Aduana, Nick L. ,,
Simplified and procedural handbook on income taxation .-- 2nd edition
Includes bibliographical references and index.
Chapter 1: Basic principles of taxation Nature and concept The need of taxation Bases of income taxation Brief historical background of Philippine revenue laws Tax laws in the Philippines Nature of taxation Characteristics of income taxation in the Philippines Purposes of taxation Inherent powers of the state Stages of taxation Basic principles of a sound tax system Limitations of the power of taxation Sources of taxation laws Interpretation of taxation laws Situs of taxation Means of escape from taxation Taxes Essential characteristics of taxes Canons of taxation Classification of taxes Tax distinguished from other charges Chapter 2: Administrative provisions of income taxation Definition and concept Tax assesment Tax collection Remedios of the Government to enforce tax collection Other tax remedies of the government Remedies of the taxpayer Forfeiture of refund Forfeiture of tax credit Government offices handling tax administrative functions Bureau of internal revenue (BIR) Chapter 3: Classification of individual taxpayers Nature and concept Classification of individual taxpayers Allowable personal exemption Guidelines on grant of basic personal exemption Guidelines on grant of additional personal exemption Basic guidelines on change of filing status Health/hospitalization insurance premium ( HHIP) Taxable income based on classification of inividual Taxpayers Chapter 4: Income Nature and concept General classification of income Requisites for income to be taxable Classification of taxable income Compensation income Business/Professional income Gains from dealing in property Passive income Other taxable income Interest income Rent income Dividend income Annuities Prizes and winnings Recovery of bad debts written off Tax refund Allocation from unidentified gross income Exclusion from gross income Chapter 5: Gains and losses from dealings in property Nature And Concept Measurement Ordinary assets and capital assets Ordinary and capital gain (Loss) Basic rules on ordinary gains and losses Basic rules on capital gains and losses Real property Real property classified as held for sale by real estate dealer Sale of housing unit to the government Real property classified as principal residence Installment payment of capital gains tax Computation of installment amount of capital gains tax Share of stock Sale of share of stock through the local stock exchange Taxation in sale of stock through the local stock exchange Sale of share of stock outside the local stock exchange Determination of gain or loss from sale of shares of stock Selling price of stock held as capital assets Fair market value of shares of stock Cost of shares of stock Effect of stock divedend Limitation of capital losses Sale or issurance of shares of stock through IPO Wash sale Rules on losses from wash sales Shares of stock becoming worhless Substituted bassic tax-free exhanges Substituted basis of securities Received by the transferor Substituted basic of the transferred property in the hands of the transferee The original basis of property to be tranferred Share surrendered upon dissolution and liquidation Preferred shares of security redeemed for retirement Other types of security transaction Payment of tax on sale of shares of stock Effect of non-payment of tax Penalties Chapter 6: Fringe Benefits Nature and concept Tax treatment of fringe benefits Non-taxable fringe benefits De minimis benefits Tax base and fringe benefits tax rate Treatment of fringe benefits tax Basic procedures in computing fringe benefits tax Monetary value Specific types of fringe benefits Housing privilege Expense account benefits Motor vehicle benefits Household expense benefits Interest on loan at less than market rate benefits Membership fess benefit Expenses for foreign travel benefit Holiday and vacation expenses benefit Educational assistance benefits Premium in excess of life,health,and non-life insurance benefits Chapter 7: Allowable Deductions Nature and concept Kinds of deduction Optional standard deduction Itemized deductions Special deductions Non-deductible item Chapter 8: Income tax of individuaks Nature and concept Individual taxpayers required to file an income tax return Where to file the income tax return When to file the income tax return Substitute filling of income tax return Miscellaneous provisions on filing the return Guidelines for handling centavos Taxes paid by individual taxpayers Factors affecting the computation of income tax Composition of income within the philippines Tax credits Limitations on tax credit Installment payment of income tax Basic rules in determining sources of income Chapter 9: Income taxes of partnership estate, and trusts Nature and concept Classification of partnership General professional partnership General co-partnership Comparisons of general professional partnership and general co-partnership Co-ownership Estate Trust Chapter 10: income tax of corporations Nature and concept Classification of corporationg Income tax liability of a corporation Normal corporate income tax (NCIT) Minimum corporate income tax (MCIT) Excess minimum corporate income tax Optional gross income tax Improperly accumulated earnings tax (IAET) Special corporations Corporate income tax return Tax credit for corpotations Chapter 11: Withholding Taxes Natures and concept Withholding taxes Income tax payment subject to final and creditable withholding taxes Withholding tax on compensation income Income tax collected at source on compensation income Statements and return Liability on withholding tax on compensation Use of exceptional computation Chapter 12: Compliance Requirements Nature and concept Keeping og books of account Registration requirements
ISBN 9789719924500
Income tax -- Law and legislation -- Philippines
Income tax -- Philippines
343.599052
Simplified and procedural handbook on income taxation .-- 2nd edition
Includes bibliographical references and index.
