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The policies and guidelines for the optional vat-registration of registered business enterprises classified as domestic market enterprises under the 5% tax on gross income earned in lieu of all taxes regime during the transitory period. It covers various revenue regulations and memoranda issued by the bureau of internal revenue (bir) related to vat exemptions, zero-rating, withholding taxes, and other tax-related matters for registered enterprises, including those in the information technology - business process management (it-bpm) sector. The document also addresses topics such as donor's tax, percentage tax, gross income and deductions, tax remedies, accounting methods, and the ease of paying taxes act. Overall, this document provides a comprehensive overview of the tax policies and guidelines applicable to registered business enterprises in the philippines.
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Kingfisher School of Business and Finance Tax 3 Special Topics in Taxation COURSE OUTLINE 2nd Sem SY 2023 -2024 (^) Irish Iglesias Updated 01/19/ Week Date Day Time Activity 1 1/22/2024 Monday 8:00am - 10:00am Lecture 1/25/2024 Thurs 09:30am - 12:30pm Quiz 2 1/29/2024 Monday 8:00am - 10:00am Lecture 02/01/2024 Thurs 09:30am - 12:30pm Quiz
2/5/2024 Monday 8:00am - 10:00am Lecture 2/8/2024 Thurs 09:30am - 12:30pm Quiz (^4) 1/12/2024 Monday 8:00am - 10:00am Lecture (^5) 2/13/2024 - 2/16/ 6 2/19/2024 Monday 8:00am - 10:00am Lecture 2/22/2024 Thurs 09:30am - 12:30pm Quiz 7 2/26/2024 Monday 8:00am - 10:00am Lecture 2/29/2024 Thurs 09:30am - 12:30pm Quiz
4/1/2024 Monday 09:30am - 12:30pm Lecture 4/4/2024 Thurs 09:30am - 12:30pm Quiz 13 4/8/2024 Monday 8:00am - 10:00am Lecture 4/11/2024 Thurs 09:30am - 12:30pm Quiz 14 4/15/2024 Monday 8:00am - 10:00am Lecture 4/18/2024 Thurs 09:30am - 12:30pm Quiz 15 4/22/2023 Monday 8:00am - 10:00am Lecture 4/25/2023 Thurs 09:30am - 12:30pm Quiz 16 4/29/2024 Monday 8:00am - 10:00am 5/2/2024 Thurs 09:30am - 12:30pm (^17) 5/6/2024 Mon 8:00am - 10:00am 05/08/2024-05/11/ ‘A-B-C-D-E', each letter would refer to: Component Description The weekly workload of each subject is given in the full subject description. There are five workload components to each subje represent the five numbers in a workload series as:
2.5-1.5-.5-1-2= 7.5hours Basis in Evaluating
legal and ethical bounds to efficiently man 5.0 Business Taxes 5.1 Describe, analyze and compute value-adde 5.1.1 Describe the nature and characteristics of 5.1.2 Analyze and determine persons subject to 5.1.3 Analyze and determine transactions subje VAT and/or exempt from value-added tax 5.1.4 Identify and analyze sources of input tax 5.1.5 Analyze and compute value-added tax pay and determine tax credits, if applicable 5.1.6 Describe and apply the process for claimin 5.1.7 Apply tax return preparation and filing and 5.1.8 Determine compliance requirements (Titl 5.1.9 Analyze and determine tax implications of rules and regulations, and formulate soun legal and ethical bounds to efficiently man 5.2 Describe, analyze and compute percentage 5.2.1 Describe the nature and characteristics of 5.2.2 Analyze and determine persons subject to 5.2.3 Analyze and determine transactions subje percentage tax 5.2.4 Analyze and compute percentage tax due, applicable 5.2.5 Apply tax return preparation and filing and 5.2.6 Determine compliance requirements (Titl 5.2.7 Analyze and determine tax implications of rules and regulations, and formulate soun legal and ethical bounds to efficiently man 5.3 Describe, analyze and apply specific provisio business taxation 5.3.1 Senior Citizen’s Law (RA 7432) 5.3.2 Magna Carta for Disabled Persons (RA 727 6.0 Excise Tax (Title VI Sec 129 to 172) 6.1 Describe the nature and characteristics of ex 6.2 Identify and analyze transactions subject to 6.3 Determine and compute for the tax base an 6.4 Apply tax return preparation and filing and t 6.5 Determine compliance requirements (Title 6.6 Analyze and determine tax implications of tr and regulations, and formulate sound tax pla ethical bounds to efficiently manage tax liab 7.0 Documentary Stamp Tax (Title VII Sec 173 to 201) 7.1 Describe the nature and characteristics of do 7.2 Identify and analyze transactions subject to stamp tax 7.3 Determine and compute for the tax base an 7.4 Apply tax return preparation and filing and t 7.5 Determine compliance requirements (Title 7.6 Analyze and determine tax implications of tr and regulations, and formulate sound tax pl
