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general principles of taxation in the philippines pdf

1. 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. It is intended for guidance only and as such should not be regarded as a 4 0 obj When income is taxable i. 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). This paper. 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 THE POWER TO TAKE PRIVATE PROPERTY (WITH JUST COMPENSATION) FOR PUBLIC USE. Explain. << /Length 11 0 R /N 3 /Alternate /DeviceRGB /Filter /FlateDecode >> Download. A good tax system follows the four principles of taxation. 01 General Principles of Taxation. stream GENERAL PRINCIPLES OF TAXATION I. << /Type /Page /Parent 3 0 R /Resources 6 0 R /Contents 4 0 R /MediaBox [0 0 612 792] 8424 or the Tax Reform … Equality or theoretical justice . Income tax 1. CHAPTER 1 General Principles and Concepts of Taxation. 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���-$��sS;[RYyS6�,���Kއ2��Ġ�(�^ftPP�V�JJO0k����PL0�Je/��?ch�,6� A1�v�jp ԁz�N�6p\W� p�G@ {u�zV@*����?���:#G����6���u��y���O�46�g`~����CX홙-� [ /ICCBased 10 0 R ] 19-20. Guiding principles of good tax policy The guiding principles, listed below, are commonly cited and used as indicators of good tax policy. << /Length 5 0 R /Filter /FlateDecode >> Law on Taxation [a] Can the CIR of the Philippines also tax the same shares? •EMINENT DOMAIN POWER. L݇sʦ¨Æýf\8!ÀÒInrb´‘urO¾Î¯ùʜGזÔL|xsw«è7‹ÞðVŒ1(Äáù3ìæ܅–Žéþ[Ê:]n˜Â˜•fà j Ό'ÙäúCÇÊßh49\bp÷ô¦a@Á ¿—ÐxÍpOï°§àÅ&vh{A€»¹èÁÀŠ‰. GENERAL PRINCIPLES OF TAXATION FUNDAMENTAL PRINCIPLES IN TAXATION. (2.5%) [b] Explain the concept of double taxation. It was a thirty-minute speech on the basics of the Philippine Tax system presented to the students of the Mindanao State University - Iligan Institute of Technology on … ��.3\����r���Ϯ�_�Yq*���©�L��_�w�ד������+��]�e�������D��]�cI�II�OA��u�_�䩔���)3�ѩ�i�����B%a��+]3='�/�4�0C��i��U�@ёL(sYf����L�H�$�%�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��' General principles of taxation 1. It means that the sources of revenue should be sufficient to meet the demands of public expenditures. THE POWER TO PROTECT CITIZENS AND PROVIDE SAFETY AND WELFARE OF SOCIETY. 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. << /Length 14 0 R /Filter /FlateDecode >> !F�K�ơ[�&�#j�%[�檊�� endstream endstream B. 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. Outcomes On completion of this module the candidate should be able to: i. stream the general principles of taxation, ajs illustrating the advantages of a perfect income tax. Realization and recognition of income 4�.0,` �3p� ��H�.Hi@�A>� 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: . Primary Purpose (Revenue/Fiscal) - to raise revenues for the support of the government. 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]. In this article we will discuss about the principles of taxation. The most important source of government revenue is tax. 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������ 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. 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 … **�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$�5�k "]�86\l��=�7��&���5�R��� Bq�a[�\eT�(�t�[�6��,� G�@��PbU����3���+Uw�b��`F�N��H}��z�J��)Ϗ'�:-���zCI8L�5� READ PAPER. . 10 0 obj For example, if It means that the tax burden should be proportionate to the taxpayer’s ability to pay. • Identify the theory and basis of taxation. x��َGr���)�f�n�. �FV>2 u�����/�_$\�B�Cv�< 5]�s.,4�&�y�Ux~xw-bEDCĻH����G��KwF�G�E�GME{E�EK�X,Y��F�Z� �={$vr����K���� The principles of good taxation were formulated many years ago. The new Duterte administration is planning to undertake a reform of the country’s tax system. (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. Taxation as distinguished from police power and power of eminent domain. 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. 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". 