Chapter 1: Basic principles of taxation Nature and concept The need of taxation Bases of income taxation Brief historical background of Philippine revenue laws Tax laws in the Philippines Nature of taxation Characteristics of income taxation in the Philippines Purposes of taxation Inherent powers of the state Stages of taxation Basic principles of a sound tax system Limitations of the power of taxation Sources of taxation laws Interpretation of taxation laws Situs of taxation Means of escape from taxation Taxes Essential characteristics of taxes Canons of taxation Classification of taxes Tax distinguished from other charges Chapter 2: Administrative provisions of income taxation Definition and concept Tax assesment Tax collection Remedios of the Government to enforce tax collection Other tax remedies of the government Remedies of the taxpayer Forfeiture of refund Forfeiture of tax credit Government offices handling tax administrative functions Bureau of internal revenue (BIR) Chapter 3: Classification of individual taxpayers Nature and concept Classification of individual taxpayers Allowable personal exemption Guidelines on grant of basic personal exemption Guidelines on grant of additional personal exemption Basic guidelines on change of filing status Health/hospitalization insurance premium ( HHIP) Taxable income based on classification of inividual Taxpayers Chapter 4: Income Nature and concept General classification of income Requisites for income to be taxable Classification of taxable income Compensation income Business/Professional income Gains from dealing in property Passive income Other taxable income Interest income Rent income Dividend income Annuities Prizes and winnings Recovery of bad debts written off Tax refund Allocation from unidentified gross income Exclusion from gross income Chapter 5: Gains and losses from dealings in property Nature And Concept Measurement Ordinary assets and capital assets Ordinary and capital gain (Loss) Basic rules on ordinary gains and losses Basic rules on capital gains and losses Real property Real property classified as held for sale by real estate dealer Sale of housing unit to the government Real property classified as principal residence Installment payment of capital gains tax Computation of installment amount of capital gains tax Share of stock Sale of share of stock through the local stock exchange Taxation in sale of stock through the local stock exchange Sale of share of stock outside the local stock exchange Determination of gain or loss from sale of shares of stock Selling price of stock held as capital assets Fair market value of shares of stock Cost of shares of stock Effect of stock divedend Limitation of capital losses Sale or issurance of shares of stock through IPO Wash sale Rules on losses from wash sales Shares of stock becoming worhless Substituted bassic tax-free exhanges Substituted basis of securities Received by the transferor Substituted basic of the transferred property in the hands of the transferee The original basis of property to be tranferred Share surrendered upon dissolution and liquidation Preferred shares of security redeemed for retirement Other types of security transaction Payment of tax on sale of shares of stock Effect of non-payment of tax Penalties Chapter 6: Fringe Benefits Nature and concept Tax treatment of fringe benefits Non-taxable fringe benefits De minimis benefits Tax base and fringe benefits tax rate Treatment of fringe benefits tax Basic procedures in computing fringe benefits tax Monetary value Specific types of fringe benefits Housing privilege Expense account benefits Motor vehicle benefits Household expense benefits Interest on loan at less than market rate benefits Membership fess benefit Expenses for foreign travel benefit Holiday and vacation expenses benefit Educational assistance benefits Premium in excess of life,health,and non-life insurance benefits Chapter 7: Allowable Deductions Nature and concept Kinds of deduction Optional standard deduction Itemized deductions Special deductions Non-deductible item Chapter 8: Income tax of individuaks Nature and concept Individual taxpayers required to file an income tax return Where to file the income tax return When to file the income tax return Substitute filling of income tax return Miscellaneous provisions on filing the return Guidelines for handling centavos Taxes paid by individual taxpayers Factors affecting the computation of income tax Composition of income within the philippines Tax credits Limitations on tax credit Installment payment of income tax Basic rules in determining sources of income Chapter 9: Income taxes of partnership estate, and trusts Nature and concept Classification of partnership General professional partnership General co-partnership Comparisons of general professional partnership and general co-partnership Co-ownership Estate Trust Chapter 10: income tax of corporations Nature and concept Classification of corporationg Income tax liability of a corporation Normal corporate income tax (NCIT) Minimum corporate income tax (MCIT) Excess minimum corporate income tax Optional gross income tax Improperly accumulated earnings tax (IAET) Special corporations Corporate income tax return Tax credit for corpotations Chapter 11: Withholding Taxes Natures and concept Withholding taxes Income tax payment subject to final and creditable withholding taxes Withholding tax on compensation income Income tax collected at source on compensation income Statements and return Liability on withholding tax on compensation Use of exceptional computation Chapter 12: Compliance Requirements Nature and concept Keeping og books of account Registration requirements
ISBN 9789719924500
Income tax -- Law and legislation -- Philippines
Income tax -- Philippines
343.599052