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