QuestionsQuestions (Republic Act No. 9994)
It shall be known as the “National Internal Revenue Code.”
The Collector of Internal Revenue and the Deputy Collector of Internal Revenue.
To collect national internal-revenue taxes, fees, and charges; enforce forfeitures, penalties, and fines; and administer supervisory and police power conferred by the Code or other laws.
Examples include: (1) canvassing procedures for provincial treasurers to discover taxable persons/property; (2) rules on labels/brands/marks for specific-tax goods; (3) conditions for labeling export-intended goods that would be subject to specific tax if not exported; (4) rules for institution and conduct of legal actions by revenue officers; (5) record-keeping conditions for persons authorized to keep prohibited drugs; (6) conditions for transfers of prohibited drugs among authorized possessors; (7) rules for bonded warehouse conveyance/storage and record-keeping; (8) rules for denaturing alcohol; and (9) procedures for collecting revenue and handling stamps.
For imported articles: the Insular Collector of Customs and subordinates are agents of the Collector of Internal Revenue. For other national internal revenue: provincial and city treasurers and their deputies are his deputies.
Expenses incurred by provincial/city/municipal authorities in collecting national internal revenue and enforcing laws under the Bureau, including court expenses in internal-revenue cases.
To ensure faithful execution and compliance with laws/regulations; aid in preventing/detecting/punishing frauds/delinquencies; examine the efficiency of Bureau officers under supervision and report neglect/incompetency/delinquency/malfeasance; and may suspend a storekeeper/secret service agent with notice and written reasons to the Collector.
The Collector, Deputy Collector, internal-revenue agents (including assistants/examiners), and provincial/city treasurers and deputies may make arrests and seizures for violation of any penal law or regulation administered by the Bureau; persons arrested must be immediately brought before a magistrate.
When a required report for assessment is not forthcoming within the time fixed, or when there is reason to believe the report is false, incomplete, or erroneous.
The Collector may declare the taxpayer’s tax period terminated and require immediate payment of tax for the terminated period and the preceding year/quarter (to the extent unpaid), with corresponding penalties unless paid within the requested time.
One per centum per annum where total net income does not exceed PHP 2,000; and two per centum per annum where income exceeds PHP 2,000 but does not exceed PHP 4,000.
A flat tax of 8% of entire net income from sources within the Philippines; but if such income exceeds PHP 80,000, the progressive rates in Section 21 apply; additionally, if the alien files a true and accurate return on time, tax is computed using Section 21 rates regardless of declared amount.
(a) PHP 1,000 for a single person or legally separated spouse; (b) PHP 2,500 for married persons (spouses not legally separated) or the head of a family (only one PHP 2,500 exemption for the couple if not legally separated); (c) PHP 500 per dependent legitimate/recognized natural/adopted child wholly dependent and under 21 (or incapable of self-support due to mental/physical defect), only if the taxpayer is the head of a family.
8% on total net income received in the preceding taxable year from all sources (excluding duly registered general co-partnerships).
Only 25% of dividends received by a corporation liable to tax under that Chapter is returnable for purposes of the tax.
An additional tax of 25% of the undistributed portion of accumulated profits or surplus, in addition to the regular tax under Section 24, computed and collected similarly.
Net income = gross income computed under Section 29 minus deductions allowed under Section 30. Gross income includes gains, profits, and income from salaries/wages/compensation, professions/vocations/trades/business/commerce, dealings in property, and income from interest, rents, dividends, securities, or transactions for gain/profit, plus gains/profits/income from any source whatever (subject to exclusions).