Bill Type
Congress Name
Long Title
AN ACT AMENDING THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED, AND FOR OTHER PURPOSES (ctrp III).
Date filed
March 7, 1997
Urgent Bill
No
Administration Bill
No
Legislative History
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS : | |
| 1. Javier | 2. Espina |
| 3. Acosta | 4. Joaquin |
| 5. Golez | 6. Aumentado |
| 7. Romero | 8. De Venecia |
| 9. Liban | 10. Roxas |
| 11. Belmonte | 12. Del Mar |
| 13. Villarosa | 14. Ablan |
| 15. Gillego | 16. Braganza |
| 17. Lopez | 18. Antonio |
| 19. Angara-castillo | 20. Ramirez |
| 21. Candazo | 22. Defensor |
| 23. Dragon | 24. Romualdo |
| 25. Escudero | 26. Duavit |
| 27. Aquino | 28. Lazatin |
| 29. Montemayor | 30. Monfort |
| 31. Avila | 32. Del Rosario |
| 33. Tilanduca | 34. Dejon |
| 35. Teves | 36. Cosalan |
| 37. San Buenaventura | 38. Bagatsing |
| 39. Gonzales | 40. Calalay |
| 41. Recto | 42. Quimpo |
| 43. Bagatsing | 44. Lagman |
| 45. Salalima | 46. Palacol |
| 47. Rodriguez | 48. Gonzalez |
| 49. Pimentel | 50. Leviste |
| 51. Sator | 52. Ledesma |
| 53. Mangotara | 54. Reyes |
| 55. Chipeco | 56. Almario |
| 57. Ramiro | 58. Madrona |
| 59. Ty | 60. Tajon |
| 61. Rama | 62. Nograles |
| 63. Garcia | 64. Punzalan |
| 65. Palma Gil | 66. Ocampo |
| 67. Adiong | 68. Seachon |
| 69. Claudio | 70. Paredes |
| 71. Guanzon | 72. Falcon |
| 73. Cruz-ducut | 74. Abaya |
| 75. Mercado | 76. Sandoval |
| 77. Lacson | 78. Lobregat |
| 79. Barbers | 80. Ruiz |
| 81. Cuenco | 82. Serapio |
| 83. Respicio | 84. Valdez |
| 85. Villareal | 86. Payumo |
| 87. Lopez | 88. Jalosjos |
| 89. Villar | 90. Vergara |
| 91. Verceles | 92. Figueroa |
| 93. Paras | 94. Durano |
| 95. Singson | 96. Andolana |
| 97. Bondoc | 98. Tinga |
| 99. Cabilao | 100. Silverio |
| 101. Zubiri | 102. Veloso |
| 103. Tuazon | 104. Chaves |
| 105. Aquino | 106. Borja-agana |
| 107. Fajardo | 108. Fua |
| 109. Cezar | 110. Locsin |
| 111. Sarmiento | 112. Muarip |
| 113. Abad | 114. Cerilles |
| 115. Arroyo | 116. Abaya |
| 117. Asistio | 118. Dequiña |
| 119. Perez | 120. Fuentebella |
| 121. Garcia | 122. Alfelor |
| 123. Fajardo | |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE | |
| COMMITTEE REPORT NO. 00817 | |
| SUBMITTED ON 1997-03-07 | |
| SUBMITTED BY: WAYS AND MEANS | |
| RECOMMENDATIONS: approval | |
| SUBSTITUTED BILLS: HB00071, HB00076, HB00146, HB00208, HB00267, HB00442, HB00642, HB01002, HB01045, HB01087, HB01163, HB01170, HB01229, HB01400, HB01479, HB01584, HB01595, HB02625, HB02852, HB03077, HB03083, HB03743, HB03805, HB03907, HB04258, HB04290, HB05273, HB05307, HB05660, HB05722, HB05881, HB05953, HB06060, HB06616, HB06834, HB06844, HB06845, HB06869, HB07020, HB07320, HB07681, HB07728, HB07859, HR00699 | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON RULES ON 1997-03-10 | |