ethical bounds to efficiently manage tax liab 8.0 Taxation Under the Local Government Code (Local Government Taxatio Property Taxation under the Local Government Code) 8.1 Describe the fundamental principles, scope 8.2 Describe and apply the scope and different t property tax, local tax imposed by provinces 8.3 Identify the tax base and tax rates 8.4 Determine the venue and time of payment 8.5 Evaluate and apply the remedies available to 8.6 Analyze and determine tax implications of tr and regulations, and formulate sound tax pl ethical bounds to efficiently manage tax liab 9.0 Preferential Taxation 9.1 Describe, analyze and apply Special Econom determining tax liabilities and tax incentive 9.1.1 Calculation of income tax (5% GIT, ITH 9.1.2 Other tax incentives (VAT/OPT, excise 9.2 Describe, analyze and apply Bases Conversi purposes of determining tax liabilities and t 9.2.1 Calculation of income tax (5% GIT, ITH 9.2.2 Other tax incentives (VAT/OPT, excise t 9.3 Describe, analyze and apply the Omnibus In determining tax liabilities and tax incentive 9.3.1 Calculation of income tax (ITH incentive 9.3.2 Other tax incentives (VAT/OPT, excise t 9.4 Describe, analyze and apply the basic princ provisions of Double Taxation Agreement (D Convention, UN Model Double Taxation Con Income Tax Convention) in determining the items of non-residents, such as: 9.4.1 Royalties 9.4.2 Dividends 9.4.3 Interest 9.4.4 Capital gains 9.4.5 Business profits and other income item 9.5 Analyze and determine tax implications of and regulations, and formulate sound tax p ethical bounds to efficiently manage tax liab Graduated tax rates, excise tax rates, documentary stamp tax rates, local business tax levels of real properties) shall be provided in the written comprehensive examination
Value Added Tax Preferential Taxation Prelim Exams Donors Tax, Value-Added Tax OPT Value Added Tax RR No. 1-23 Implements the Ten Percent (10%) Discount and the VAT Exemption under RA No. 11861 (Expanded Solo Parents Welfare Act). RR No. 3-23 Amends certain provisions of RR No. 16-2005, as amended by RR No. 21-2021, to implement Sections 294 (E) and 295 (D), Title Xlll of the NIRC of 1997, as amended by RA No. 11534 (CREATE Act), and Section 5, Rule 2 and Section 5, Rule 18 of the CREATE Act IRR, as amended. RR No. 13-23 Prescribes the policies and guidelines for the optional VAT-Registration of Registered Business Enterprises classified as Domestic Market Enterprise under the 5% tax on Gross Income earned in lieu of all taxes regime during the transitory period pursuant to Rule 18, Section 5 of the amended IRRs of Republic Act No. 11534 (CREATE Act) RR No. 1-24 Further amends Section 2, Sub-section 4.109-1(B)(p) of RR No. 4-2021, as amended by RR No. 8-2021, to implement the adjustment of the selling price threshold of the sale of house and lot, and other residential dwellings for Value-Added Tax exemption purposes RMC No. 24-23 Further clarifies the qualifications of Ecozone Logistics Service Enterprise (ELSE) to the incentives of VAT- Zero Rate on local purchases of goods and services exclusively and directly used in the registered project or activity RMC No. 53-2023 Provides clarifications on the entitlement of economic zone developers and operators to the Value- Added Tax (VAT) zero-rating on local purchases of goods and services directly and exclusively used in the registered project or activity RMC No. 72-2023 Publishes the May 22, 2023 letter from the Food and Drug Administration of the DOH endorsing updates to the List of VAT-Exempt Medicines under RA No. 10963 (TRAIN Law) and RA No. 11534 (CREATE Act) RMC No. 80-23 Clarifies issues relative to the implementation of Revenue Regulations No. 3-2023 and other related concerns on Value-Added Tax (VAT) zero-rate transactions on local purchases of the Registered Export Enterprises (REEs) and other entities granted with VAT zero-rate incentives under special laws and international agreements RMC No. 7-24 Reverses the Value-Added Tax exemption of transactions specified under Section 109 (BB) of the National Internal Revenue Code (Tax Code) of 1997, as amended DONORS TAX RR No. 15-23 Implements the grant of Donor's Tax exemption on the donation of imported capital equipment, raw materials, spare parts, or accesories directly and exclusively used by Registered Business Enterprises under Section 295 (C)(2)(e) of the National Internal Revenue Code of 1997, as amended PERCENTAGE TAX RMC No. 69-23 Reverts the rates of Percentage Tax, Minimum Corporate Income Tax, and Regular Corporate Income Tax on proprietary educational institutions and not for profit hospitals, pursuant to RA No. 11534 (Corporate Recovery and Tax Incentives for Enterprises Act [CREATE])
