To serve as means to contend social, general welfare, and economic development.

Regulatory Purpose
Paying the owner of the private property the full monetary equivalent of the property taken for public use
Just Compensation
This is an inherent limitation on the power of taxation
Tax must be for public purpose
Basic principles of sound tax system except:
Intellectual sensitivity
The principal purpose of taxation is.
To raise revenues for governmental needs.
Those restrictions on the exercise of the power of taxation that are found in the constitution or implied from its provisions
Constitutional limitation
It is the inherent power of the sovereign state to legislate for the protection of the health, welfare, and morals of the community.
Police
Income derived from labor, particularly employment where there is an employer-employee relationship
Compensation Income
To raise revenues for the use and support of the government to enable it to carry out its functions.
What is the tax base, tax rate, tax liability of Domestic Corporation within and without taxability?
Special Tax base and Tax rate
Which of the following is an ordinary taxpayer?
Resident Aliens (RA)
Which of the following is not an ordinary taxpayer?
Special Aliens/Filipino Employees (SAFE)
Persons who are not citizens of the Philippines (foreign individuals):
Non-resident Aliens
The amount of income tax due of Business International School for the year 2016 is:
P3,535,269
The amount of income tax due of Cargospeed International Corporation for the year 2016 is:
P10,605,807
The amount of income tax expense to be recognized on the income statement of Business International School for the year 2017 is:
P5,826,876
ed from its provisions

d morals of the community.

nal School for the year 2017 is: