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BUREAU OF INTERNAL REVENUE

1999 REVENUE REGULATION

1999 BUREAU OF INTERNAL REVENUE


REVENUE REGULATION
RR NO.

RR No. 1-99

SUBJECT MATTER
Prescribes the rules and regulations for the effective implementation of the tax
incentives provided for qualified jewelry enterprises under Republic Act No.
8502, otherwise known as the "Jewelry Industry Development Act of 1998"

RR No. 2-99

Establishes the policies and procedures for the availment of immunity from
audit and investigation of Income Tax, VAT and Percentage Tax returns filed for
taxable year 1998 granted under the Economic Recovery Assistance Payment
(ERAP) Program

RR No. 3-99

Amends Revenue Regulations No. 12-98 to streamline and make more efficient
the collection of the creditable withholding tax on income payments from
medical practitioners

RR No. 4-99

Amends the RMO relative to the payment of Capital Gains Tax and
Documentary Stamp Tax on extra-judicial foreclosure sale of capital assets
initiated by banks, finance and insurance companies

RR No. 5-99

Implements Section 34(E) of the Tax Code of 1997 relative to the requirements
for deductibility of bad debts from gross income

RR No. 6-99

Extends the deadline until July 15, 1999 for the availment of immunity from
audit or investigation of Income Tax, VAT and Percentage Tax returns under the
Economic Recovery Assistance Program (ERAP)

RR No. 7-99

Amends further Revenue Regulations No. 7-95 relative to the submission of


the Summary Lists of Sales and Purchases in magnetic form

RR No. 8-99

Provides penalties for violation of the requirement that output tax on sale of
goods and services should not be separately indicated in the sales invoice or
official receipt

RR No. 9-99

Prescribes the filing of information returns (BIR Form 1701C or the new
computerized Form 1703) by non-resident citizens, overseas contract workers
and seamen

RR No. 10-99

Prescribes the procedures for the grant of the permit to use cash registers and
point-of sale machines in lieu of registered sales invoices or receipts

RR No. 11-99

Prescribes the issuance of Taxpayer Identification Number (TIN) to all


taxpayers and qualified applicants and the mandatory incorporation of TIN in
government forms, papers or documents

RR No. 12-99

Implements the provisions of the National Internal Revenue Code of 1997


governing the rules on assessment of national internal revenue taxes, fees
and charges

RR No. 13-99

Prescribes the regulations for the exemption of a citizen or a resident alien


individual from Capital Gains Tax on the sale, exchange or disposition of his
principal residence

RR No. 14-99

Amends RR No. 14-97 relative to the imposition of Excise Taxes on


automobiles and other motor vehicles

RR. No. 15-99

Defines the functions and composition of the Revenue Regional Accreditation


Board and the Revenue National Accreditation Board, as well as provides the
rules for the accreditation/dis-accreditation of tax practitioners

RR No. 16-99

Amends RR No. 1-95 and other related rules and regulations relative to the
grant of tax incentives to enterprises registered in the Subic Special Economic
and Freeport Zone

RR No. 17-99

Prescribes the regulations to implement the 12% increase in the Excise Tax
imposed on distilled spirits, wines, fermented liquors and cigars and cigarettes
packed by machine effective January 1, 2000

RR No. 18-99

Prescribes the regulations relative to the imposition of VAT on services of


banks, non-bank financial intermediaries and finance companies beginning
January 1, 2000

RR No. 19-99

Prescribes the regulations relative to the imposition of VAT beginning January


1, 2000 on the sale of services by persons engaged in the practice of
profession or calling and professional services rendered by general
professional partnerships; services rendered by actors, actresses, talents,
singers and emcees; radio and television broadcasters and choreographers;
musical, radio, movie, television and stage directors; and professional athletes

DATE OF ISSUE

6-Jan-99

9-Feb-99

15-Feb-99

16-Mar-99
16-Mar-99
19-Apr-99

20-Apr-99

11-May-99

24-May-99

August 25,1999

August 30,1999

September 14,1999

September 14,1999
13-Oct-99

17-Nov-99

23-Nov-99

27-Dec-99

29-Dec-99

29-Dec-99