- Section 1. Short Title
- Section 2. State Policy
- Section 3.
- Section 4.
- Section 5. Transitory Provisions
- Section 6. Separability Clause
- Section 7. Repealing Clauses
- TITLE I ORGANIZATION AND FUNCTION OF THE BUREAU OF INTERNAL REVENUE
- Section 1. Title of the Code
- Section 2. Powers and duties of the Bureau of Internal Revenue
- Section 3. Chief Officials of the Bureau of Internal Revenue.
- Section 4. Power of the Commissioner to Interpret Tax Laws and to Decide Tax Cases
- Section 5. Power of the Commissioner to Obtain Information, and to Summon, Examine, and Take Testimony of Persons
- Section 6. Power of the Commissioner to Make assessments and Prescribe additional Requirements for Tax Administration and Enforcement
- Section 7. Authority of the Commissioner to Delegate Power
- Section 8.
- Section 9. Internal Revenue Districts
- Section 10. Revenue Regional Director
- Section 11. Duties of Revenue District Officers and Other Internal Revenue Officers
- Section 12. Agents and Deputies for Collection of National Internal Revenue Taxes
- Section 13. Authority of a Revenue Offices
- Section 14. Authority of Officers to Administer Oaths and Take Testimony
- Section 15. Authority of Internal Revenue Officers to Make Arrests and Seizures
- Section 16. Assignment of Internal Revenue Officers Involved in Excise Tax Functions to Establishments Where Articles subject to Excise Tax are Produced or Kept.
- Section 17. Assignment of Internal Revenue Officers and Other Employees to Other Duties.
- Section 18. Reports of violation of Laws
- Section 19. Contents of Commissioner's Annual Report.
- Section 20. Submission of Report and Pertinent Information by the Commissioner
- Section 21. Sources of Revenue
- TITLE II TAX ON INCOME
- CHAPTER I - DEFINITIONS
- CHAPTER II - GENERAL PRINCIPLES
- CHAPTER III - TAX ON INDIVIDUALS
- CHAPTER IV - TAX ON CORPORATIONS
- CHAPTER V - COMPUTATION OF TAXABLE INCOME
- CHAPTER VI - COMPUTATION OF GROSS INCOME
- CHAPTER VII - ALLOWABLE DEDUCTIONS
- Section 34. Deductions from Gross Income
- Section 35. Allowance of Personal Exemption for Individual Taxpayer
- Section 36. Items not Deductible
- Section 37. Special Provisions Regarding Income and Deductions of Insurance Companies, Whether Domestic or Foreign
- Section 38. Losses from Wash Sales of Stock or Securities
- Section 39. Capital Gains and Losses
- Section 40. Determination of Amount and Recognition of Gain or Loss.
- Section 41. Inventories
- Section 42. Income from Sources Within the Philippines
- CHAPTER VIII - ACCOUNTING PERIODS AND METHODS OF ACCOUNTING
- Section 43. General Rule
- Section 44. Period in which Items of Gross Income Included
- Section 45. Period for which Deductions and Credits Taken.
- Section 46. Change of Accounting Period
- Section 47. Final or Adjustment Returns for a Period of Less than Twelve (12) Months
- Section 48. Accounting for Long-term Contracts
- Section 49. Installment Basis
- Section 50. Allocation of Income and Deductions
- CHAPTER IX - RETURNS AND PAYMENT OF TAX
- Section 51. Individual Return
- Section 52. Corporation Returns
- Section 53. Extension of Time to File Returns
- Section 54. Returns of Receivers, Trustees in Bankruptcy or Assignees
- Section 55. Returns of General Professional Partnerships
- Section 56. Payment and Assessment of Income Tax for Individuals and Corporation
- Section 57. Withholding of Tax at Source
- Section 58. Returns and Payment of Taxes Withheld at Source
- Section 59. Tax on Profits Collectible from Owner or Other Persons.
- CHAPTER X - ESTATES AND TRUSTS
- CHAPTER XI - OTHER INCOME TAX REQUIREMENTS
- Section 67. Collection of Foreign Payments
- Section 68. Information at Source as to Income Payments
- Section 69. Return of Information of Brokers.
