Bir Lecture
Bir Lecture
Bir Lecture
payment of the tax for the period so declared terminated and the tax for the
preceding year or quarter, and shall be subject to all the penalties, unless
paid within the time fixed in the demand made by the Commissioner.
Authority to Prescribe Real Property Values
The Commissioner is authorized to divide the Philippines into different zones
or areas and shall determine the fair market value of real properties located
in each zone or area.
For purpose of computing any internal revenue tax, the value of the property
is whichever the higher is of:
1. The fair market value as determined by the Commissioner or
2. The fair market value as shown in the schedule of values of the Provincial
and City Assessors.
Authority to Inquire Into Bank Deposit Accounts
Notwithstanding any contrary provision of Republic Act No. 1405 (Bank
Secrecy Law) and other general or special laws, the Commissioner is
authorized to inquire into the bank deposits of:
1. A decedent to determine his gross estate; and
2. Any taxpayer who has filed an application for compromise of his tax
liability by reason of financial incapacity to pay his tax liability.
In case a taxpayer files an application to compromise the payment of his tax
liabilities on his claim that his financial position demonstrates a clear liability
to pay the tax assessed, his application shall not be considered unless he
waves in writing his privilege under Republic Act No. 1405 or under other
general or special laws, and such waiver shall constitute the authority of the
Commissioner to inquire into the bank deposits of the taxpayer.
Issuance and Rulings of the Bureau of Internal Revenue
Revenue Regulations (RRs) are issuances signed by the secretary of Finance,
upon recommendation of the Commissioner of Internal Revenue, which
specify, prescribe or defines rules and regulations for the effective
enforcement of the provisions of the National Internal Revenue Code (NIRC)
and related statutes.
Revenue Memorandum Orders (RMOs) are issuances that provide directives
or instructions; prescribe guidelines; and outline processes, operations,
Income Tax
Estate and Donors Taxes
Value-Added-Tax
Other Percentages Taxes
Excise Taxes
Documentary Stamp Taxes
Other taxes imposed and collected by the Bureau of Internal Revenue