•POLICE POWER. B. INCOME TAX REVIEWER AND CASE DIGESTS PAGE- 1 – MA. 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. TAXATION 1 – Income Taxation. 18 Full PDFs related to this paper. General Principles of Taxation Tax 111 – Income Taxation Ferdinand C. Importado CPA, MBA 2. TAXATION LAW POWER OF TAXATION Taxation is an inherent of power of 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. 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. 579. 1398 national law: National Internal Revenue Code—enacted as Republic Act No. **�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� 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��]�. GENERAL PRINCIPLES OF TAXATION FUNDAMENTAL PRINCIPLES IN TAXATION. The Philippines does not have a general anti-avoidance clause within its tax code. dublin: published for the society by hodges and smith, 104, grafton street, 1851. 2Dimaampao, Tax Principles and Remedies, 2008 ed., pp. 6 General Principles of Philippine Income Taxation (A) RESIDENT CITIZENS are taxable for income sourced from within or without. It means that the tax burden should be proportionate to the taxpayer’s ability to pay. 6 0 obj These principles are still considered to be the starting point of sound public finance. GENERAL PRINCIPLES OF TAXATION FUNDAMENTAL PRINCIPLES IN TAXATION. 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: . endobj READ PAPER. endobj Three basic principles of a sound tax system . 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. PDF. endstream 1. endobj stream << /Length 5 0 R /Filter /FlateDecode >> 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". As the major principles of taxation in any system, it is worth taking an in-depth look at … ١~b�!�g�c;��8��ׄh�r��! THE POWER TO TAKE PRIVATE PROPERTY (WITH JUST COMPENSATION) FOR PUBLIC USE. 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 … (2.5%) (2016 BAR) SUGGESTED ANSWER: (A) Yes. !F�K�ơ[�&�#j�%[�檊�� 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. In this article we will discuss about the principles of taxation. Outcomes On completion of this module the candidate should be able to: i. 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. 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 Income a. •TAXATION POWER. 10 0 obj Fiscal adequacy . A1�v�jp ԁz�N�6p\W� p�G@ 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 policy of taxation in the Philippines is governed chiefly by the Constitution of the Philippines and three Republic Acts. 7 0 obj Realization and recognition of income the general principles of taxation, ajs illustrating the advantages of a perfect income tax. This paper. ), p. 2, citing 1 Cooley 63. Income tax 1. endobj Downloadable! B. << /Length 14 0 R /Filter /FlateDecode >> • Identify the theory and basis of taxation. 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. READ PAPER. 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. 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". << /ProcSet [ /PDF /Text ] /ColorSpace << /Cs1 7 0 R >> /Font << /TT1 8 0 R Download Full PDF Package. 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��$E�`! Download. 4 0 obj ��K0ށi���A����B�ZyCAP8�C���@��&�*���CP=�#t�]���� 4�}���a � ��ٰ;G���Dx����J�>���� ,�_“@��FX�DB�X$!k�"��E�����H�q���a���Y��bVa�bJ0՘c�VL�6f3����bձ�X'�?v 6��-�V`�`[����a�;���p~�\2n5��׌���� �&�x�*���s�b|!� general principles of taxation. 5 0 obj View Notes - General Principles of Taxation.pdf from SBM TAX 1B at University of Southern Philippines Foundation, Lahug Main Campus. Guiding principles of good tax policy The guiding principles, listed below, are commonly cited and used as indicators of good tax policy. 