TAX ON INDIVIDUALS

1. General Principles of Income Taxation- SITUS (Sec. 23)

2. Tax on Married Individuals (Sec. 24)
3. Rule on Minimum Wage Earners (Sec. 24)
4. Rule on Compensation Income Earners, Purely Self Employed, and Mixed Income Earners (Sec.
24)
5. Table of Passive Income Items
6. Capital Gains from Sales of Shares of Stock NOT Traded in PSE (Sec. 24)
7. Capital Gains from Sale of Real Property (Sec. 24)
8. Principal Residence Exception on CGT (Sec. 24)
9. Non-Resident Alien ETB (Sec. 25 A1)
10. Non-Resident Alien NETB (Sec. 25 B)
11. Alien Individual Employed by Regional or Area Headquarters and Regional Operating
Headquarters of Multinational Companies, Alien Individual Employed by Offshore Banking Units,
and Alien Individual Employed by Petroleum Service Contractor and Subcontractor (Sec. 25 CDE)
EXCEPT those registered with SEC
12. Tax Liability of Members of GPPs (Sec. 26)

TAX ON CORPORATIONS

1. Rate of Income Tax on Domestic Corporations (Sec. 27 A)

2. Proprietary Educational Institutions and Hospitals (Sec. 27 B)
3. GOCCs, Agencies or Instrumentalities (Sec. 27 C)
4. Table of Corporate Taxation (Sec. 27 D) Passive Income
5. CG from the Sale of Shares of Stock NOT Traded in PSE (Sec. 27 D 2)
6. Tax on Income Derived under the Expanded Foreign Currency Deposit System (Sec. 27 D 3)
7. CG Realized from the Sale, Exchange or Disposition of Lands and/or Buildings (Sec. 27 D 5)
8. MCIT on Domestic Corporations (Sec. 27 E)
9. Tax on Resident Foreign Corporations (Sec. 28 A 1)
10. International Carrier, Offshore Banking Units, Tax on Branch Profit Remittances, Regional or Area
Headquarters and Regional Operating Headquarters of Multinational Companies (Sec. 28 A 3 4
5 6)
11. Tax on Income Derived under the Expanded Foreign Currency Deposit System (Sec. 28 A7b)
12. CG from the Sale of Shares of Stock NOT Traded in PSE (Sec. 28 A7c) (RFC & NRFC)
13. Tax on Non-Resident Foreign Corporation (Sec. 28 B 1)
14. Special Corporations (Sec. 28 B 2 3 4)
15. Interest on Foreign Loans NRFC (Sec. 28 B5a)
16. Imposition of IAET (Sec. 29)
17. Exemptions from Tax on Corporations (Sec. 30)

TAXABLE INCOME, GROSS INCOME, DEDUCTIONS, CAPITAL & ORDINARY ASSETS, FILING OF RETURNS,
AND ESTATES AND TRUSTS

1. Taxable Income Definition (Sec. 31)

2. Gross Income Definition, Exclusions (Sec. 32)
3. Special Treatment of Fringe Benefit Tax , Definition, Fringe Benefits Not Taxable (Sec. 33)
 4. Deductions (Sec. 34)
a. Expenses
b. Interest
c. Taxes
d. Losses
e. Bad Debts
f. Depreciation
g. Charitable and Other Contributions
5. Optional Standard Deduction (Sec. 34 L)
6. Items not Deductible (Sec. 36)
7. Capital Gains and Losses Definition, Net Capital Gain, Holding Period Rule, Loss Limitation Rule,
Net Capital Loss Carry-over (Sec. 39)
8. Determination of Amount and Recognition of Gain or Loss (Sec. 40)
a. Computation of Gain or Loss
b. Basis for Determining Gain or Loss from Sale or Disposition of Property
c. Exchange of Property (GR-XPN)
9. Income from Sources Within the Philippines (Sec. 42)
a. Gross Income From Sources Within the Philippines
b. Taxable
c. Gross Income from Sources Without the Philippines
d. Taxable
e. Income from Sources Partly Within and Partly Without the Philippines
10. Individual Returns (Sec. 51, 51-A, 52)
11. Tax on Estates and Trusts (Sec. 60)
12. Fiscal Adjustment Return (Sec. 76)
13. Place and Time of Filing and Payment of Quarterly Corporate Income Tax (Sec. 77)

ESTATE AND DONOR’S TAX

1. Rates of Estate Tax (Sec. 84)

2. Gross Estate (Sec. 85)
a. Decedent’s Interest
b. Transfer in Contemplation of Death
c. Revocable Transfer
d. Property Passing Under General Power of Appointment
e. Proceeds of Life Insurance
f. Prior Interest
g. Transfers for Insufficient Consideration
h. Capital of the Surviving Spouse
3. Computation of Net Estate (Sec. 86)
a. Deductions Allowed to the Estate of a Citizen or a Resident (Vanishing Deductions)
b. Deductions Allowed to Non-Resident Estates
4. Exemption of Certain Acquisitions and Transmissions (Sec. 87)
5. Estate Tax Returns (Sec. 90)
6. Payment of Tax (Sec. 91)
 7. Payment of Tax Antecedent to the Transfer of Shares, Bonds or Rights (Sec. 97)
8. Imposition of Donor’s Tax (Sec. 98)
9. Rates of Tax Payable by Donor (Sec. 99)
10. Transfer for Less Than Adequate and Full Consideration (Sec. 100)
11. Exemption of Certain Gifts (Sec. 101)
12. Filing of Return and Payment of Donor’s Tax (Sec. 103)

VALUE-ADDED TAX AND OTHER PERCENTAGE TAX

1. Persons Liable for VAT, Definition of VAT, in the course of trade or business (Sec. 105)
2. Value-added Tax on Sale of Goods or Properties (Sec. 106)
a. Rate and Base of Tax
b. Definition of Goods or Properties
c. Sales by VAT-registered persons subject to zero percent rate
d. Transactions Deemed Sale
3. Value-added Tax on Importation of Goods (Sec. 107)
4. VAT on Sale of Services and Use or Lease of Properties (Sec. 108)
a. Rate and Base of Tax
b. Transactions/Services subject to zero percent rate
5. Exempt Transactions (Sec. 109)
6. Tax Credits, Creditable Input Tax, Excess Output or Input Tax (Sec. 110)
7. Transitional/Presumptive Input Tax Credits (Sec. 111)
8. Refunds or Tax Credits of Input Tax (Sec. 112)
a. Zero-rated of Effectively Zero-rated Sales
b. Cancellation of VAT Registration
c. Period within which Refund or Tax Credit of Input Taxes shall be Made
d. Manner of Giving Refund
9. Other Percentage Taxes Table

REMEDIES

1. Period of Limitation Upon Assessment and Collection of Taxes and Exceptions (Sec. 203 and Sec.
222)
2. Suspension of running of Statute of Limitations (Sec. 223)
3. Authority of the Commissioner to Compromise, Abate and Refund or Credit Taxes (Sec. 204)
4. Remedies for the Collection of Delinquent Taxes (Sec. 205)
5. Protesting of Assessment (Sec. 228)
6. Recovery of Tax Erroneously or Illegally Collected (Sec. 229)
7. Registration Requirements (Sec. 236)
a. Requirements
b. Persons Required to Register for VAT
c. Optional Registration for VAT of Exempt Person
8. Non-Retroactivity of Rulings (Sec. 246)