Syllabus

Subject Title: Philippine Tax System and Income Taxation Credit: 3 units

Subject Description: This course is designed to educate students about the concepts surrounding our tax system
and application of the provision of the Tax Code of the Philippines (including the TRAIN Law) regarding Income Tax.

Objectives: At the end of the course, the students should be able to:
1. Explain the types and classification of taxes
2. Compute for the income tax of an individual earning purely compensation, engaged in trade or commerce,
or a combination of compensation and business income.
3. Compute for the income tax of Domestic Corporations
4. Understand Basics of Corporate Income Tax
5. Compute for the Minimum Corporate Income Tax (MCIT)

Subject Outline and Time Allotment:

Sequence Topics
1 Types of taxes
2 Income tax for individuals earning purely compensation income
st
1 Periodical Examination
3 Income tax for individuals earning business income
4 Income tax for individuals with mixed income
2nd Periodical Examination
5 Corporate Income Tax basics
6 Minimum Corporate Income Tax (MCIT)
Final Examination

Reference: www.bir.gov.ph; RA 10963 (Tax Reform for Acceleration and Inclusion)

Grading System: The Final Grade is computed as follows:

FG = (1/3 x P1) + (1/3 x P2) + (1/3 x P3)
Where:
 FG refers to the Final Grade
 P1 refers to the Prelim Grade
 P2 refers to the Midterm Grade
 P3 refers to the Tentative Final Grade

The 1st Period Grade is computed as (10% x 1st Class Participation) + (1/3 x P1 Exam)
The 2nd Period Grade is computed as (10% x 2nd Class Participation) + (1/3 x P2 Exam)
The 3rd Period Grade is computed as (10% x 3rd Class Participation) + (1/3 x P3 Exam)

Contact Information (Name, Email Ad, Contact number)

Wycliffe Luther De Vera Rosales,CPA, r.wycliffeluther@yahoo.com, #09393707519