| DATE INCLUDED IN OB: 1997-03-10 | |
| DATE CALENDARED : 1997-03-12 | |
| SECOND READING INFORMATION | |
| PERIOD OF SPONSORSHIP : 1997-03-17 | |
| SPONSORED BY : Javier;Diaz;Figueroa;Del Mar;Golez | |
| PERIOD OF INTERPELLATIONS : 1997-03-18, 3096-03-19, 3096-04-22 | |
| PERIOD OF INDIVIDUAL AMENDMENTS : 1997-04-30 | |
| DATE APPROVED ON SECOND READING : 1997-04-30 | |
| REMARKS : The body approved to insert into the recrods the Sponsorship Speech of Congressman Aumentado on Mar 19, 1997 | |
| THIRD READING INFORMATION | |
| DATE COPY DISTRIBUTED TO MEMBERS: 1997-05-05 | |
| DATE APPROVED BY THE HOUSE ON THIRD READING :1997-05-08 | |
| HOUSE VOTES: YEAS:156 NAYS:1 ABSTAIN:.0 | |
| DATE TRANSMITTED TO THE SENATE: 1997-05-08 | |
| ACTIONS TAKEN BY THE SENATE/HOUSE | |
| DATE RECEIVED BY THE SENATE: 1997-05-09 | |
| PASSED WITH AMENDMENTS(Y/N)? : Y | |
| CONFERENCE COMMITTEE INFORMATION | |
| DATE REQUESTED TO FORM A CONFERENCE COMMITTEE : 1997-09-01 | |
| CONFERENCE COMMITTEEE REQUESTED BY : HOUSE | |
| DATE AGREED TO FORM A CONFERENCE COMMITTEE : 1997-09-02 | |
| REMARKS : on Dec. 02, 1997, the Body approved the Conference Committee Report of HB09077 but was reconsidered on the same day. | |
| CONCOM MEMBERS(HOUSE) : Javier, Del Mar, Singson | |
| CONCOM MEMBERS(SENATE) : , , Osmeña | |
| PERIOD OF CONFERENCE COMMITTEE SPONSORSHIP : 1997-12-03 | |
| SPONSORED BY : Javier | |
| DATE HOUSE RATIFIED CONCOM REPORT : 1997-12-08 | |
| DATE SENATE APPROVED CONCOM REPORT : 1997-12-08 | |
| ACTIONS TAKEN BY THE PRESIDENT | |
| DATE ACTED UPON BY THE PRESIDENT : 1997-12-11 | |
| PRESIDENTIAL ACTION:(A)PPROVED/(V)ETOED/(L)APSED : A | |
| REPUBLIC ACT NO.: RA08424 | |
| REPUBLIC ACT TITLE: AN ACT AMENDING THE NATIONAL INTERNAL REVENUE CODE , AS AMENDED, AND FOR OTHER PURPOSE |
Abstract
Rationale: The present SCHEDULAR SYSTEM of taxation embodied in the National Internal Revenue Code which taxes different types of income at DIFFERENT RATES is hardly in keeping with the constitutional mandate of "uniform", "equitable" and "progressive" taxation. >This disparity has resulted in a regressive income tax system where the burden of carrying the cost of government is NOT distributed fairly by income classes. Those who have been paying more and those who have more, pay LESS in sharing the cost of government --- "hard-earned income is taxed at rates higher than idle or passive income." "TAX REFORM ACT OF 1997" Proposes, therefore, the following structural reforms --- (1) SHIFT from a [schedular] to a GLOBAL system of taxation; The shift will ensure that the burden of taxation is DISTRIBUTED in accordance with ABILITY TO PAY; (2) The pooling of income from all sources and then taxed, using a UNITARY RATE ranging from 5-30% for individuals, and 35% for corporations; (3) DEDU