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A lawmaker has called on the House Committee on Ways and Means to conduct an inquiry into the judicial setback of regulations issued by the Bureau of Internal Revenue (BIR) and the Department of Finance (DOF) outside the authority given them by the National Internal Revenue Code (NIRC), as amended, which may lead to capital flight and bear crippling effects on the economy.
She did not file income tax returns for 2011 and 2012 in violation of the National Internal Revenue Code.
She said HB 5020 proposes the amendment of Section 35(B) of Republic Act 8424, otherwise known as the National Internal Revenue Code of 1997, as amended by RA 9504, so that it shall now read "There shall be allowed an additional exemption of P25,000 for each dependent.
He said when the National Internal Revenue Code (NIRC) was passed in 1997, the statutory intent was to tax those classified as Salary Grade 28 and higher.
Rodriguez (Treasurer), for willful attempt to evade or defeat payment of Income Tax (IT) and Value Added Tax (VAT), deliberate failure to file its Income Tax Return (ITR) and failure to pay tax thereon, and willful failure to supply correct and accurate information in its VAT Returns for taxable year 2006, in violation of Sections 254 and 255, in relation to Sections 253 and 256, of the National Internal Revenue Code of 1997, as amended (Tax Code).
In House Bill 4600, or the proposed "Flat Tax Tate for Professionals Act," he proposed the amendment of Section 22 of the National Internal Revenue Code (NIRC) of 1997, as amended, by adding the definition of professionals after Subsection (GC).
Under Section 35 of the National Internal Revenue Code or Republic Act 8424, as amended by R.
The bill provides that any donation, contribution, request or grant which shall be made to the "Adopt-a-Wildlife Species Program" by the adopting entity or individual shall be exempt from the donor's tax and the same shall be considered as allowable deduction from gross income in the computation of the donor's income tax, in accordance with the provisions of the National Internal Revenue Code of 1997, as amended.