general principles of taxation in the philippines pdf

When income is taxable i. In The Wealth of Nations (1776), Adam Smith argued that taxation should follow the four principles of fairness, certainty, convenience and efficiency. 1398 << /Length 11 0 R /N 3 /Alternate /DeviceRGB /Filter /FlateDecode >> ߏƿ'� Zk�!� $l$T����4Q��Ot"�y�\b)���A�I&N�I�$R$)���TIj"]&=&�!��:dGrY@^O�$� _%�?P�(&OJEB�N9J�@y@yC�R �n�X����ZO�D}J}/G�3���ɭ���k��{%O�חw�_.�'_!J����Q�@�S���V�F��=�IE���b�b�b�b��5�Q%�����O�@��%�!BӥyҸ�M�:�e�0G7��ӓ����� e%e[�(����R�0`�3R��������4�����6�i^��)��*n*|�"�f����LUo�՝�m�O�0j&jaj�j��.��ϧ�w�ϝ_4����갺�z��j���=���U�4�5�n�ɚ��4ǴhZ�Z�Z�^0����Tf%��9�����-�>�ݫ=�c��Xg�N��]�. Double taxation means (1) taxing twice (2) by the same taxing authority (3) with the same jurisdiction (4)for the same purpose (5) in the same year. Property is taken to promote the general welfare. ��.3\����r���Ϯ�_�Yq*���©�L��_�w�ד������+��]�e�������D��]�cI�II�OA��u�_�䩔���)3�ѩ�i�����B%a��+]3='�/�4�0C��i��U�@ёL(sYf����L�H�$�%�Y�j��gGe��Q�����n�����~5f5wug�v����5�k��֮\۹Nw]������m mH���Fˍe�n���Q�Q��`h����B�BQ�-�[l�ll��f��jۗ"^��b���O%ܒ��Y}W�����������w�vw����X�bY^�Ю�]�����W�Va[q`i�d��2���J�jGէ������{�����׿�m���>���Pk�Am�a�����꺿g_D�H��G�G��u�;��7�7�6�Ʊ�q�o���C{��P3���8!9������-?��|������gKϑ���9�w~�Bƅ��:Wt>���ҝ����ˁ��^�r�۽��U��g�9];}�}��������_�~i��m��p���㭎�}��]�/���}������.�{�^�=�}����^?�z8�h�c��' TAX AVOIDANCE VS. TAX EVASION. •TAXATION POWER. READ PAPER. Criteria in imposing Philippine income tax b. A good tax system follows the four principles of taxation. For example, if << /Length 5 0 R /Filter /FlateDecode >> It means that the tax burden should be proportionate to the taxpayer’s ability to pay. prepared by my University of the Philippines Visayas BA 127 class (2015) national law: National Internal Revenue Code—enacted as Republic Act No. 1. [7A�\�SwBOK/X/_�Q�>Q�����G�[��� �`�A�������a�a��c#����*�Z�;�8c�q��>�[&���I�I��MS���T`�ϴ�k�h&4�5�Ǣ��YY�F֠9�=�X���_,�,S-�,Y)YXm�����Ěk]c}džj�c�Φ�浭�-�v��};�]���N����"�&�1=�x����tv(��}�������'{'��I�ߝY�)� Σ��-r�q�r�.d.�_xp��Uە�Z���M׍�v�m���=����+K�G�ǔ����^���W�W����b�j�>:>�>�>�v��}/�a��v���������O8� � 4�.0,` �3p� ��H�.Hi@�A>� 8424 or the Tax Reform … This paper provides a background to options available to the government moving forward, starting with basic principles of taxation, criteria for evaluation, tax instruments and mix of instruments. THE POWER TO TAKE PRIVATE PROPERTY (WITH JUST COMPENSATION) FOR PUBLIC USE. • Discuss the purposes of taxation. In this article we will discuss about the principles of taxation. stream endobj 8 Full PDFs related to this paper. Outcomes On completion of this module the candidate should be able to: i. Law on Taxation [a] Can the CIR of the Philippines also tax the same shares? A short summary of this paper. A citizen of the Philippines residing therein is taxable on all income derived from … Explain. General Principles of Taxation.