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.) ��.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�$�%�Y�j��gGe��Q�����n�����~5f5wug�v����5�k��֮\۹Nw]������m mH���Fˍe�n���Q�Q��`h����B�BQ�-�[l�ll��f��jۗ"^��b���O%ܒ��Y}W�����������w�vw����X�bY^�Ю�]�����W�Va[q`i�d��2���J�jGէ������{�����׿�m���>���Pk�Am�a�����꺿g_D�H��G�G��u�;��7�7�6�Ʊ�q�o���C{��P3���8!9������-?��|������gKϑ���9�w~�Bƅ��:Wt>���ҝ����ˁ��^�r�۽��U��g�9];}�}��������_�~i��m��p���㭎�}��]�/���}������.�{�^�=�}����^?�z8�h�c��' Ferdinand Pauig. When income is taxable i. It means that the sources of revenue should be sufficient to meet the demands of public expenditures. 2 0 obj THREE INHERENT POWERS OF THE SOVEREIGN STATE. It is intended for guidance only and as such should not be regarded as a �FV>2 u�����/�_$\�B�Cv�< 5]�s.,4�&�y�Ux~xw-bEDCĻH����G��KwF�G�E�GME{E�EK�X,Y��F�Z� �={$vr����K���� %PDF-1.3 << /Length 11 0 R /N 3 /Alternate /DeviceRGB /Filter /FlateDecode >> Download Full PDF Package. E�6��S��2����)2�12� ��"�įl���+�ɘ�&�Y��4���Pޚ%ᣌ�\�%�g�|e�TI� ��(����L 0�_��&�l�2E�� ��9�r��9h� x�g��Ib�טi���f��S�b1+��M�xL����0��o�E%Ym�h�����Y��h����~S�=�z�U�&�ϞA��Y�l�/� �$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#$n?z}�[1 Law on Taxation [a] Can the CIR of the Philippines also tax the same shares? However, any person who wilfully attempts in any manner to evade or defeat any tax imposed under the Tax Code shall, in addition to other penalties provided by law, upon conviction thereof, be punished by a fine of not less than PHP30,000 but not more than A short summary of this paper. Ⱦ�h���s�2z���\�n�LA"S���dr%�,�߄l��t� It is merely a way of apportioning the cost if the government among those who in some measures are privileged to enjoy its benefits and, therefore, must bear its burdens. The two central principles of taxation relate to the impact of tax on efficiency concerned with the allocation of resources) and equity (concerned with the distribution of income). [7A�\�SwBOK/X/_�Q�>Q�����G�[��� �`�A�������a�a��c#����*�Z�;�8c�q��>�[&���I�I��MS���T`�ϴ�k�h&4�5�Ǣ��YY�F֠9�=�X���_,�,S-�,Y)YXm�����Ěk]c}džj�c�Φ�浭�-�v��};�]���N����"�&�1=�x����tv(��}�������'{'��I�ߝY�)� Σ��-r�q�r�.d.�_xp��Uە�Z���M׍�v�m���=����+K�G�ǔ����^���W�W����b�j�>:>�>�>�v��}/�a��v���������O8� � Taxation is the inherent power of the sovereign, exercised through the legislature, to impose burdens upon subjects and objects within its jurisdiction for the purpose of raising revenues to carry out the legitimate objects of government. Taxation. supplement of the consolidated withholding tax and fringe benefits tax regulations, has been prepared by Isla Lipana & Co., the Philippine member firm of PwC, to reflect the changes introduced by most recent tax legislations and selected revenue regulations as of [Date]. D. There is generally no limit as to the amount that may be imposed. 8 Full PDFs related to this paper. General Principles of Taxation. x�X�n�6}�W�K �Q�(�11ܢEk׎��ovk^��׽�e?�g8C�o�XX@Ԑ�ùs�7tJ7�RiMn��RՖT����n����ᝥ���w�n�Rh~qye��mɷ�)�d��W-�ı�ҋ��d��PJu�Q�η�Y�, �r�����દ6��pU��+*g�tE����p��e]QY#^��r��yA��X ��DaѶ�Ƚ���`��4���Զ0U�����YHW��T���Z���-$��sS;[RYyS6�,���Kއ2��Ġ�(�^ftPP�V�JJO0k����PL0�Je/��?ch�,6� Basic Economics With Land Reform And Taxation Pdf Download -> DOWNLOAD (Mirror #1) TAX AVOIDANCE VS. TAX EVASION. endobj THE POWER TO PROTECT CITIZENS AND PROVIDE SAFETY AND WELFARE OF SOCIETY. In The Wealth of Nations (1776), Adam Smith argued that taxation should follow the four principles of fairness, certainty, convenience and efficiency. C. Operates upon the whole citizenry.
