HOMEWORK #01

Note: Study and prepare for recitation next week.

1. General Principles:
- Taxes: Concept/Definition
- Purpose of Taxation (Raise Revenue, Regulatory Purpose, Redistribution of wealth,
repricing, resuscitate economy, representation, etc.)
- Characteristics of taxes
- Classifications of taxes
i. As to subject matter
ii. As to purpose
iii. As to who bears the burden
iv. As to rate or graduation
v. As to taxing authority
vi. As to scope
vii. As to basis of amount
viii. Other classifications (consumption tax, sumptuary tax, flat tax)
- Distinguish: tax and other forms of exactions (License Fee, Special Assessments, Penalty,
Toll)
- Requisites of a valid tax
2. Distinguish: Power of Taxation, Police Power and Eminent Domain
3. Theory and Basis of Taxation
- Lifeblood
- Necessity
- Benefits-received
4. Jurisdiction over subjects and objects
5. Nature of the Taxing Power (Inherent and Legislative, unlimited in range, etc.)
6. Aspects of Taxation (Levy, Assessment and Collection, Payment and/or Exercise of Remedies)
7. Canons of Taxation (Equity, Certainty, Convenience, Economy, Productivity, Elasticity, Simplicity,
Diversity)
8. Principles of a Sound Tax System
- Fiscal adequacy
- Theoretical Justice
- Administrative Feasibility
9. Tax Base Erosion
10. Tax Pyramiding
11. Taxpayer's suit
12. inherent limitations on the power to tax
13. Constitutional Limitations on Taxation
14. General Concepts in Taxation
- Prospectivity of tax laws
- Imprescriptibility
- Situs of taxation
- Double Taxation (Strict sense/ Broad sense)
 15. Tax treaties as relief from double taxation
16. Escape from taxation
- Shifting of tax burden
- Distinguish: Tax avoidance and tax evasion
17. Exemption from taxation
18. Can taxes be offset from the government obligations or liabilities due to the taxpayer?
19. Doctrine of Equitable Recoupment
20. Compromise
21. Tax Amnesty
22. Construction and Interpretation of Tax Laws, Rules and Regulation.

- Enzo 😊