Bill Type
Short Title
EXCHANGE OF INFORMATION ON TAX MATTERS ACT OF 2009
Text as Filed (File)
Scope
Legislative Status
Legislative Status Date
Session Sequence No.
38
Session Type
Document Certification
All Information (Senate Website)
Legislative History (Senate Website)
Committee Referral (Senate Website)
Senate Legis Intranet Link
Legislative History
| House Bill/Resolution NO. HB06899 |
| REPUBLIC ACT NO. RA10021 |
| FULL TITLE : AN ACT AMENDING SECTIONS 6(F), 71 AND 270 OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED, ALLOWING THE EXCHANGE OF INFORMATION BY THE BUREAU OF INTERNAL REVENUE ON TAX MATTERS PURSUANT TO THE INTERNATIONALLY AGREED TAX STANDARDS AND FOR OTHER PURPOSES |
| SHORT TITLE : Exchange Of Information On Tax Matters Act Of 2009 |
| ABSTRACT : "Exchange Of Information On Tax Matters Act Of 2009." Seeks to comply with the Internationally Agreed Tax Standards (IATS) for Exchange of Information to effectively carry out the country's commitments under bilateral tax treaties designed to combat tax abuses; strengthen the authority of our tax administration to directly respond to request for tax information from treaty partners, and; provide sanctions for officers of banks and financial institutions for willful refusal to supply information and strict obligation of the requesting foreign tax authority to maintain confidentiality |
| PRINCIPAL AUTHOR/S : NOGRALES, PROSPERO C. |
| DATE FILED : 2009-10-08 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS : |
| 1. Javier |
| COUNTERPART HOUSE BILL/CONCURRENT RESOLUTION: SB03220 |
| ACTIONS TAKEN BY THE COMMITTEE |
| COMMITEE HEARINGS/ACTIONS: |
| 1. Bicameral Conference Report filed on 2009-12-15 |
| COMMITTEE REPORT NO. 02420 |
| SUBMITTED ON 2009-10-08 |
| SUBMITTED BY: WAYS AND MEANS |
| RECOMMENDATIONS: approval |
| SUBSTITUTED BILLS: HB06330 |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON RULES ON 2009-10-09 |
| DATE INCLUDED IN OB: 2009-10-09 |
| DATE CALENDARED : 2009-10-12 |
| SECOND READING INFORMATION |
| DATE APPROVED ON SECOND READING : 2009-10-15 |
| REMARKS : On Oct. 15, 2009, the Body approved to consider the Explanatory Note of the Bill as the sponsorship remarks on the measure; terminated the period of sponsorship and debate; terminated the period of amendments and approved the same on Second Reading. |
| THIRD READING INFORMATION |
| DATE COPY DISTRIBUTED TO MEMBERS: 2009-11-09 |
| DATE APPROVED BY THE HOUSE ON THIRD READING :2009-11-16 |
| HOUSE VOTES: YEAS:167 NAYS:0 ABSTAIN:.0 |
| DATE TRANSMITTED TO THE SENATE: 2009-11-17 |
| ACTIONS TAKEN BY THE SENATE/HOUSE |
| DATE RECEIVED BY THE SENATE: 2009-11-17 |
| CONFERENCE COMMITTEE INFORMATION |
| DATE REQUESTED TO FORM A CONFERENCE COMMITTEE : 2009-12-01 |
| CONFERENCE COMMITTEEE REQUESTED BY : SENATE |
| DATE AGREED TO FORM A CONFERENCE COMMITTEE : 2009-12-07 |
| REMARKS : |
| CONCOM MEMBERS(HOUSE) : Javier, Salvacion, Vinzons-Chato, Lapus, Noel |
| CONCOM MEMBERS(SENATE) : Lacson, Angara, Zubiri, Cayetano (P.) |
| DATE HOUSE RATIFIED CONCOM REPORT : 2009-12-15 |
| DATE SENATE APPROVED CONCOM REPORT : 2009-12-11 |
| ACTIONS TAKEN BY THE PRESIDENT |
| DATE TRANSMITTED TO THE PRESIDENT : 2010-02-08 |
| DATE ACTED UPON BY THE PRESIDENT : 2010-03-05 |
| PRESIDENTIAL ACTION:(A)PPROVED/(V)ETOED/(L)APSED : A |
| REPUBLIC ACT NO.: RA10021 |
| ORIGIN : HOUSE |
| REPUBLIC ACT TITLE: AN ACT TO ALLOW THE EXCHANGE OF INFORMATION BY THE BUREAU OF INTERNAL REVENUE ON TAX MATTERS PURSUANT TO INTERNATIONALLY - AGREED TAX STANDARDS, AMENDING SECTIONS 6(F), 71 AND 270 OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED, AND FOR OTHER PURPOSES |
Abstract
"Exchange Of Information On Tax Matters Act Of 2009." Seeks to comply with the Internationally Agreed Tax Standards (IATS) for Exchange of Information to effectively carry out the country's commitments under bilateral tax treaties designed to combat tax abuses; strengthen the authority of our tax administration to directly respond to request for tax information from treaty partners, and; provide sanctions for officers of banks and financial institutions for willful refusal to supply information and strict obligation of the requesting foreign tax authority to maintain confidentiality
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Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.