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(b) Commissioner may prescribe a Minimumamount of gross
receipts, sales andtaxable base (taking into account thesales and
income of other personsengaged in similar business) :1. When a
person has failed to issue
receipts as reuired by !ec. 11"(#n$oice reuirements for
%&'registeredpersons) and !ec. "(#ssuance of *eceipts or
Commercial#n$oices)+ or. When the books of accounts orrecords do
not correctly reect thedeclarations made or reuired to bemade in a
return,such minimum amount shallbe prima facie correct-)
'erminate taxable period Commissioner shall declare the tax period
of a taxpayer terminated and send notice to thetaxpayer of
such decision /ith a reuest forimmediate payment of the tax, /hen
it hascome to the kno/ledge of the Commissioner:(RIRHO)(a) that a
taxpayer is Retiring from businesssub0ect to tax or(b) is Intending
to lea$e the hilippines or(c) to Remo$e his property therefrom
or(d) to Hide or conceal his property or(e) is performing any act
tending to Obstructthe proceedings for the collection of tax2)
rescribe *eal roperty %alues
'he Commissioner is authori3ed to:(a) di$ide the
hilippines into di4erent 3onesor areas and(b) determine the fair
market $alue of realproperties located in each 3one or areaFor tax
purposes, the value of the property shall be whichever is
higher of:(a) Fair market value as determined by theCommissioner;
or (b) Fair market value as shown in theschedule of values of
the provincial and city assessors5) &uthority to #nuire
into 6ank 7eposit 8ot/ithstanding *.&. 1-92 (6ank !ecrecy
a/) the Commissioner is authori3ed toinuire into the 6ank
deposits of:(a) a decedent to determine his gross estate(b) a
taxpayer /ho has ;led an application tocompromise payment of tax
liability byreason of ;nancial incapacity!he taxpayer"s application
for compromiseshall not be considered unless he waives inwriting
his privilege under #$ %&' and other
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general or special laws uch waiver shall authori*e the
Commissioner to in+uire intohis bank deposits) &uthority to
*egister tax agents (a) 'he Commissioner shall &ccredit
and*egister, indi$iduals and general
professional partnerships and their rep./ho prepare and ;le tax
returns andother papers or /ho appear before the6#*(b) 'he
Commissioner shall create nationaland regional accreditation
boards!hose who are denied accreditation may appeal the same
to the ec of Finance whoshall rule on the appeal within ' days
fromreceipt of such appeal Failure of the ec of Finance to
rule on the appeal within the said
period shall be deemed as approval
for accreditation.restrictions imposed under the rules
andregulations ?@C?', (the follo/ing po/ers shall8A' be delegated):
(RIR CoA A)
1) po/er to Recommend the promulgationof rules and regulations
by the !ec. of Binance) po/er to Issue rulings of ;rst
impressionor to Re$erse, re$oke, modify anyexisting rule of the
6#*") po/er to Compromise or Abate any taxliability?@C?', the
regional e$aluation boardmay compromise:(a) assessments issued by
regionalo=ces in$ol$ing de;ciency taxes of 299,999 or less+
and
(b) minor criminal $iolations as may be
Taxation Law Summer Reviewer
ATENEOCENTRALBAROPERATIONS 2007
age 11 of 1-2uick'imeD and a '#BB (Encompressed)
decompressorare needed to see this picture.
determined by the rules#egional -valuation .oard is
composed of:
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i #egional /irector as Chairmanii $sst #egional
/irector iii 0eads of the 1egal, $ssessment
and Collection /iviv #evenue /istrict 2fficer having
3urisdiction over the taxpayer -) po/er to Assign or
reassign internalre$enue o=cers to establishments /herearticles
sub0ect to excise tax are keptE. Assignment of Internal
Revenue Officers(Secs. 1 !17)
'he Commissioner may assign> reassign internalre$enue
o=cers:1) in$ol$ed in excise tax functions as often as
theexigencies of re$enue ser$ice may reuire+pro$ided that he shall
in no case stay in hisassignment for more than years (!ec. 15))
/ithout change in rank and salary, to other orspecial duties
connected /ith the enforcementand administration of internal
re$enue la/s asthe exigencies of the ser$ice may reuire+pro$ided
that o=cers assigned to performassessment or collection functions
shall notremain in the same assignment for more than "years+
assignment of o=cers and employees tospecial duties shall not
exceed 1 year (!ec. 1)F. Internal Revenue "istricts (Sec. #)
'he Commissioner, /ith appro$al of the !ec.
of Binance, shall di$ide the hilippines into suchnumber of
re$enue districts for administrati$epurposes. ?ach district shall
be under the super$isionof a *e$enue 7istrict A=cer.Duties of the
Commissioner: (PASO)
1) 'o Prescribe, pro$ide and distribute to the propero=cials the
reuisite licenses, internal re$enuestamps, labels, all other forms,
certi;cates,bonds, records, in$oices, books, receipts,instruments
and appliances used in administeringla/s falling /ithin the
0urisdiction of 6#*) 'o Ackno/ledge payment of any tax under
thisCode expressinga) the amount paid andb) the particular account
for /hich payment/as made (!ec.
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indirectly a particular taxpayer, shall befurnished to the
appropriate committee of Congress only /hen sitting in
?xecuti$e!ession, unless the taxpayer consents in/riting to such
disclosure-) !ubmit reports to the O$ersight Committee
through the Chairman of the Committee on Waysand Means of the
!enate and Gouse of *epresentati$es, on the exercise of his
po/ers of abatement and compromise of taxes (!ec. 9-)e$ery 5
months of each calendar year. (!ec. 9)NATIONAL INTERNAL REVENE
TA!ES: (Se".#$) (I VEE DOO)1) Income tax) Estate and 7onorFs tax")
Value&dded tax-) Other percentage tax2) Excise tax5)
Documentary stamp tax) !uch Other taxes as are or hereafter may
beimposed and collected by the 6#*TITLE II. TA! ON INCO%EDEFINITION
OF TER%S1) Person H an indi$idual, a trust, estate or corp.)
Cor&or'tion H include partnerships (distinguishbet/een ordinary
and general professionalpartnership)") ener' &rofession'
&'rtnershi& *partnerships formed for the sole purpose
of exercising their common profession, no part of itsincome
being deri$ed from engaging in any tradeor business-) Sh'res of
sto"+ H includes shares of stock of acorp., /arrants I options to
purchase shares of stock, as /ell as units of participation in
apartnership (except gen. professionalpartnership), 0oint stock
companies, 0ointaccounts, 0oint $entures taxable as
corp.,associations I recreation or amusement
