Section 10Sec./Art. 10

A new Section 290-A is hereby added in the National Internal Revenue , Code of 1997, as amended, to read as follows;

"SEC. 290-A.Joint Congressional OversightCommittee on Illicit Trade on Excisable Products.-A Joint Congressional Oversight Committee, herein referred to as the Oversight Committee on Illicit Trade on Excisable Products, shall be constituted. The Oversight Committee on Illicit Trade on Excisable Products shall be composed of the respective Chairpersons of the Committees on Ways and Means of the Senate and the House of Representatives as co-chairpersons and six (6) additional members from each House to be designated respectively by the Senate President and the Speaker of the House of Representatives.

"The Oversight Committee on Illicit Trade on Excisable Products shall, in aid of legislation, perform the following duties and functions, among others:

"(1) Review and evaluate the programs and performance of the Bureau of Internal Revenue and the Bureau of Customs in addressing illicit trade on excisable products and recommend necessary remedial legislation;

"(2) Require concerned government agencies to submit reports and all pertinent data and information which will aid in resolving illicit trade of excisable products;

"(3) Hold public hearings and summon concerned private individuals, government personnel and officials as resource persons;

"(4) Deputize the Bureau of Internal Revenue, Bureau of Customs, Philippine National Police, National Bureau of Investigation, and other enforcement agencies of the government as may be necessary in undertaking its duties and functions; and

"(5) Perform such other duties and functions as may be necessary to perform its mandate.

"The Joint Congressional Oversight Committee shall be assisted by a Secretariat composed of even number of monitors from, both Houses. It shall be co-headed by the service directors of the Committees on Ways and Means of the Senate and the House of Representatives."