissioner of Internal Revenue.
They must provide for a phase implementation of the Executive Order.
It must enter into a Memorandum of Agreement with appropriate national government agencies and local government units to formulate procedures ensuring full compliance.
To give preferential budgetary support to the BIR’s tax administration function and all appropriate programs designed to improve tax collection effectiveness.
It took effect immediately.
It states that the BIR is initiating a fully integrated computerization of tax administration and that the BIR database must contain relevant taxpayer information (including TINs) for tracing taxable transactions and correct tax computation.