Article 88p. 88

NATIONAL INTERNAL REVENUE CODE TAXATION, TARIFF and CUSTOMS LAWS

administration, that would bring about its economic and

financial viability.

All

water districts, through the Local Water Utilities

Administration, shall furnish the Committee on Ways and

Means for the Senate and House of Representatives,

respectively, on an annual basis, with statistical data and

financial statements regarding their operations and other

information

as

may

be

required,

for

purposes

of

monitoring compliance with the provisions of this Act [98]

and

reviewing

the

rationalization

for tax exemption

privileges. [99]

TITLE XII OVERSIGHT COMMITTEE

SEC.

290.

Congressional

Oversight

Committee.

-A

Congressional Oversight Committee, hereinafter referred

to as the Committee, is hereby constituted in accordance

with the provisions of this Code. The Committee shall be

composed of the Chairmen of the Committee on Ways

and Means of the Senate and House of Representatives

and four (4) additional members from each house, to be

designated

by

the

Speaker

of

the

House

of

Representatives and the Senate President, respectively.

The Committee shall, among others, in aid of legislation:

(1)

Monitor and ensure the proper implementation

of Republic Act No. 8240;

(2) Determine that the power of the Commissioner

to compromise and abate is reasonably exercised;

(3) Review the collection performance of the Bureau

of Internal Revenue; and

(4)

Review the implementation of the programs of

the Bureau of Internal Revenue.

In furtherance of the hereinabove cited objectives, the

Committee is empowered to require of the Bureau of

Internal Revenue, submission of all pertinent information,

including but not limited to: industry audits; collection

performance

data;

status report on criminal actions

initiated against persons; and submission of taxpayer

returns: Provided, however, That any return or return

information which can be associated with, or otherwise

identify, directly or indirectly, a particular taxpayer shall be

furnished the Committee only when sitting in Executive

Session

unless

such

taxpayer otherwise consents in

writing to such disclosure.

TITLE XIII REPEALING PROVISIONS

SEC. 291. In General. - All laws, decrees, executive orders,

rules and regulations or parts thereof which are contrary

to or inconsistent with this Code are hereby repealed,

amended or modified accordingly.

Repealing Clause of RA 10963:

SECTION 86. Repealing Clause . — The following

laws or provisions of laws are hereby repealed and the

persons and/or transactions affected herein are made

subject to the VAT provision of Title IV of the NIRC , as

amended:

(a) Section 3 of Presidential Decree (P.D.) 1972, s. 1985,

as amended, Sections 4 and 5 of Executive Order No.

(E.O.) 1057, s. 1985, and Section 4 of E.O. 1064, s. 1985,

insofar as the VAT tax exemption and tax credit is

concerned;

(b) Section 10, insofar as VAT exemption is concerned,

of Republic Act No. (R.A.) 6807 or An Act Converting the

Mati Community College into a State College to be known

as the Davao Oriental State College of Science and

Technology, Providing for a Charter for this Purpose,

Expanding

its

Curricular

Offerings,

Redirecting

its

Objectives, and Appropriating Funds Therefor;

(c) Sections 18 and 19, insofar as VAT exemption is

concerned,

of

R.A.

6847

or

The

Philippine

Sports

Commission Act;

(d)

Section

8(d),

last

paragraph,

insofar

as

VAT

exemption is concerned, of R.A. 7278 or An Act Amending

Commonwealth Act No. 111, as Amended by P.D. 460

entitled An Act to Create a Public Corporation to be

Known as the Boy Scouts of the Philippines, and to

Define its Powers and Purposes, by Strengthening the

Volunteer and Democratic Character of the Boy Scouts of

the Philippines and for Other Purposes;

(e) Section 1, insofar as VAT exemption is concerned,

of R.A. 7291 or An Act Restoring the Tax and Duty

Incentives Previously Enjoyed by the Veterans Federation

of

the

Philippines

under

Republic

Act

Numbered

Twenty-Six Hundred and Forty;

(f) Section 21, insofar as VAT exemption is concerned,

of R.A. 7306 or the Charter of the People's Television

Network, Inc.;

(g) Section 14, insofar as VAT exemption is concerned,

of R.A. 7354 or the Postal Service Act of 1992;

(h)

Section

9(c),

insofar

as

VAT

exemption

is

concerned, of R.A. 7355 or the Manlilikha ng Bayan Act;

(i) Section 21, insofar as VAT exemption is concerned,

of R.A. 7356 or the Law Creating the National Commission

for Culture and the Arts;

(j) Section 7(f), insofar as VAT exemption is concerned,

of R.A. 7371 or An Act Converting the Aklan Agricultural

College into Aklan State College of Agriculture, and

Appropriating Funds Therefor;

(k)

Section

12,

second

sentence,

insofar

as

VAT

exemption

is

concerned,

of

R.A.

7373

or

An

Act

Establishing the Eastern Visayas Science High School;

(l) Section 11(j), insofar as VAT exemption is concerned,

of R.A. 7605 or the Charter of the Philippine State College

of Aeronautics;

(m)

Section

126,

insofar

as

VAT

exemption

is

concerned, of R.A. 7653 or The New Central Bank Act;

(n) Section 14, insofar as VAT exemption is concerned,

of R.A. 7875 or the National Health Insurance Act of 1995;

(o) Section 18, insofar as VAT exemption is concerned,

and Section 18, last paragraph of R.A. 7884 or the National

Dairy Development Act of 1995;

(p) Section 8, insofar as VAT exemption is concerned,

of R.A. 8160 or An Act Granting the University of the

Philippines a Franchise to Construct, Install, Operate and

Maintain for Educational and Other Related Purposes,

Radio and Television Broadcasting Stations within the

University of the Philippines and in Such Other Areas

within the Scope of its Operation;

(q) Sections 2 and 16, insofar as VAT exemption is

concerned, of R.A. 8282 or The Social Security Act of 1997;

(r) Section 39, insofar as VAT exemption is concerned,

of R.A. 8291 or The Government Service Insurance System

Act of 1997;

(s) Section 4(c) and (f), insofar as VAT exemption is

concerned,

of

R.A.

8292

or

the

Higher

Education

Modernization Act of 1997;

(t) Section 25, insofar as VAT exemption is concerned,

of R.A. 8492 or the National Museum Act of 1998;

(u)

Section

3(h),

insofar

as

VAT

exemption

is

concerned,

of

R.A.

8502

or

the

Jewelry

Industry

Development Act of 1998;

(v) Article 65, insofar as VAT exemption and zero

rating is concerned, of regional or area headquarters and

zero-rating of the sale or lease of goods and property and

the rendition of services to regional or area headquarters,

and Article 67, insofar as VAT exemption is concerned, of

R.A. 8756; Provided , That existing RHQs and ROHQs

enjoying VAT exemption and zero-rating at the time of

the effectivity of TRAIN shall not be affected;

(w)

Section

7(c),

insofar

as

VAT

exemption

is

concerned, of R.A. 9045 or An Act Creating the Batangas

State University;

(x)

Section

7(c),

insofar

as

VAT

exemption

is

concerned, of R.A. 9055 or An Act Converting the Aklan

State

College

of

Agriculture

into

the

Aklan

State

University;

(y) Section 13, insofar as VAT exemption is concerned,

of R.A. 9083 or An Act Establishing the Sta. Rosa Science

and Technology High School in Sta. Rosa, Laguna;

© Compiled by RGL

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