- Section 70. Returns of Foreign Corporations
- Section 71. Disposition of Income Tax Returns, Publication of Lists of Taxpayers and Filers
- Section 72. Suit to Recover Tax Based on False or Fraudulent Returns
- Section 73. Distribution of dividends or Assets by Corporations
- CHAPTER XII - QUARTERLY CORPORATE INCOME TAX ANNUAL DECLARATION AND QUARTERLY PAYMENTS OF INCOME TAXES
- CHAPTER XIII - WITHHOLDING ON WAGES
- TITLE III ESTATE AND DONOR'S TAXES
- CHAPTER I - ESTATE TAX
- Section 84. Rates of Estate Tax
- Section 85. Gross Estate
- Section 86. Computation of Net Estate
- Section 87. Exemption of Certain Acquisitions and Transmissions
- Section 88. Determination of the Value of the Estate
- Section 89. Notice of Death to be Filed.
- Section 90. Estate Tax Returns.
- Section 91. Payment of Tax
- Section 92. Discharge of Executor or Administrator from Personal Liability
- Section 93. Definition of Deficiency
- Section 94. Payment before Delivery by Executor or Administrator
- Section 95. Duties of Certain Officers and Debtors
- Section 96. Restitution of Tax Upon Satisfaction of Outstanding Obligations
- Section 97. Payment of Tax Antecedent to the Transfer of Shares, Bonds or Rights
- CHAPTER II - DONOR'S TAX
- Section 98. Imposition of Tax
- Section 99. Rates of Tax Payable by Donor
- Section 100. Transfer for Less Than Adequate and full Consideration
- Section 101. Exemption of Certain Gifts
- Section 102. Valuation of Gifts Made in Property
- Section 103. Filing of Return and Payment of Tax
- Section 104. Definitions
- CHAPTER I - ESTATE TAX
- TITLE IV VALUE- ADDED TAX
- CHAPTER I - IMPOSITION OF TAX
- Section 105. Persons Liable.
- Section 106. Value-Added Tax on Sale of Goods or Properties
- Section 107. Value-Added Tax on Importation of Goods
- Section 108. Value-added Tax on Sale of Services and Use or Lease of Properties
- Section 109. Exempt Transactions.
- Section 110. Tax Credits.
- Section 111. Transitional/Presumptive Input Tax Credits
- Section 112. Refunds or Tax Credits of Input Tax
- CHAPTER II - COMPLIANCE REQUIREMENTS
- CHAPTER I - IMPOSITION OF TAX
- TITLE V OTHER PERCENTAGE TAXES
- Section 116. Tax on Persons Exempt from Value-Added Tax (VAT).
- Section 117. Percentage Tax on Domestic Carriers and Keepers of Garages
- Section 118. Percentage Tax on International Carriers
- Section 119. Tax on Franchises
- Section 120. Tax on Overseas Dispatch, Message or Conversation Originating from the Philippines
- Section 121. Tax on Banks and Non-bank Financial Intermediaries.
- Section 122. Tax on Finance Companies
- Section 123. Tax on Life Insurance Premiums
- Section 124. Tax on Agents of Foreign Insurance Companies.
- Section 125. Amusement Taxes.
- Section 126. Tax on Winnings
- Section 127. Tax on Sale, Barter or Exchange of Shares of Stock Listed and Traded through the Local Stock Exchange or through Initial Public Offering.
- Section 128. Returns and Payment of Percentage Taxes
- TITLE VI EXCISE TAX ON CERTAIN GOODS
- CHAPTER I - GENERAL PROVISIONS
- CHAPTER II - EXEMPTION OR CONDITIONAL TAX-FREE REMOVAL OF CERTAIN ARTICLES
- Section 133. Removal of Wines and distilled Spirits for Treatment of Tobacco Leaf
- Section 134. Domestic Denatured Alcohol
- Section 135. Petroleum Products Sold to International Carriers and Exempt Entities or Agencies
- Section 136. Denaturation, Withdrawal and Use of Denatured Alcohol.
- Section 137. Removal of Spirits Under Bond for Rectification
- Section 138. Removal of Fermented Liquors to Bonded Warehouse
- Section 139. Removal of Damaged Liquors Free of Tax
- Section 140. Removal of Tobacco Products without Prepayment of Tax
- CHAPTER III- EXCISE TAX ON ALCOHOL PRODUCTS
- CHAPTER IV - EXCISE TAX ON TOBACCO PRODUCTS
- CHAPTER V - EXCISE TAX ON PETROLEUM PRODUCTS
- CHAPTER VII - EXCISE TAX ON MINERAL PRODUCTS
- CHAPTER VIII - ADMINISTRATIVE PROVISIONS REGULATING BUSINESS OF PERSONS DEALING IN ARTICLES SUBJECT TO EXCISE TAX
- Section 152. Extent of Supervision Over Establishments Producing Taxable Output
- Section 153. Records to be Kept by Manufacturers; Assessment Based Thereon.
