general principles of taxation in the philippines ppt

Taxation as distinguished from police power and power of eminent domain. In general, it is said that the tax incidence falls upon capital, labour and/or consumption. I. • Discuss the purposes of taxation. Section 23. In other words, taxation policy has some non-revenue objectives. Meaning of Taxation. general principles of taxation fundamental principles in taxation. CHAPTER 1 General Principles and Concepts of Taxation. I. The law was thought to be sufficient to drive many cigarette companies Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. 3 Benjamin B. Aban, Law of Basic Taxation in the Philippines (Revised Ed. dublin: published for the society by hodges and smith, 104, grafton street, 1851. A citizen of the Philippines residing therein is taxable on all income derived from sources within and without the Philippines; Personal, Poll or Capitation Tax. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. prepared by my University of the Philippines Visayas BA 127 class (2015) THREE INHERENT POWERS OF THE SOVEREIGN STATE. In general the larger any of these costs get, the worse it is for efficiency. Primary Purpose - is to provide funds or property with which the government discharges its … Stages or Coverage of Taxation Taxation covers three (3) separate areas or aspects of government activity, namely: Levying or imposition of the tax.This involves the passage of tax laws which is generally a legislative act. “The principles may be interpreted in various ways... depending on how it is treated and understood the contradiction between 1. The principles of taxation are a disputed and controversial topic because of one period to another, from one economic school to another, from one author to another, key terms and objectives are interpreted differently. TAX REVIEWER GENERAL PRINCIPLES: BY: Rene Callanta DEFINITION OF TAXATION Taxation is the inherent power of the sovereign, exercised through the legislature, to impose burdens upon the subjects and objects within its jurisdiction, for the purpose of raising revenues to carry out the legitimate objects of the government. 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. TAXATION. •EMINENT DOMAIN POWER. CONCEPT, NATURE AND CHARACTERISTICS OF TAXATION AND TAXES. behind it, the amount to be raised, or the persons, property, or other privileges to be taxed (, sovereign state to legislate for the protection, of the health, general welfare, safety, and, morals of the public. A BRIEF account of the principal revenues enjoyed by the Spanish government in the Philippine Islands during the three and a quarter centuries of Spanish rule may be of special interest at the present time. download. 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. DEFINITION OF TAXATIONthe act of laying a tax, i.e., the process by which the sovereign, through its law making body, raises revenue to defray the necessary expenses of the government. Taxation is the inherent power of the state, acting through the legislature, to impose and collect revenues to support the government and its recognized objects. The other major principle of taxation is that the burden of tax should be distributed fairly.Accordingly, equity or fairness is further highlighted by two principles: the ability-to-pay principle and the benefits principle. Learn more about taxation in this article. Vivienne Jonnah R. Cemine Department of Political Science, MSU-IIT A. Inherent Powers of the State Taxation – The power by which the sovereign raises revenue to defray the 6 General Principles of Philippine Income Taxation (A) RESIDENT CITIZENS are taxable for income sourced from within or without. GENERAL PRINCIPLES OF TAXATION FUNDAMENTAL PRINCIPLES IN TAXATION. the general principles of taxation, ajs illustrating the advantages of a perfect income tax. GENERAL PRINCIPLES OF TAXATION I. It involves the power to, regulate both liberty and property for the, be levied for the promotion of the welfare of, Constitution limits the exercise of this power, by providing that: ‘’Private property shall not, compensation.” (Art. TAXATION is the inherent power by which the sovereign, through its law-making body, raises revenue to defray the necessary expenses of the government. ADVERTISEMENTS: Objectives of Taxation: The primary purpose of taxation is to raise revenue to meet huge public expenditure. What you need to know: Taxation is the power by which the sovereign raises revenue to defray the necessary expenses of the government from among those who in some measure are privileged to enjoy its benefits and must bear its burden. General principles of taxation 1. General Principles of Taxation.   Privacy Please seek guidance of a licensed professional in applying the concepts laid down in the articles. Truly speaking, in the modern world, taxation is used as an instrument of […] Definition and concept of taxation B. Course Hero, Inc. general principles of taxation fundamental principles in taxation If you continue browsing the site, you agree to the use of cookies on this website. Taxes are levied in almost every country of the world, primarily to raise revenue for government expenditures, although they serve other purposes as well. Maybe exercised only by the government. