L-NU AA 30-00-01-20

LYCEUM-NORTHWSTERN UNIVERSITY
Dagupan City

COLLEGE OF BUSINESS EDUCATION

LEARNING PACKET

Course Title/Code : CAE 16 | Income Taxation Academic Year : 2020 – 2021

Name of Faculty : Judy Anne T. Ramirez, CPA Semester : First
Instructor’s Email : ramirez.judyanne.t@lyceum.edu.ph Class Schedule : MWF 4:00 – 5:00 PM
Course Credit : Lecture = 3 units Contact Number : 0966-466-7513
Prerequisite : None Online Consultation Hours : T 3:00 – 4:00 PM
Google Classroom Code : qxcjrfm

Course Description:

This introductory taxation course is primarily concerned with income taxation. Topics include the basic principles and rules of the income tax system as these
apply to individuals, partnerships and corporations. Likewise, topics also cover the income taxation of employees and unincorporated and incorporated businesses,
capital gains tax, final tax on certain passive income and the year-end tax. The course also includes special topics like the minimum corporate income tax, fringe
benefits tax, improperly accumulated earnings tax and withholding taxes.

This course is an in-depth study of income taxation where student will have their initial exposure to the Philippine income tax system. The course is divided
into five main topics: General Principles of Taxation, Income tax patterns, Taxes on Partnerships and Trusts, Gross Income, Fringe Benefits, and Allowable
Deductions. This introductory taxation course is primarily concerned with income taxation. The objective is to develop a working knowledge on basic principles and
rules of the income tax system in the Philippines as they apply to individuals, partnerships and corporations. It covers an overview of national tax system, and the
income taxation of employees and unincorporated business and incorporated businesses. It provides the student with knowledge of capital gains tax, final tax on
certain passive income and the year-end tax including minimum corporate income tax, improperly accumulated earnings tax and normal income tax of corporations
and withholding taxes.

Program Outcomes:
1. Resolve complex taxable transactions applicable to individuals, partnerships, and corporations.
2. Conduct thorough research on the rulings issued by the Commissioner to keep abreast of the recent tax laws.
3. Employ logical tax advices to legally minimize the tax due.
4. Apply knowledge and skills that will successfully implement the tax requirements to reduce compliance issues on a taxpayer and to assist the government in generating its
sources of revenue for the expenditures necessary for public purpose and improvement.
5. Confidently maintain a commitment to good corporate citizenship, social responsibility and ethical practice in performing functions as an accountant.
L-NU AA 30-00-01-20

Course Outcomes:
1. Describe the nature, basis and objective of taxation.
2. Recognize the categories of income and state the tax rates to be used by each type of individual taxpayer.
3. List the sources of passive income.
4. Define and compute taxable income and tax due.
5. State the sources of income of corporate taxpayer.
6. Compute the quarterly corporate income tax.

Introduction:

This learning packet for Income Taxation is designed to help you understand the objectives and purpose of taxation to the state, the definition, nature and basis of taxation, the
Philippine income tax system and how different income of different taxpayers are computed.

General Guidelines:

This section tells you the general guidelines for completing this learning packet. For specific guidelines and information, kindly review your student manual or your module guide
(if applicable).

1. The class code for Google Classroom specific for this course is to be given by your instructor during the class orientation.
2. Schedule properly your reading assignments and your activity accomplishments.
3. Make sure that you do things one at a time. Read the materials and watch the videos over and over until you are able to get the point of the lesson
4. You will be assessed through formative and summative methods. Kindly see requirements section at the end of this learning packet.
5. You are expected to submit your activities/ exams on the dates indicated in this learning packet. Late submission of activities/ exams will be dealt based on classroom
policies.
6. Your scores for assignments will be notified to you throughout your period of study.
7. You can learn a great deal from discussing aspects of your learning packet with others. Opinions and insights formed while discussing with other people are no less
valuable than those you form while reading books or listening to lectures. There’s nothing wrong in discussing with your classmates but it should be done before you begin your
individual activities. But when you sit down and do individual activities you are expected to work alone and not to use the work of others (in its entirety or in part) as if it is your
own.
8. The instructor checks your assignments against the work of other students and against internet sources and other published material. If you submit an assignment that
contains work that is not your own without proper referencing and claiming the work of other as your own, you are committing plagiarism. Plagiarism is a form of academic
dishonesty punishable by several guidelines (See student handbook).
9. If you have concerns, kindly communicate with your instructor using the contact information given in this learning packet.
10. If it is not possible to participate in an online discussion due to internet problems, just save your answers in a digitized format in a USB flash drive then send it thru courier
at Lyceum-Northwestern University College of Information and Computing Science, Tapuac District, Dagupan City, Pangasinan or drop it thru the designated drop-boxes at the
university.
L-NU AA 30-00-01-20

Summary of Course Content:

Unit 1 – Introductory Concepts

Introductory to Taxation
Taxes, Tax Laws, and Tax
Introduction to Income Taxation

Unit 2 – Income Recognition, Measurement and Reporting, and Taxpayer Classifications

Tax Schemes, Periods, Methods, and Reporting

Unit 3 – Special Income Taxation

Final Income Taxation
Capital Gains Taxation

Unit 4 – Regular Income Taxation

Introduction to Regular Income Taxation
Regular Income Taxation – Exclusions in Gross Income
Regular Income Taxation – Inclusions in Gross Income

Unit 5 – Special Rules on Gross Income

Compensation Income
Fringe Benefits Taxation
Dealings in Properties
Principles of Deductions
Regular Allowable Itemized Deductions
Special Allowable Itemized Deductions and Net Operating Loss Carry-Over
Optional Standard Deduction

Unit 6 – Specific Regular Tax Rules per Taxpayer Class

Individual Income Taxation
Corporate Income Taxation - Special Corporations
Corporate Income Taxation - Regular Corporations
L-NU AA 30-00-01-20

