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Guiding principles of good tax policy The guiding principles, listed below, are commonly cited and used as indicators of good tax policy. A short summary of this paper. 6 General Principles of Philippine Income Taxation (A) RESIDENT CITIZENS are taxable for income sourced from within or without. Law on Taxation [a] Can the CIR of the Philippines also tax the same shares? endobj General Principles of Taxation Tax 111 – Income Taxation Ferdinand C. Importado CPA, MBA 2. 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. 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 • Identify the theory and basis of taxation. Primary Purpose (Revenue/Fiscal) - to raise revenues for the support of the government. 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.) THREE INHERENT POWERS OF THE SOVEREIGN STATE. (2.5%) [b] Explain the concept of double taxation. B. A1�v�jp ԁz�N�6p\W� p�G@ dublin: published for the society by hodges and smith, 104, grafton street, 1851. << /Type /Page /Parent 3 0 R /Resources 6 0 R /Contents 4 0 R /MediaBox [0 0 612 792] 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… •TAXATION POWER. A short summary of this paper. For example, if Income tax 1. THE POWER TO PROTECT CITIZENS AND PROVIDE SAFETY AND WELFARE OF SOCIETY. endstream Ferdinand Pauig. Criteria in imposing Philippine income tax b. endobj These principles are still considered to be the starting point of sound public finance. [Chavez v. Ongpin, 186 SCRA 331] 2. 11 0 obj 4�.0,` �3p� ��H�.Hi@�A>� stream • Discuss the purposes of taxation. endobj 6 0 obj **�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$�5�k "]�86\l��=�7��&��5�R�� Bq�a[�\eT�(�t�[�6��,� G�@��PbU��3��+Uw�b��`F�N��H}��z�J��)Ϗ'�:-��zCI8L�5� 19-20. 1398 THE POWER TO TAKE PRIVATE PROPERTY (WITH JUST COMPENSATION) FOR PUBLIC USE. O*��?��f��`ϳ�g��C/��O�ϩ�+F�F�G�Gό��z��ˌ��ㅿ)��ѫ�~w��gb��k��?Jި�9��m�d��wi獵�ޫ�?��c�Ǒ��O�O��?w| ��x&mf�� GENERAL PRINCIPLES OF TAXATION FUNDAMENTAL PRINCIPLES IN TAXATION. When income is taxable i. �*h��|Cf(��H��#o��N��B�z�yb$��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��$E�`! The most important source of government revenue is tax. Equality or theoretical justice . Download Full PDF Package. >> (A) the religious dignitary is assigned to the Philippine Army (B) it is paid by a local government unit (C) the payment is passed in audit by the COA 1US 4 Wheat 316, 31 r I/Ed. Objectives At the end of this lecture, the students shall be able to: • Define taxation. PDF. (2.5%) (2016 BAR) SUGGESTED ANSWER: (A) Yes. INCOME TAX REVIEWER AND CASE DIGESTS PAGE- 1 – MA. x��wTS��Ͻ7��" %�z �;HQ�I�P��&vDF)VdT�G�"cE��b� �P��QDE�݌k �5�ޚ��Y��g�}׺ P��tX�4�X��\��X��ffG�D��=��HƳ��.�d��,�P&s��"7C$ 8 Full PDFs related to this paper. The policy of taxation in the Philippines is governed chiefly by the Constitution of the Philippines and three Republic Acts. This was the informative speech on the basic taxation principles in the Philippines. B. 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. GENERAL PRINCIPLES OF TAXATION I. Downloadable! The principles of good taxation were formulated many years ago. 10 0 obj endobj << /Length 11 0 R /N 3 /Alternate /DeviceRGB /Filter /FlateDecode >> 18 Full PDFs related to this paper. prepared by my University of the Philippines Visayas BA 127 class (2015) a paper read before the dublin statistical society: 18th november, 1850. by w. neilson hancock, lld. ߏƿ'� Zk�!� $l$T��4Q��Ot"�y�\b)��A�I&N�I�$R$)��TIj"]&=&�!��:dGrY@^O�$� _%�?P�(&OJEB�N9J�@y@yC�R �n�X��ZO�D}J}/G�3��ɭ��k��{%O�חw�_.�'_!J��Q�@�S��V�F��=�IE��b�b�b�b��5�Q%��O�@��%�!BӥyҸ�M�:�e�0G7��ӓ�� e%e[�(��R�0`�3R��4��6�i^��)��*n*|�"�f��LUo�՝�m�O�0j&jaj�j��.��ϧ�w�ϝ_4��갺�z��j��=��U�4�5�n�ɚ��4ǴhZ�Z�Z�^0��Tf%��9��-�>�ݫ=�c��Xg�N��]�. stream 3 Benjamin B. Aban, Law of Basic Taxation in the Philippines (Revised Ed. Property is taken to promote the general welfare. ��'��R��V��Nr�q��1�QU�P�36ü��h��7�L�=ˑ��O��7� ��.3\��r��Ϯ�_�Yq*��©�L��_�w�ד��+��]�e��D��]�cI�II�OA��u�_�䩔��)3�ѩ�i��B%a��+]3='�/�4�0C��i��U�@ёL(sYf��L�H�$�%�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��' 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. \��b`�0y�9�u@�i��l��+լq��mӐ�(j1ş �*��0��L\eI�G^Җ*[W$J_)M�6��H��P�uP��MD��.Գ� This paper. This paper provides a background to options available to the government moving forward, starting with basic principles of taxation, criteria for evaluation, tax instruments and mix of instruments. Definition and nature b. ), p. 2, citing 1 Cooley 63. It means that the sources of revenue should be sufficient to meet the demands of public expenditures. #{��2C��ʡ��.��R��'@�KW�_��ۯɶ��L2�3�[ܱ�c5>��_z�A�$�I,G��^ѿG[_'�T��%��f��s$I� Nꏳ��6X3��7�,.0��=]��.