Course Syllabus in Fundamentals of Taxation

Course Title : Fundamentals of Taxation

Course Number : ACT103

Hours/Weeks : 54 hours/18 weeks

Pre-requisites : None

Course Description : This course involves a study of the basic principles of income and business taxation for non-accountancy
students. The objective is to develop a working knowledge of the basic principles and rules of the income
and business tax system as these apply to individuals, partnerships and corporations. It covers an
overview of the national tax system, and the income taxation of employees and unincorporated and
incorporated businesses. It provides the students with the basic and conceptual knowledge of income
taxation and the implications of a sound tax system. It also provides them with the appreciation of the
principles pertaining to business taxation, particularly value-added tax and percentage tax.

Values Integration :

COURSE INTENDED LEARNING TOPICS TEACHING AND ASSESSMENT

OUTCOMES (CILO) and TIME LEARNING TASK
ALLOTMENT ACTIVITIES
1. Define Taxation 1.0 Taxation MODULE PACKAGES QUIZZES
2. Describe the nature, basis and 1.1 Definition, Nature and Basis of Taxation ASSIGNMENTS
objectives of taxation 1.2 Objectives of Taxation LECTURE
3. Differentiate the three inherent 1.3 State Powers DISCUSSION
powers of the state. 1.4 Aspects of Taxation
4. Explain the Principles of a 1.5 Basic Principles of Sound Tax System
sound tax system 1.6 Situs of Taxation
5. Identify and explain
constitutional and inherent
limitations.
6. Name and describe the situs of
taxation and its application.

1. Define Tax and describe its 2.0 Taxes MODULE PACKAGES QUIZZES
essential characteristics 2.1 Definition of Tax ASSIGNMENTS
2. Identify and distinguish 2.2 Essential Characteristics of a Tax LECTURE
classification of taxes 2.3 Types of Tax Rate Structure DISCUSSION
2.4 Constitutional Provisions on Progressive System of
Taxation
2.5 Classification of Taxes

1. Have fair knowledge of the
sources of tax authority, sources
of tax laws and concept of
legislative intent
2. Describe various sources of tax
laws
3. Describe the powers of the
Commissioner of Internal
Revenue
3.0 Tax Laws MODULE PACKAGES QUIZZES
3.1 Sources of Tax Authority ASSIGNMENTS
3.2 Sources of Tax Laws LECTURE
3.3 Interpretation and Construction of Tax Statutes DISCUSSION
3.4 Philippine Tax Laws and Taxes
3.5 Internal Revenue Laws
3.6 Bureau of Internal Revenue
a. Powers and duties of the BIR
b. Powers of the Commissioner

PRELIMS EXAM

1. Distinguish between Income 4.0 Income and Income Taxes MODULE PACKAGES QUIZZES
and Capital 4.1 Income defined and Distinguished from Capital ASSIGNMENTS
2. Outline the general procedures 4.2 Income Tax Defined, Base and Nature LECTURE
in determining income tax. 4.3 General Procedures in Determining Income Tax DISCUSSION
1. Identify the individual income INDIVIDUAL TAXATION MODULE PACKAGES QUIZZES
taxpayers 5.0 Classification of Individual Taxpayers ASSIGNMENTS
2. Define the individual taxpayers 5.1 Citizen LECTURE
and the related terms used. 5.2 Resident Citizen DISCUSSION
3. Illustrate the different 5.3 Non-resident Citizen
classification of individual 5.4 Resident Alien
taxpayers. 5.5 Non-resident Alien
5.6 Non-resident Alien Engaged in Trade/Business
5.7 OCWs or OFWs

1. Identify sources of income of 6.0 Sources of Income MODULE PACKAGES QUIZZES

individual taxpayers 7.0 Definition of Gross Income ASSIGNMENTS
2. Define gross income LECTURE
DISCUSSION
1. Recognize the categories of 8.0 Graduated Tax Rates per TRAIN Law MODULE PACKAGES QUIZZES
income and know the tax rates to 9.0 Categories of Income and Tax Rates ASSIGNMENTS
be used by each type of individual 9.1 Compensation income LECTURE
taxpayers. 9.2 Business Income DISCUSSION
9.3 Mixed Income Earners
9.4 Passive Income

1. Identify the allowable 10.0 Allowable Deductions MODULE PACKAGES QUIZZES

deductions from gross income
1. Compute taxable income and
tax due depending on income
category
2. Prepare income tax returns for
individuals
10.1 Itemized Deductions ASSIGNMENTS
10.2 Optional Standard Deductions LECTURE
DISCUSSION
11.0 Taxable Income and Tax Due MODULE PACKAGES QUIZZES
11.1 Individuals Earning Purely Compensation Income ASSIGNMENTS
11.2 Self-employed individuals earning Income Purely from LECTURE
Self-employment or Practice of Profession DISCUSSION
11.3 Individuals Earning Income Both from Compensation
and from Self-Employment

12.0 Declaration of Income Tax for Individuals

MIDTERM EXAM

1. Differentiate general PARTNERSHIP TAXATION MODULE PACKAGES QUIZZES

professional and business 13.0 Partnership ASSIGNMENTS
partnerships. A. General-professional partnerships LECTURE
 B. Business partnerships DISCUSSION
2. Compute income tax due of a
partner of a general professional
partnership and a partner of a
business partnership.
1. Identify corporations. CORPORATE TAXATION MODULE PACKAGES QUIZZES
2. Classify corporations 14.0 Corporations ASSIGNMENTS
3. Identify the different tax rate 14.1 Classification (domestic and foreign) LECTURE
applicable for corporations DISCUSSION
4. Compute the tax due using the 14.2 Income taxes
different tax rates. (when A. Regular corporate income tax
applicable) B. Minimum corporate income tax
C. Optional Corporate income tax

1. Identify Concepts of VAT, its BUSINESS TAXATION MODULE PACKAGES QUIZZES

Nature and Scope 15.0 Value-added Tax ASSIGNMENTS
15.1 Concepts of Value-added tax LECTURE
A. Definition DISCUSSION
B. Scope

1. Compute VAT Payable 16.0 Basic Computations of VAT Payable MODULE PACKAGES QUIZZES
16.1 Output Tax ASSIGNMENTS
16.2 Input Tax LECTURE
16.3 VAT Payable DISCUSSION

1. Compute percentage tax from 17.0 Basic Computation of Other Percentage Taxes MODULE PACKAGES QUIZZES
VAT-exempt sales or receipts ASSIGNMENTS
LECTURE
DISCUSSION
FINAL EXAM

GRADING SYSTEM AND GRADE EQUIVALENT

A. Grading system applicable to business, accounting and professional courses except, law courses, courses with laboratory, courses with practice
set, accounting research, accounting internship and courses that require case presentation/case analysis.
PERCENTAGE DISTRIBUTION:
Major Examination 50%
Quizzes 40%
 Others* 10%
TOTAL 100%
*Others may include attendance, seat work, assignment, participation and the like
MAJOR EXAMINATIONS:
Prelim 30%
Midterm 30%
Finals 40%
Total 100%

B. Grade Equivalent
Percentage Grade Description
100-96 1.00 Excellent
95-91 1.25
90-86 1.50 Very Good
85-81 1.75
80-76 2.00 Good
75-72 2.25
71-68 2.50 Satisfactory
67-64 2.75
63-60 3.00 Passing
Below 60 5.00 Failure

INSTRUCTOR: Alma Lyn S. Miase, CPA, LPT, MBM

Email: alma.miase@msugensan.edu.ph
Student Consultation: By appointment
Mobile Number: 0966 257 8428