Unit 7 – Special Topics

Remedies
Compliance Requirements
Taxation under the Local Government Code
Preferential Taxation

Study Schedule (ASSURE Model)

Week Topic Learning Outcomes Activities

August 17, 2020 Class Orientation
Unit 1 – Introductory Concepts
Week 3: Topic: Introduction to Taxation
September 2, 2020
Week 5:
September 14 & 16, 2020
Join the online session using Google Meet
1. Definition of taxation. A – Analyze the Learners
2. Enumerate the theories of cost allocation. 1. Google classroom activity: Partake in the online discussion on your background and
3. Discuss the lifeblood doctrine. expectations about Introduction to Taxation. Due date: September 2, 2020, 5:00PM.
4. Enumerate the inherent powers of the State.
S – State Standards or Objectives
5. Describe the scope of taxation.
Please see topic learning outcomes
6. Understand the inherent and constitutional
limitations. S – Select Strategies
7. Analyze the stages of taxation. The following teaching strategies will be used in this topic:
8. Discuss the concept of situs of taxation. 1. Asynchronous online learning – participation in online discussion, answering guide questions
9. Enumerate various escapes from taxation. and viewing uploaded videos in Google Classroom
10. Differentiate tax amnesty from tax 2. Offline learning – reading and self-study of printed resources
condonation.
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation,2019 Edition from pages 1 to 20.
1. After reading your book you should be able to answer the following guide questions:
a. What are the theories of government cost allocation? Explain each.
b. Describe the nature, basis, and objectives of taxation.
c. Differentiate the three inherent powers of the State.
d. Explain the principles of a sound taxation system.
e. Identify and explain constitutional and inherent limitations.
f. Describe various sources of taxation laws.
g. Name and describe the situs of taxation and its application.
h. Define tax and describe its essential characteristics.
i. Identify and distinguish classification of taxes.
j. Have a fair knowledge of the sources of tax authority and the sources of tax laws.
k. Describe the powers of the Commissioner of Internal Revenue.
l. Distinguish between income and capital.
2. Attend the online class lecture on this topic on September 2, 2020 at 4:00PM-5:00PM using
Google Meet.
L-NU AA 30-00-01-20
Week 3: Topic 2: Taxes, Tax Laws and Tax Administration
September 4, 2020 1. Discuss the type of taxation laws.
2. Distinguish tax laws, revenue regulations
Week 5: and rulings.
September 14 & 16, 2020 3. Describe tax, its elements and
classifications.
4. Compare tax from similar items.
5. Understand tax system and its types.
6. Enumerate the principles of a sound tax
system.
7. Discuss how tax is administered.
8. Enumerate the powers of the Bureau of
Internal Revenue (BIR) and the
Commissioner of Internal Revenue (CIR)
and the non-delegated powers of the CIR.
9. Explain the criteria for selection of large
taxpayers.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 21 to 34.
b. Solutions of the chosen exercise problems will be presented on September 14, 2020,
5:00PM using Google Classroom.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on
September 16, 2020, 5:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion about Taxes, Tax Laws, and Tax
Administration. Due date: September 4, 2020, 5:00 PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Asynchronous online learning – participation in online discussion, answering guide questions
and viewing uploaded videos in Google Classroom
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation,2019 Edition from pages 35 to 51.
1. After reading your book you should be able to answer the following guide questions:
a. Distinguish tax law from tax exemption law.
b. Enumerate the sources of tax laws.
c. Discuss the nature of Philippine tax law.
d. Distinguish tax laws, revenue regulations, and rulings.
e. Define tax and identify its elements.
f. What are the classification of taxes?
g. Enumerate and provide examples for each classification.
h. Compare tax with revenue, license, toll, debt, special assessment, tariff, and penalty.
i. What is a tax system?
j. What are the types of a tax system?
k. Enumerate the principles of a sound tax system.
l. Provide an explanation on the principles of a sound tax system.
m. Enumerate the powers of the BIR.
n. Enumerate the non-delegated powers of the CIR.
2. Attend the online class lecture on this topic on September 4, 2020 at 4:00PM-5:00PM using
L-NU AA 30-00-01-20

Week 3: Topic 3: Introduction to Income Taxation
September 7, 2020 1. Discuss the concept of gross income.
2. Enumerate the types of income taxpayers.
Week 5: 3. Understand the general rules in income
September 14 & 16, 2020 taxation.
4. Analyze the income tax situs rules.
Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 52 to 62.
b. Solutions of the chosen exercise problems will be presented on September 14, 2020,
5:00PM using Google Classroom.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on
September 16, 2020, 5:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Introduction to Income Taxation. Due date: September 7, 2020, 5:00 PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation,2019 Edition from pages 63 to 82.
1. After reading your book you should be able to answer the following guide questions:
a. Enumerate the characteristics of gross income.
b. What are capital items considered with infinite value. Enumerate.
c. When is income considered realized? Distinguish exchange from transfer.
d. What is a complex transaction? How is it taxed?
e. What is a holding gain? Why is it exempt from taxation?
f. Compare actual receipt with constructive receipt.
g. Enumerate and explain the classifications of individual taxpayers.
h. Discuss the taxability of each class of taxpayers.
i. Explain situs. Differentiate situs from source of income.
2. Attend the online class lecture on this topic on September 7, 2020 at 4:00PM-5:00PM using
Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 83 to 99.
b. Solutions of the chosen exercise problems will be presented on September 14, 2020,
L-NU AA 30-00-01-20

5:00PM using Google Classroom.

E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on
September 16, 2020, 5:00PM.