Corporations Gross Income and Gross Income Deductions Gross Income and Gross Income Deductions Tax Remedies,Accounting Methods and DST Midterm Exams REPUBLIC ACT No. 11796 (Ease of Paying Taxes Act) EOPT Corporate Tax RR No. 5-23 Amends RR No. 5-2021 on the requirements in availing the Income Tax exemption of foreign-sourced dividends received by a Domestic Corporation RR No. 14-23 Further amends the pertinent provisions of RR No. 2-98, as amended, to impose Creditable Withholding Tax on certain income payments by joint ventures/consortiums RR No. 16-23 Further amends the provisions of Revenue Regulations No. 2-98, as amended, to impose Withholding Tax on gross remittances made by electronic marketplace operators and digital financial services providers to sellers/merchants RMC No. 45-23 Publishes the full text of Fiscal Incentives Review Board Advisory No. 004-2023 clarifying the issues covering the transfer of registration with the Board of Investments (BOI) of Registered Business Enterprises (RBEs) in the Information Technology — Business Process Management (IT-BPM) Sector RMC No. 46-23 Publishes the full text of Fiscal Incentives Review Board Advisory No. 006-2023 regarding clarifications on the supplemental guidelines on the registration with the Board of Investments (BOI) of Registered Business Enterprises (RBEs) in the Information Technology — Business Process Management (IT-BPM) Sector RMC No. 69-23 Reverts the rates of Percentage Tax, Minimum Corporate Income Tax, and Regular Corporate Income Tax on proprietary educational institutions and not for profit hospitals, pursuant to RA No. 11534 (Corporate Recovery and Tax Incentives for Enterprises Act [CREATE]) RMC No. 115-23 Classifies the costs associated with franchises, concessions, licenses, rights, operations agreements or similar arrangements (herein referred to as Licenses or Rights) granted by the government to operate a public service, including public utility as an Administrative Cost instead of "Direct Cost of Services", for purposes of computing the gross income to determine the Optional Standard Deduction (OSD) under Section 34 (L) of the Tax Code of 1997, as amended by Section 3 of Republic Act (RA) No. 9504 RMC No. 8-24 Clarifies the provisions of Revenue Regulations No. 16-2023 imposing Withholding Tax on gross remittances made by electronic marketplace operators and digital financial services providers to sellers/merchants Tax Remedies, Tax Incentives RMC No. 33-2023 Clarifies the issuance and enforcement of Subpoena Duces Tecum
Actual contact hours per week Actual contact hours per week Actual contact hours per week This refers to the number of hours a student is expected to spend each week in preparing for lectures and tutorials. TAXATION - CPALE SYLLABUS OCT 2022 ribe the nature, scope, classification, and essential characteristics tify the principles of sound tax system uss the limitations on the power of taxation rentiate tax evasion vs. tax avoidance rmine the situs/place of taxation ain double taxation uss the legislation of tax laws y the impact of taxes in nation building uate ethical tax compliance and administration scribe the organization and functions of the Bureau of Internal Revenue, Local vernment Tax Collecting Units, Board of Investments, Philippine Economic e Authority and the Bases Conversion and Development Authority This caters to assignments, independent studies, fieldwork, and other forms of continuous assessment that contribute towards the final grade of the subject. naging his/her workload. The Unit-value of a subject is derived by dividing the estimated total number of workload hours per week for y and preparation per week). Thus, a 3-unit subject would require 7.5 hours of work a week, including lectures, tutorials, laboratory