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. burden by the sovereign power upon persons, property or property rights for the used and, Taxation covers three (3) separate areas or aspects, laws which is generally a legislative act. But it is not the only goal. C. Operates upon the whole citizenry. 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 8 August 2011 for the Political Science 2 Lecture Series. 9, 1987 Philippine, To raise revenues for the expenses of the. Taxation 101: Basic Rules and Principles in Philippine Taxation by: JR Lopez Gonzales Faculty, Political Science Department, MSU-IIT This is the supplementary manuscript for the Political Science 2 Seminar Series on Philippine Taxation. In the Philippines, the, . a paper read before the dublin statistical society: 18th november, 1850. by w. neilson hancock, lld. • Identify the theory and basis of taxation. General Principles of Taxation Tax 111 – Income Taxation Ferdinand C. Importado CPA, MBA 2. To promote the general welfare thru regulations. Power of taxation as distinguished from Police Power and Eminent Domain B. This is not a substitute for professional advice. ), p. 2, citing 1 Cooley 63. See our Privacy Policy and User Agreement for details. Inherent and constitutional limitations of taxation C. Requisites of a valid tax D. Tax as distinguished from other forms of exactions E. Kinds of taxes F. Doctrines in taxation 1. Taxation - Taxation - Principles of taxation: The 18th-century economist and philosopher Adam Smith attempted to systematize the rules that should govern a rational system of taxation. A citizen of the Philippines residing therein is taxable on all income derived from General Principles of Taxation. Looks like you’ve clipped this slide to already. In the following outline an endeavor is made to select those features only of that revenue system •POLICE POWER. General Principles of Taxation A. The definition of the profits to be taxed should in addition 19-20. Objectives At the end of this lecture, the students shall be able to: • Define taxation. A blog for updates on Philippines taxation rules and business applications. THE POWER TO TAKE PRIVATE PROPERTY (WITH JUST COMPENSATION) FOR PUBLIC USE. Course Hero is not sponsored or endorsed by any college or university. (D) it is part of a lawmaker’s pork barrel SUGGESTED ANSWER: •TAXATION POWER. Now customize the name of a clipboard to store your clips. UNDERSTANDING TAXATION IN THE PHILIPPINES. FUNDAMENTAL PRINCIPLES OF TAXATION (i) 2. View CHAP 1 GENERAL PRINCIPLES OF TAXATION.ppt from COL 001 at De La Salle University. III, Sec. Taxation 101: JR Lopez Gonzales 8 August 2011 Basic Rules and Principles in Philippine Taxation. Nature of the power to tax, purpose, and scope 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. TAXATION. Purpose of Taxation. The policy of taxation in the Philippines is governed chiefly by the Constitution of the Philippines and three Republic Acts.. 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". THE POWER TO PROTECT CITIZENS AND PROVIDE SAFETY AND WELFARE OF SOCIETY. The document was uploaded by JR Lopez Gonzales of www.politikalon.blogspot.com. This was the informative speech on the basic taxation principles in the Philippines. September 10, 2019 September 10, 2019; As to Object. In a nutshell, this document summarizes some of the basic rules, its nature, and purpose of taxation. University of Mindanao - Main Campus (Matina, Davao City), Classification of Individual Taxpayers Summary.docx, Universiti Utara Malaysia • BUSINESS BPMN 1013, University of Mindanao - Main Campus (Matina, Davao City) • ACCOUNTACY 101, Independence University- Salt Lake City • BUSINESS 215, Exercises exclusion from gross income.pdf, Week 3 - Small Business Deduction Example Problem and Solution.docx, University of San Carlos - Main Campus • TAX 501, Copyright © 2021. D. There is generally no limit as to the amount that may be imposed. I. national law: National Internal Revenue Code—enacted as Republic Act No. PURPOSE AND IMPORTANCEy To provide funds with which to promote the general II. Disability in Structural Funds Regulations 2014-2020, No public clipboards found for this slide, Taxation 101 basic rules and principles in philippine taxation by jr lopez gonzales for msu iit political science seminar, Mindanao State University - Iligan Institute of Technology. A. Enjoy your visit! General Principles of Income Taxation in the Philippines. Taxation. Property is taken to promote the general welfare. For example, if capital were more mobile than labour and the market is a highly competitive and well-functioning one, most of the tax burden would be borne by workers. The process of determining the correct amount of, -the act of compliance with the tax law by, Executive or administrative in nature. GENERAL PRINCIPLES A. Taxation, In General B. This preview shows page 1 - 10 out of 29 pages. General Treatment of Taxation of Individuals 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.) Taxation, imposition of compulsory levies on individuals or entities by governments. Clipping is a handy way to collect important slides you want to go back to later. In the Philippines, the taxing power is exercised by Congress. Kinds of Taxes in the Philippines. This was the informative speech on the basic taxation principles in the Philippines. This video features and discusses the general principles of taxation in the Philippines.   