1987 Philippine Constitution

1987 Constitution of the Republic of the Philippines

Preamble

Article I – National Territory

Article II – Declaration of Principles and State Policies

Article III – Bill of Rights

Article IV – Citizenship

Article V – Suffrage

Articles VI – The legislative Department

Article VII – Executive Department

Article VIII – Judicial Department

Article IX – Constitutional Provisions

Article X – Local Government

Article XI – Accountability of Public Officers

Article XII -National Economy and Patrimony

Article XIII – Social Justice and Human Rights

• Labor
• Agrarian and Natural Resources Reform
• Urban Land Reform and Housing
• Health
• Women
• Role and Rights of People’s Organization

Article XIV – Education, Science and Technology, Arts, Culture, and Sports

Article XV – The Family

Article XVI – General Provisions

Article XVII – Amendments or Revisions

Article XVIII – Transitory Provisions

Tax Laws

THE NATIONAL INTERNAL REVENUE CODE OF 1997 – REPUBLIC ACT NO. 8424, AS AMENDED (Last amended by Republic Act No. 11534 – CREATE, March 26, 2021)

TITLE I – ORGANIZATION AND FUNCTION OF THE BUREAU OF INTERNAL REVENUE

• RR No. 3 – 2021: RA 11534 CREATE. CIR Incentives Report to DOF IRR

TITLE II – TAX ON INCOME

• CHAPTER I – Definitions
• CHAPTER II – General Principles
• CHAPTER III – Tax on Individuals
  • RR No. 8-2018 – TRAIN IRR on Income Tax from BIR
• CHAPTER IV – Tax on Corporations
  • RR No. 5-2021 – RA 11534 CREATE Income Tax IRR
  • RR No. 2 – 2021 – RA 11534 CREATE. Passive Income IRR
  • RR No. 9-1998 – Minimum Corporate Income Tax (MCIT) Rules
  • RR No. 2-2001 – Improperly Accumulated Earnings Tax (IAET)
• CHAPTER V – Computation of Taxable Income
• CHAPTER VI – Computation of Gross Income
  • RR No. 3-1998 – Fringe Benefits Tax Implementing Rules
• CHAPTER VII – Allowable Deductions
  • RR No. 16-2008 – Optional Standard Deduction (OSD) rules
  • RR No. 13-1998 – Charitable contributions regulations
  • RR No. 5-1999 – Bad debts deduction rules
  • RR No. 13-2000 – Interest Expense deduction rules
  • RR No. 14-2001 – Net Operating Loss Carry Over (NOLCO) rules
  • RR No. 10-2002 – Entertainment, Amusement, & Recreation rules
• CHAPTER VIII – Accounting Periods and Methods of Accounting
  • RR No. 2-2013 – Transfer Pricing Guidelines
  • RR No. 19-2020 – BIR Form 1709 on Related Party Transactions
• CHAPTER IX – Returns and Payment of Tax
  • RR No. 11-2018 – Withholding Tax IRR under TRAIN from BIR
  • RR No. 6-2018 – Deductibility of expenses without withholding (amends RR 14-2002, as amended by RR 17-2003)
• CHAPTER X – Estates and Trusts
• CHAPTER XI – Other Income Tax Requirements
• CHAPTER XII – Quarterly Corporate Income Tax/ Annual Declaration and Quarterly Payments of Income Taxes
• CHAPTER XIII – Withholding on Wages

TITLE III – ESTATE AND DONOR’S TAXES

• CHAPTER I – Estate Tax
• CHAPTER II – Donor’s Tax
  • Related BIR Issuance/s:
  • RR No. 12-2018 – Estate and Donor’s Tax Regulations from BIR

TITLE IV – VALUE ADDED TAX

• CHAPTER I – Imposition of Tax
• CHAPTER II – Compliance Requirements
  • Related BIR Issuance/s
  • RR No. 16-2005, as amended (RR No. 13-2018)
  • RR No. 13-2018 – Partly implementing TRAIN exemptions from BIR
  • RR No. 4 – 2021: RA 11534 CREATE. VAT and Percentage Tax IRR

TITLE V – OTHER PERCENTAGE TAXES

• Related BIR Issuance/s
  • RR No. 9-2018 – Stock Transaction Tax under TRAIN from BIR

TITLE VI – EXCISE TAXES ON CERTAIN GOODS AND SERVICES

• CHAPTER I – General Provisions
• CHAPTER II – Exemption or Conditional Tax-Free Removal of Certain Articles
• CHAPTER III – Excise Tax on Alcohol Products
• CHAPTER IV – Excise Tax on Tobacco Products
  • RR No. 3-2018 – TRAIN IRR on Tobacco Products from BIR
• CHAPTER V – Excise Tax on Petroleum Products
  • RR No. 2-2018 – TRAIN IRR on Petroleum Products from BIR
• CHAPTER VI – Excise Tax on Miscellaneous Articles
  • RR No. 5-2018 – Amending RR No. 25-2003 on automobile excise tax from BIR
  • RR No. 20-2018 – TRAIN IRR on Sugary Beverages from BIR
  • RR No. 1-2020 – TRAIN IRR on Non-essential Services from BIR
• CHAPTER VII – Excise Tax on Mineral Products
  • RR No. 1-2018 – TRAIN IRR on Mineral Products from BIR
• CHAPTER VIII – Administrative Provisions Regulating Business of Persons Dealing in Articles Subject to Excise Tax

TITLE VII – DOCUMENTARY STAMP TAX

• Related BIR Issuance/s
  • Revenue Regulations No. 4-2018 – TRAIN DST IRR from BIR

TITLE VIII – REMEDIES

• CHAPTER I – Remedies in General
• CHAPTER II – Civil Remedies for Collection of Taxes
• CHAPTER III – Protesting an Assessment, Refund, etc.
  • Related BIR Issuance/s
  • RR No. 12-99, as amended by RR 18-2013 & RR 7-2018

