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 Chairpersons [232] of the Committee on Ways and Means of the Senate and House of 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;
(4) Review the implementation of the programs of the Bureau of Internal Revenue; and
(5) Review the performance of the Fiscal Incentives Review Board. [233]
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.
SEC. 290-A. Joint Congressional Oversight Committee on Illicit Trade on Excisable Products. - A Joint Congressional Oversight Committee, herein referred to as the Oversight Committee on illicit trade on excisable products, shall be constituted. The Oversight Committee on Illicit Trade on Excisable Products shall be composed of the respective Chairpersons of the Committees on Ways and Means of the Senate and the House of Representatives as co chairpersons and six (6) additional members from each house to be designated respectively by the Senate President and the Speaker of the House of Representatives.
The Oversight Committee on Illicit Trade on Excisable Products shall, in aid of legislation, perform the following duties and functions, among others:
(1) Review and evaluate the programs and performance of the Bureau of Internal Revenue and the Bureau of Customs in addressing illicit trade on excisable products and recommend necessary remedial legislation;
(2) Require concerned government agencies to submit reports and all pertinent data and information which will aid in resolving illicit trade of excisable products;
(3) Hold public hearings and summon concerned private individuals, government personnel and officials as resource persons;
(4) Deputize the Bureau of Internal Revenue, Bureau of Customs, the Philippine National Police, the National Bureau of Investigation and other enforcement agencies of the government as may be necessary in undertaking its duties and functions; and
(5) Perform such other duties and functions as may be necessary to perform its mandate.
The Joint Congressional Oversight Committee shall be assisted by a Secretariat composed of even number of monitors from both Houses. It shall be co-headed by the service directors of the Committees on Ways and Means of the Senate and the House of Representatives.
