TaxBukPinoy.Com is an online textbook of Philippines Taxation. This advocates to bring tax lessons nearer to students while they are doing some online activities. This is a free access site for everyone interested in learning the basic taxation rules in the Philippines. This is not however an official site of any government agency of the Philippines. Articles contained in this site enjoys copyright and is originally made by the author/s. Click the topic you want to read and enjoy learning!
State and Structure of Government.Power of taxation.Nature and scope.Exercise through other inherent powers.Limitations of the power of taxation.Inherent Limitations.Constitutional Limitations; Understanding Taxes:classifications of taxes.Comparisons; Principles of sound tax system.Common doctrine and applications.
|Introduction to Income Taxation
Concept of Income.Requisites of taxable income.Classifications of income.Valuation of income.Situs of income.Income tax system in the Philippines.withholding tax system:Withholding tax on compensation.Expanded withholding tax.Final withholding tax.
Definition of gross income.Gross income applications.Inclusions.Exclusions.
Allowable deductions:Kinds of deductions.Itemized deductions.Optional standard deductions.Special deductions
|Individual income taxation
Classifications of Individual taxpayers.Personal exemptions.Compensation income earners.Trade, business and practice of profession.Returns and administrative matters.Sample computations.
|Corporate income taxation
Classifications of corporate taxpayers.Corporate Income tax types.Special corporations.Exempt corporations.Returns and administrative matters. sample computations.
|Partnerships, estates an trusts
Classifications of partnerships.Ordinary partnerships.General professional partnerships.Estates.Trusts.
|Value Added Tax (VAT)
Concept of business taxes.Nature and coverage of VAT.Output tax:Regular VAT.Transactions deemed sale.Importations.Zero-rated sales.Input tax:Purchases of goods or services. Capital goods.Mixed transactions.transitional input VAT.Presumptive input tax. Standard input tax on sales to government.VAT-exemptions.VAT Refunds and Tax Credit Certificates (TCCs).VAT Returns and administrative matters.Sample computations
|Other Percentage Tax (OPT)|
Nature of OPT.Common carrier’s tax and keepers of garrages.International carrier’s tax.Franchise taxes.Overseas communications tax.Gross receipts tax on banks and non-bank financial intermediaries.Gross receipts tax on finance companies.Life insurance and agents of foreign insurance.Amusement taxes.tax on race horse winnings.Stock transaction tax.Returns and administrative provisions.sample computations
|Documentary Stamp Tax (DST)|
Nature and consequences.Documents, transaction and papers subject to DST.exemptions from DST.Administrative provisions.sample computations.
Nature and kinds.Alcohol products.Tobacco products.Petroleum products.Miscellaneous articles.Mineral products.Exceptions and excise tax credits.sample computations.
Community tax certificate (CTC).Business taxes.Real property taxes.sample computations.
Nature of donor’s tax.Donations to relative.Donations to strangers.Exempt donations.Administrative provisions.Sample computations.
Fundamentals of succession.Classifications of decedents and taxability.Gross estate:Inclusions.exclusions.Allowable deductions.Tax on citizen decedents.Tax on non-resident alien decedents.Administrative matters.Sample computations.
National Internal Revenue Taxes:Amendments.Prescriptions.Letter of Authority.sub poena duces tecum.Assessment notices.Protests.Appeals. Local taxes.
|Business Registrations and Licensing|
Business entities.Business names and trade names.Primary and secondary licenses.DTI registrations.SEC registration:Domestic corporations. Partnerships.Foreign Corporations.Local Registrations: LGU Registrations.BIR registrations.SSS Registrations. PHIC Registrations.HDMF Registrations.