Optional Task:
1. Review the source materials provided in Google Classroom.
Unit 2 – Income Recognition, Measurement and Reporting, and Taxpayer Classifications
Week 4: Topic 1: Income Tax Schemes, Accounting Periods, Accounting Methods and Reporting
September 9 & 11, 2020 1. Enumerate types of taxation schemes and A – Analyze the Learners
their scope. 1. Google classroom activity: Partake in the online discussion on your background and
Week 5: 2. Discuss the concept of accounting period expectations about Income Tax Schemes, Accounting Periods, Accounting Methods and
September 14 & 16, 2020 and its types. Reporting. Due date: September 9 & 11, 2020, 5:00 PM.
3. Discuss the concept of accounting methods
S – State Standards or Objectives
and their accounting procedures.
Please see topic learning outcomes
4. Enumerate the types of tax returns, their
deadline and place of filing. S – Select Strategies
The following teaching strategies will be used in this topic:
1. Asynchronous online learning – participation in online discussion, answering guide questions
and viewing uploaded videos in Google Classroom
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation,2019 Ed. from pages 100 to 123.
1. After reading your book you should be able to answer the following guide questions:
a. What are the three income taxation schemes? Briefly discuss the scope of each.
b. Discuss the nature of final income taxation.
c. What are ordinary assets? Compare them with capital assets.
d. What capital gains are subject to capital gains taxation?
e. What are the special features of regular income taxation?
f. Enumerate the instances wherein short accounting period will arise.
g. What are the tax accounting methods in reporting income? Briefly explain each.
h. What are the two types of income tax return?
2. Attend the online class lecture on this topic on September 9 & 11, 2020 at 4:00PM-5:00PM
using Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 124 to 134.
b. Solutions of the chosen exercise problems will be presented on September 14, 2020,
5:00PM using Google Classroom.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on
L-NU AA 30-00-01-20
Week 5:
Preliminary Exam
September 18, 2020
Unit 3 – Special Income Taxation
Week 6: Topic 1: Final Income Taxation
September 21 & 23, 2020
1. Understand and appreciate the features and
scope of final tax.
2. Master certain passive income subject to
final tax and their corresponding final tax
rates.
3. Master the general final tax rates on certain
non-residents and their exceptions.
4. Comprehend the other applications of the
final income tax scheme.
September 16, 2020, 5:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
Answer the 50-item exam that will be posted in the Google Classroom
Start Time: 4:00PM | Due Time: 5:00PM
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Final Income Taxation. Due date: September 21, 2020, 5:00 PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation,2019 Ed. from pages 135 to 154.
1. After reading your book you should be able to answer the following guide questions:
a. What are the features of final income taxation?
b. Explain withholding at source.
c. Enumerate the passive income subject to final tax and their corresponding tax rates.
d. What are the two types of taxpayers who are subject to final tax rates on all income from
within the Philippines?
e. What are the general tax rates applicable to each?
f. Enumerate the requisites of the tax informer’s reward.
g. Discuss the procedures and deadline in remitting the final withholding taxes.
2. Attend the online class lecture on this topic on September 21, 2020 at 4:00PM-5:00PM using
Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 155 to 166.
b. Solutions of the chosen exercise problems will be presented on September 21, 2020,
c.
5:00PM using Google Classroom.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google Classroom on September 23, 2020
at 4:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
L-NU AA 30-00-01-20
Week 6: Topic 2: Capital Gains Taxation
September 25, 2020 1. Identify and distinguish ordinary assets and
capital assets.
Week 7: 2. Recite the asset classification rules.
September 28, 2020 3. Memorize the two types of capital gains
subject to capital gains tax and their
corresponding tax rates and tax bases.
4. Master the procedural computations of the 5
and 10% capital gains tax and the 6%
capital gains tax.
5. Master the rules on wash sales and tax-free
exchanges.
6. Master the exceptions to the 6% capital
gains tax.
7. Memorize the documentary stamp tax
imposed on the sale of stocks and real
properties.
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Capital Gains Taxation. Due date: September 25, 2020, 5:00 PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation,2019 Ed. from pages 167 to 203.
1. After reading your book you should be able to answer the following guide questions:
a. What are ordinary assets and capital assets?
b. Enumerate and discuss ordinary assets and capital assets.
c. Enumerate the two types of capital assets subject to capital gains tax.
d. What are the transactions considered as “other disposition” of domestic stocks?
e. What transactions are not recorded as “other dispositions”?
f. Discuss the rules on tax basis of stocks acquired by purchase, inheritance, donation, for an
inadequate consideration, and under a tax-free exchange.
g. Enumerate the methods in costing stocks in order of priority.
h. Discuss the compliance requirements of the two-tiered capital gains tax.
i. Explain the concept of a wash sale.
j. Enumerate and discuss the tax-free exchanges.
k. What are the criteria of alternative taxation to the 6% capital gains tax?
l. Enumerate the exemption requirements to the 6% capital gains tax.
m. Discuss the nature of the 6% capital gains tax.
n. Compare the taxpayers covered by the 15% capital gains tax and the 6% capital gains tax.
2. Attend the online class lecture on this topic on September 25, 2020 at 4:00PM-5:00PM using
Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 204 to 220.
b. Solutions of the chosen exercise problems will be presented on September 25, 2020,
5:00PM using Google Classroom.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on September 28, 2020
at 4:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
L-NU AA 30-00-01-20
Unit 4: Regular Income Taxation
Week 7: Topic 1: Introduction to Regular Income Taxation
September 30, 2020
October 2, 2020
1. Discuss the scope of regular income and its A – Analyze the Learners
tax model.
2. Enumerate the features of the regular
income tax.
3. Describe the concept of inclusion and
exclusions from gross income.
4. Enumerate the types of gross income
subject to regular tax.
5. Explain the concept of deduction and
personal exemption.
6. Explain the concept of deductions compared
to personal exemptions.
7. Calculate the measurement of gross income
from employment and business and the
treatment of other income.
8. Discuss the concept of operating income or