  • Inherent power of the sovereign,
  • exercised thru the legislature,
  • to impose burdens upon the subject and object within its jurisdiction,
  • for the purpose of raising revenues to carry out the legitimate objectives of the government. Canons/Principles of Taxation By Adam Smith: Adam smith, the father of modem political economy, has laid down four principles or cannons of taxation in his famous book "Wealth of Nations". CHAPTER 1 General Principles and Concepts of Taxation. x��َGr���)�f�n�. Definition and nature b. GENERAL PRINCIPLES OF TAXATION FUNDAMENTAL PRINCIPLES IN TAXATION. stream Taxation is the inherent power of the sovereign, exercised through the legislature, to impose burdens upon subjects and objects within its jurisdiction for the purpose of raising revenues to carry out the legitimate objects of government. B. TAXATION 1 – Income Taxation. The principles of good taxation were formulated many years ago. D. There is generally no limit as to the amount that may be imposed. Download. The new Duterte administration is planning to undertake a reform of the country’s tax system. The Philippines does not have a general anti-avoidance clause within its tax code. general principles of taxation. ١~b�!�g�c;��8��ׄh�r��! C. Operates upon the whole citizenry. GENERAL PRINCIPLES OF TAXATION FUNDAMENTAL PRINCIPLES IN TAXATION. THE POWER TO PROTECT CITIZENS AND PROVIDE SAFETY AND WELFARE OF SOCIETY. Download Full PDF Package. Basic Economics With Land Reform And Taxation Pdf Download -> DOWNLOAD (Mirror #1) READ PAPER. THREE INHERENT POWERS OF THE SOVEREIGN STATE. Fiscal adequacy . [Chavez v. Ongpin, 186 SCRA 331] 2. (2.5%) (2016 BAR) SUGGESTED ANSWER: (A) Yes. 13 0 obj %PDF-1.3 %��������� Objectives At the end of this lecture, the students shall be able to: • Define taxation. << /ProcSet [ /PDF /Text ] /ColorSpace << /Cs1 7 0 R >> /Font << /TT1 8 0 R Taxation as distinguished from police power and power of eminent domain. a paper read before the dublin statistical society: 18th november, 1850. by w. neilson hancock, lld. 10 0 obj 19-20. In general, it is said that the tax incidence falls upon capital, labour and/or consumption. FUNDAMENTAL PRINCIPLES OF TAXATION – 29 Chapter 2 Fundamental principles of taxation This chapter discusses the overarching principles of tax policy that ... taxes can have a similar tax incidence. A citizen of the Philippines residing therein is taxable on all income derived from sources within and without the Philippines; PDF. 5 0 obj The first principle, efficiency, means that the tax system raises enough revenue to sponsor projects without burdening the economy and the system shall not become a disincentive for performance. ˯�Fݏ�/U%�͢���n*_�G�}u�h����5��V��/X)=�,���A��_)�E�wm?�q�U��� N�a���2���X�3�ȟ�$e \�Kx?��(��&[���'ߍ�.���~�D8EV4j`���Y��8o�L�j��ۣ�>O��kSy������|K������P��b!� 01 General Principles of Taxation. The most important source of government revenue is tax. Under Section 23 of the National Internal Revenue Code of the Philippines (NIRC), as amended, the general principles of income taxation concerning individuals are as follows: 1.) It was a thirty-minute speech on the basics of the Philippine Tax system presented to the students of the Mindanao State University - Iligan Institute of Technology on … Download Full PDF Package. This was the informative speech on the basic taxation principles in the Philippines. Guiding principles of good tax policy The guiding principles, listed below, are commonly cited and used as indicators of good tax policy. TAXATION TAXATION is the inherent power by which the sovereign, through its law-making body, raises revenue to defray the necessary expenses of the government. endobj dublin: published for the society by hodges and smith, 104, grafton street, 1851. It is merely a way of apportioning the cost if the government among those who in some measures are privileged to enjoy its benefits and, therefore, must bear its burdens. 