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Can PIFITA law be implemented w/o IRR?: Sen. Francis “Tol” Tolentino, during Monday’s hearing of the Committee on Ways and Means, February 12, 2024, asks the Bureau of Internal Revenue if there is a need for implementing rules and regulations (IRR) if the proposed Passive Income and Financial Intermediary Taxation Act (PIFITA) measure will be passed into law. Tolentino said he raised this question as he took note that many laws that were passed by Congress “have been modified, reconfigured (and ) mutated” by the IRR. “There is only one lawmaking body, it is the Congress of the Philippines. Is the BIR ready to implement a law without implementing rules and regulations coming from your part,” the senator asked. Nelsie Arcolas of the BIR said that the agency is given 60 days to come out with the draft IRR. But if it is clearly stated in the approved measure that this will be implemented 15 days after its publication in the Official Gazette or in a newspaper of general circulation without the need for IRR, then it can be implemented, she said. (Bibo Nueva España/Senate PRIB)