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  • Cheat Code For The Discussion (April 15, 2023)

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    Ace Gonzales
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    This document discusses the general principles and limitations of taxation power, including defining income tax and distinguishing between direct and indirect taxes. It covers when income is taxable and not taxable, and the criteria used for imposing income tax based on citizenship, residence, and source of income. The document also lists the kinds of taxpayers as individuals like citizens, aliens, estates, and trusts, as well as corporations including domestic, foreign, and partnerships.

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    Cheat Code for the Discussion (April 15, 2023)

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    This document discusses the general principles and limitations of taxation power, including defining income tax and distinguishing between direct and indirect taxes. It covers when income is taxable and not taxable, and the criteria used for imposing income tax based on citizenship, residence, and source of income. The document also lists the kinds of taxpayers as individuals like citizens, aliens, estates, and trusts, as well as corporations including domestic, foreign, and partnerships.

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    © All Rights Reserved
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    16 views1 page

    Cheat Code For The Discussion (April 15, 2023)

    Uploaded by

    Ace Gonzales
    This document discusses the general principles and limitations of taxation power, including defining income tax and distinguishing between direct and indirect taxes. It covers when income is taxable and not taxable, and the criteria used for imposing income tax based on citizenship, residence, and source of income. The document also lists the kinds of taxpayers as individuals like citizens, aliens, estates, and trusts, as well as corporations including domestic, foreign, and partnerships.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    CHEAT CODE FOR THE DISCUSSION (APRIL 15, 2023)

    GENERAL PRINCIPLES AND LIMITATIONS OF TAXATION POWER

    INCOME TAX, DEFINITION

    DIRECT TAX; INDIRECT TAX

    WHEN IS INCOME TAXABLE; (RETURN OF CAPITAL NOT SUBJECT TO INCOME TAX)

    CRITERIA IN THE IMPOSITION OF INCOME TAX


    Citizenship; Residence; and Source Principle

    KINDS OF TAX PAYERS


    Individuals (Citizens, Aliens, Estates and Trusts)
    Corporations (Domestic, Foreign, Partnerships,

    Assignment:
    Study the Kinds of Taxpayers; Gross Income; and Accounting Methods and Periods

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