�2�p�s�(=6/ ��JNCb�SCb=�Ɛ TAXATION LAW POWER OF TAXATION Taxation is an inherent of power of View Notes - General Principles of Taxation.pdf from SBM TAX 1B at University of Southern Philippines Foundation, Lahug Main Campus. TAX AVOIDANCE VS. TAX EVASION. The property being a property located in the Philippines, it is subject to the Philippine estate tax irrespective of the citizenship or residence of the decedent (Sec. 7 0 obj %PDF-1.3 It was a thirty-minute speech on the basics of the Philippine Tax system presented to the students of the Mindanao State University - Iligan Institute of Technology on … << /Length 5 0 R /Filter /FlateDecode >> •EMINENT DOMAIN POWER. This paper. stream The first principle, efficiency, means that the tax system raises enough revenue to sponsor projects without burdening the economy and the system shall not become a disincentive for performance. 1. Outcomes On completion of this module the candidate should be able to: i. x�X�n�6}�W�K �Q�(�11ܢEk׎��ovk^��׽�e?�g8C�o�XX@Ԑ�ùs�7tJ7�RiMn��RՖT��n��ᝥ��w�n�Rh~qye��mɷ�)�d��W-�ı�ҋ��d��PJu�Q�η�Y�, �r��દ6��pU��+*g�tE��p��e]QY#^��r��yA��X ��DaѶ�Ƚ��`��4��Զ0U��YHW��T��Z��-$��sS;[RYyS6�,��Kއ2��Ġ�(�^ftPP�V�JJO0k��PL0�Je/��?ch�,6� 2Dimaampao, Tax Principles and Remedies, 2008 ed., pp. << /Length 14 0 R /Filter /FlateDecode >> �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�� [ /ICCBased 10 0 R ] Taxation as distinguished from police power and power of eminent domain. /TT2 9 0 R >> >> Basic Economics With Land Reform And Taxation Pdf Download -> DOWNLOAD (Mirror #1) Three basic principles of a sound tax system . General Principles of Taxation. [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� � 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 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. Taxation. TAXATION 1 – Income Taxation. 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). D. There is generally no limit as to the amount that may be imposed. 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. Fiscal adequacy . 8424 or the Tax Reform … 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. In The Wealth of Nations (1776), Adam Smith argued that taxation should follow the four principles of fairness, certainty, convenience and efficiency. %�� As the major principles of taxation in any system, it is worth taking an in-depth look at … 2 0 obj 1. The new Duterte administration is planning to undertake a reform of the country’s tax system. 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. Definition, nature, and general principles a. {u�zV@*��?��:#G��6��u��y��O�46�g`~��CX홙-� 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. national law: National Internal Revenue Code—enacted as Republic Act No. endobj Download. 2612 LÝsÊ¦¨Æýf\8!ÀÒInrb´urO¾Î¯ùÊG×ÔL|xsw«è7ÞðV1(Äáù3ìæÜéþ[Ê:]nÂfà j Î'ÙäúCÇÊßh49\bp÷ô¦a@Á ¿ÐxÍpOï°§àÅ&vh{A»¹èÁÀ. << /ProcSet [ /PDF /Text ] /ColorSpace << /Cs1 7 0 R >> /Font << /TT1 8 0 R A citizen of the Philippines residing therein is taxable on all income derived from … A. 579. ˯�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!� C. Operates upon the whole citizenry. Maybe exercised only by the government. •POLICE POWER. Existence of income ii. 13 0 obj 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 5 0 obj 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. It is intended for guidance only and as such should not be regarded as a READ PAPER. GENERAL PRINCIPLES OF TAXATION FUNDAMENTAL PRINCIPLES IN TAXATION. GENERAL PRINCIPLES OF TAXATION FUNDAMENTAL PRINCIPLES IN TAXATION. In general, it is said that the tax incidence falls upon capital, labour and/or consumption. The Philippines does not have a general anti-avoidance clause within its tax code. ١~b�!�g�c;��8��ׄh�r��! endobj CHAPTER 1 General Principles and Concepts of Taxation. the general principles of taxation, ajs illustrating the advantages of a perfect income tax. Types of Philippine income taxes c. Taxable period d. Kinds of taxpayers 2. General principles of taxation 1. A good tax system follows the four 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]. Income a. x��َGr��)�f�n�.

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for the purpose of raising revenues to carry out the legitimate objectives of the government. 01 General Principles of Taxation. 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". 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 … Ⱦ�h��s�2z��\�n�LA"S��dr%�,�߄l��t� Realization and recognition of income Explain. !F�K�ơ[�&�#j�%[�檊�� 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. In this article we will discuss about the principles of taxation. Download Full PDF Package. It means that the tax burden should be proportionate to the taxpayer’s ability to pay. READ PAPER. ��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|!� 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". 4 0 obj general principles of taxation. endstream

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