TITLE IX – COMPLIANCE REQUIREMENTS

• CHAPTER I – Keeping of Books of Accounts and Records
• CHAPTER II – Administrative Provisions
• CHAPTER III – Rules and Regulations

TITLE X – STATUTORY OFFENSES AND PENALTIES

• CHAPTER I – Additions to the Tax
  • RR No. 21-2018 – Deficiency interest under TRAIN from BIR
• CHAPTER II – Crimes, Other Offenses and Forfeitures
• CHAPTER III – Penalties Imposed on Public Officers
• CHAPTER IV – Other Penal Provisions

TITLE XI – ALLOTMENT OF INTERNAL REVENUE

• CHAPTER I – Disposition and Allotment of National Internal Revenue in General
• CHAPTER II – Special Disposition of Certain National Internal Revenue Taxes

TITLE XII – OVERSIGHT COMMITTEE

TITLE XIII – TAX INCENTIVES

• CHAPTER I – General Provisions on Tax Incentives
• CHAPTER II – Tax and Duty Incentives
• CHAPTER III – The Fiscal Incentives Review Board
• CHAPTER IV – Qualified Projects or Activities for Tax Incentives
• CHAPTER V – Tax Incentives Management and Transparency
• CHAPTER VI – Transitory and Miscellaneous Provisions

TITLE XIV – REPEALING PROVISIONS

TITLE XV – FINAL PROVISIONS

Effective: January 1, 1998.

Corporation Code & Rules

Republic Act No. 11232 – Revised Corporation Code of the Philippines

AN ACT PROVIDING FOR THE “REVISED CORPORATION CODE OF THE PHILIPPINES”

TITLE I – GENERAL PROVISIONS/ DEFINITIONS AND CLASSIFICATIONS (Sections 1-9)

TITLE II – INCORPORATION AND ORGANIZATION OF PRIVATE CORPORATIONS (Sections 10-21)

Related SEC Memorandum Circulars:

• SEC MC No. 22-2020 – Guidelines on Corporate Term
• SEC MC No. 16 series 2020 – Authentication of SEC Registration Documents
• SEC MC No. 13 series 2019 – Amended Guidelines and Procedures on Use of Corporate and Partnership Names
• SEC MC No. 16 series 2019 – Guidelines on the Number and Qualifications of Incorporators under RCC
• SEC MC No. 23 series 2019 – Guidelines on the Revival of Expired Corporations

TITLE III – BOARD OF DIRECTORS/ TRUSTEES AND OFFICERS (Sections 22-34)

TITLE IV – POWERS OF CORPORATIONS (Sections 35-44)

Related SEC Memorandum Circulars:

• SEC MC No. 12 series 2020 – Shareholder’s Approval on Sale of Corporate Assets

TITLE V – BY-LAWS (Sections 45-47)

TITLE VI – MEETINGS (Sections 48-58)

Related SEC Memorandum Circulars:

• SEC MS No. 14 series 2020 – Stockholder’s Right on agenda items for stockholders meetings
• SEC MC No. 3 series 2020 – Notice of Regular Meetings of Stockholders/Members
• SEC MC No. 6 series 2020 – Guidelines on Meetings through Teleconferencing, Video Conferencing and other Remote Electronic Means of Communication

TITLE VII – STOCKS AND STOCKHOLDERS (Sections 59-72)

TITLE VIII – CORPORATE BOOKS AND RECORDS (Sections 73-74)

TITLE IX – MERGER AND CONSOLIDATION (Sections 75-79)

TITLE X – APPRAISAL RIGHT (Sections 80-85)

TITLE XI – NON-STOCK CORPORATION (Sections 86-94)

• CHAPTER I – MEMBERS (Sections 88-90)
• CHAPTER II – TRUSTEES AND OFFICERS (Sections 91-92)
• CHAPTER III – DISTRIBUTION OF ASSETS IN NON-STOCK CORPORATIONS (Sections 93-94)

TITLE XII – CLOSE CORPORATIONS (Sections 95-104)

TITLE XIII – SPECIAL CORPORATIONS (Sections 105-132)

• CHAPTER I – EDUCATIONAL CORPORATIONS (Sections 105-106)
• CHAPTER II – RELIGIOUS CORPORATIONS (Sections 107-114)
• CHAPTER III – ONE PERSON CORPORATIONS (Sections 115-132)           

Related SEC Memorandum Circulars:

• SEC MC No. 07 series 2020 – Guidelines on the Establishment of OPC
• SEC MC No. 27-2020 – SEC OPC Conversion rules

TITLE XIV – DISSOLUTION (Sections 133-139)

TITLE XV – FOREIGN CORPORATIONS (Sections 140-153)       

Related SEC Memorandum Circulars:

• SEC MC No. 17 series 2019 – Revised Guidelines on Security Deposit of Branch Offices of Foreign Corporations

TITLE XVI – INVESTIGATIONS, OFFENSES, AND PENALTIES (Sections 154-172)

TITLE XVII – MISCELLANEOUS PROVISIONS (Sections 173-188)

Approved: February 20, 2019. Effective: February 23, 2019

Auditing Standards

Work in progress, please come back soon. Please send us mail at info(@)taxacctgcenter.ph for related concerns. Thank you for your patience.

Immigration Rules

• Commonwealth Act No. 613 – The Philippine Immigration Act of 1940
• Republic Act 562 – Alien Registration Act of 1950
• BIR RMO No. 28-2019 – Policies and Guidelines on the Registration Requirements of Foreign Nationals
• BI Operations Order No. JHM-2019-008 – Implementing Rules on Special Work Permit and Provisional Work Permit