- Section 154. Premises Subject to Approval by Commissioner
- Section 155. Manufacturers to Provide Themselves with Counting or Metering Devices to Determine Production
- Section 156. Labels and Form of Packages
- Section 157. Removal of Articles After the Payment of Tax.
- Section 158. Storage of Goods in Internal-revenue Bonded Warehouses
- Section 159. Proof of Exportation; Exporter's Bond
- Section 160. Manufacturers' and Importers' Bond
- Section 161. Records to be Kept by Wholesale Dealers
- Section 162. Records to be Kept by Dealers in Leaf Tobacco
- Section 163. Preservation of Invoices and Stamps
- Section 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.
- Section 165. Establishment of Distillery Warehouse
- Section 166. Custody of Distillery or Distillery Warehouse
- Section 167. Limitation on Quantity of Spirits Removed from Warehouse
- Section 168. Denaturing Within Premises
- Section 169. Recovery of Alcohol for Use in Arts and Industries
- Section 170. Requirements Governing Rectification and Compounding of Liquors
- Section 171. Authority of Internal Revenue Officer in Searching for Taxable Articles
- Section 172. Detention of Package Containing Taxable Articles
- TITLE VII DOCUMENTARY STAMP TAX
- Section 173. Stamp Taxes Upon Documents, Loan Agreements, Instruments and Papers
- Section 174. Stamp Tax on Debentures and Certificates of Indebtedness
- Section 175. Stamp Tax on Original Issue of Shares of Stock
- Section 176. Stamp Tax on Sales, Agreements to Sell, Memoranda of Sales, Deliveries or Transfer of Due-bills, Certificates of Obligation, or Shares of Certificates of Stock
- Section 177. Stamp Tax on Bonds, Debentures, Certificate of Stock or Indebtedness Issued in Foreign Countries
- Section 178. Stamp Tax on Certificates of Profits or Interest in Property or Accumulations
- Section 179. Stamp Tax on Bank Checks, Drafts, Certificates of Deposit not Bearing Interest, and Other Instruments
- Section 180. Stamp Tax on All Bonds, Loan Agreements, promissory Notes, Bills of Exchange, Drafts, Instruments and Securities Issued by the Government or Any of its Instrumentalities, Deposit Substitute Debt Instruments, Certificates of Deposits Bearing Interest and Others Not Payable on Sight or Demand.
- Section 181. Stamp Tax Upon Acceptance of Bills of Exchange and Others
- Section 182. Stamp Tax on Foreign Bills of Exchange and Letters of Credit
- Section 183. Stamp Tax on Life Insurance Policies
- Section 184. Stamp Tax on Policies of Insurance Upon Property
- Section 185. Stamp Tax on Fidelity Bonds and Other Insurance Policies
- Section 186. Stamp Tax on Policies of Annuities and Pre-Need Plans
- Section 187. Stamp Tax on Indemnity Bonds.
- Section 188. Stamp Tax on Certificates
- Section 189. Stamp Tax on Warehouse Receipts
- Section 190. Stamp Tax on Jai-Alai, Horse Racing Tickets, lotto or Other Authorized Numbers Games
- Section 191. Stamp Tax on Bills of Lading or Receipts
- Section 192. Stamp Tax on Proxies
- Section 193. Stamp Tax on Powers of Attorney
- Section 194. Stamp tax on Leases and Other Hiring Agreements
- Section 195. Stamp Tax on Mortgages, Pledges and Deeds of Trust
- Section 196. Stamp tax on Deeds of Sale and Conveyances of Real Property
- Section 197. Stamp Tax on Charter Parties and Similar Instruments
- Section 198. Stamp Tax on Assignments and Renewals of Certain Instruments
- Section 199. Documents and Papers Not Subject to Stamp Tax.
