AN ACT AMENDING
THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED,
AND FOR OTHER
PURPOSES
TITLE XII
OVERSIGHT
COMMITTEE
SEC.
290. Congressional Oversight Committee. -
A Congressional Oversight
Committee, hereinafter referred to as the Committee, is hereby constituted
in accordance with the provisions of this Code. The Committee shall be
composed of the Chairmen of the Committee on Ways and Means of the Senate
and House Representatives and four (4) additional members from each house,
to be designated by the Speaker of the House of Representatives and the
Senate President, respectively.
The Committee shall,
among others, in aid of legislation:
(1) Monitor and ensure
the proper implementation of Republic Act No. 8240;
(2) Determine that
the power of the Commissioner to compromise and abate is
reasonably exercised;
(3) Review the collection
performance of the Bureau of Internal Revenue; and
(4) Review the implementation
of the programs of the Bureau of Internal Revenue.
In furtherance of the hereinabove
cited objectives, the Committee is empowered to require of the Bureau of
Internal Revenue, submission of all pertinent information, including but
not limited to: industry audits; collection performance data; status report
on criminal actions initiated against persons; and submission of taxpayer
returns: Provided, however, That any return or return information
which can be associated with, or otherwise identify, directly or indirectly,
a particular taxpayer shall be furnished the Committee only when sitting
in Executive Session unless such taxpayer otherwise consents in writing
to such disclosure.
Harvard
Computer Systems, Inc.