Objectives and Purpose
- Comprehensive study of additional revenue needs for accelerated national development.
- Re-examination of existing tax system and tax policy structure.
- Conduct research to improve tax system and policies.
- Review and pass judgment on all tax measures and revenue proposals.
- Recommend reforms to enhance revenue collection and administration.
- Formulate sound tax policy and efficient tax structure.
- Guided principles include:
- Avoid increasing average taxpayer's burden.
- Equitable tax contributions from all economy sectors.
- Emphasis on progressive taxation based on ability to pay.
- Preserve business incentives.
- Use tax structure for social and economic justice.
Powers and Authorities
- Access assistance from government departments and agencies.
- Ability to summon private citizens via subpoena to testify or produce records.
- Conduct hearings and gather testimonies as per internal rules.
- Members may administer oaths or affirmations to witnesses.
- Generally exercise necessary powers to fulfill objectives.
Composition and Appointment
- Nine-member governing body:
- 3 appointed by the President (government officials or private citizens).
- 3 Senators appointed by Senate President, including minority party representation.
- 3 Congressmen appointed by House Speaker, including minority party representation.
- Elect chairman and vice-chairman internally.
- Authority to appoint personnel with compensation fixed per Civil Service Laws.
- Quorum constituted by five members.
- Vacancies filled in same manner as original appointment without affecting powers.
- Compensation:
- Government official members receive no additional pay.
- Non-official members receive 25 pesos per diem when performing duties.
- Travel and necessary expenses reimbursed.
Reporting Requirements
- Submit report and recommendations to the President and congressional presiding officers.
- Deadline: within ten days after the next regular session of the Fourth Congress.
Funding
- Appropriation of 500,000 pesos from the National Treasury for the Commission's operations.
Effectivity
- The Act took effect immediately upon approval on May 15, 1959.