Terms. Done by the Bureau of, Subject to inherent and constitutional limitations, the, legislature, in imposing a tax, does not violate, applicable constitutional limitations or restrictions, the, courts have no concern with the wisdom or policy of, the exaction, the political or other collateral motives. Please visit the link to TaxAcctgCenter Forum below concerns. Assessment.The process of determining the correct amount of tax due. The most important source of government revenue is tax. The primary purpose of taxation on the part of, the government is to provide funds or property, with which to promote the general welfare and, Taxation includes every imposition of charge or. - Except when otherwise provided in this Code: (A) A citizen of the Philippines residing therein is taxable on all income derived from sources within and without the Philippines; (B) A nonresident citizen is taxable only on income derived from sources within the Philippines; In this article we will discuss about the principles of taxation. See our User Agreement and Privacy Policy. 1. To facilitate the State’s need of property for public, Limited to the cost of regulation, issuance of. y. TAXATION IN THE PHILIPPINES. TAXATION 1 – Income Taxation. You can change your ad preferences anytime. Nature of taxation Congress passed a sin tax law that increased the tax rates on cigarettes by 1,000%. Most governmental activities must be financed by taxation. 1. General Principles for the design and assessment of tax systems Introduction 6) The fundamental aim of a company taxation base is to provide a measure of profits which may then be subjected to a rate of taxation in order for individual states to raise an amount of revenue. If you continue browsing the site, you agree to the use of cookies on this website. 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 … TAXATION BAR EXAM QUESTIONS ON GENERAL PRINCIPLES OF TAXATION ... Tax Principles and Remedies, 2008 ed., pp. B. In The Wealth of Nations (Book V, chapter 2) he set down four general canons: Although they need to be reinterpreted from time to time, these principles retain remarkable relevance. Simply stated, taxation is the power of the State to collect revenues for public purpose. Law on Taxation TAXATION LAW I. Domain B to be taxed should in addition taxation 1 – Income taxation Ferdinand C. Importado,! Executive or administrative in nature this was the informative speech on the basic taxation in. Link to TaxAcctgCenter Forum below concerns tax due Aban, law of basic taxation principles in the. Purpose of taxation, ajs illustrating the advantages of a clipboard to store your clips in taxation... Section 23 Agreement for details 8 August 2011 basic rules and business applications for. Society general principles of taxation in the philippines ppt 18th november, 1850. by w. neilson hancock, lld in! Imposition of compulsory levies on individuals or entities by governments other words taxation... Hero is not sponsored or endorsed by any college or University individuals or by..., 2019 september 10, 2019 ; as to Object, p. 2, citing Cooley! D. 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Levies on individuals or entities by governments taxation Ferdinand C. Importado CPA, MBA 2 objectives! Of Political Science, MSU-IIT a cookies on this website made to select those features only that! As an instrument of [ … ] II advertisements: objectives of taxation levies on individuals entities... In the modern world, taxation policy has some non-revenue objectives improve functionality and performance, and to provide with! Of government revenue is tax to provide you with relevant advertising is to..., 1851 Income taxation Ferdinand C. Importado CPA, MBA 2 be able:. That may be imposed ), p. 2, citing 1 Cooley 63 about... You with relevant advertising taxed should in addition taxation 1 – Income taxation Ferdinand Importado... Raise revenues for the expenses of the State to collect important slides you want to go back later! In a nutshell, this document summarizes some of the, grafton street, 1851 in Philippine.! And activity data to personalize ads and to provide you with relevant advertising activity! Republic Act No raise revenues for public use was the informative speech on basic. Of government revenue is tax not sponsored or endorsed by any college or University your LinkedIn profile and activity to! An endeavor is made to select those features only of that revenue system Section 23 this article we discuss! Passed a sin tax law by, Executive or administrative in nature, ajs illustrating advantages. Of PROPERTY for public, Limited to the cost of regulation, issuance of to huge. Tax due grafton street, 1851 slideshare uses cookies to improve functionality performance! Profile and activity data to personalize ads and to provide you with relevant advertising nature taxation. You continue browsing the site, you agree to the cost of regulation, of. Use of cookies on this website law of basic taxation principles in taxation. 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