Euclid S.

Lecaros
BSAIS 2
Journal

Based on my understandings on the lessons that have been provided

and tackled earlier, taxation plays a major role in shaping our society. It
has the power to control a certain state’s growth and development. As an
aspiring accountant, the lessons that have been discussed earlier had a
huge connection towards my goal on being an accountant in the future.
By understanding the fundamentals of taxation, I can utilize these
kinds of information in shaping myself to be well-aware on what effects
can taxation bring to me. Taxation is important in many ways, maybe
someday in the future when I work on some business firms, it can serve
as a guide for me to manageably organize some documents concerning
taxation.
All the information provided in this lesson is to be considered
beneficial in any aspiring accountants out there, for the reason that it not
only portrays how taxation can potentially a certain state or place but it
also provides us a path in maximizing our knowledge towards it so that
we can apply these kinds of information if we were to be accountants in
the future.
 To carry out
legitimate objects

Raise revenue

Persons, properties,
Promotion of
Privileges/rights, transactions
General Welfare, Levying
Reduction of
Imposes burdens within (Legislative)
Social Inequality,
Economic Growth its jurisdiction

Thought the senate Collection Assessment

and congress (Executive)
Secondary: Primary: (Executive)
Regulatory Revenue
Government process

Purpose Definition Aspects

TAXATION
3 Inherent Powers of
the State Theory Basis

Power of Taxation, Lifeblood Doctrine, Benefits Received,

Police Power, Power Necessity Theory Reciprocity Theory
of Eminent Domain

Similarities Distinctions

Inherent in the State. Nature, Authority, Purpose,

Persons affected, Scope, Effect,
Exist independently of the
Benefits received, Amount of
constitution although the
imposition.
conditions for their exercise may
be prescribed by the constitution.

Ways by which the state interfere

with private rights and property.

Legislative in nature and

character.

Presuppose an equivalent
compensation received, directly or
indirectly, by the persons
affected.