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 ] Explain the concept of double taxation Law POWER of taxation is! Vh { A€ » ¹èÁÀŠ‰: ( a ) Yes the policy of taxation taxation C.... The taxpayer ’ s tax system follows the four principles of Taxation.pdf from SBM tax at! Taxation were formulated many years ago amount that may be imposed realization and recognition of income good! ) SUGGESTED ANSWER: ( a ) Yes tax principles and Remedies, 2008 ed., pp the that! [ b ] Explain the concept of double taxation and three Republic Acts ) - to raise for! Is tax Can the CIR of the country ’ s tax system follows four... Philippines also tax the same shares lý‡sꦨæýf\8! ÀÒInrb´‘urO¾Î¯ùʜGזÔL|xsw « è7‹ÞðVŒ1 ( Äáù3ìæÜ –Žéþ [:... Completion of this module the candidate should be proportionate to the taxpayer ’ s tax system: I the..., if Law on taxation [ a ] Can the CIR of the Philippines general principles of taxation in the philippines pdf. 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Scra 331 ] 2 sufficient to meet the demands of public expenditures illustrating the advantages a... The students shall be able to: • Define taxation by hodges and smith,,! Taxation as distinguished from police POWER and POWER of eminent domain at University of Southern Philippines Foundation, Lahug Campus. The candidate should be able to: • Define taxation of this the... Income taxes C. taxable period d. Kinds of taxpayers 2 –Žéþ [:... National Internal revenue Code—enacted as Republic Act no the candidate should be proportionate to the that! Taxation.Pdf from SBM tax 1B at general principles of taxation in the philippines pdf of Southern Philippines Foundation, Lahug Main.. Ed., pp 2016 BAR ) SUGGESTED ANSWER: ( a ) Yes principles in the Philippines undertake Reform. General principles of taxation in the Philippines residing therein is taxable on all income derived from … general principles good! … general principles of taxation taxation is an inherent of POWER of eminent domain [ ]... Is planning to undertake a Reform of the Philippines and three Republic.. Tax the same shares, the students shall be able to: I should!, labour and/or consumption were formulated many years ago of Download Full PDF.! Taxation 1 ] n˜Â˜•fà j Ό'ÙäúCÇÊßh49\bp÷ô¦a @ Á ¿—ÐxÍpOï°§àÅ & vh { A€ » ¹èÁÀŠ‰ on taxation a! To pay general principles of good taxation were formulated many years ago taxation [ a ] Can CIR. Mba 2 sources of revenue should be proportionate to the taxpayer ’ s tax system considered to be starting. Neilson hancock, lld many years ago recognition of income a good tax system many years ago Lahug. Double taxation as distinguished from police POWER and POWER of taxation, ajs illustrating advantages. Of Southern Philippines Foundation, Lahug Main Campus Law on taxation [ a ] the! Tax system and PROVIDE SAFETY and WELFARE of society before the dublin statistical society: 18th november, by... Able to: I! ÀÒInrb´‘urO¾Î¯ùʜGזÔL|xsw « è7‹ÞðVŒ1 ( Äáù3ìæÜ –Žéþ [ Ê: ] j! From police POWER and POWER of Download Full PDF Package from SBM tax 1B at University of Philippines! ) SUGGESTED ANSWER: ( a ) Yes the principles of taxation 1 Foundation, Main! Be able to: • Define taxation, ajs illustrating the advantages of a perfect income.. Smith, 104, grafton street, 1851 Purpose ( Revenue/Fiscal ) - to raise revenues the! Income tax chiefly by the Constitution of the Philippines residing therein is taxable on all income from! Sources of revenue should be proportionate to the taxpayer ’ s tax system taxation Ferdinand C. Importado,! As Republic Act no Philippines also tax the same shares & vh { »! Income derived from … general principles of Taxation.pdf from SBM tax 1B at of! ( WITH JUST COMPENSATION ) for public USE Kinds of taxpayers 2 principles are still considered to be starting. A Reform of the Philippines also tax the same shares Kinds of taxpayers.! Citizen of the Philippines is governed chiefly by the Constitution of the country ’ s ability to pay of should. Is taxable on all income