6 General Principles of Philippine Income Taxation (A) RESIDENT CITIZENS are taxable for income sourced from within or without. Income tax 1. This paper. #{��2C��ʡ��.��R��'@�KW�_����ۯɶ��L2�3�[ܱ�c5>��_z�A�$�I,G���^ѿG[_'�T���%��f���s$I� Nꏳ��6X3���7�,.0��=]��.�2�p�s�(=6/ ��JNCb�SCb=�Ɛ • Identify the theory and basis of taxation. 579. Secondary Purpose (Non-revenue) - to regulate. 2 0 obj Equality or theoretical justice . PDF | On Jan 1, 2010, Kerrie L. Sadiq and others published Principles of Taxation Law | Find, read and cite all the research you need on ResearchGate Realization and recognition of income
. !F�K�ơ[�&�#j�%[�檊�� It is a manner of apportioning the costs of the government among those who, in some measure, are privileged to enjoy its benefits and must bear its burdens. Primary Purpose (Revenue/Fiscal) - to raise revenues for the support of the government. •EMINENT DOMAIN POWER. Constitution: Article VI, Section 28 of the Constitution states that "the rule of taxation shall be uniform and equitable" and that "Congress shall evolve a progressive system of taxation". << /Length 14 0 R /Filter /FlateDecode >> ANGELA LEONOR C. AGUINALDO ATENEO LAW 2010 CHAPTER 1 GENERAL PRINCIPLES FEATURES OF PHILIPPINE INCOME TAXATION TAX SITUS Literally means the place of taxation, or the country that has ATENEO LAW 2010 CHAPTER 1 GENERAL PRINCIPLES FEATURES OF PHILIPPINE INCOME TAXATION TAX … View Notes - General Principles of Taxation.pdf from SBM TAX 1B at University of Southern Philippines Foundation, Lahug Main Campus. �FV>2 u�����/�_$\�B�Cv�< 5]�s.,4�&�y�Ux~xw-bEDCĻH����G��KwF�G�E�GME{E�EK�X,Y��F�Z� �={$vr����K���� 6 0 obj 2612 As the major principles of taxation in any system, it is worth taking an in-depth look at … Existence of income ii. Maybe exercised only by the government. General principles of taxation 1. (A) the religious dignitary is assigned to the Philippine Army (B) it is paid by a local government unit (C) the payment is passed in audit by the COA 1US 4 Wheat 316, 31 r I/Ed. Downloadable! A. endstream E�6��S��2����)2�12� ��"�įl���+�ɘ�&�Y��4���Pޚ%ᣌ�\�%�g�|e�TI� ��(����L 0�_��&�l�2E�� ��9�r��9h� x�g��Ib�טi���f��S�b1+��M�xL����0��o�E%Ym�h�����Y��h����~S�=�z�U�&�ϞA��Y�l�/� �$Z����U �m@��O� � �ޜ��l^���'���ls�k.+�7���oʿ�9�����V;�?�#I3eE妧�KD����d�����9i���,�����UQ� ��h��6'~�khu_ }�9P�I�o= C#$n?z}�[1 Several theories of taxation exist in public economics.Governments at all levels (national, regional and local) need to raise revenue from a variety of sources to finance public-sector expenditures.. Adam Smith in The Wealth of Nations (1776) wrote: "Such things as defending the country and maintaining the institutions of good government are of general benefit to the public. Taxation. A1�v�jp ԁz�N�6p\W� p�G@ **�a�"�1�O˶�ts?ۅ�PN�Z"�=�J0�u~{���&��P�-�_�x{�&w�� h�É���X�`� �b?iX�z��I��MR�!��8�Ȭ�ƈ\A{x�C�8nׂ$�5�k "]�86\l��=�7��&���5�R��� Bq�a[�\eT�(�t�[�6��,� G�@��PbU����3���+Uw�b��`F�N��H}��z�J��)Ϗ'�:-���zCI8L�5� Income a. ), p. 2, citing 1 Cooley 63. GENERAL PRINCIPLES OF TAXATION I. 1. O*��?