Amendments (1997-2010) to the National Internal Revenue Code of 1997 (R.A. 8424 ) 1. R.A.

9238- An Act Amending Certain Sections of the National Internal Revenue Code of 1997, as Amended, by Excluding Several Services from the Coverage of the Value-added Tax and Re-imposing the Gross Receipts Tax on Ban s and Non-ban Fi nancial Intermediaries Performing Quasi-Ban ing Functions and Other Non-Ban Fin ancial Intermediaries Beginning January 1, 2004. (Lapsed into law on Feb. 5, 200 4 without the signature of the President in accordance with Article VI, Section 27(1) of the Constitution. )effectivity date-January 1, 2004; 2. R.A. 9294 - An Act Restoring the Tax Exemption of Offshore Ban ing Units (OBU s) and Foreign Currency Deposit Units (FCDUs), Amending for the Purpose Section 27(D)(3) and Section 28, Paragraphs (A)(4) and (A)(7)(b) of the National Interna l Revenue Code, as Amended. (Approved by the President on April 28, 2004) effect ivity date - May 21, 2004; 3. R.A. 9334 - An Act Increasing the Excise Tax Rates Imposed on Alcohol and Tob acco Products, Amending for the Purpose Sections 131, 141, 142, 143, 144, 145 an d 288 of the National Internal Revenue Code of 1997, as Amended. effectivity dat e January 1, 2005; 4. R.A. 9337 - An Act Amending Sections 27, 28, 34, 106, 107, 108, 109, 110, 111 , 112, 113, 114, 116, 117, 119, 121, 148, 151, 236, 237 and 288 of the National Internal Revenue Code of 1997, as Amended, and for Other Purposes (Its effectivi ty clause provides that it shall ta e effect July 1, 2005 but due to a TRO filed by some taxpayers. The law finally too effect November 1, 2005 when the TRO wa s finally lifted by the Supreme Court); 5. R.A. 9361 - An Act Amending Section 110(B) of the National Internal Revenue C ode of 1997, as Amended, and for Other Purposes. Effectivity date: December 13, 2006 (published on November 28, 2006); 6. R.A. 9504 - An Act Amending Sections 22, 24, 34, 35, 51 and 79 of Republic Ac t No. 8424, As Amended, Otherwise Known as the National Internal Revenue Code of 1997. (Approved on June 17, 2008 and too effect on July 6, 2008.); 7. R.A. 10001 - Publishing the full text of Republic Act No. 10001 entitled "An Act Reducing Taxes on Life Insurance Policies, Amending for this Sections 123 an d 183 of the National Internal Revenue Code of 1997, as Amended." (Approved Febr uary 23, 2010); 8. R.A. 10021 - An Act to Allow the Exchange of Information By The Bureau of Int ernal Revenue On Tax Matters Pursuant to Internationally-Agreed Tax Standards, A mending Section 6(F), and 270 Of The National Internal Revenue Code, As Amended and For Other Purposes. (Approved March 8, 2010); 9.R.A. 10026 - An Act Granting Income Tax Exemption To Local Water Districts by Amending Section 27 (C) of the National Internal Revenue Code of 1997 As Amended , and Adding Section 289-A To The Code For the Purposes (Lapsed into law on Marc h 11, 2010 without the signature of the President, in accordance with Article VI , Section 27 (1) of the Constitution..