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The Commission on Audit (COA), as an independent

constitutional commission has the following powers and


functions
ACCOUNTING MONITORING:COA
With its primary function to examine, audit, and settle all
accounts and expenditures of the Philippine government, COA
has the following responsibilities:

1. Examines, audits, and settles all accounts pertaining to the
revenue and receipts of, and expenditures or uses of funds and
property owned or held in trust by, or pertaining to, the
government;
2. Promulgates accounting and auditing rules and regulations
including those for the prevention and disallowance of
irregular, unnecessary, excessive, extravagant or
unconscionable expenditures, or uses of government funds and
properties;
3. Submits annual reports to the President and the Congress on
the financial condition and operation of the government;



ACCOUNTING MONITORING:COA
4. Recommends measures to improve the efficiency
and effectiveness of government operations;
5. Keeps the general accounts of government and
preserve the vouchers and supporting papers
pertaining thereto;
6. Decides any case brought before it within 60 days;
7. Performs such other duties and functions as may be
provided by law





ACCOUNTING MONITORING:COA
January 2002 COA introduced NGAS (New
Government Accounting System), the supreme audit
authority of the Philippines designed to:

Simplify govt accounting;
Improve monitoring public sector performance
efficiency, and;
Increase transparency of government audits through
civil society involvement.
ACCOUNTING MONITORING:COA
New features of the NGAS:

From cash- to accrual-based accounting;
Introduced modifications to the obligation-accounting
techniques;
Introduced valuation accounting for receivables and
fixed assets;
Full computerization of govt accounting.

ACCOUNTING MONITORING:COA
Procurement

January 2003 GPRA (Government Procurement Reform Act)
was ratified
Permanent changes to the manual procurement system were
put in place;
Mandated govt procurement via electronic means;
Created the GPPB (Govt Procurement Policy Board) which
protects national interest in matters of public procurement,
provides procurement rules and regulations, oversees
implementation of procurement process, recommends
changes to the GPRA (if necessary).
2004 The govt adopted an aggressive and bold agenda that
seeks to bring down the fiscal deficit over the medium term.

FISCAL STRATEGY AND NEW
MEASURES IN THE PHILIPPINES
The plan centers on achieving a balanced budget in
2010 through:

Improved tax administration;
New tax measures;
Privatization and restructuring of GOCCs (specially in
the power sector);
Rationalized bureaucracy;
Improved public dept and expenditure management.
FISCAL STRATEGY AND NEW
MEASURES IN THE PHILIPPINES
Priority areas:

Revival of tax collection
Restoring financial viability of the power sector
FISCAL STRATEGY AND NEW
MEASURES IN THE PHILIPPINES
Proposed tax measures:

2-step VAT increase;
Tax on telecommunications;
Adoption of gross income taxation;
Rationalization of fiscal incentives;
Indexation of sin taxes;
General tax amnesty;
Lateral attrition for tax collection agencies;
Adjustment in excise tax on petroleum products.
FISCAL STRATEGY AND NEW
MEASURES IN THE PHILIPPINES
The sin tax, amended December 2004, increased the
rate of excise tax on alcohol and tobacco products
Excise tax / sin tax taxes on goods that are considered
as vices
Lifted exemption of taxes on imported tobacco and
alcohol products (except for Duty Free products)
FISCAL STRATEGY AND NEW
MEASURES IN THE PHILIPPINES
VAT (Value Added Tax) Law, May 2005
E-VAT (Expanded VAT) lifted exemption from VAT of :
some professionals;
Natural gas;
Coal;
Petroleum products
Increased VAT rate by 2%.


FISCAL STRATEGY AND NEW
MEASURES IN THE PHILIPPINES
Lateral Attrition Law (RA 9395) , 2005 boost tax
administration in BIR and BOC by:

Providing performance incentives
Improving performance evaluation system


The BIR, as provider of 80% of the RPs tax revenue, an
aggressive program was implemented to improve tax
collection
IMPROVEMENTS IN TAX
COLLECTION
The following programs are implemented:

1. RUN AFTER TAX EVADERS (RATE) tax cases are filed
against high profile personalities, at a rate of one (1) case per
week;
2. RUN AFTER THE SMUGGLERS (RATS) tax cases are
filed against high profile smugglers, at a rate of one (1) case
filed seizure of cargo every two (2) weeks;
3. REVENUE INTERGRITY PROTECTION SERVICE (RIPS)
conduct of lifestyle checks against officers & employees of
the BIR and BOC, at a rate of at least one (1) case every two
(2) weeks.

DEBT AND EXPENDITURE
MANAGEMENT
The Government has drafted a fiscal responsibility bill
that proposes a prudent debt and expenditure
management strategy.
This bill will impose a debt cap (as percentage of GDP)
to reduce consolidated non-financial public sector and
NG debt to manageable levels and provide for a three-
year Executive-Legislative Medium-Term Fiscal Accord
which should improve predictability of funding for
priority government programs.
A Debt and Risk Management Office is being
established in the DOF.