National Internal Revenue Code (NIRC)

The National Internal Revenue Code (NIRC) is the set of laws in the Philippines that govern how taxes are collected from individuals and businesses. It defines various types of taxes, such as income, value-added, and property taxes, and outlines the procedures for filing returns, paying taxes, and ensuring compliance. The NIRC aims to provide a fair and efficient system for generating government revenue, supporting public services and development. It is administered by the Bureau of Internal Revenue (BIR), which enforces tax laws and ensures taxpayers fulfill their obligations.