Amendments to the National Internal Revenue Code of 1997

In 1997, the Philippine Government passed into law Republic Act 8424 which was otherwise known as the National Internal Revenue Code of 1997. It was short-titled: “Tax Reform Act of 1997”.

Through the years, several amendments were also made to the Act especially the provisions affecting value-added tax (VAT), excise tax, documentary stamp tax, and income tax.

Hereunder is the summary of the amendments made to RA 8424:

R.A. No.	TITLE	Date of Approval	Date of Effectivity
R.A. 8424	The National Internal Revenue Code of 1997	December 11, 1997	January 1, 1998
R.A. 8761	An Act Imposing The Value-Added Tax on Certain Services Beginning January 1, 2001, Amending for the Purpose Section 5 of R.A. No. 8424 and for Other Purposes.	February 15, 2000	January 1, 2001
R.A. 9010	An Act To Further Defer The Imposition Of The Value-Added Tax On Certain Services, Amending For The Purpose Section 5 of R.A. No. 8424, As Amended by R.A. No. 8761.	February 27, 2001	January 1, 2003
R.A. 9224	An Act Rationalizing the Excise Tax on Automobiles, Amending for the Purpose the National Internal Revenue Code of 1997, and for Other Purposes.	August 29, 2003	October 4, 2003 (published on September 18, 2003)
R.A. 9238	An Act Amending Certain Sections of the National Internal Revenue Code of 1997, as Amended, by Excluding Several Services from the Coverage of the Value-added Tax and Re-imposing the Gross Receipts Tax on Banks and Non-bank Financial Intermediaries Performing Quasi-Banking Functions and Other Non-Bank Financial Intermediaries Beginning January 1, 2004.	Lapsed into law on Feb. 5, 2004 without the signature of the President in accordance with Article VI, Section 27(1) of the Constitution.	January 1, 2004
R.A. 9243	An Act Rationalizing the Provisions on the Documentary Stamp Tax of The National Internal Revenue Code of 1997, as Amended, and for Other Purposes.	February 17, 2004	March 20, 2004
R.A. 9294	An Act Restoring the Tax Exemption of Offshore Banking Units (OBUs) and Foreign Currency Deposit Units (FCDUs), Amending for the Purpose Section 27(D)(3) and Section 28, Paragraphs (A)(4) and (A)(7)(b) of the National Internal Revenue Code, as Amended.	Approved by the President on April 28, 2004	May 21, 2004
R.A. 9334	An Act Increasing the Excise Tax Rates Imposed on Alcohol and Tobacco Products, Amending for the Purpose Sections 131, 141, 142, 143, 144, 145 and 288 of the National Internal Revenue Code of 1997, as Amended.	December 31, 2004	January 1, 2005
R.A. 9337	An Act Amending Sections 27, 28, 34, 106, 107, 108, 109, 110, 111, 112, 113, 114, 116, 117, 119, 121, 148, 151, 236, 237 and 288 of the National Internal Revenue Code of 1997, as Amended, and for Other Purposes.	Approved on May 24, 2005.	Its effectivity clause provides that it shall take effect July 1, 2005 but due to a TRO filed by some taxpayers. The law finally took effect November 1, 2005 when the TRO was finally lifted by the Supreme Court
R.A. 9361	An Act Amending Section 110(B) of the National Internal Revenue Code of 1997, as Amended, and for Other Purposes.	Approved on November 21, 2006	December 13, 2006 (published on November 28, 2006)
R.A. 9504	An Act Amending Sections 22, 24, 34, 35, 51 and 79 of Republic Act No. 8424, As Amended, Otherwise Known as the National Internal Revenue Code of 1997.	Approved on June 17, 2008 and took effect on July 6, 2008.	July 6, 2008
R.A. 10001	Publishing the full text of Republic Act No. 10001 entitled "An Act Reducing Taxes on Life Insurance Policies, Amending for this Sections 123 and 183 of the National Internal Revenue Code of 1997, as Amended."	Approved February 23, 2010
R.A. 10021	An Act to Allow the Exchange of Information By The Bureau of Internal Revenue On Tax Matters Pursuant to Internationally-Agreed Tax Standards, Amending Section 6(F), and 270 Of The National Internal Revenue Code, As Amended and For Other Purposes.	Approved March 8, 2010
R.A. 10026	An Act Granting Income Tax Exemption To Local Water Districts by Amending Section 27 (C) of the National Internal Revenue Code of 1997 As Amended, and Adding Section 289-A To The Code For the Purposes.	Lapsed into law on March 11, 2010 without the signature of the President, in accordance with Article VI, Section 27 (1) of the Constitution.)