revenue and the difference in tax
presentation of individuals and corporate
taxpayers.
9. Analyze the procedural computation of
taxable income of corporations and different
individual taxpayers.
10. Compute the regular tax for individuals and
corporations.
11. Determine the deadline of the regular tax
returns.
12. Analyze the applicability of the quarterly
filing and its deadlines.
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Introduction to Regular Income Taxation. Due date: September 30, 2020,
5:00 PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation,2019 Ed. from pages 221 to 238.
1. After reading your book you should be able to answer the following guide questions:
a. Discuss the scope of the regular income tax especially on passive income and capital
gains.
b. Enumerate the characteristics of the regular income tax.
c. What are exclusion in gross income?
d. Distinguish allowable deductions from personal exemption.
e. Demonstrate the computation of the gross income from employment and the gross income
from business or exercise of a profession.
f. How is cost of goods sold determined?
g. What are included in the cost of services?
h. What composes the compensation income of a rank and file employee and a managerial
and supervisory employee?
i. How does the tax presentation of the composition of gross income in the tax return differ
between individuals and corporate taxpayers?
j. Distinguish “other taxable income from operations” from non-operating income.
k. Distinguish revenue from sales, fees, and receipt.
l. Discuss how the taxable income of the following is determined:
 Corporate taxpayer
 Purely compensation earner
 Purely business or professional income earner
 Mixed income earner
m. Discuss the treatment of net loss from business or exercise of profession.
n. What are the deadlines of the quarterly regular income tax for individuals and corporations?
2. Attend the online class lecture on this topic on September 30, 2020 at 4:00PM-5:00PM using
Google Meet.
R – Require Learner Participation
L-NU AA 30-00-01-20
Week 8: Topic 2: Regular Income Taxation - Exclusions in Gross Income
October 5 & 7, 2020 1. Master the list of exclusions from gross
income.
2. Comprehend the exclusion conditions or
limitations of certain items of income.
3. Understand the list of entities exempt under
the NIRC and special laws.
1. Individual activity
a. Answer the exercise drills from pages 221 to 238.
b. Solutions of the chosen exercise problems will be presented on September 30, 2020,
5:00PM using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on October 2, 2020 at
4:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Regular Income Taxation – Exclusions in Gross Income. Due date: October
5, 2020, 5:00PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation,2019 Ed. from pages 249 to 263.
1. After reading your book you should be able to answer the following guide questions:
a. Enumerate the exclusions from gross income.
b. What capital items are considered with infinite value?
c. Enumerate the exclusion conditions of retirement benefits.
d. Discuss the exclusion condition of termination benefits.
e. Discuss the rules on taxation of prizes.
f. Enumerate the exclusions from gross compensation income in the determination of gross
taxable compensation income.
g. Who is a minimum wage earner?
h. Enumerate the benefits of minimum wage earners exempt from income tax.
i. What is a BMBE?
j. What are the exemption conditions of an employee trust fund?
2. Attend the online class lecture on this topic on October 5, 2020 at 4:00PM-5:00PM using
Google Meet.
R – Require Learner Participation
L-NU AA 30-00-01-20
Week 8: Topic 3: Regular Income Taxation - Inclusions in Gross Income
October 9 & 12, 2020 1. Master the NIRC list of items of gross
income subject to regular tax and their
measurement rules.
2. Knowledge of the boundary between income
subject to final tax or capital gains tax and
those subject to regular income tax.
3. Knowledge of the link between items of
exempt income and income subject to
regular income tax.
4. Comprehension of the effect of accounting
methods and situs rules on the reportable
amount of gross income.
5. Knowledge of the treatment of creditable
withholding tax.
6. Understand the treatment of income from
pass-through entities.
7. Master the rules on recoveries of past
deductions.
8. Appreciate the essence and purposes of
transfer pricing regulation.
1. Individual activity
a. Answer the exercise drills from pages 264 to 275.
b. Solutions of the chosen exercise problems will be presented on October 5, 2020, 5:00PM
using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on October 7, 2020 at
4:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Regular Income Taxation - Inclusions in Gross Income. Due date: October
9, 2020, 5:00 PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation,2019 Ed. from pages 276 to 299.
1. After reading your book you should be able to answer the following guide questions:
a. Enumerate the NIRC list of items of gross income.
b. What are the broad categories of gross income?
c. Discuss in detail the taxation of interest income. Which is subject to final tax? Which is
subject to regular income tax?
d. Discuss the treatment of gains from dealings in properties. Which gains are subject to
capital gains tax? Which gains are subject to regular income tax?
e. Discuss the taxation of dividends, prizes, and winnings.
f. Compare actual distribution and the share in the net income of the partnership. Which one
is included in the gross income of the partner?
g. Discuss the taxability of recoveries of past deductions.
h. Enumerate examples of pass-through entities. Are they taxable to final tax, capital gains
tax or regular income tax?
i. Enumerate and discuss the transfer pricing methods.
2. Attend the online class lecture on this topic on October 9, 2020 at 4:00PM-5:00PM using
Google Meet.
R – Require Learner Participation
L-NU AA 30-00-01-20
Unit 5: Special Rules on Gross Income
Week 9: Topic 1: Compensation Income
October 14 & 16, 2020
1. Understand the concept of an employer-
employee relationship.
2. Knowledge of the classifications of
employees and the tax treatment of their
compensation income and fringe benefits.
3. Master the list of employee benefits
exempted under the NIRC and special laws
and the de minimis list.
4. Knowledge of the condition for exemption of
employee benefits under treaty or
international agreements.
5. Understand the concept of “employer
convenience” rule and the “necessity of the
employer” rule.
6. Understand the conditions of exemption of a
minimum wage earner.
7. Knowledge of classification rules for items of
gross taxable compensation income.
8. Master the composition of “13th month pay
and other benefits” for rank and file
employees and managerial or supervisory
employees.
9. Comprehend the fringe benefits subject to
regular tax and fringe benefits subject to
fringe benefits tax.
1. Individual activity
a. Answer the exercise drills from pages 300 to 316.