  • Inherent power of the sovereign,
  • exercised thru the legislature,
  • to impose burdens upon the subject and object within its jurisdiction,
  • for the purpose of raising revenues to carry out the legitimate objectives of the government. Criteria in imposing Philippine income tax b. Types of Philippine income taxes c. Taxable period d. Kinds of taxpayers 2. General principles of taxation 1. {u�zV@*����?���:#G����6���u��y���O�46�g`~����CX홙-� 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‰. #{��2C��ʡ��.��R��'@�KW�_����ۯɶ��L2�3�[ܱ�c5>��_z�A�$�I,G���^ѿG[_'�T���%��f���s$I� Nꏳ��6X3���7�,.0��=]��.�2�p�s�(=6/ ��JNCb�SCb=�Ɛ 19-20. 1. 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. 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 … GENERAL PRINCIPLES OF TAXATION FUNDAMENTAL PRINCIPLES IN TAXATION. /TT2 9 0 R >> >> 13 0 obj The most important source of government revenue is tax. 8424 or the Tax Reform … This was the informative speech on the basic taxation principles in the Philippines. CHAPTER 1 General Principles and Concepts of Taxation. •EMINENT DOMAIN POWER. [ /ICCBased 10 0 R ] stream 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. Definition and nature b. A. [Chavez v. Ongpin, 186 SCRA 331] 2. Existence of income ii. 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. stream For example, if ˯�Fݏ�/U%�͢���n*_�G�}u�h����5��V��/X)=�,���A��_)�E�wm?�q�U��� N�a���2���X�3�ȟ�$e \�Kx?��(��&[���'ߍ�.���~�D8EV4j`���Y��8o�L�j��ۣ�>O��kSy������|K������P��b!� Maybe exercised only by the government. • Discuss the purposes of taxation. 4�.0,` �3p� ��H�.Hi@�A>� A citizen of the Philippines residing therein is taxable on all income derived from … In general, it is said that the tax incidence falls upon capital, labour and/or consumption. endobj The principles of good taxation were formulated many years ago. >> << /Type /Page /Parent 3 0 R /Resources 6 0 R /Contents 4 0 R /MediaBox [0 0 612 792] Fairness, in that taxation should be compatible with taxpayers’ conditions, including their ability to pay in line with personal and family needs. Definition, nature, and general principles a. A citizen of the Philippines residing therein is taxable on all income derived from sources within and without the Philippines; prepared by my University of the Philippines Visayas BA 127 class (2015) (A) the religious dignitary is assigned to the Philippine Army (B) it is paid by a local government unit (C) the payment is passed in audit by the COA 1US 4 Wheat 316, 31 r I/Ed. Property is taken to promote the general welfare.
. \��b`�0y�9�u@�i�����l���+լq��mӐ�(j1ş �*��0���L\eI�G^Җ*[W$J_)M�6������H��P�uP��MD��.Գ� %��������� 3 Benjamin B. Aban, Law of Basic Taxation in the Philippines (Revised Ed. Primary Purpose (Revenue/Fiscal) - to raise revenues for the support of the government. Taxation as distinguished from police power and power of eminent domain. Explain. x��َGr���)�f�n�. endstream endobj This paper. 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… Objectives At the end of this lecture, the students shall be able to: • Define taxation. A short summary of this paper. A good tax system follows the four principles of taxation. 01 General Principles of 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$ Equality or theoretical justice . 11 0 obj The new Duterte administration is planning to undertake a reform of the country’s tax system. (2.5%) [b] Explain the concept of double taxation. 2612 a paper read before the dublin statistical society: 18th november, 1850. by w. neilson hancock, lld. GENERAL PRINCIPLES OF TAXATION I. ��'��R��V��Nr�q���1�QU�P�36ü��h��7�L�=ˑ��O���7� ¿—Ðxípoï°§Àå & vh { A€ » ¹èÁÀŠ‰, ajs illustrating the advantages of a perfect income.. Recognition of income a good tax system sources of revenue should be sufficient to meet demands! The candidate should be able to: I that may be imposed of government is... Purpose ( Revenue/Fiscal ) - to raise revenues for the society by hodges and smith,,! 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And PROVIDE SAFETY and WELFARE of society 111 – income taxation Ferdinand C. Importado CPA, 2! Tax system Constitution of the government citizen of the Philippines and three Republic Acts – income taxation Ferdinand C. CPA... Suggested ANSWER: ( a ) Yes dublin statistical society: 18th november 1850.... Sound public finance hodges and smith, 104, grafton street, 1851 government revenue is tax the of... Ongpin, 186 SCRA 331 ] 2 Constitution of the government b ] Explain the concept of taxation! The government four principles of taxation in the Philippines also tax the same shares of revenue should be sufficient meet... Mba 2 CITIZENS and PROVIDE SAFETY and WELFARE of society SUGGESTED ANSWER: ( a ) Yes and..., 186 SCRA 331 ] 2 revenue is tax taxpayers 2 that may be imposed citizen of the is... Of taxpayers 2 for example, if Law on taxation [ a ] the. A good tax system an inherent of POWER of taxation Philippine income taxes C. taxable period Kinds. 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Kinds of taxpayers 2 on income... Philippines is governed chiefly by the Constitution of the Philippines is governed chiefly by the Constitution of country. Support of the country ’ s ability to pay ] Can the CIR of the Philippines also tax same. 331 ] 2, ajs illustrating the advantages of a perfect income tax [ b ] Explain the of. Property ( WITH JUST COMPENSATION ) for public USE important source of government revenue is tax principles...