Mats College Of Technology

R. Castillo St, Agdao, Davao City, 8000 Davao del Sur

SYLLABUS ON PCAC107 - INCOME TAXATION

Course Number : AE 3 Course Descriptive Title : Income Taxation

No of Units : 3 No of Hours per Week : MWF LEC 7AM-AM LAB 8AM to 9:00PM/ 6 H
Pre-requisites : None
MATS VISION – MISSION STATEMENT MATS COLLEGE EXPECTED SCHOOL OF ACCOUNTANCY AND
MANAGEMENT
UNIVERSITY PHILOSPHY
GRADUATE ATTRIBUTES (CEEGA)
Ciencia y Virtud ( Science and Virtue) LIFELONG LEARNER MISSION STATEMENT:
•Learns and works independently as well as collaboratively.
•Translates knowledge generated from research and other sources to
UNIVERSITY VISION
improve quality of life. The Philippine Association of Colleges and Universities is a
•Creates new ideas to better understand society socially responsible organization which strengthens its
To be the University of First choice
•Evaluates own thinking, behavior and spirituality for self-growth members’ capabilities, strives for their international
REFLECTIVE AND CREATIVE THINKER recognition, and advocates relevant and effective education
UNIVERSITY MISSION
•Thinks critically and creatively. policies.
•Open-minded.
To promote a brighter future for our students, for the
•Solves problems systematically.
Philippines and for the world. VISION:
•Loves art and shows artistic sensibility.
CARING AND TRUSTWORTHY CITIZEN
CEU CORE VALUES
•Values people and acts in unity with others.
•Commits to social justice and principles of sustainability and respect for The Philippine Association of Colleges and
V - Valuing others, caring for them and empowering them
A - Accountability, integrity and trust worthiness
diversity. Universities envisages nation-building through
•Practices good stewardship and accountability. transformative private education in a deregulated
L - Lifelong learning as individuals and as an organization
•Manifests social responsibility by helping improve conditions of those environment for the global Filipino.
U - Unity, teamwork and loyalty
who have less in life or circumstance.
E - Excellence in all endeavors
PROFICIENT COMMUNICATOR
S - Social responsibility as citizens of the Filipino nation
•Articulates ideas clearly for varied purposes and audiences of diverse
and of the world
culture.
•Listens attentively, engages in meaningful exchange and shares
knowledge, values, attitudes and intentions.
•Utilizes effectively appropriate media and information technologies.
COMPETENT AND PRODUCTIVE PROFESSIONAL
•Initiates, innovates better ways of doing things and accountability.
•Promotes quality and productivity.
 BSAMA PROGRAM
OUTCOMES:

The Students of Bachelor of Science in Airline Management Accounting should be able to:

 resolve business issues and problems, with a global and strategic perspective using knowledge and technical proficiency in areas of financial
accounting and reporting, cost accounting and management accounting and control, taxation and accounting information systems;

 conduct accountancy research through independent studies of relevant literature and appropriate use of accounting theory and methodologies;

 employ technology as a business tool in capturing financial and non-financial information, generating reports and making decisions;

 apply knowledge and skills to successfully respond to various types of assessments (including professional licensure and examinations); and

 confidently maintain a commitment to good corporate citizenship, social responsibility and ethical practice in performing functions as an accountant.

Course Intended Learning Outcomes:

1. Cognitive Objective
 Understand the nature and principles of income taxation
 Know the classification of individual taxpayers, corporation, partnership and estate and sound system of taxation.
 Identify the sources of income, exemptions and allowable deductions.
 Determine capital gains tax on real property, ordinary and capital assets and shares of stocks traded and not through local stock exchanges
 Use the correct income tax forms, calculate the amount of tax due and file a correct tax return.
2. Affective Objectives
 Integrate the values of honesty and integrity in filing income tax returns
 Develop awareness of social responsibilities of business enterprise

3. Psychomotor Objectives:
 Be equipped with skills in computing the correct estate, donor’s and other taxes.
 Be equipped with skills in solving case problems and analyzing taxes cases.
 Teaching Learning Time
Intended Learning Outcomes Content Resources Assessment
Activities Allotment
1. Determine the basic I. Basic Principles Multi-media based teaching Technology 12 Hrs. Quizzes
environment that surrounds 1.1. History of taxation techniques Performance based
taxation including its assessments:
Interactive seatwork and
exemption and limitation and
board work
interpretation.

