3 December 2013
The Commissioner of Internal Revenue (“CIR”) has issued Revenue Memorandum Circular (“RMC”) No. 72-2013 dated 25 November 2013 to formalize the establishment of the Fiscal Intelligence Unit (FIU) to pursue the goal of the administration to protect revenue, uproot corruption, eliminate tax evasion and smuggling, and to increase the GDP.
The FIU is in-charge of the following functions:
The Secretary of Finance shall directly supervise and control the FIU.
This Order shall take effect immediately.