Professional Documents
Culture Documents
on the take-home pay of Individuals, prices of goods and services, and spending
and consumption patterns.
It is necessary to know the changes and consequences of the new law to ensure
compliance and avoid tax risks and exposures.
Key Topics include: Organization and functions of the BIR, Income Tax including
Personal Exemptions and Deductions, 15% Preferential Tax, Withholding Tax
Rate, Estate Tax, Donor's Tax, Value Added Tax, Percentage Tax, Excise Tax,
Documentary Stamp Tax and Administrative Requirements/Enforcement
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Topic Outline
A. Organization and functions of the BIR
B. Income Tax
1. Personal Income Tax
2. Personal Exemptions and Deductions
3. 15% Preferential Tax
4. Withholding Tax rate
5. Latest BIR Regulations
C. Estate Tax
1. Allowable Deductions from Gross Estate
2. Funeral, judicial and Medical Expenses
3. Standard Deduction
4. Family Home
5. Estate Tax Rate
6. Administrative Requirements
D. Donor’s Tax
1. Tax Rate
2. Ordinary Donation/Donation to Stranger
3. DST on donation of Real Property
E. Value Added Tax
1. Zero-rated Sales
2. Sale to PEZA
3. Vat Refund
4. Exempt Transactions
5. VAT Threshold
6. Amortization of Input VAT on Depreciable Properties
7. Filing of Return and Payment of Tax
8. Latest BIR Regulations
F. Percentage Tax
1. Threshold
2. Stock Transaction Tax
G. Excise Tax
1. Increased Excise Tax
a. Automobile
b. Petroleum Products
c. Minerals
d. Cigarettes
2. New Taxes/Subjects
a. sweetened Beverages
b. Invasive cosmetic Procedures
3. Latest BIR Regulations
I. Administrative Requirements/Enforcement
1. Official Receipts
2. Audited FS
3. Examination of Taxpayers
4. Interest
5. Filing of Returns