- Section 200. Payment of Documentary Stamp Tax
- Section 201. Effect of Failure to Stamp Taxable Document
- TITLE VIII REMEDIES
- CHAPTER I - REMEDIES IN GENERAL
- CHAPTER II - CIVIL REMEDIES FOR COLLECTION OF TAXES
- Section 205. Remedies for the Collection of Delinquent Taxes
- Section 206. Constructive Distraint of the Property of A Taxpayer
- Section 207. Summary Remedies
- Section 208. Procedure for Distraint and Garnishment
- Section 209. Sale of Property Distrained and Disposition of Proceeds
- Section 210. Release of Distrained Property Upon Payment Prior to Sale
- Section 211. Report of Sale to Bureau of Internal Revenue
- Section 212. Purchase by Government at Sale Upon Distraint
- Section 213. Advertisement and Sale
- Section 214. Redemption of Property Sold.
- Section 215. Forfeiture to Government for Want of Bidder
- Section 216. Resale of Real Estate Taken for Taxes
- Section 217. Further Distraint or Levy
- Section 218. Injunction not Available to Restrain Collection of Tax.
- Section 219. Nature and Extent of Tax Lien
- Section 220. Form and Mode of Proceeding in Actions Arising under this Code.
- Section 221. Remedy for Enforcement of Statutory Penal Provisions.
- Section 222. Exceptions as to Period of Limitation of Assessment and Collection of Taxes.
- Section 223. Suspension of Running of Statute of Limitations. -
- Section 224. Remedy for Enforcement of Forfeitures
- Section 225. When Property to be Sold or Destroyed
- Section 226. Disposition of funds Recovered in Legal Proceedings or Obtained from Forfeitures
- Section 227. Satisfaction of Judgment Recovered Against any Internal Revenue Officer.
- CHAPTER III - PROTESTING AN ASSESSMENT, REFUND, ETC
- TITLE IX COMPLIANCE REQUIREMENTS
- CHAPTER I - KEEPING OF BOOKS OF ACCOUNTS AND RECORDS
- CHAPTER II - ADMINISTRATIVE PROVISIONS
- Section 236. Registration Requirements
- Section 237. Issuance of Receipts or Sales or Commercial Invoices
- Section 238. Printing of Receipts or Sales or Commercial Invo
- Section 239. Sign to be Exhibited by Distiller, Rectifier, Compounder, Repacker and Wholesale Liquor Dealer.
- Section 240. Sign to be exhibited by manufacturer of Products of Tobacco
- Section 241. Exhibition of Certificate of Payment at Place of Business
- Section 242. Continuation of Business of Deceased Person.
- Section 243. Removal of Business to Other Location
- CHAPTER III - RULES AND REGULATIONS
- TITLE X STATUTORY OFFENSES AND PENALTIES
- CHAPTER I - ADDITIONS TO THE TAX
- CHAPTER II - CRIMES, OTHER OFFENSES AND FORFEITURES
- Section 253. General Provisions
- Section 254. Attempt to Evade or Defeat Tax
- Section 255. Failure to File Return, Supply Correct and Accurate Information, Pay Tax Withhold and Remit Tax and Refund Excess Taxes Withheld on Compensation.
- Section 256. Penal Liability of Corporations
- Section 257. Penal Liability for Making False Entries, Records or Reports, or Using Falsified or Fake Accountable Forms
- Section 258. Unlawful Pursuit of Business
- Section 259. Illegal Collection of Foreign Payments
- Section 260. Unlawful Possession of Cigarette Paper in Bobbins or Rolls, Etc
- Section 261. Unlawful Use of Denatured Alcohol
- Section 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
- Section 263. Unlawful Possession or Removal of Articles Subject to Excise Tax without Payment of the Tax
- Section 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
- Section 265. Offenses Relating to Stamps
- Section 266. Failure to Obey Summons
- Section 267. Declaration under Penalties of Perjury
- Section 268. Other Crimes and Offenses
- CHAPTER III - PENALTIES IMPOSED ON PUBLIC OFFICERS
- Section 269. Violations Committed by Government Enforcement Officers
- Section 270. Unlawful Divulgence of Trade Secrets
- Section 271. Unlawful Interest of Revenue Law Enforcers in Business
- Section 272. Violation of Withholding Tax Provision
- Section 273. Penalty for Failure to Issue and Execute Warrant
- CHAPTER IV - OTHER PENAL PROVISIONS
- Section 274. Penalty for Second and Subsequent Offenses
- Section 275. Violation of Other Provisions of this Code or Rules and Regulations in General
- Section 276. Penalty for Selling, Transferring, Encumbering or in any way Disposing of Property Placed under Constructive Distraint
- Section 277. Failure to Surrender Property Placed under Distraint and Levy
- Section 278. Procuring Unlawful Divulgence of Trade Secrets
- Section 279. Confiscation and Forfeiture of the Proceeds or Instruments of Crime
- Section 281. Prescription for Violations of any Provision of this Code
- Section 282. Informer's Reward to Persons Instrumental in the Discovery of Violations of the National Internal Revenue Code and in the Discovery and Seizure of Smuggled Goods.