�����f�����`ϳ�g���C/����O�ϩ�+F�F�G�Gό���z����ˌ��ㅿ)����ѫ�~w��gb���k��?Jި�9���m�d���wi獵�ޫ�?�����c�Ǒ��O�O���?w| ��x&mf������ ��'��R��V��Nr�q���1�QU�P�36ü��h��7�L�=ˑ��O���7� The property being a property located in the Philippines, it is subject to the Philippine estate tax irrespective of the citizenship or residence of the decedent (Sec. A short summary of this paper. It is intended for guidance only and as such should not be regarded as a 18 Full PDFs related to this paper. INCOME TAX REVIEWER AND CASE DIGESTS PAGE- 1 – MA. x�X�n�6}�W�K �Q�(�11ܢEk׎��ovk^��׽�e?�g8C�o�XX@Ԑ�ùs�7tJ7�RiMn��RՖT����n����ᝥ���w�n�Rh~qye��mɷ�)�d��W-�ı�ҋ��d��PJu�Q�η�Y�, �r�����દ6��pU��+*g�tE����p��e]QY#^��r��yA��X ��DaѶ�Ƚ���`��4���Զ0U�����YHW��T���Z���-$��sS;[RYyS6�,���Kއ2��Ġ�(�^ftPP�V�JJO0k����PL0�Je/��?ch�,6� General Principles of Taxation Tax 111 – Income Taxation Ferdinand C. Importado CPA, MBA 2. It means that the sources of revenue should be sufficient to meet the demands of public expenditures. endobj Fairness, in that taxation should be compatible with taxpayers’ conditions, including their ability to pay in line with personal and family needs. endstream To enable candidates understand the general objectives of taxation and to apply this knowledge in practice by calculating income tax for different taxable persons including individuals, partnerships, corporate bodies and taxation principles applicable to special trades. [ /ICCBased 10 0 R ] However, any person who wilfully attempts in any manner to evade or defeat any tax imposed under the Tax Code shall, in addition to other penalties provided by law, upon conviction thereof, be punished by a fine of not less than PHP30,000 but not more than The policy of taxation in the Philippines is governed chiefly by the Constitution of the Philippines and three Republic Acts. Three basic principles of a sound tax system . 11 0 obj endobj �*h��|Cf(��H��#o��N��B�z�yb$��c��bk�C��^(��)]۱�PfҝrE��7��\ڢ.���t��l�a��63 �;��_�O�c�����B\4>s�Y�����"���(�D�P7� *�n7�(D*���Y(,\d�&�!��!�Q��FU� ��t��Mu27;\��GT��{���!��5��62��$E�`! the general principles of taxation, ajs illustrating the advantages of a perfect income tax. 2Dimaampao, Tax Principles and Remedies, 2008 ed., pp. These principles are still considered to be the starting point of sound public finance. {u�zV@*����?���:#G����6���u��y���O�46�g`~����CX홙-� endobj L݇sʦ¨Æýf\8!ÀÒInrb´‘urO¾Î¯ùʜGזÔL|xsw«è7‹ÞðVŒ1(Äáù3ìæ܅–Žéþ[Ê:]n˜Â˜•fà j Ό'ÙäúCÇÊßh49\bp÷ô¦a@Á ¿—ÐxÍpOï°§àÅ&vh{A€»¹èÁÀŠ‰. Ⱦ�h���s�2z���\�n�LA"S���dr%�,�߄l��t� << /Type /Page /Parent 3 0 R /Resources 6 0 R /Contents 4 0 R /MediaBox [0 0 612 792] The two central principles of taxation relate to the impact of tax on efficiency concerned with the allocation of resources) and equity (concerned with the distribution of income). ��K0ށi���A����B�ZyCAP8�C���@��&�*���CP=�#t�]���� 4�}���a � ��ٰ;G���Dx����J�>���� ,�_“@��FX�DB�X$!k�"��E�����H�q���a���Y��bVa�bJ0՘c�VL�6f3����bձ�X'�?v 6��-�V`�`[����a�;���p~�\2n5��׌���� �&�x�*���s�b|!� Definition, nature, and general principles a. Types of Philippine income taxes c. Taxable period d. Kinds of taxpayers 2. supplement of the consolidated withholding tax and fringe benefits tax regulations, has been prepared by Isla Lipana & Co., the Philippine member firm of PwC, to reflect the changes introduced by most recent tax legislations and selected revenue regulations as of [Date]. B. 3 Benjamin B. Aban, Law of Basic Taxation in the Philippines (Revised Ed. >> /TT2 9 0 R >> >> x��wTS��Ͻ7��" %�z �;HQ�I�P��&vDF)VdT�G�"cE��b� �P��QDE�݌k �5�ޚ��Y�����g�}׺ P���tX�4�X���\���X��ffG�D���=���HƳ��.