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    36 views110 pages

    Sababan Taxation PDF

    Uploaded by

    Dina C. Necesito

    Copyright:

    © All Rights Reserved
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    of 110
    TAXATION LAW. REVIEW ATP. FRANCIS J. SABABAN Netionl Pr-Bar Reviewer, Taxation 2008 EDITION aves «oo oF 1H» “oo: 2008 — fe WAL a ye Shes IS ra wesnnie TED ba FRANCIS JCGABABAN ISBN 970-971-25-5227-0 No yori of into may be ened ot reproduc Inno, pampists, culos o ai, ‘ether ned, ceogaphe, ype, cid {neifrat stron deur inet or ‘Eifsbstoworsin without metanpermentat ‘than proeong th pope dation, ‘ avy hint ered ingoun ele eames ture nore Ie SFED yar eter eels com oe ages Surette wobec ‘alpen tte ee ALRIGHTS RESERVED ‘By THE AUTHORS Nena wsewore 7.232270 imu} | tay eX pent coMpay, WC Cee PREFACE, sation sow of the most ot the most il sujet fn tty of lad nth Be Ita be condos spe lulled into a fo may be wed Inti ean weleme all of thie who wl o under stand and comprehend tha miunderood” sje “The bok las oases the concerns of tote who fd etsy in wertanding Taxation Lave. This opal = ‘geo mate the subj appeal and ey fo compu ‘he dsc ve mae on sper octane Est ‘eoytoundentnd the sje nto and area ue tions are als ncaa forthe beer urdeasanding at he rad Bp Sababan IG rida toeond, sanded ha Ftd rath flyer ar Ht ed dag, pian tha Pi Frasers goa tt Foo mes nom Fanderand, noe Fina,” FF. Codeban ‘CONTENTS Datiton| ‘CHAPTER I—pastc PRINCIPLES Tron rn eee ei, herent ntaons 1 "haton hoa bo plc poo 2 Taton ily tate 5. The Goverents exempt a Teste. Conan! Limitations 1 Due res cla 2 Eu poem cas 5. Preto of Regions 4S Nomimpaimento inact 5. Nomimpreonment of No Paynnt oi Doct of Heute Reopen Pacing ectenoet ee ceeeenee eae Tai ‘ampoln fo Ral ase (CHAPTER N—1NcoME TAX Indio Reade sae ‘Nonwldent casas —— (Gres Curae aia ad Sa eset Al nnn [None Ain gaged are br Basis (NRAETB) [Nene Noe nga nad ‘or Basins (NRANETB) orp nt ttn ‘CHAPTER IMI—KaNDS OF INCOME TAXES el Dian Gren inome Ta na come Tn Minima Copa income cf Zon a Taesne RI} mpegs Accused Eaage TiO of ‘optional Cospote ome Tax 3 on ras acne ‘CHAPTHR IV SOURCES OF INCOME (Got ame rom Sours within he Philippines "geeton AD nnn Bier Diedonda Rend aie ‘Sleof Real Peppy Scot Peon Paps ‘Goss nome uns iow ih Pippin ‘gecuon atc) ‘nea om Sours ay in nd pay ‘ridhout he Pipes cto STE Sate of Persona Propet (ton ED. Pecetge kein Acoun Seton SD. Linton Cap ose Secon SACD. ‘Net Copl ins Cony Over sng 910) (Sa Less SS con. apo Orin Aa vic ven (CHAPTER VI—TAXONINDIVIDUALS -ResgentCtzannoneéent tien, OCW ‘Semen Rett Ae 1. Retincome teen = 2 Ral income e ore er om @ eaticeeeranatee & cusergeacs a oan weit et aS? seueeeersts See potato eents aso Shiieeiai=s mate ee saa eee pieecinsncan st ee Sa Se seeereecd ‘CHAPTER vit—TAX ON CORPORATIONS ‘Donati opts