b. Solutions of the chosen exercise problems will be presented on October 9, 2020, 5:00PM
using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on October 12, 2020 at
4:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Compensation Income. Due date: October 14, 2020, 5:00PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation, 2019 Ed. from pages 317 to 347.
1. After reading your book you should be able to answer the following guide questions:
a. Enumerate and explain the elements of an employer-employee relationship.
b. What are the types of employees as to function and taxability? Enumerate and explain.
c. Who are minimum wage earners? Enumerate their exempt benefits.
d. Demonstrate the tax model on compensation income.
e. What are the classifications of the compensation income? Discuss each.
f. Enumerate the general classes of non-taxable benefits.
g. Enumerate the list of de minimis benefits and their respective thresholds.
h. Explain the “necessity of the employer” rule and the “convenience of the employer” rule.
i. Distinguish regular compensation from supplemental compensation.
j. Enumerate and explain the components of “13th month pay and other benefits”
k. Discuss the difference in tax treatment of the “other fringe benefits” of rank and file
employees and managerial or supervisory employees.
l. Discuss the tax treatment of “13th month pay and other benefits”
2. Attend the online class lecture on this topic on October 14, 2020 at 4:00PM-5:00PM using
Google Meet.
R – Require Learner Participation
L-NU AA 30-00-01-20
Week 10:
Midterm Exam
October 19, 2020
Week 10: Topic 2: Fringe Benefit Taxation
October 21 & 23, 2020 1. Understand the nature of fringe benefits.
2. Appreciate the convenience of the employer
rule and hybrid expense.
3. Distinguish exempt benefit, partially exempt,
and fully taxable fringe benefits.
4. Understand the scope of the final fringe
benefit tax.
5. Demonstrate knowledge of the
characteristics of fringe benefits tax.
6. Understand the procedures of fringe benefit
tax computation.
7. Comprehend the general rules on monetary
value.
8. Comprehend the monetary values as
applied to actual scenarios.
9. Master the procedures for the computation
of the fringe benefit tax.
10. Demonstrate knowledge of the list of the
exempt fringe benefits.
1. Individual activity
a. Answer the exercise drills from pages 348 to 361.
b. Solutions of the chosen exercise problems will be presented on October 14, 2020, 4:00PM
using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on October 16, 2020 at
4:00PM-5:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
Answer the 50-item exam that will be posted in the Google Classroom
Start Time: 4:00 PM | Due Time: 5:00 PM
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Fringe Benefit Taxation. Due date: October 21, 2020, 5:00PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation, 2019 Ed. from pages 362 to 381.
1. After reading your book you should be able to answer the following guide questions:
a. Enumerate the components of taxable compensation income.
b. Discuss the general categories and two tax treatments of fringe benefits.
c. What types of employee benefits are subject to the fringe benefit tax?
d. Discuss the 50% rule on hybrid expenses.
e. What are the two exceptions to the 50% rule?
f. Enumerate the fringe benefits exempt from the fringe benefits tax.
g. Enumerate and discuss the characteristics of the fringe benefit tax.
h. Enumerate the procedures in computing the fringe benefit tax.
i. Discuss the general rules on monetary value.
j. List the fringe benefit tax rates and grossed-up rates for each type of taxpayer.
k. Discuss the accounting entries to record the fringe benefit expense and the fringe benefit
tax expense.
2. Attend the online class lecture on this topic on October 21, 2020 at 4:00PM-5:00PM using
Google Meet.
R – Require Learner Participation
L-NU AA 30-00-01-20
Week 10: Topic 3: Dealings in Properties
October 26, 2020 1. Distinguish capital gains subject to regular
tax from those subject to capital gains tax.
2. Understand what constitutes selling price
and the rules on tax basis.
3. Understand the tax treatment of gain or loss
on ordinary assets and other capital assets.
4. Master the rules on the measurement of the
net capital gain or loss and the rules on net
capital loss carry over.
5. Comprehend the rules on tax-free
exchanges on recognition of gain or loss and
the determination of basis of stocks received
in.
6. Master the rules on wash sales as they
relate to capital losses subject to the rules of
regular income tax.
7. Be able to interrelate the rules of regular
income tax to the rules of capital gains tax.
8. Familiarize themselves with the list of
transactions considered as exchanges.
1. Individual activity
a. Answer the exercise drills from pages 382 to 392.
b. Solutions of the chosen exercise problems will be presented on October 21, 2020, 5:00PM
using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on October 23, 2020 at
4:00PM-5:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Dealings in Properties. Due date: October 26, 2020, 5:00PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation, 2019 Ed. from pages 393 to 418.
1. After reading your book you should be able to answer the following guide questions:
a. Compare ordinary assets with capital assets.
b. Discuss the rules of taxation of gains and losses on ordinary assets and other capital
assets.
c. What is selling price?
d. Enumerate and discuss the rules on tax basis.
e. How do the rules on individual taxpayers and corporate taxpayers differ as to the
measurement of the net capital gain or loss? Explain.
f. Discuss the basis of the 50% rule on other capital assets held long-term by individuals.
g. Explain the limits on the carry-over of capital loss.
h. At what particular securities are the rules of wash sales relevant to regular income tax?
i. Discuss the rules on tax-free exchanges relevant to regular income tax.
j. Discuss how gain is recognized in tax-free exchanges and how basis is determined for the
transferor and the transferee.
k. Enumerate the transactions considered exchanges.
2. Attend the online class lecture on this topic on October 26, 2020 at 4:00PM using Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 419 to 432.
L-NU AA 30-00-01-20
Week 11: Topic 4: Principles of Deductions
October 30, 2020 1. Distinguish business expense from personal
expense.
Week 11: 2. Understand the concept of an expense and
November 2, 2020 a capital expenditure.
3. Know the accounting rules of deduction of
capital expenditure.
4. Master the different depreciation methods
and the special considerations on
deductions.
5. Understand the allocation of common
expenses between taxable and non-taxable
operations.
6. Master the general principles of deductions.
7. Familiarize the tax reporting of deductions.
8. Know the modes of claiming deductions
from gross income.
b. Solutions of the chosen exercise problems will be presented on October 26, 2020, 5:00PM
