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 … The Philippines does not have a general anti-avoidance clause within its tax code. 01 General Principles of Taxation. 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]. 4 0 obj READ PAPER. << /ProcSet [ /PDF /Text ] /ColorSpace << /Cs1 7 0 R >> /Font << /TT1 8 0 R 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. 2 0 obj Property is taken to promote the general welfare. As the major principles of taxation in any system, it is worth taking an in-depth look at … The principles of good taxation were formulated many years ago. • Discuss the purposes of taxation. 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.) 1398 Primary Purpose (Revenue/Fiscal) - to raise revenues for the support of the government. /TT2 9 0 R >> >> 1. ١~b�!�g�c;��8��ׄh�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 GENERAL PRINCIPLES OF TAXATION FUNDAMENTAL PRINCIPLES IN TAXATION. 7 0 obj D. There is generally no limit as to the amount that may be imposed. 19-20. (2.5%) [b] Explain the concept of double taxation. A1�v�jp ԁz�N�6p\W�
p�G@ Taxation as distinguished from police power and power of eminent domain. x��َGr���)�f�n�. THE POWER TO PROTECT CITIZENS AND PROVIDE SAFETY AND WELFARE OF SOCIETY. Explain. TAX AVOIDANCE VS. TAX EVASION. 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. A. 1. • Identify the theory and basis of taxation. General principles of taxation 1. 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 general principles of taxation. 579. ��.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�$�%�Y�j��gGe��Q�����n�����~5f5wug�v����5�k��֮\۹Nw]������m mH���Fˍe�n���Q�Q��`h����B�BQ�-�[l�ll��f��jۗ"^��b���O%ܒ��Y}W�����������w�vw����X�bY^�Ю�]�����W�Va[q`i�d��2���J�jGէ������{������m���>���Pk�Am�a�����꺿g_D�H��G�G��u�;��7�7�6�Ʊ�q�o���C{��P3���8!9������-?��|������gKϑ���9�w~�Bƅ��:Wt>���ҝ����ˁ��^�r�۽��U��g�9];}�}��������_�~i��m��p���㭎�}��]�/���}������.�{�^�=�}����^?�z8�h�c��' %��������� \��b`�0y�9�u@�i�����l���+լq��mӐ�(j1ş
�*��0���L\eI�G^Җ*[W$J_)M�6������H��P�uP��MD��.Գ� (2.5%) (2016 BAR) SUGGESTED ANSWER: (A) Yes. A short summary of this paper. Types of Philippine income taxes c. Taxable period d. Kinds of taxpayers 2. << /Length 5 0 R /Filter /FlateDecode >> 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". 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 It is intended for guidance only and as such should not be regarded as a 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 LAW POWER OF TAXATION Taxation is an inherent of power of >> ��'��R��V��Nr�q���1�QU�P�36ü��h��7�L�=ˑ��O���7� !F�K�ơ[�&�#j�%[�檊�� 13 0 obj 2Dimaampao, Tax Principles and Remedies, 2008 ed., pp. This was the informative speech on the basic taxation principles in the Philippines. Downloadable! 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. TAXATION 1 – Income Taxation. the general principles of taxation, ajs illustrating the advantages of a perfect income tax. In this article we will discuss about the principles of taxation. 10 0 obj •POLICE POWER. ��K0ށi���A����B�ZyCAP8�C���@��&�*���CP=�#t�]���� 4�}���a
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�&�x�*���s�b|!� In The Wealth of Nations (1776), Adam Smith argued that taxation should follow the four principles of fairness, certainty, convenience and efficiency. 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". A short summary of this paper. ), p. 2, citing 1 Cooley 63. INCOME TAX REVIEWER AND CASE DIGESTS PAGE- 1 – MA. 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. 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. [Chavez v. Ongpin, 186 SCRA 331] 2. In general, it is said that the tax incidence falls upon capital, labour and/or consumption. {u�zV@*����?���:#G����6���u��y���O�46�g`~����CX홙-� THREE INHERENT POWERS OF THE SOVEREIGN STATE. These principles are still considered to be the starting point of sound public finance. endobj Ⱦ�h���s�2z���\�n�LA"S���dr%�,�߄l��t� READ PAPER. endobj PDF. THE POWER TO TAKE PRIVATE PROPERTY (WITH JUST COMPENSATION) FOR PUBLIC USE. 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: . ˯�Fݏ�/U%�͢���n*_�G�}u�h����5��V��/X)=�,���A��_)�E�wm?�q�U���
