Frequently Asked Questions
What is NTRC's involvement in current tax issues?
NTRC’s involvement in current tax issues includes the following:
1. Provides comments on House Bills and Senate Bills on tax proposals
2. Prepares facts, figures and notes about the concerned tax
- Briefer/Notes about the concerned tax
- Profile of affected stakeholders
- Historical amendments introduced to the concerned tax
- Revenue collection on the tax
- Revenue estimates of the tax proposal
- Other related statistics concerning the tax proposal and practices in selected countries
3. Provides technical assistance to the DOF during the deliberations conducted by the House and Senate Committees on Ways and Means on tax bills
4. Provides comprehensive study or assessment of concerned taxes and recently enacted tax laws.
On the other hand, NTRC’s Inter-Agency involvement relative to fiscal matters is as follows:
1. The NTRC acts as the Technical Secretariat of the Fiscal Incentives Review Board (FIRB) which grants tax subsidy to Government-Owned or Controlled Corporations (GOCCs) and the Commissaries in accordance with Executive Order (EO) 93, series of 1986 and the annual General Appropriations Act (GAA).
2. The NTRC serves as the Secretariat to the Task Force on Fees and Charges which monitors the compliance of collecting agencies to Administrative Order (AO) No. 31 as implemented by DOF-DBM-NEDA Joint Circular No. 01-2013 on the rationalization of fees. As the Secretariat, it extends technical assistance to fee collecting agencies upon request, prepares minutes, status reports and other necessary documents for the Task Force members, and prepares reports, updates and comments on proposed measures involving collection from fees, among others.
3. The NTRC also acts as consultant to both the Technical Committee on Real Property Valuation (TCRPV) and Executive Committee on Real Property Valuation (ECRPV) of Revenue District Offices (RDOs) and Revenue Regional Offices (RROs) of the Bureau of Internal Revenue (BIR). As consultant, it attends meetings and public hearings pertaining to determination/revision of zonal values of various real properties, requests for revaluations; and participates in ocular inspection of subject properties.
4. The NTRC is a member of the Technical Working Committee on the Exchange of Information (TWC-EOI) which reviews, evaluates and provides analysis on issues relating to the Philippines’ compliance to international standards on the exchange of tax information.