eon 2) 2 Opsona Carpe tao 15 on ‘Gas toes 2 petty Shea ais sa Hai Siamese (@) nar trom dopa yield oe th “Monaary Bra fon Depot Stns sn fm rt end and 18) Gita gas esses ckottndsé nt ec Sanpee (@) Socom ince dctived und tw espa Tonign suena ye (2) trope desonse : (0) - Copal fin rented os ae ‘uhangeo clips fe aonb ae # eae ee a8 « eee © Meiners ese en — domes cpio ee end Cops cA Trgonl 2 phon connie son ix ol ion peter ae (a) retrace - 10) nematonlapping 5. Otore Barking Usb nnn & Thconfianch ft Renita Relient enn Nona onign Cxpoticn =o 1 inGenea| : gh Ieeton isla (Copal Gis em ae chaste at ‘eaded ie noc exdange ean _ CHAPTUR VIII MANIMUM CORPORATE INCOME TAX postin of the ecsone 8) se AI ‘nytt Ea ii fi (Sesion 21 ole fom te Mime Corie "oe eon 2155 Improperly Azunlaed Haan rien of Ppa to Avot nem Tax (Sesion 2ICERR No 2200) on (CUAPTHR x — EXEMPT CORFORATIONS, (General Poston! Ftp ton 3) N seeees anaes B BRR ae al | | Joint Ye Under Seri Cnt th Becrvenmeste ‘Governed of Cane Carpe (Seon 27D ven ee Other tnept Crpectos Scien 5). ‘cuarreR xt [GOSS INCOME AND EXCLUSIONS (ross le eeson 2A. 1 Gompensatn for eevee lesan butted ‘Sites eng comenssonn and ‘Geouncome deel he dd fade crus orth ur of profesion. aed es dens in pay Pew, aoe Pare ditiburc ake rm ein ‘he general penton! pataentip ‘Cuarren xt FRINGE HENEITTS TAX ‘CHAPTER XITI— ALLOWABLE DEDUCTIONS pena Secton 3A) Sry ae de Ran 2. Byenasalowsblet rae ion ieee Intres octon 8 ‘Tee tion CD = Loses ton 319). Bet bb acon ef). Deprectn Seton ef). Depletion of Cand Ga Was snd is ‘Secon a . 8 eeeenenee (Chart nd she Contin ston 3) ese end Deven ection S. Perio ste Sees) = (ptonal Sand Descton non oe "mented yee eddie Premium payments oa alt and/or Hoon Testa at nda Taser (Geet sh) 2 ‘CHAPTER XIV — ALLOWANCE FOR PERSONAL TREMPTION FOR INDIVIDUAL TAXPAYERS In Geral acon (Aas mended URANO 850) Ata ncyon for Depends Beaion ST Shamenaedby RANo B08) ‘change Sets eeten3(C) — ‘mol exemption allowsble sors Sienna chop. (CHAPTER XY — TEMS Nor DEDUCTIBLE In Conse (econ 6A ane {nero nese Exchange Pape ‘sosn a). ‘CHAPTER XVI — DETERMINATION OF AMOUNT [AND RECOGNITION OF GAIN OR LOSS Computation of Gain La Section A) on Sano determing a oon fe leptin of ropery acto En Bschange of Propet Sco 4C. : Bespin a Bechange vt sin ind Assumption of by == mi ms 1% 2 ‘CUAFTEN xvi SITUS OF ESTATE| AND DONORS TAX. cutaPren xvi —esrare Tax (Gros atte ection. eae Gonptation of Nt at Bt Bo w Ssemplonof Gran Aspen asi ‘Beeson Me Determination oe Vale of he Bae Boon AS [Nedace Death tobe Fed ection). 1 Ente extn Seton Shee ant ofa Sean). uch nto oy Adie om "Rose iabity Gecton 9, = al Defaton of Dalene eet 0) 16 ‘Payment Btoe Davey by Beet or Adnan (Sesion). 