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Nꏳ��6X3���7�,.0��=]��.�2�p�s�(=6/ ��JNCb�SCb=�Ɛ 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. 6 0 obj 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. 5 0 obj (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. The policy of taxation in the Philippines is governed chiefly by the Constitution of the Philippines and three Republic Acts. << /Length 11 0 R /N 3 /Alternate /DeviceRGB /Filter /FlateDecode >> This paper. 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� 2612 •EMINENT DOMAIN POWER. A citizen of the Philippines residing therein is taxable on all income derived from … 6 General Principles of Philippine Income Taxation (A) RESIDENT CITIZENS are taxable for income sourced from within or without. View Notes - General Principles of Taxation.pdf from SBM TAX 1B at University of Southern Philippines Foundation, Lahug Main Campus. General Principles of Taxation Tax 111 – Income Taxation Ferdinand C. Importado CPA, MBA 2. . For example, if A citizen of the Philippines residing therein is taxable on all income derived from sources within and without the Philippines; Download Full PDF Package. 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). endobj 8 Full PDFs related to this paper. Guiding principles of good tax policy The guiding principles, listed below, are commonly cited and used as indicators of good tax policy. 4�.0,`
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- Inherent power of the sovereign,
- exercised thru the legislature,
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- for the purpose of raising revenues to carry out the legitimate objectives of the government. The most important source of government revenue is tax. LÝsʦ¨Æýf\8!ÀÒInrb´urO¾Î¯ùÊG×ÔL|xsw«è7ÞðV1(Äáù3ìæÜ
éþ[Ê:]nÂfà j Î'ÙäúCÇÊßh49\bp÷ô¦a@Á ¿ÐxÍpOï°§àÅ&vh{A»¹èÁÀ. 3 Benjamin B. Aban, Law of Basic Taxation in the Philippines (Revised Ed. Criteria in imposing Philippine income tax b. Definition, nature, and general principles a. 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. Realization and recognition of income 11 0 obj [ /ICCBased 10 0 R ] endobj Existence of income ii. GENERAL PRINCIPLES OF TAXATION I. This paper. 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 … ߏƿ'� Zk�!� $l$T����4Q��Ot"�y�\b)���A�I&N�I�$R$)���TIj"]&=&�!��:dGrY@^O�$� _%�?P�(&OJEB�N9J�@y@yC�R
�n�X����ZO�D}J}/G�3���ɭ���k��{%O�חw�_.�'_!J����Q�@�S���V�F��=�IE���b�b�b�b��5�Q%�����O�@��%�!BӥyҸ�M�:�e�0G7��ӓ����� e%e[�(����R�0`�3R��������4�����6�i^��)��*n*|�"�f����LUo�՝�m�O�0j&jaj�j��.��ϧ�w�ϝ_4����갺�z��j���=���U�4�5�n�ɚ��4ǴhZ�Z�Z�^0����Tf%��9�����-�>�ݫ=�c��Xg�N��]�. Income tax 1. Three basic principles of a sound tax system . Equality or theoretical justice . Ferdinand Pauig. Secondary Purpose (Non-revenue) - to regulate. �*h��|Cf(��H��#o��N��B�z�yb$��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�`! It means that the tax burden should be proportionate to the taxpayer’s ability to pay. Download. Maybe exercised only by the government. 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. stream Taxation. General Principles of Taxation. CHAPTER 1 General Principles and Concepts of Taxation. 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. 8424 or the Tax Reform … It means that the sources of revenue should be sufficient to meet the demands of public expenditures. national law: National Internal Revenue Code—enacted as Republic Act No. 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������ C. Operates upon the whole citizenry. When income is taxable i. 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… stream 18 Full PDFs related to this paper. Outcomes On completion of this module the candidate should be able to: i. Fairness, in that taxation should be compatible with taxpayers’ conditions, including their ability to pay in line with personal and family needs. The new Duterte administration is planning to undertake a reform of the country’s tax system. B. Law on Taxation [a] Can the CIR of the Philippines also tax the same shares? [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� � GENERAL PRINCIPLES OF TAXATION FUNDAMENTAL PRINCIPLES IN TAXATION. 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$ << /Length 14 0 R /Filter /FlateDecode >> 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. GENERAL PRINCIPLES OF TAXATION FUNDAMENTAL PRINCIPLES IN TAXATION. Basic Economics With Land Reform And Taxation Pdf Download -> DOWNLOAD (Mirror #1) Download Full PDF Package. endobj a paper read before the dublin statistical society: 18th november, 1850. by w. neilson hancock, lld. %PDF-1.3 A good tax system follows the four principles of taxation. •TAXATION POWER. 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