Taxation II Assignment - September 6, 2019

Read: TRAIN LAW (RA 10963) on VAT, Excise Taxes and DST
Revenue Regulations No. 16-2005 as amended by
Revenue Regulations No. 13-2018
Revenue Regulations No. 26-18
Revenue Regulations No. 4-2018 on DST
Revenue Regulations No. 20-2018 on Excise Tax on Sweetened Beverages
Revenue Regulations No. 2-2019 on Non-essential services

IV. TAX CREDITS & REFUNDS 

      A.  Input Tax Credit
            1.   Persons Who Can Avail of the Input Tax Credit
            2.   Special Rules on Amortization of Input Tax on Depreciable Goods
           3.   Special Rules on Apportionment of Input Tax on Mixed Transactions
            4. Substantiation of Input Tax Credits
    B.  Transitional Input Tax
      C.  Presumptive Input Tax
      D. Final Withholding VAT
    E.  Claims for Refund or Issuance of Tax Credit Certificates
          1.  Zero-Rated or Effectively Zero-Rated Transactions
           2.  Cancellation of VAT Registration
           3.  Period within which Refund or Tax Credit of Input Tax shall be made
     Commissioner of Internal Revenue vs. Mindanao II Geothermal Partnership  G.R. No.

191498  January 15, 2014

Rohm Apollo Semiconductor Philippines v CIR SC First Division GR No. 168950 January 14, 2015 
V. COMPLIANCE REQUIREMENTS 
     A.   Registration with the BIR
           1.  Mandatory VAT Registration
           2.  Optional VAT Registration
          3.   Consequence of Failure to Register as a VAT Person
        4.   Cancellation of  VAT Registration
B. Record Keeping Requirements
    C. Invoices and Receipts
          1.  General Requirements
            2.  Invoicing and Recording of Deemed Sale Transactions
            3.  Consequences of Erroneous Issuance of VAT Invoice or O/R 
    D. Creditable Withholding Tax

VI. FILING OF RETURN AND PAYMENT OF TAX

OTHER PERCENTAGE TAXES

I. PERSONS/TRANSACTIONS SUBJECT TO PERCENTAGE TAXES 

   A. Persons Exempt from VAT
   B. Domestic Carriers and Keepers of Garages
   C. International Carriers
   D. Franchises
   E. Overseas Dispatch, Message or Conversation
   F. Banks and Non-Bank Financial Intermediaries
 G.  Finance Companies
   H.  Life Insurance Premiums
   I.  Agents of Foreign Insurance Companies
   J. Amusement
   K. Winnings
   L. Stock Transactions in Philippine Stock Exchange
II. RETURNS AND PAYMENT OF PERCENTAGE TAX 
    
EXCISE TAX
 I. GOODS SUBJECT TO EXCISE TAX 
    A.  In General
    B.   Alcohol Products
   C.  Tobacco Products
   D.  Miscellaneous Articles
         1.   Automobiles
         2.   Non-Essential Goods
   E.  Mineral Products
   F. Petroleum Products
        CIR v Pilipinas Shell Petroleum Corporation SC First Division G.R. No. 188497 February 19, 2014
G. Sweetened Beverages
H. Non- Essential Services

II. PAYMENT OF EXCISE TAXES 

III. ADMINISTRATIVE  REQUIREMENTS 

DOCUMENTARY STAMP TAX

I. IN GENERAL 
   CIR v. Heald Lumber, 10 SCRA 372
   Michel J. Lhuillier Pawnshop, Inc. v. CIR, G.R. No. 166786, May 3, 2006
II. TRANSACTIONS/DOCUMENTS SUBJECT TO DST 
     A.   Original Issuance of Shares
     B.  Transfer of Shares
     C.  Foreign-Issued  Bonds,  Debentures,  Shares  or  Certificates  of  Indebtedness, and Other             
               Instruments
     D.  Issue and Transfer of Certificate of Interest in Property or Accumulations
     E.  Bank Checks, Drafts, Certificates of Deposit not Bearing Interest
     F.  Debt Instruments
     G. Bills of Exchange or Drafts
     H. Acceptance of Foreign-Drawn Bills of Exchange
      I.  Foreign Bills of Exchange and LCs
     J.  Life Insurance Policies
      K. Non-Life Insurance Policies
     L.  Fidelity Bonds and Other Insurance Policies
    M. Annuities and Pre-Need Plans
  N. Indemnity Bonds
   O. Certificates
     P. Warehouse Receipts
     Q. Jai-Alai, Horse Race, Lotto, etc.
     R. Bills of Lading or Receipts
     S.  Proxies
     T.  Powers of Attorney
    U. Leases of Real Property
    V. Mortgages, Pledges and Deeds of Trust
   W. Deed of Sale of Real Property
   X.  Charter Party and Similar Instruments
   Y. Assignment, Transfer, and Renewal of Certain Instruments
 III. TRANSACTIONS/DOCUMENTS NOT SUBJECT TO DST 
 IV. PAYMENT OF DST 
 V. EFFECT OF NON-PAYMENT OF DST