1 use Cran Oca and ear Stan we “Reson af x yor Station of Ovid (Chligson (ecton 94) 180 ‘Paymertol Tex needa oe Tau Shae Bonds oe Rights Becton 97) a 10 ‘CHAPTER xIx— PONOR'S TAX Stanger vs. Relative 11 ‘Came va Sping Method i onan tony ase ptt pari or onion eS Tease for Iden Garden econ Erampton of Cen is Sian 1). i ‘iat of Cis Main Property Stan i). 6 Fling of tur and Peyrnent of foe Seton 18) 16 (CHAPTER XX— VALUE ADDED TAX Nit on ee! Goats or roprtar ton 161 Aron igor f Goode Scan 17). Es AT on Sle f Servos wn User Leas of ropes {Seton 108 1s Exempt Tanaciona Goin 15), 18 1 "Bampton = ie 2 Options walable us 3. Creole npot ta im 4 anstonall ponanpon into cai, 176 5 Retmser Ix Cofix eer 6 eldngand Asuning Ragan 7 A Tower the Commasoner io Supa the snes peraone of pay Remedi ofthe Gover 1" Noval or Oxinry sonnet ad Cait, 2 Aoteal et tary Anse Poca Avene can RN Homme ofPoen Compramine (Scion SHA — = Teme for Calton of Dengue ses (seston 25) —— ‘ejncon acon) “etl Becton 1), ‘Approval ofthe Comsindnar Secon. Sttperson othe Rurning i te Sat ol Linton acta 29 Chim oe zeind Secon), = ‘cuaprax xx—LocaLtaxaTion ‘Genera Prints ects 128190 160). ca Png Autbaty (ton 158 LOC) {Gon stedon Seton 1 LC Proving Son 34 C6) Daripaties Section 12) Payer of Sonam nes Son ih, Ss of Tx Secon 15) a ‘erangaye Season 152) Comat Keven sing Powe ‘commana ae 156). ‘CHAPTER XXI— REAL PROPERTY TAX eal Ett Te Fopr Seton 22 LG), Spel avy on featon ud ate 358, UO), Spel ev on le Land econ 236 LE) Spel Levy on Pulte Won Sato 20 LS) a EF a Sijacs of theta ‘sro Tx Seaion 0) ences he Governsert Salon 6 16). Rene othe Txpoyer Gecbon 25) nn (CHAPTER XIV — THE TARIFF AND CUSTOMS CODE Kinds of Custom Duty 1 3 Seing Baty és & Dheinitonyoretaany Buty ce Prusiarein Cosme Pte Cinna Append A ~The National Revere Coe ofthe Piippines (A. Na B24 ab amended) —— BEREGRRE BRBy | i INTRODUCTION Pialippinetaxatonisprimarly governed by four (sats: (a) Republic Act No. 8424 orthe Naina Internal Revenue Cove (SIRE) the Loaal Government Cade (ReplicAct Ne 7105 (©) Ta and Customs Code (breicentil Decne No. 1464 a mended) and (@) Court Tax Appels (CTA) epic Act Ne Sam es amande by RA.No 33) “The NIRC covers fve(S) areas of txation: Income Ta, site Tay, Donors Ty, Valse Added Tc (VAT ana Remedies User the Loaal Goverment Code ee have lo (2): Loa Taxation aust Real Property Tate However the bar examination covers only the flowing Tome Tn, Paine Tan, Donar's Tay, Baie Principles an Contitsonal Amendment, VAT, Remedies, Loa Tay Taf andthe Court of Tax Apes CHAPTER! BASIC PRINCIPLES |A. Taxation as an inhorent Power ofthe Stato In the bar amination, twas asked: What do you ean bythe nature of tation? Will your ancwer be the same If he ‘question i what do you mean bythe theory of taxation? "the power to tax i inherent in sovereignty. The moment the tate ex, dhe power to tne automatcaly exists Ar ch, Hoan be exrcsod and enforced by the State even without ny

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