uate the remedies of the government y the remedies of the taxpayer tatutory Offenses (Title X Sec 247 - 282) tify the taxpayer and tax base pute gross income yze the deductions from gross income rmine accounting periods y the accounting methods yze and compute tax due and determine tax credits, if applicable y tax return preparation and filing and tax payment requirements yze withholding taxes (at source, expanded or creditable withholding tax, final ding taxes and withholding tax on government payments) ermine compliance requirements (Title IX Sec 232 - 246) scribe, analyze and apply specific provisions of other special laws relating to 0.1 Senior Citizen’s Law (RA 7432) 0.2 Magna Carta for Disabled Persons (RA 7277) 0.3 Barangay Micro Business Enterprises (BMBEs) Act (RA 9178) erentiate and reconcile differences between tax rules and accounting rules g., PFRS or other frameworks) 1.1 Identify and understand the differences between tax rules and accounting rules 1.2 Reconcile accounting income to taxable income alyze and determine tax implications of transactions by applying the tax rules d regulations, and formulate sound tax planning strategies within legal and ical bounds to efficiently manage tax liabilities cribe, analyze and compute estate tax (Title III Chapter 1 Sec 84 to 97) scribe the principles, concepts involving estate taxation entify the classification of decedents entify and analyze the items to be included and/or excluded in ning gross estate entify and analyze the allowable deductions from gross estate alyze and compute tax due and determine tax credits, if applicable ply tax return preparation and filing and tax payment requirements termine compliance requirements (Title IX Sec 236 - 246) alyze and determine tax implications of transactions by applying the tax es and regulations, and formulate sound tax planning strategies within gal and ethical bounds to efficiently manage tax liabilities cribe, analyze and compute donor’s tax (Title III Chapter II Sec 98 to 104) scribe the principles, concepts involving donor’s taxation entify and analyze transfers which may be considered a donation entify the classification of donors termine, analyze and compute net gifts/donations alyze and compute tax due and determine tax credits, if applicable ply tax return preparation and filing and tax payment requirements termine compliance requirements (Title IX Sec 236 - 246) alyze and determine tax implications of transactions by applying the tax les and regulations, and formulate sound tax planning strategies within
cal bounds to efficiently manage tax liabilities nment Code (Local Government Taxation and Real Government Code) ribe the fundamental principles, scope of taxing power of local government units (LGUs) ribe and apply the scope and different types of local taxes (limited to real perty tax, local tax imposed by provinces, municipalities and cities, and barangays) tify the tax base and tax rates rmine the venue and time of payment uate and apply the remedies available to the government and the taxpayer yze and determine tax implications of transactions by applying the tax rules regulations, and formulate sound tax planning strategies within legal and cal bounds to efficiently manage tax liabilities cribe, analyze and apply Special Economic Zone Act for purposes of rmining tax liabilities and tax incentives 1 Calculation of income tax (5% GIT, ITH incentives, regular income tax) 2 Other tax incentives (VAT/OPT, excise tax, DST, local taxes) cribe, analyze and apply Bases Conversion and Development Act (BCDA) for oses of determining tax liabilities and tax incentives Calculation of income tax (5% GIT, ITH incentives, regular income tax) Other tax incentives (VAT/OPT, excise tax, DST, local taxes) cribe, analyze and apply the Omnibus Investments Code for purposes of rmining tax liabilities and tax incentives Calculation of income tax (ITH incentives, regular income tax) Other tax incentives (VAT/OPT, excise tax, DST, local taxes) cribe, analyze and apply the basic principles of tax treaty and specific isions of Double Taxation Agreement (DTA) models (e.g. OECD Model Tax vention, UN Model Double Taxation Convention and United States Model me Tax Convention) in determining the tax implications of various income s of non-residents, such as: 4 Capital gains 5 Business profits and other income items yze and determine tax implications of transactions by applying the tax rules regulations, and formulate sound tax planning strategies within legal and al bounds to efficiently manage tax liabilities ax rates, local business tax rates, and real property tax rates (including assessment n comprehensive examination when students are required to compute taxes.
Synchronous Asynchron ous Assign Tutorial/ Consultanc y Preparator y Work/ Reading Textbook/ Doing Exercises Total Student Workload
