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J TAXATION LAW REVIEW i i By i ATTY. FRANCIS J. SABABAN National Pre-Bar Reviewer, Taxation 2008 EDITION Philippine Copyright, 2008 | tO ise ICIS J. SABABAN, ISBN 978-971-23-5227-0 No portion of this book may be copied or reproduced in books, pamphlets, outlines or notes, whether printed, mimeographed, typewritten, copied in different electronic devices or in any other formn, for distribution orsale, without the written permission of cither of the anthors except brief passages in books, articles, reviews, legal papers, and judicial or other official proceedings with proper citation. Any copy of this book without the correspond ing number and the signature of either of the authors on this page either proceeds from an illegitimate source or is in possession of one who has no authority to dispose of the same, ALL RIGHTS RESERVED BY THE AUTHORS No 3409 Reprinted: April 2010 ISBN 978-971-23-5227-0 | | vu | | O5-RV.00040 9 "7897121352270! Printed by REX PRINTING Ct ys INC. earsrta or PREFACE ‘Taxation is one of the most, if not the most, difficult subject in the study of law and in the Bar. It may be considered as a spe- cial field in that only a few may be welcomed. In this regard, I welcome all of those who wish to under- stand and comprehend this “misunderstood” subject. The book aims to address the concerns of those who find difficulty in understanding Taxation Law. This is especially de- signed to make the subject appealable and easy to comprehend. The discussions are made on a per topic basis since itis the best way to understand the subject. Mustrations and Bar exam ques- tions are also included for the better understanding of the read- ers, EJ. Sababan