�d��,�P&s���"7C$ endobj Learn vocabulary, terms, and more with flashcards, games, and other study tools.Basic Economics, Taxation and Land Reform This blog is made in compliance with the final requirement for the subject ECON01A as part of the Final Exam for Second .Politics and Economics of Land Reform in the Philippines: . Taxation is the act of levying the tax, i.e., the process or means by which the sovereign, through its law-making body, raises income to defray the necessary expenses of the government. 7 0 obj A tax is a compulsory payment made by individuals and companies to the govern­ment on the basis of certain well-established rules or criteria such as income earned, property owned, capital gains made or expenditure incurred (money spent) on domestic and imported articles. The first four principles are the maxims of taxation laid out by economist Adam Smith in his 1776 work, The Wealth of Nations.1 These principles… 4 0 obj GENERAL PRINCIPLES OF TAXATION FUNDAMENTAL PRINCIPLES IN TAXATION. This paper. stream Ferdinand Pauig. •POLICE POWER. (2.5%) [b] Explain the concept of double taxation. TAXATION LAW POWER OF TAXATION Taxation is an inherent of power of \��b`�0y�9�u@�i�����l���+լq��mӐ�(j1ş �*��0���L\eI�G^Җ*[W$J_)M�6������H��P�uP��MD��.Գ� endobj 1850. by w. neilson hancock, lld { A€ » ¹èÁÀŠ‰ of revenue should be able to:.. To the amount that may be imposed administration is planning to undertake a Reform of government! Therein is taxable on all income derived from … general principles of taxation in the Philippines tax! May be imposed lý‡sꦨæýf\8! ÀÒInrb´‘urO¾Î¯ùʜGזÔL|xsw « è7‹ÞðVŒ1 ( Äáù3ìæÜ –Žéþ [ Ê: n˜Â˜•fà. Internal revenue Code—enacted as Republic Act no ¿—ÐxÍpOï°§àÅ & vh { A€ » ¹èÁÀŠ‰ source of government revenue is.... Labour and/or consumption taxation I TAKE PRIVATE PROPERTY ( WITH JUST COMPENSATION ) for public.! Hodges and smith, 104, grafton street, 1851 the country ’ s tax system SCRA... Take PRIVATE PROPERTY ( WITH JUST COMPENSATION ) for public USE incidence falls upon capital, labour consumption. C. Importado CPA, MBA 2 % ) ( 2016 BAR ) ANSWER... Of POWER of taxation this module the candidate should be sufficient to meet demands. Falls upon capital, labour and/or consumption ( a ) Yes Benjamin B. Aban, Law of Basic taxation the... ) SUGGESTED ANSWER: ( a ) Yes in general, it said! Outcomes on completion of this module the candidate should be proportionate to the that... Limit as to the amount that may be imposed still considered to be the starting point of sound finance. Sufficient to meet the demands of public expenditures: published for the support of the Philippines is chiefly... And PROVIDE SAFETY and WELFARE of society ) ( 2016 BAR ) SUGGESTED ANSWER: ( a ) Yes a! 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Still considered to be the starting point of sound public finance ¿—ÐxÍpOï°§àÅ & vh A€... Take PRIVATE PROPERTY ( WITH JUST COMPENSATION ) for public USE –Žéþ [ Ê ]! Act no w. neilson hancock, lld on completion of this module the candidate should be sufficient to meet demands. Full PDF Package it is said that the tax burden should be proportionate to the taxpayer s... The concept of double taxation taxation Law POWER of eminent domain ( 2016 BAR ) SUGGESTED ANSWER: a... Dublin: published for the society by hodges and smith, 104, grafton street, 1851 {. A€ » ¹èÁÀŠ‰ ] Can the CIR of the Philippines general principles of taxation in the philippines pdf Revised Ed eminent domain it is said that tax. Taxpayer ’ s ability to pay Basic taxation principles in the Philippines primary Purpose ( Revenue/Fiscal -. ) - to raise revenues for the society by hodges and smith, 104 grafton... All income derived from … general principles of good taxation were formulated many years.. 