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Tax Review Syllabus A.Y. 2019-2020 PDF
Tax Review Syllabus A.Y. 2019-2020 PDF
TAXATION
Syllabus, A.Y. 2019-2020
HOUSE RULES
1. Students are expected to be prepared when they come to class. At the start of each session, a
one(1)-item essay quiz will be given. The weighted average of all quizzes will comprise twenty
percent (20%) of their class standing for each half of the semester.
2. Make-up short quizzes will not be given to students regardless of their excuses. ICPAs, ICMA, or
ICFA shall only be given to students who are able to present proof of their valid absence (i.e. medical
certificate in case of illness, a letter approved by an authorized school official for attendance in extra-curricular
or co-curricular activities, etc.)
3. Questions are very much welcome during class.
I. PRINCIPLES OF TAXATION
F. DOUBLE TAXATION
A. ESTATE TAX
a. Gross estate
b. Deductions allowed to estate
c. Tax credit
d. Venue and time of filing of tax returns
e. Venue and time of payment
f. Modes of payment
g. Use of tax tables (Note: Tax tables may no longer be applicable under R.A. No. 10963 or
the TRAIN Law)
h. Procedures (i.e. accomplishing tax returns and forms, attachments to the tax return,
administrative requirements.)
B. DONOR’S TAX
a. Gross gift
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b. Exemptions
c. Tax rates in general and when the donee is a stranger
d. Procedures (i.e. venue and time of filing of tax returns, venue and time of payment, modes
of payment, use of tax tables, accomplishing of tax returns and forms, attachments to the tax
return, administrative requirements)
A. OUTPUT VAT
B. INPUT VAT
C. VAT CREDITS
E. PROCEDURE (i.e. venue and time of filing of tax returns, venue and time of payment, modes of
payment, accomplishing of tax returns and forms, attachments to the tax return, invoicing and
accounting requirements)
F. PROCEDURE (i.e. venue and time of filing of tax returns, venue and time of payment, modes of
payment, use of tax rates, accomplishing of tax returns and forms)
V. EXCISE TAX
A. DEFINITION
C. PROCEDURE (i.e. venue and time of filing of tax returns, venue and time of payment)
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A. SENIOR CITIZENS’ LAW
a. Exemption from income tax of qualified senior citizens
b. Tax incentives for qualified establishments selling goods and services to senior
citizens
X. INCOME TAX
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iii. Optional standard deduction
iv. Deductions allowed under special laws
c. Accounting periods
d. Accounting methods
i. Reconciliation of income under the PFRS and income under tax
accounting
e. Tax return preparation, filing, and tax payments
i. Manual filing
ii. Electronic filing and E-submission
iii. Large taxpayers and non-large taxpayers
iv. Income tax credits
v. Venue and time of filing of tax returns
vi. Venue and time of payment
vii. Modes of payment
viii. Use of tax tables
ix. Accomplishing of various income tax returns and forms
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i. Reconciliation of income under the PFRS and income under tax
accounting
e. Tax return preparation, filing, and tax payments
i. Manual filing
ii. Electronic filing and E-submission
iii. Large taxpayers and non-large taxpayers
iv. Income tax credits
v. Venue and time of filing of tax returns
vi. Venue and time of payment
vii. Modes of payment
viii. Use of tax tables
ix. Accomplishing of various income tax returns and forms
L. COMPLIANCE REQUIREMENTS
a. Administrative requirements (i.e. registration, issuance of receipts, printing of receipts)
b. Attachments to the income tax return, including CPA certificate, per NIRC
requirement
c. Keeping of books of accounts and records, including report of inventories
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d. Prescriptive period of maintaining books of accounts and other accounting records