- TITLE XI ALLOTMENT OF INTERNAL REVENUE
- CHAPTER 1 - DISPOSITION AND ALLOTMENT OF NATIONAL INTERNAL REVENUE IN GENERAL
- CHAPTER II - SPECIAL DISPOSITION OF CERTAIN NATIONAL INTERNAL REVENUE TAXES
- Section 286. Disposition of Proceeds of insurance Premium Tax.
- Section 287. Shares of Local Government Units in the Proceeds from the Development and Utilization of the National Wealth
- Section 288. Disposition of Incremental Revenues
- Section 289. Special Financial Support to Beneficiary Provinces Producing Virginia Tobacco
- TITLE XII OVERSIGHT COMMITTEE
- TITLE XIII REPEALING PROVISIONS
- TITLE XIV FINAL PROVISIONS
Republic of the Philippines Congress of the Philippines Metro Manila
Tenth Congress
Republic Act No. 8424 December 11, 1997
AN ACT AMENDING THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED, AND FOR OTHER PURPOSES
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled::
Section 1. Short Title. - This Act shall be cited as the "Tax Reform Act of 1997".
Section 2. State Policy. - It is hereby declared the policy of the State to promote sustainable economic growth through the rationalization of the Philippine internal revenue tax system, including tax administration; to provide, as much as possible, an equitable relief to a greater number of taxpayers in order to improve levels of disposable income and increase economic activity; and to create a robust environment for business to enable firms to compete better in the regional as well as the global market, at the same time that the State ensures that Government is able to provide for the needs of those under its jurisdiction and care.
Section 3. Presidential Decree No. 1158, as amended by, among others, Presidential Decree No. 1994 and Executive Order No. 273, otherwise known as the National Internal Revenue Code, is hereby further amended.
TITLE I Organization and Function of the Bureau of Internal Revenue
TITLE II Tax on Income
Chapter I Definitions
Chapter II General Principles
Chapter III Tax on Individuals
Chapter IV Tax on Corporations
Chapter V Computation of Taxable Income
Chapter VI Computation of Gross Income
Chapter VII Allowable Deductions
Chapter VIII Accounting Periods and Methods of Accounting
Chapter IX Returns and Payment of Tax
Chapter X Estates and Trusts
Chapter XI Other Income Tax Requirements
Chapter XII Quarterly Corporate Income Tax Annual Declaration and Quarterly Payments of Income Taxes
Chapter XIII Withholding on Wages
TITLE III Estate and Donor's Taxes
Chapter I Estate Tax
Chapter II Donor's Tax
TITLE IV Value Added Tax
Chapter I Imposition of Tax
Chapter II Compliance Requirements
TITLE V Other Percentage Taxes
TITLE VI Excise Tax on Certain Goods
Chapter I General Provisions
Chapter II Exemption or Conditional Tax-Free Removal of Certain Articles
Chapter III Excise Tax on Alcohol Products
Chapter IV Excise Tax on Tobacco Products
Chapter V Excise Tax on Petroleum Products
Chapter VI Excise Tax on Miscellaneous Articles
Chapter VII Excise Tax on Mineral Products
Chapter VIII Administrative Provisions Regulating Business of Persons Dealing in Articles Subject to Excise Tax
TITLE VII Documentary Stamp Tax
TITLE VIII Remedies
Chapter I Remedies in General
Chapter II Civil Remedies for Collection of Taxes
Chapter III Protesting an Assessment, Refund, etc.
TITLE IX Compliance Requirements
Chapter I Keeping of Books of Accounts and Records
Chapter II Administrative Provisions
Chapter III Rules and Regulations
TITLE X Statutory Offenses and Penalties
Chapter I Additions to the Tax
Chapter II Crimes, Other Offenses and Forfeitures
Chapter III Penalties Imposed on Public Officers
Chapter IV Other Penal Provisions
TITLE XI Allotment of Internal Revenue
Chapter I ADisposition and Allotment of National Internal Revenue in General
Chapter II Special Disposition of Certain National Internal Revenue Taxes
TITLE XII Oversight Committee
TITLE XIII Repealing Provisions
TITLE XIV Final Provisions
Section 4. The Secretary of Finance shall, upon recommendation of the Commissioner of Internal Revenue, promulgate and publish the necessary rules and regulations for the effective implementation of this Act.