using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on October 28, 2020 at
4:00PM-5:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Principles of Deductions. Due date: October 30, 2020, 5:00PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation, 2014 Ed. from pages 418 to 439.
1. After reading your book you should be able to answer the following guide questions:
a. Distinguish a business expense and a personal expense.
b. Distinguish an expense from a capital expenditure.
c. Discuss how depreciable and non-depreciable assets are expensed.
d. Explain the inventory method for inventories and supplies.
e. Enumerate the common depreciation methods used in practice. Distinguish how
depreciation is computed under each method.
f. How are intangible assets expensed?
g. Illustrate the computation of the cost of goods manufactured and sold.
h. Discuss how repairs and asset-related acquisition costs are accounted for.
i. How does accrual expense and cash basis expense differ?
j. Enumerate and discuss the four general principles of deductions.
k. How do the terms “ordinary” and “necessary” differ?
l. When do we say an expense is actual?
m. What does “complete and completed transaction” mean?
n. Explain the matching rule.
o. Who are related parties? Enumerate.
p. What are the classifications of deductions in tax reporting?
q. How are deductions claimed? Discuss the two modes of deductions.
2. Attend the online class lecture on this topic on October 30, 2020 at 4:00PM-5:00PM using
Google Meet.
L-NU AA 30-00-01-20
Week 12: Topic 5: Regular Allowable Itemized Deductions
November 4, 2020 1. Comprehend the application of the principles
of deductions on each item of deductions.
2. Master the deduction conditions, rules and
computational procedures of each items of
deductions from gross income.
3. Master the procedures of computing foreign
tax credits.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 440 to 456.
b. Solutions of the chosen exercise problems will be presented on October 30, 2020, 5:00PM
using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on November 2, 2020 at
4:00PM-5:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Regular Allowable Itemized Deductions Regular Allowable Itemized
Deductions. Due date: November 4, 2020, 5:00PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation, 2014 Ed. from pages 457 to 486.
1. After reading your book you should be able to answer the following guide questions:
a. What are the requisites of a deductible interest?
b. Explain the arbitrage scheme and how to determine the arbitrage limit.
c. Discuss the deductibility of discount interest and the optional capitalization treatment of
interest.
d. Discuss the deductibility of taxes and enumerate the non-deductible taxes.
e. Discuss the computation of foreign tax credit.
f. Enumerate the requisites of deductible losses.
g. Enumerate the requisites of deduction of bad debt expense.
h. Discuss the special considerations on depreciation of properties.
i. Discuss the rules on depletion of wasting assets for petroleum and mining companies.
j. Discuss the requisites on deductibility of contributions. Enumerate those fully deductible
and partially deductible contributions.
k. What is the limitation on deductibility of contribution expense for corporate taxpayers and
individual taxpayers?
l. Discuss the rules on pension expense and research & development expense.
2. Attend the online class lecture on this topic on November 4, 2020 at 4:00PM-5:00PM using
L-NU AA 30-00-01-20
Week 13: Topic 6: Special Allowable Itemized Deductions and Net Operating Loss Carry-Over
November 9 & 11, 2020 1. Familiarize the special deductions allowed
under the NIRC and special laws.
2. Know the requisites and deduction rules of
the allowable special expenses.
3. Familiarize the additional deduction
incentives granted by special laws.
4. Master the measurement and carry-over
rules of Net Operating Loss Carry-Over
(NOLCO).
Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 487 to 498.
b. Solutions of the chosen exercise problems will be presented on November 4, 2020,
5:00PM using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on November 6, 2020 at
4:00PM-5:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Special Allowable Itemized Deductions and Net Operating Loss Carry-Over.
Due date: November 9, 2020, 5:00PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation, 2014 Ed. from pages 499 to 525.
1. After reading your book you should be able to answer the following guide questions:
a. Distinguish an actual expense with a deduction incentive.
b. Enumerate the special expenses allowed by the NIRC and special laws.
c. Enumerate the deduction incentives allowed by special laws.
d. Demonstrate how NOLCO is measured.
e. What are the conditions for the deductibility of NOLCO?
f. Explain the rules in the carry-over of NOLCO.
g. Is NOLCO transferrable? Explain.
2. Attend the online class lecture on this topic on November 9, 2020 at 4:00PM-5:00PM using
Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 526 to 533.
b. Solutions of the chosen exercise problems will be presented on November 9, 2020,
5:00PM using Google Meet.
L-NU AA 30-00-01-20
Week 14:
Semi-Final Exam
November 13, 2020
Week 14: Topic 7: Optional Standard Deduction
November 16 & 18, 2020 1. Understand the nature of the optional
standard deduction (OSD).
2. Know the taxpayers who can claim OSD.
3. Comprehend the concept of operating
income or revenue and a non-operating
income for individual taxpayers.
4. Master the computation of the OSD for
individual taxpayers and corporate
taxpayers.
5. Comprehend the rules of OSD for general
professional partnership and the partners.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on November 11, 2020 at
4:00PM-5:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
Answer the 60-item exam that will be posted in the Google Classroom
Start Time: 4:00PM | Due Time: 5:00PM
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Optional Standard Deduction. Due date: November 16, 2020, 5:00PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation, 2014 Ed. from pages 534 to 551.
1. After reading your book you should be able to answer the following guide questions:
a. What is optional standard discussion?
b. Who can claim PSD? Who cannot claim OSD?
c. Explain the distinction of an operating income and a non-operating income.
d. Discuss the OSD base for an individual taxpayer and the OSD base for a corporate
taxpayer.
e. Discuss the rules of OSD for a general professional partnership and the partners.
2. Attend the online class lecture on this topic on November 16, 2020 at 4:00PM-5:00PM using
Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 552 to 560.
b. Solutions of the chosen exercise problems will be presented on November 16, 2020,
5:00PM using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on November 18, 2020 at
4:00PM-5:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
L-NU AA 30-00-01-20