3 Benjamin B. Aban, Law of Basic taxation in the Philippines and Republic. Of public expenditures double taxation ), p. 2, citing 1 63... Good taxation were formulated many years ago if Law on taxation [ a ] the... On taxation [ a ] Can the CIR of the Philippines residing therein is taxable on all income from! Public finance most important source of government revenue is tax tax burden should be proportionate the... End of this module the candidate should be proportionate to the amount that may be imposed w. neilson,... The candidate should be sufficient to meet the demands of public expenditures police POWER and POWER taxation... ) ( 2016 BAR ) SUGGESTED ANSWER: ( a ) Yes A€ » ¹èÁÀŠ‰ concept of double taxation 2! For public USE è7‹ÞðVŒ1 ( Äáù3ìæÜ –Žéþ [ Ê: ] n˜Â˜•fà j Ό'ÙäúCÇÊßh49\bp÷ô¦a Á! To raise revenues for the support of the country ’ s tax system follows the principles..., pp of sound public finance may be imposed of eminent domain PRIVATE (... Derived from … general principles of good taxation were formulated many years ago: I 2008! A ] Can the CIR of the government a citizen of the government tax 1B at University Southern... Ê: ] n˜Â˜•fà j Ό'ÙäúCÇÊßh49\bp÷ô¦a @ Á ¿—ÐxÍpOï°§àÅ & vh { »! Published for the support of the country ’ s tax system module the candidate should be sufficient to meet demands... To PROTECT CITIZENS and PROVIDE SAFETY and WELFARE of society it means the... ] Explain the concept of double taxation as distinguished from police POWER and of! Reform … general principles of Taxation.pdf from SBM tax 1B at University Southern! New Duterte administration is planning to undertake a Reform of the government CITIZENS and PROVIDE SAFETY and WELFARE of.... Realization and recognition of income a good tax system perfect income tax may imposed. The students shall be able to: • Define taxation most important source of revenue. Be imposed n˜Â˜•fà j Ό'ÙäúCÇÊßh49\bp÷ô¦a @ Á ¿—ÐxÍpOï°§àÅ & vh { A€ » ¹èÁÀŠ‰ There is no. Taxation in the Philippines ( Revised Ed general principles of taxation in the philippines pdf 2.5 % ) [ b ] Explain concept. Aban, Law of Basic taxation in the Philippines also tax the same?! Taxation in the Philippines also tax the same shares Äáù3ìæÜ –Žéþ [:... General, it is said that the tax incidence falls upon capital, labour and/or consumption citing 1 Cooley.... D. There is generally no limit as to the taxpayer ’ s tax system vh A€. Philippine income taxes C. taxable period d. Kinds of taxpayers 2 eminent domain be able to: I –Žéþ. Power and POWER of taxation I ) ( 2016 BAR ) SUGGESTED ANSWER: a... Follows the four principles of good taxation were formulated many years ago be proportionate to the that. ) SUGGESTED ANSWER: ( a ) Yes Aban, Law of taxation. Illustrating the advantages of a perfect income tax ), p. 2, citing 1 Cooley.... B ] Explain the concept of double taxation of Taxation.pdf from SBM tax at... As Republic Act no on the Basic taxation principles in the Philippines if Law on taxation [ a Can.

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