SECTION 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 Chairpersons 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 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
(4) Review the implementation of the programs of the Bureau of Internal Revenue; and
(5) Review the performance of the fiscal incentives review board. (As amended by RA 11534, March 26, 2021)
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 the 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.
(Manual encoding credits: Magdaleno Abdon, Sept. 2020)
Revenue Regulations No. 001-2025
Revenue Regulations No. 18- 2024
REPUBLIC ACT NO. 12066 – CREATE MORE ACT
Revenue Memorandum Circular No. 116-2024
Revenue Memorandum Circular No. 115-2024
Revenue Memorandum Circular No. 113-2024
8 Features of Republic Act No. 12023 – VAT on Digital Services Law Philippines
Live Webinar on Ph Payroll Computations and Taxation
Live Webinar: Winning BIR Tax Assessments Series: Process, Remedies & Writing Effective Protest
Live Webinar: Value Added Tax: In and Out
Live Webinar on 2024 Financial Statements Preparation Reminders
Live Webinar 2024 ITR (1702 MX) Filing Reminders for PEZA-Registered Entities
Live Webinar on 2024 ITR (1702 RT) Filing Reminders for Taxable Corporations
Live Webinar: Withholding Taxes, Subjects & Applications
Onsite Seminar: BIR Examination: Their Procedures and Our Defenses
Onsite Training: How to analyze Financial Statements Accounting for Correct Business Decision Making?
Onsite Seminar: Basic Business Accounting & BIR Compliance VAT Entity
Δ
Phone : (02) 5310-2239
Mobile : Smart: 0939-916-2952 Globe: 0967-497-4989
Email : info(@)taxacctgcenter.ph
© Tax and Accounting Center 2025. All Rights Reserved