XI. PHILIPPINE COMPETITION ACT (R.A. No. 10667) A. Anti-Competitive Agreements - RA. No. 10667, Section 14 B. Abuse of Dominant Position ~ R.A. No. 10667, Section 15 C. Mergers and Acquisitions - R.A. No. 10667, Sections 16-22 XII PUBLIC SERVICE ACT (C.A. No. 146, as amended by R.A. No. 11659) A. Public Service as Public Utility - C.A. No. 146, as amended, Section 13 B. Critical Infrastructure - R.A. No. 11659, Section 2(e) C. Powers of the President - RA. No. 11659, Section 23 D. Reciprocity - RA. No. 11659, Section 25 XIII, NEGOTIABLE INSTRUMENTS LAW (Act No. 2031) ‘A. Requisites for Negotiability B. Form and Interpretation - Act No. 2031, Sections 1-12 C. Types of Negotiable Instruments D. Liabilities of the Parties - Act No. 2031, Sections 60-69 E, Defenses ~ Forgery, Want of Delivery, and Material Alteration F. Relationship among Drawer, Drawee, and Holder, and their corresponding rights and obligations XIV. TAXATION LAW (R.A. No. 8424, as amended by R.A. No. 10963; R.A. 11534) A. Definition, Characteristics, and Purpose B. Distinguished from Police Power and Eminent Domain C. Inherent and Constitutional Limitations D. Requisites of a Valid Tax (1987 Const, art. VI, sec. 28) E. Distinguished from Other Forms of Exactions F. Doctrines in Taxation 1. Lifeblood Theory 2. Construction and Interpretation of Tax Laws, Rules, and Regulations 3. Prospectivity of Tax Laws 4, Imprescriptibility of Taxes 5. Double Taxation 6. Escape from Taxation7. Prohibition on Compensation and Set-Off 8. Compromise and Tax Amnesty G. Income Taxation 1. Kinds of Taxpayers (R.A. No. 8424, as amended, sec. 23) 2. Income; Definition and Nature; When Taxable 3. Situs of Income Taxation (R.A. No. 8424, as amended, sec. 42) 4. Gross Income a. Definition; Concept of Income from Whatever Source Derived (R.A. No. 8424, as amended, sec. 32) b. Sources of Income Subject to Tax (R.A. No. 8424, as amended, sec. 24, RR No. 2-98, as amended) Compensation Income . Fringe Benefits Professional Income iv. Income from Business v. Income from Dealings in Property vi. Passive Investment Income vii. Annuities, Proceeds from Life Insurance or Other Types viii. Prizes and Awards ix. Pensions, Retirement Benefit, @# Separation Pay x. Capital Assets vs. Ordinary Assets (R.A. No. 8424, as amended, sec. 39-40) c. Exclusions from Gross Income (R.A. No. 8424, as amended, sec. 32(B)) d. Deductions from Gross Income (R.A. No. 8424, as amended, secs. 34, 36) i. Itemized Deductions Optional Standard Deduction Non-deductible Items 5. Taxable Individuals (R.A. No. 8424, as amended) a. Resident Citizens, Non-Resident Citizens, and Resident Aliens b. Non-Resident Aliens Engaged in Trade or Business c. Non-Resident Aliens Not Engaged in Trade or Business 6. Taxable Corporations (R.A. No. 11534) a. Domestic Corporations and Resident Foreign Corporations (R.A. No. 8424, as amended, sec. 27) i. Itemized Deductions . Optional Standard Deduction iii, Minimum Corporate Income Tax b. Non-Resident Foreign Corporations c. General Professional Partnerships H. Withholding Taxes; Concept (R.A. No. 8424, as amended, sec. 76) 1. Transfer Taxes1. Estate Tax; Basic Principles and Concepts 2. Donor’s Tax; Basic Principles and Concepts J. Value-Added Tax (VAT); (R.A. No. 8424, as amended, R.R. No. 16-2005, as amended) 1. Concept 2. Elements of VATable Transactions 3. Destination Principle and Cross-Border Doctrine 4, Transactions Deemed Sale Subject to VAT 5. Zero-Rated Transactions 6. VAT-Exempt Transactions 7. Input and Output VAT 8. VAT Refund or Credit (R.A. No. 8424, as amended, sec. 112) K. Tax Remedies 1, Government a, Assessment of Internal Revenue Taxes i, Requisites of a Valid Assessment False Returns, Fraudulent Returns, Non-Filing of Returns b. Collection of Delinquent Taxes i, Requisites ii, Civil action for Collection iii. Criminal action for Collection iv. Injunction (R.A. No. 8424, as amended, sec. 218, R.A. No. 9282, as amended, sec. 11) c. Statute of Limitations 2. Taxpayer's Remedies a. Administrative b. Judicial c. Compromise and Abatement of Taxes 4d. Refund of Tax Erroneously or Illegally Collected (R.A. No. 8424, sec. 229) 3. Civil Penalties a. Tax Delinquency, Tax Deficiency b. Surcharge 4, Compromise Penalty L. Local Taxation (R.A. No. 7160, Book I, Title 1. General Principles (R.A. No. 7160, secs. 130, 132) 2. Common Limitations on the Taxing Powers of Local Government Units (R.A. No. 7160, sec. 133) 3. Local Business Tax (R.A. No. 7160, secs. 143, 145, 146) 4. Validity of a Local Tax Ordinance (R.A. No. 7160, sec. 187) 5. Taxpayer's Remedies a, Administrative (R.A. No. 7160, sec. 195)b. Judicial c. Refund (R.A. No. 7160, sec. 196) 6. Assessment and Collection of Local Taxes (R.A. No. 7160, sec. 194) a. Remedies of Local Government Units b. Prescriptive Period cc. Injunction M. Real Property Taxation (R.A. No. 7160, Book I], Title II) 1, Fundamental Principles; Nature 2. Exemption from Real Property Tax (R.A. No. 7160, sec. 234; ) 3. Government's Remedies a. Real Property Tax Assessment b. Collection 4. Taxpayer's Remedies a. Administrative b. Judicial c. Refund N. Judicial Remedies 1, Jurisdiction of the Court of Tax Appeals (R.A. No. 1125, as amended by R.A. No. 9282, AM. No. 05-11-07-CTA, R.A. No. 11576) a. Civil Cases b. Criminal Cases c. Institution of Civil Action in Criminal Action d.Certiorari jurisdiction 2. Suspension of Collection of Taxes 3. Petition for Review on Certiorari to the SC NOTE: All Bar candidates should be guided that only laws, rules, issuances, and jurisprudence pertinent to the topics in this syllabus as of June 30, 2023 are within the coverage of the 2024 Bar Examinations. -NOTHING FOLLOWS-