Bill Type
Congress Name
Full Title of Bill
AN ACT DEFINING THE CRIME OF TAX RACKETEERING, ADDING FOR THE PURPOSE A SECTION 157-A TO THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED, AND FOR OTHER PURPOSES
Text as filed (link)
Date filed
March 16, 2023
Date Read
March 21, 2023
Bill Status
Substituted by HB08144
Mother Bill Status
Approved by the House on 2023-05-29, transmitted to the Senate on 2023-05-30 and received by the Senate on 2023-05-30
Committee Details
Primary Committee
Legislative History
| House Bill/Resolution NO. HB07653 |
| FULL TITLE : AN ACT DEFINING THE CRIME OF TAX RACKETEERING, ADDING FOR THE PURPOSE A SECTION 157-A TO THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED, AND FOR OTHER PURPOSES |
| ABSTRACT : Aims to address the issue regarding the evasion of taxes by corporations using fictitious sales invoices or receipts involving false and anomalous purchases - called "ghost receipts" or the practice of "ghosting the tax authority."Proposes to define the offense of tax racketeering as "any coordinated scheme or operation to repeatedly or consistently evade or defeat any tax imposed under the National Internal Revenue Code through fraudulent use of receipts, returns, and other records, with minimum amount of Ten Million (P10,000,000.00) in taxes avoided or attempted to be avoided". |
| PRINCIPAL AUTHOR/S : SALCEDA, JOEY SARTE |
| DATE FILED : 2023-03-16 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE |
| MOTHER BILL: HB08144 |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2023-03-21 |
Abstract
ABSTRACT : Aims to address the issue regarding the evasion of taxes by corporations using fictitious sales invoices or receipts involving false and anomalous purchases - called "ghost receipts" or the practice of "ghosting the tax authority."Proposes to define the offense of tax racketeering as "any coordinated scheme or operation to repeatedly or consistently evade or defeat any tax imposed under the National Internal Revenue Code through fraudulent use of receipts, returns, and other records, with minimum amount of Ten Million (P10,000,000.00) in taxes avoided or attempted to be avoided".
Significance