Unit 6: Specific Regular Tax Rules per Taxpayer Class

Week 14: Topic 1: Individual Income Taxation
November 20 & 23, 2020 1. Understand the special rules on married A – Analyze the Learners
taxpayers. 1. Google classroom activity: Partake in the online discussion on your background and
2. Comprehend and master the rules on expectations about Individual Income Taxation. Due date: November 20, 2020, 5:00PM.
personal exemptions: the basic and
S – State Standards or Objectives
additional exemption and the premium on
Please see topic learning outcomes
health insurance.
3. Understand and be able to apply the rules of S – Select Strategies
change in status. The following teaching strategies will be used in this topic:
4. Understand the rules relevant to taxable 1. Synchronous online learning – joining the online class thru Google Meet
estates and trusts. 2. Offline learning – reading and self-study of printed resources
5. Know the conditions of the substituted filing
system. U – Utilize Technology, Media and Materials
6. Know the conditions when to prepare a Read your main reference book Rex Banggawan, Income Taxation, 2014 Ed. from pages 561 to 585.
consolidated or adjustment return. 1. After reading your book you should be able to answer the following guide questions:
7. Compute estimated tax payments for a. Enumerate the classification of individual taxpayers.
individuals engaged in business. b. Discuss the rules of taxation for married individuals.
8. Understand the rules on installment payment c. What is personal exemption? Who can claim personal exemption?
of the regular tax. d. Enumerate the allowable personal exemption for individuals. Discuss the conditions of
each component of personal exemption.
e. Explain the treatment of personal exemption between separated spouses.
f. Enumerate the rules on change of status.
g. What is the allowable personal exemption to a non-resident alien not engaged in trade or
business?
h. Discuss the taxation of estates and trusts.
i. Demonstrate the consolidation of multiple trust.
j. Discuss the exemption conditions of an employee trust fund.
k. Enumerate the conditions of the substituted filing system.
l. When is consolidation or adjustment of income tax return required?
m. When and where to file and pay the regular income tax of individuals?
n. Discuss the conditions and rules of the installment payment of the regular income tax.
o. Who shall file income tax return?
p. Who are not required to file income tax return?
2. Attend the online class lecture on this topic on November 20, 2020 at 4:00PM-5:00PM using
Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 586 to 604.
b. Solutions of the chosen exercise problems will be presented on November 20, 2020,
5:00PM using Google Meet.
E – Evaluate
L-NU AA 30-00-01-20
Week 15: Topic 2: Corporate Income Taxation - Special Corporations
November 25 & 27, 2020 1. The general income tax rule for regular
corporate taxpayers.
2. The nature and types of exempt corporation.
3. The classification rule for exempt
corporation.
4. Cost and expense allocation between
exempt and taxable corporation.
5. The dominance test on private schools and
non-profit hospitals.
6. The taxation rules for FCDU/EFCDU and
offshore banking units.
7. The special rules on international carriers.
8. The different tax rates for special non-
resident foreign corporate taxpayers.
1. Answer a quiz on this topic which will be posted in Google classroom on November 23, 2020 at
4:00PM-5:00PM.
Optional Task:
2. Review the source materials provided in Google Classroom.
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Corporate Income Taxation - Special Corporations. Due date: November
25, 2020, 5:00PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation, 2014 Ed. from pages 605 to 633.
1. After reading your book you should be able to answer the following guide questions:
a. State the general income tax rules for regular types of corporations.
b. Enumerate the different types of resident foreign corporations and their corresponding tax
rates.
c. What are exempt corporations? What is their primary distinguish feature?
d. Explain the classification rule.
e. Explain the dominance test. What types of taxpayers are covered by the dominance test?
f. Discuss the taxation rules for FCDU and offshore banking units.
g. Explain the meaning of Gross Philippine billings.
h. What are the special types of non-resident foreign corporations and their tax rates?
2. Attend the online class lecture on this topic on November 25, 2020 at 4:00PM-5:00PM using
Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 634 to 644.
b. Solutions of the chosen exercise problems will be presented on November 25, 2020,
5:00PM using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on November 27, 2020 at
4:00PM-5:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
L-NU AA 30-00-01-20
Week 15:
November 30, 2020
Week 16:
December 2, 2020
Unit 6: Specific Regular Tax Rules per Taxpayer Class
Week 16: Topic 1: Remedies
December 4, 2020
Week 17:
December 7, 2020
Topic 3: Corporate Income Taxation - Regular Corporations
1. The corporate gross income tax.
2. The minimum corporate income tax (MCIT).
3. The rationale behind Improperly
Accumulated Earnings Tax (IAET) and its
relation to dividends tax.
4. The scope and computational procedures of
IAET.
5. The scope and coverage of Branch profit
remittance tax.
6. The procedural computation of Branch profit
remittance tax.
1. Determine the period of limitation upon
assessment and collection.
2. Identify the authority to compromise, abate
and refund, or credit taxes.
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Corporate Income Taxation - Special Corporations. Due date: November
30, 2020, 5:00PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation, 2014 Ed. from pages 645 to 669.
1. After reading your book you should be able to answer the following guide questions:
a. Discuss the scope and conditions of the gross income tax.
b. Discuss the scope, tax base and the timing of imposition of the MCIT.
c. What are the conditions for the suspension of the MCIT?
d. Discuss the scope and the formula of the IAET.
e. Discuss the branch profit remittance tax.
f. What corporations are subject to the branch profit remittance tax?
g. What are the transactions considered indirect remittance?
2. Attend the online class lecture on this topic on November 30, 2020 at 4:00PM-5:00PM using
Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 670 to 683.
b. Solutions of the chosen exercise problems will be presented on November 30, 2020,
5:00PM using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on December 2, 2020 at
4:00PM-5:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Remedies. Due date: December 4, 2020, 5:00PM.
S – State Standards or Objectives
L-NU AA 30-00-01-20
3. Enumerate remedies for the collection of
delinquent taxes.
4. Enumerate the remedies available to the
taxpayer.
5. Discuss the forfeiture of cash refund and of
tax credit.
Week 17: Topic 2: Compliance Requirements
December 9 & 11, 2020 1. Determine the keeping and preservation of
books of accounts.
2. Enumerate the primary registration
requirements.
3. Enumerate the financial statements to be
attached to the annual ITR.
4. Identify the steps and effects of accreditation
of tax practitioners and agents.
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Ballada, Income Taxation, 2019 Issue from pages 567 to 578.
1. After reading your book you should be able to answer the following guide questions:
a. Specify the period of limitation upon assessment and collection.
b. Discuss the instances when the Commissioner of Internal Revenue has the authority to
compromise, abate, and refund or credit taxes.
c. State the remedies for the collection of delinquent accounts.
d. Discuss the remedies of the taxpayer.
2. Attend the online class lecture on this topic on December 4, 2020 at 4:00PM-5:00PM using
Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 579 to 581.
b. Solutions of the chosen exercise problems will be presented on December 4, 2020,
5:00PM using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on December 7, 2020 at
4:00PM-5:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Compliance Requirements. Due date: December 9, 2020, 5:00PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Ballada, Income Taxation, 2019 Issue from pages 583 to 595.
1. After reading your book you should be able to answer the following guide questions:
a. Discuss the compliance requirements on keeping and preservation of books of accounts,
L-NU AA 30-00-01-20
Week 18: Topic 3: Preferential Taxation & Comparison of TRAIN Law and NIRC of 1997
December 14 & 16, 2020 1. Enumerate the special laws.
2. Distinguish the amendments on NIRC of
1997.
3. Discuss the amendments in TRAIN Law.
primary registration, printing and issuance of receipts/sales invoices.
b. State the financial statements to be attached to the annual ITR.
c. Detail the persons who need to be accredited as tax practitioners and agents.
2. Attend the online class lecture on this topic on December 9, 2020 at 4:00PM-5:00PM using
Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 597 to 598.
b. Solutions of the chosen exercise problems will be presented on December 9, 2020,
5:00PM using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on December 11, 2020 at
4:00PM-5:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Preferential Taxation & Comparison of TRAIN Law and NIRC of 1997. Due
date: December 14, 2020, 5:00PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Asynchronous online learning – participation in online discussion, answering guide questions
and viewing suggested videos in YouTube
2. Synchronous online learning – joining the online class thru Google Meet
3. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your additional references to be provided in Google Classroom.
1. After reading your book you should be able to answer the following guide questions:
a. Discuss the Senior Citizens’ Law.
b. Discuss the Magna Carta for Disabled Persons.
c. Discuss the Special Economic Zone Act.
d. Discuss the Barangay Micro Business Enterprises Act.
e. Identify the amendments on Tax Reform for Acceleration and Inclusion.
2. Attend the online class lecture on this topic on December 14, 2020 at 4:00PM-5:00PM using
Google Meet.
R – Require Learner Participation
L-NU AA 30-00-01-20