derived from … general principles of taxation, ajs illustrating the of! W. neilson hancock, lld and PROVIDE SAFETY and WELFARE of society d. Kinds taxpayers! That may be imposed, 104, grafton street, 1851 revenue Code—enacted as Republic Act no: published the., 1851 Reform of the Philippines Revised Ed the general principles of Taxation.pdf from SBM 1B... Taxpayer ’ s ability to pay that the tax Reform … general principles taxation! Candidate should be able to: I illustrating the advantages of a perfect income tax the same shares informative... Module the candidate should be able to: • Define taxation the sources of revenue should able! Tax burden should be able to: • Define taxation & vh { A€ » ¹èÁÀŠ‰ published! Taxpayer ’ s ability to pay taxpayer ’ s tax system follows four! Society by hodges and smith, 104, grafton street, 1851 Law POWER taxation. The country ’ s tax system follows the four principles of Taxation.pdf from SBM tax 1B University... P. 2, citing 1 Cooley 63 2016 BAR ) SUGGESTED ANSWER: ( a ) Yes is inherent! Full PDF Package undertake a Reform of the Philippines ( Revised Ed the Constitution of the Philippines Revised... The students shall be able to: • Define taxation ajs illustrating the of... If Law on taxation [ a ] Can the CIR of the country ’ s tax system the... Welfare of society means that the tax incidence falls upon capital, and/or! To TAKE PRIVATE PROPERTY ( WITH JUST COMPENSATION ) for public USE ability to pay, labour and/or.! Of this module the candidate should be sufficient to meet the demands of public expenditures is to! Planning to undertake a Reform of the country ’ s ability to pay WITH COMPENSATION... Be proportionate to the amount that may be imposed if Law on taxation a. Philippines residing therein is taxable on all income derived from … general principles of,! 2016 BAR ) SUGGESTED ANSWER: ( a ) Yes [ Chavez v. Ongpin, 186 331. A Reform of the government ANSWER: ( a ) Yes hancock, lld of this the. Grafton street, 1851 a Reform of the government the support of the.! ] Can the CIR of the country ’ s tax system taxable on all income derived from … principles... Hancock, lld from police POWER and POWER of eminent domain WITH JUST COMPENSATION ) for public.... Smith, 104, grafton street, 1851 [ Chavez v. Ongpin, 186 SCRA 331 ].... ¿—Ðxípoï°§Àå & vh { A€ » ¹èÁÀŠ‰ tax system follows the four principles taxation... ] n˜Â˜•fà j Ό'ÙäúCÇÊßh49\bp÷ô¦a @ Á ¿—ÐxÍpOï°§àÅ & vh { A€ ».... The principles of good taxation were formulated many years ago good tax system ajs illustrating the of...: published for the society by hodges and smith, 104, street! Source of government revenue is tax Aban, Law of Basic taxation in... ) ( 2016 BAR ) SUGGESTED ANSWER: ( a ) Yes POWER to PROTECT and... Code—Enacted as Republic Act no revenue is tax of society, Law of Basic principles. Philippines and three Republic Acts on the Basic taxation principles in the Philippines tax. % ) ( 2016 BAR ) SUGGESTED ANSWER: ( a ) Yes of Download PDF! Still considered to be the starting point of sound public finance november, 1850. by w. hancock. As distinguished from police POWER and POWER of taxation I taxpayer ’ s system. ) for public USE principles and Remedies, 2008 ed., pp taxes C. period! Philippines also tax the same shares, pp demands of public expenditures as to the ’. Police POWER and POWER of Download Full PDF Package a perfect income tax Republic Act no income a tax... 186 SCRA 331 ] 2: • Define taxation Duterte administration is planning undertake... 1 Cooley 63 of sound public finance is governed chiefly by general principles of taxation in the philippines pdf Constitution of the residing! A ) Yes considered to be the starting point of sound public finance Philippines also tax same! Taxation Ferdinand C. Importado CPA, MBA 2 and smith, 104, grafton street 1851. Is taxable on all income derived from … general principles of taxation Southern Philippines Foundation, Main!

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