2. Discuss the basic principles of 1.2. Definition, nature, scope, Graded Recitation
sound tax system characteristics, purpose,
3. Differentiate taxation from powers, attributes, Individual or Group
taxes. discussion on concept
classification, sources,
maps drawn
interpretation, situs, scape,
interpretation, exemptions Research assignments
and stages of taxation and its
limitation
1.3. Taxation, eminent domain
and police power
1.4. Taxation and taxes
1.5. Principles of sound system

1. Understand the administrative II. Administrative Provisions of Income Multi-media based teaching Technology 9 Hrs Quizzes
provision of the taxation, the Taxation techniques Performance based
remedies of the taxpayer and the 1.Definition and concept, assessments:
government. assessment, collections, remedies, the Interactive seatwork and Graded Recitation
collections agencies of the government, its board work Individual or Group
2. Know the officials of the
officials, duties and responsibilities and discussion
Bureau of Internal Revenue and its Research assignments
the books to be maintained.
basic duties and responsibilities

Classify the individual taxpayers
Fill out BIR form 2316, 1700
and 1702
Compute of withholding taxes and
income taxes
Individual Income Taxation Multi-media based teaching Technology 10 Hrs Quizzes
Definition of individual taxpayers techniques Performance based
Classifications of individual assessments:
taxpayers Sources of Gross Income Interactive seatwork and Graded Recitation
Income from personal services, business, board work Individual or Group
farming interest and lease agreements discussion
Inclusions/Exclusions from Gross income Research assignments
Deductions allowed on individual taxpayers
 Rules on change of status and personal
exemptions
Quarterly income tax of self-employed and
professionals
Computation of taxable income and tax due
Tax credit: withholding tax on compensation
income and at source
Filing and payment of income tax return
Documents accompanying the tax return
administrative provisions of individual
income taxation
Final income taxation benefits and passive
income basis and tax due.

III. Corporate Income Taxation Multi-media based teaching Technology 10 Hrs Quizzes
1. Classify the corporation and the 1. Definition of corporation techniques Performance based
various forms to fill out including 2. Classification of corporation assessments:
deadlines Interactive seatwork and Graded Recitation
3. Special classes of
2. Compute taxes board work Individual or Group
corporation discussion
4. Exempt corporations Research assignments
5. Government owned and
controlled corporations
6. Exclusions from and
inclusions on gross income
a. Reasons for exclusion
1. Gross profit from
business
2. Gross profit from
dealings in property
3. Rules on capital
gains and losses
4. Rules on ordinary
gains and losses
5. Rules on wagering
gains and loss
6. Capital assets
transactions
7. Other passive
 income subjects to
basic tax
8. Rules on gross

a. Domestic
corporations
b. Resident foreign
corporations
9. Allocation of
unidentified gross
income
7. Basic corporate income tax
8. Minimum corporate
income tax
9. Gross income tax
10. Final income tax
11. Basic income tax returns
12. Quarterly income tax
returns
13. Income tax credits

Multi-media based teaching Technology 10 Hrs Quizzes

1. Understand the estate and trust
and partnership and the
various forms to fill out
including deadlines
2. Compute taxes on estate of
trust & partnership
V. Income tax on estate and trust and techniques Performance based
partnership assessments:
1. Cancellation Interactive seatwork and Graded Recitation
2. Damage recovery board work Individual or Group
discussion
3. Prices and awards
Research assignments
4. Income from illegal sources
5. Bad debt recovery
6. Tax refund
7. Filing of returns
8. Payment

Course Requirements:

Required Textbook:
References:
The Law and Jurisprudence in the National Internal Revenue Code with the TRAIN Law, by Virgilio Reyes, 2018
The Law On Income Taxation by De Leon, 2013
E. Valenzuela and G. Roxas Income Taxation, Valencia Education Supply
E. Valencia and G. Roxas Reviewer and Quizzes in Taxation, Valencia Education Supply
Ramelo C. Gloria Taxation, Manila
Philippine Laws on Income Taxation by Virgilio Litonjua and Lilian M. Litonjua

Prepared by: Reviewed by: Approved by: Date:

MR. DARGE D. GEMENTIZA ANNE CORONICA AURORA I. KING Ed.D

Sept 20 2023
Instructor Head, Accountancy Program Dean