1. Individual activity
a. Answer the exercise drills.
b. Solutions of the chosen exercise problems will be presented on December 9, 2020,
5:00PM using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on December 11, 2020 at
4:00PM-5:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.

Week 18: Answer the 60-item exam that will be posted in the Google Classroom
Final Exam
December 18, 2020 Start Time: 4:00PM | Due Time: 5:00PM

COURSE REQUIREMENTS:
Formative Assessment Methods:
Subject Portfolio about Every Activities each meeting
Activities indicated in the “Analysis” part of the module
Informal class recitations

Summative Assessment Methods:

Quizzes, Unit test, Recitation, Online Synchronous and Asynchronous Activities, Periodic Examinations
Note: Rubrics for each class work will be given by your instructor during the briefing before the activity.

GRADING SYSTEM:
Semestral Grade = (Prelim Grade*25%) + (Midterm Grade*25%) + (Semi-Final Grade*25%) + (Final Grade*25%)
For every grading period:
Periodic Exam – 40%
Student Course Work – 60% (Recitation 25%, Quizzes 25%, Requirements 20%, Attendance 10%, Assignment 20%)
In order to earn a passing grade, the student should get a transmuted grade of 75%

BIBLIOGRAPHY:
Main Reference:
Rex Banggawan, Income Taxation, 2019 Issue

Additional References:
Ballada, Income Taxation,2019 Issue-17th Edition
Preferential Taxation by Anna Mae Sanchez (https://www.scribd.com/document/361181814/Preferential-Taxation)
L-NU AA 30-00-01-20

RA 10963: Tax Reform for Acceleration and Inclusion (TRAIN) by Atty. Randy B. Blaza, CPA, MBA (https://www.scribd.com/presentation/408717375/Train-Law-Taxation)

Prepared by: Recommended by: Approved by:

JUDY ANNE T. RAMIREZ, CPA DR. GENOVEVA Y. REYES, CPA, FRIAcc DR. MARINA O. ABELLA
Instructor Dean Vice-President, Academic Affairs