Professional Documents
Culture Documents
2. Revenue Regulations
- These are interpretations of an administrative body (BIR)
intended to clarify or explain the tax laws and carry into effect
its general provisions by providing details of administration and
procedure.
- It is promulgated (made) by the Secretary of Finance, upon the
recommendation of the Commissioner of Internal Revenue
(quasi-legislative function).
- It must be reasonable, within the authority conferred, not
contrary to laws, must be published and prospective in
application.
3. BIR Rulings
- The BIR issues a general interpretation of tax laws usually upon
a requrest of a taxpayer to clarify a provision of law.