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(UP) Taxation 2 Syllabus 2012-1013

(UP) Taxation 2 Syllabus 2012-1013

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Published by: Eins Balagtas on Nov 15, 2012
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University of the PhilippinesCollege of LawTaxation 2, Fridays 3 p.m. to 6 p.m. (Prof. Carina C. Laforteza)Second Semester SY 2012-2013ESTATE TAX
(Sec. 84-97, Sec. 104, NIRC, Revenue Regulations No. 17-93, Estate Tax Regulations, asamended by RR 2-2003 dated December 16, 2002)Lorenzo v. Posadas, G.R. No. 43082, June 18, 1937
GROSS ESTATE
– Rule for Imposition1. Resident, non-resident alien2. Reciprocity of exemption (Collector v. Fisher, 1 SCRA 93)3. Valuation of gross estatea. Decedent’s interestb.
 
Transfers in contemplation of deathc.
 
Revocable transfersd.
 
Property passing under general appointmente.
 
Proceeds of life insurancef.
 
Prior interestg.
 
Transfer for insufficient consideration4.
 
Exclusion from gross estate: capital of surviving spouse5.
 
Deduction from gross estate1.
 
Funeral expenses2.
 
Judicial expensesc. Claims v. the estated. Claims v. insolvent personse. Unpaid mortgages and lossesf. Property previously taxed vanishing deduction
 
 2
g. Transfer for public purposeh. Family housei. Share in the conjugal property j. Standard deduction6. Tax credit for estate taxes7. Exemption of certain acquisitions8. Tax returnsi. Time to file and noticeii. Payment of tax9. Obligations of executor, administrator, officers, others
DONOR’S TAX
(Sec. 98-103)1. Imposition of gift tax2. Transfer of inadequate consideration3. Exemption from gift tax4. Tax credit5. Tax return (time and filing and payment)6. Political contributions: tax treatmentAbello v. CIR, GR No. 120721, February 23, 2005
VALUE-ADDED TAX
1. Sec. 105-115, NIRC as amended by RA 8424 & RA 9238, February 5, 2004 andRA 9337 effective July 1, 2005, implemented by RR 16-2005 (November 1,2005) & RR No. 4-2007 (February 7, 2007)2. Rev. Regs. 2-88, Rev. Memo Order No. 22-923.
 
Rev. Regs. 7-954.
 
RMO 39-95
 
 3
 5.
 
RMC 1-96 up to 7-966.
 
Philamlife, CA GR SP 31283, April 25, 1995 (definition of royalty)7.
 
Are reimbursements subject to VAT?CIR v Court of Appeals, et al., G.R. No. 125355, March 30, 2000See also RMC 9-2006, January 25, 2006; clarifying amount subject to VAT of brokers; RMC No. 39-2007, January 22, 20078.
 
Opinion 40. April 22, 1996 – effectivity of VAT on other taxpayers9.
 
Improved VAT (IVAT) – RA 8241, December 20, 1996 (effectivity date –January 1, 1997) (Rev. Regs. 6-97, January 2, 1997)10.
 
RR 8-99, April 26, 1999 – penalties for indicating separately VAT in salesinvoice or O.R. on sale of goods or services12. RR 1-2005, December 28, 2004 amends RR 7-95 & RR 8-2002 re: VATexemption on real estate sales and rentals13. RR 13-9714. RR 7-99 submission of diskettes for summary list of sales and purchases withinthe following month at the close of each calendar quarter15. RMC 74-99, October 15, 1999 tax treatment of sales of goods and servicesmade by suppliers from western territory to a PEZA registered enterprise and saletransactions made by PEZA registered enterprises within and without the zone.(Destination or Cross Border Principle first adopted November 5, 1998, BIRruling 032-98, Shimizu Philippines)16. American Express v. Commissioner, CA GR SP 62727, February 28, 2002 (zerorated sale of service), SC GR 152609, June 28, 200517. CIR v. Burmeister and Wain, GR No. 153205, January 22, 200718. CIR v. Magsaysay Lines, GR No. 146984, July 28, 2006 (No VAT on sale notmade in trade or business)19. Rev. Regs 6-2001, July 31, 2001 (payment of VAT within 10 days after end of the month), as amended by RR 8-2002 (filing of VAT returns, June 13, 2002)20. RR 17-2003, VAT on refined sugar as amended by RR 2-2004 (March 1, 2004)and RR 16-2005 and amended by RR 13-2008 (September 14, 2008)21. RA No. 9361 (December 13, 2006) Repeal of 70% input VAT Cap asimplemented by RR No. 2-2007 (December 29, 2006)

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