SIR K MNEMONICS

INCLUSION IN GROSS ESTATE Lack of Acceptance

RIP C CaRe GiVeR Spouses (xpn: moderate gifts/complete separation)
Retirement benefits from employer
Insufficient consideration ORDINARY ASSETS
Proceeds of Life Ins. SIT n d RUB
Contemp. Of death Stock in trade
Cont’l transfer Inventoriable
Revoc. Transfer Depreciable
GPA RP used in bus.
Void transfer
Reserv./Retention of Rights INCLUSIONS (GROSS GIFTS)
SHARED CORE
Exclusions Spouses renounce share in common prop.
FUSS WUSS Heir renounce share in inheritance
Fiduciary heir-fideicommisary Adequate consideration (less than)
Usufruct-owner of naked title Retention/Reservation of right
SPA Reserved-ET
Social welfae, charit/cultural Xpn: Waived during lifetime – DT
War damge Unreserved (DT)
US Veterans Donations (valid/erfect/absolute)
SSS/GSIS Conditional
Revocable
CPG (EXCLUSIVE)
SO GREEM TRANSACTIONS DEEMED SALES
Spouses own SCoReCrO
Grautious title Shareholders-distrib of profits (property divs.)
Right of Redemption/Exchange Consigment
Exclusive Money Retirement/cessation from bus./VAT status
Creditor-payment (dacion en pago)
ACP (EXCLUSIVE) Originally intended for sale
GRABE U
Grat. Title VAT EXEMPT TRANSACTIONS
Before marriage 1. AFFECTED SA BONE
Exclusive/personal use 2. FEVER
3. GOD COMES
VOID DONATIONS 4. PASS DAMI BEER
OFFICIALS 5. PROPER RES
Public Official
1. AFFECTED SA BONE
Future property/inherit
Agri/marine food prods.
Failure to comply with reqs
Fertilizers/seeds
Incapacitated persons w/o legal reps
Feeds-livestock, poultry, fish xpn: specialty feeds
Criminal offense
Coops-agri/credit
Inexistent object
Threshold-below 3M
Adultery/concubinage
Drugs and meds (diabetes, hypertension, cholesterol)
SIR K MNEMONICS
Special Laws Special aws
International Agree Intl Agreements
Books TIEZA
Newspaper Customs territory
Omnibus
2. FEVER Gold to BSP (TRAIN:Exempt)
Fuel-import of fuel for int’l ops
Export sales by nonvat OMNI CODE
Vessels/vehicles-domestic transport/intl ops BODIES
Real Properties (residential purpose) Bonded trading/mnfg warehouse
Diplomatic missions
3. GOD COMES Export process zones
Gold to BSP SBMA
Differently abled
Coops-non agri, credit, electric (members contib. Less ZERO RATE SERCIVES AND LEASE
than 15k) SA NExT Train, Bus, CaR
Merger and consolidation Special laws
Senior Citizens Intl agreements
Non-resident outside PH not engaged in trade/bus
4. PASS DAMI BEER Export-oriented enterprise
Percentage tax TIEZA
Assoc dues Transport by domestic air/sea carrier (foreign bound)
Senior citizens Intl air/ship ops
Differently abled Business outside
Agri conract growers Customs territory
Medical,dental, hosps. Vets institute. (xpn:prof fee) Renewable source of energy
Int’l transport ops of passengers/cargo
Banks an non-banks performing quasi banking
Educ insti.
Employer-employee relationship AMUSEMENT TAX
RAHQs BEx BaCa MuKa Co JR
5. PROPER RES Boxing 10
Prof tools/implements Basketball games 15
Personal/household effects Cabarets 18
Requisites: Sealed in PH Music Louge 18
Not in commercial qty Karaoke/Videokes 18
Reasonable time, tools will follow Cockpits 18
Residential props (Lease) Jai Alai 30
Race tracks 30
ZERO RATED SALE OF GOODS/PROPS
InFoRM SA NEXT COmInG INSURANCE
Intl air/ship ops HAIR Pin (2%)
Foreign county bound Health and accident ins.
Raw Mats Reissuance/Reinstatement/renewal fees
SIR K MNEMONICS
Penalties CGT (income)
Investment Income Exempted (income)

MaRe CO (VAT) DEDUCT: REDI

Mngt fees Retention for reasonable needs
Rental fees Dividents actually/constructively paid
Commisions Income tax paid
Others (unrelated)
DEMINIMIS
INCOME TAX INCLUSIONS CuTe SmALL CRiMe
ROYAL CoBRA PEPSI DD Clothing and Uniform – 6000/yr
Royalties Tangible: employee achievement award – 10k/yr
Compensation Shift:Night/graveyard
Bus/trade Meal allowance
Rentals Anniv celeb of entity (major)
Annuties Laundry allowance
Pensions Leaves (monetized unused)
Prize/winnings Private: VL – 10 days
Share of partners from distib Govt – VL and SL – unlimited
Interest CBA -10k/employee
Dividends Rice subsidy 2000/mo. Or 1 sack/mo.
Gains on Dealings in props Medical benefits
Employee 10k/yr
PWD/SENIOR CITIZENS(20% DISCOUNT) Dependents 350/mo.
FATHER I SIN
PM D hot FarMer CORPORATIONS
Di Lab PA JOIN ACCO AS IN
Fare Partnership
Theater Joint accts/stoco cos.
Recreation Associations
Sinehan Insurance cos.
P xpn: GPP, Companied organized for petroleum,
Medical geothermal, coal, other energy resources.
Dental
Hotel SPECIAL RFCs
Diagnostic BORACAI
Laboratory BPRT
OBUs
RAHQ/ROHQ
IAET intl Carriers
ADD: FENCE
Final Taxes (Income) CORPS EXEMPTED WITH MCIT/RCIT
Excluded in GI (income) HALa MALE BuBuCo LIMUT Co
NOLCO deducted Horizontal orgs (non profit)
SIR K MNEMONICS
Agricultural (non profit) Stock trans. Tax
Labor (non profit) Publi offering of shares
Mutual Aid assoc Bank
Fraternal orgs under lodge sys. Financial institurions
Orgs. Organized by employees for common benefit
Business league **Good luck mga beb!! -Martin 💓
Board of trade
Chamber of Commerce
Libingan/cemetery Cos.
Mutual savings bank/coop bank

NO CARCURVES
nonstock/nonprofit org/corps
Charitable
Athletic
Religious
Cultural
Rehab of veterans

FARTED SA FACE
Farmers/typhoons/fire insurance
Mutual telephone
Mutual Ditch/irrigation
Sales agents (farmers/fruit growers)
Civic league--->social welfare
Educ institutions

SPECIAL DCs
Proprietary educ. Inst.
Non proft
GOCC

PERCENTAGE TAX
DI3T OF WALA
STOP BF
Domestic carriers
Intl carrier
3m threshold (below)
Overseas comm.
Franchise tax
Winnigs
Amusement
Life insirance
Agent of foreign insurnace