REPUBLIC ACT NO. 8424 TAX REFORM ACT OF 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 Representatives of the Philippines in Congress assembled:
SECTION 1. Short Title - This Act shall be cited as the the "Tax Reform Act of 1997". 1997".
SECTION 2. State Policy. 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 Presidential Decree No. 1994 and Executive Order No. 273, otherwise known as the National Internal Revenue Code, is hereby further amended.
NATIONAL INTERNAL REVENUE CODE OF 1997 AND ITS AMENDMENTS
R.A. No.
TITLE
Date of Approval
Date of Effectivity
December 11, 1997
January 1, 1998
R.A. 8424
The National Internal Revenue Code of 1997
R.A. 8761
An Act Imposing The Value-Added Tax on Certain Services Beginning January 1, 2001, Amending for the Purpose Section 5 of R.A. No. 8424 and for Other Purposes.
February 15, 2000
January 1, 2001
R.A. 9010
An Act To Further Defer The Imposition Of The Value-Added Tax On Certain Services, Amending For The Purpose Section 5 of R.A. No. 8424, As Amended by R.A. No. 8761.
February 27, 2001
January 1, 2003
R.A. 9224
An Act Rationalizing the Excise Tax on Automobiles, Amending for the Purpose the National Internal Revenue Code of 1997, and for Other Purposes.
August 29, 2003
October 4, 2003 (published on September 18, 2003)
R.A. 9238
An Act Amending Certain Sections of the National Internal Revenue Code of 1997, as Amended, by Excluding Several Services from the Coverage of the Value-added Tax and Re-imposing the Gross Receipts Tax on Banks and Non-bank Financial Intermediaries Intermediaries Performing Quasi-Banking Functions and Other Non-Bank Financial Intermediaries Beginning January 1, 2004.
Lapsed into law on Feb. 5, 2004 without the signature of the President in accordance with Article VI, Section 27(1) of the Constitution.
January 1, 2004
R.A. 9243
An Act Rationalizing the Provisions on the Documentary Stamp Tax of The National Internal Revenue Code of 1997, as Amended, and for Other Purposes.
February 17, 2004
March 20, 2004
R.A. 9294
An Act Restoring the Tax Exemption of Offshore Banking Units (OBUs) and Approved by the President on April Foreign Currency Deposit Units (FCDUs), Amending for the Purpose Section 28, 2004 27(D)(3) and Section 28, Paragraphs (A)(4) and (A)(7)(b) of the National Internal Revenue Code, as Amended.
R.A. 9334
An Act Increasing the Excise Tax Rates Imposed on Alcohol and Tobacco Products, Amending for the Purpose Sections 131, 141, 142, 143, 144, 145 and 288 of the National Internal Revenue Code of 1997, as Amended.
December 31, 2004
January 1, 2005
R.A. 9337
An Act Amending Sections 27, 28, 34, 106, 107, 108, 109, 110, 111, 112, 113, 114, 116, 117, 119, 121, 148, 151, 236, 237 and 288 of the National Internal Revenue Code of 1997, as Amended, and for Other Purposes.
Approved on May 24, 2005.
Its effectivity clause provides that it shall take effect July 1, 2005 but due to a TRO filed by some taxpayers. The law finally took effect November 1, 2005 when the TRO was finally lifted by the Supreme Court
R.A. 9361
An Act Amending Section 110(B) of the National Internal Revenue Code of 1997, as Amended, and for Other Purposes.
Approved on November 21, 2006
December 13, 2006 (published on November 28, 2006)
R.A. 9504
An Act Amending Sections 22, 24, 34, 35, 51 and 79 of Republic Act No. 8424, As Amended, Otherwise Known as the National Internal Revenue Code of 1997.
Approved on June 17, 2008 and took effect on July 6, 2008.
July 6, 2008
R.A. 10001
Publishing the full text of Republic Act No. 10001 entitled "An Act Reducing Taxes on Life Insurance Policies, Amending for this Sections 123 and 183 of the National Internal Revenue Code of 1997, as Amended."
Approved February 23, 2010
R.A. 10021
An Act to Allow the Exchange of Information By The Bureau of Internal Revenue On Tax Matters Pursuant to Internationally-Agreed Internationally-Agreed Tax Standards, Amending Section 6(F), and 270 Of The National Internal Revenue Code, As Amended and For Other Purposes.
Approved March 8, 2010
R.A. 10026
An Act Granting Income Tax Exemption To Local Water Districts by Amending Section 27 (C) of the National Internal Revenue Code of 1997 As Amended, and Adding Section 289-A To The Code For the Purposes.
Lapsed into law on March 11, 2010 without the signature of the President, in accordance with Article VI, Section 27 (1) of the Constitution.)
May 21, 2004