Section 5. Transitory Provisions - Deferment of the Effectivity of the Imposition of VAT on Certain Services. - The effectivity of the imposition of the value-added tax on services as prescribed in Section 17(a) and (b) of Republic Act No. 7616, as amended by Republic Act. 8241, is hereby further deferred until December 31, 1999, unless Congress deems otherwise: Provided, That the said services shall continue to pay the applicable tax prescribed under the present provisions of the National Internal Revenue Code, as amended.
Section 6. Separability Clause. - If any provision of this Act is subsequently declared unconstitutional, the validity of the remaining provisions hereof shall remain in full force and effect.
Section 7. Repealing Clauses. -(A) The provision of Section 17 of Republic Act No. 7906, otherwise known as the "Thrift Banks Acts of 1995" shall continue to be in force and effect only until December 31, 1999.
Effective January 1, 2000, all thrift banks, whether in operation as of that date or thereafter, shall no longer enjoy tax exemption as provided under Section 17 of R.A. No. 7906, thereby subjecting all thrift banks to taxes, fees and charges in the same manner and at the same rate as banks and other financial intermediaries.
(B) The provisions of the National Internal Revenue Code, as amended, and all other laws, including charters of government-owned or controlled corporations, decrees, orders, or regulations or parts thereof, that are inconsistent with this Act are hereby repealed or amended accordingly.
Section 8. Effectivity - This Act shall take effect on January 1, 1998.
TITLE I ORGANIZATION AND FUNCTION OF THE BUREAU OF INTERNAL REVENUE
Section 1. Title of the Code. - This Code shall be known as the National Internal Revenue Code of 1997.
Section 2. Powers and duties of the Bureau of Internal Revenue. - The Bureau of Internal Revenue shall be under the supervision and control of the Department of Finance and its powers and duties shall comprehend the assessment and collection of all national internal revenue taxes, fees, and charges, and the enforcement of all forfeitures, penalties, and fines connected therewith, including the execution of judgments in all cases decided in its favor by the Court of Tax Appeals and the ordinary courts. The Bureau shall give effect to and administer the supervisory and police powers conferred to it by this Code or other laws.
Section 3. Chief Officials of the Bureau of Internal Revenue. - The Bureau of Internal Revenue shall have a chief to be known as Commissioner of Internal Revenue, hereinafter referred to as the Commissioner and four (4) assistant chiefs to be known as Deputy Commissioners.
Section 4. Power of the Commissioner to Interpret Tax Laws and to Decide Tax Cases. - The power to interpret the provisions of this Code and other tax laws shall be under the exclusive and original jurisdiction of the Commissioner, subject to review by the Secretary of Finance.
The power to decide disputed assessments, refunds of internal revenue taxes, fees or other charges, penalties imposed in relation thereto, or other matters arising under this Code or other laws or portions thereof administered by the Bureau of Internal Revenue is vested in the Commissioner, subject to the exclusive appellate jurisdiction of the Court of Tax Appeals.
Section 5. Power of the Commissioner to Obtain Information, and to Summon, Examine, and Take Testimony of Persons. - In ascertaining the correctness of any return, or in making a return when none has been made, or in determining the liability of any person for any internal revenue tax, or in collecting any such liability, or in evaluating tax compliance, the Commissioner is authorized:
(A) To examine any book, paper, record, or other data which may be relevant or material to such inquiry;
(B) To Obtain on a regular basis from any person other than the person whose internal revenue tax liability is subject to audit or investigation, or from any office or officer of the national and local governments, government agencies and instrumentalities, including the Bangko Sentral ng Pilipinas and government-owned or -controlled corporations, any information such as, but not limited to, costs and volume of production, receipts or sales and gross incomes of taxpayers, and the names, addresses, and financial statements of corporations, mutual fund companies, insurance companies, regional operating headquarters of multinational companies, joint accounts, associations, joint ventures of consortia and registered partnerships, and their members;
(C) To summon the person liable for tax or required to file a return, or any officer or employee of such person, or any person having possession, custody, or care of the books of accounts and other accounting records containing entries relating to the business of the person liable for tax, or any other person, to appear before the Commissioner or his duly authorized representative at a time and place specified in the summons and to produce such books, papers, records, or other data, and to give testimony;