Contents of Tax Chief's Annual Report. - R.A. 8424

DETAILED COLLECTION REPORT. The Annual Report of the Commissioner shall contain detailed statements of the collections of the Bureau with specifications of the sources of revenue by type of tax, by manner of payment, by revenue region and by industry group and its disbursements by classes of expenditures.

COLLECTION EXCESS OR SHORTFALL. In case the actual collection exceeds or falls short of target as set in the annual national budget by fifteen percent (15%) or more, the Commissioner shall explain the reason for such excess or shortfall. (Section 19 of Tax Reform Act of 1997; R.A. 8424)

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