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    7 BOA Updates Bacolod

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    Aldrin Salonga
    The document outlines proposed changes to taxation topics in the Philippines, shifting some weights and items between existing and proposed topics. Key changes include increasing the weights of Principles of Taxation, Transfer Taxes, VAT, and Preferential Taxation, while removing Tariffs and Customs Code and Effective Communication as topics. Several new proposed topics on taxation are also introduced including Documentary Stamps, Excise Tax, and changes to the Tax Under Local Government Code.

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    7 BOA Updates Bacolod

    Uploaded by

    Aldrin Salonga
    15 views8 pages
    The document outlines proposed changes to taxation topics in the Philippines, shifting some weights and items between existing and proposed topics. Key changes include increasing the weights of Principles of Taxation, Transfer Taxes, VAT, and Preferential Taxation, while removing Tariffs and Customs Code and Effective Communication as topics. Several new proposed topics on taxation are also introduced including Documentary Stamps, Excise Tax, and changes to the Tax Under Local Government Code.

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    The document outlines proposed changes to taxation topics in the Philippines, shifting some weights and items between existing and proposed topics. Key changes include increasing the weights of Principles of Taxation, Transfer Taxes, VAT, and Preferential Taxation, while removing Tariffs and Customs Code and Effective Communication as topics. Several new proposed topics on taxation are also introduced including Documentary Stamps, Excise Tax, and changes to the Tax Under Local Government Code.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    15 views8 pages

    7 BOA Updates Bacolod

    Uploaded by

    Aldrin Salonga
    The document outlines proposed changes to taxation topics in the Philippines, shifting some weights and items between existing and proposed topics. Key changes include increasing the weights of Principles of Taxation, Transfer Taxes, VAT, and Preferential Taxation, while removing Tariffs and Customs Code and Effective Communication as topics. Several new proposed topics on taxation are also introduced including Documentary Stamps, Excise Tax, and changes to the Tax Under Local Government Code.

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    of 8

    Changes in Taxation

    Present Proposed
    Weight Items Weight Items

    1.0 Principles of Taxation 10% 7 11.43% 8


    2.0 Tax Remedies 12.5% 9 11.43% 8

    3.0 Income Taxation 20% 14 20% 14


    4.0 Transfer Taxes 15% 10 17.14% 12
    5.0 VAT 17.5% 12 17.14% 12

    6.0 Documentary Stamps 0 0 2.85% 2


    7.0 Excise Tax 0 0 2.85% 2
    8.0 Tax Under Local Government Code 5% 4 5.73% 4
    9.0 Preferential Taxation 10% 7 11.43% 8
    10.0 Tariffs and Customs Code 5% 3 0 0
    11.0 Effective Communication 5% 4 0 0
    Total 100% 70 100% 70
    Existing Topics Proposed Topics
    (as of October 2017) (effective May 2019)

    1. Insolvency Law 1. For deletion


    2. Corporate 2. For deletion
    Rehabilitation
    (Note: Merged into one
    law – R.A. 10142 –
    Financial Rehabilitation
    and Insolvency Law)
    Existing Topics Proposed Topics
    (as of October 2017) (effective May 2019)
    9. Corporations 9. Corporations
    (with proposed new
    sub-topics)

    10. Cooperatives 4. Cooperatives


    (with additional
    proposed new sub-
    topic)
    Existing Topics Proposed Topics
    (as of October 2017) (effective May 2019)

    5. AMLA Law 5. AMLA Law


    (with proposed new sub-
    topics)
    6. New Central Bank 6. For deletion

    7. General Banking Law 7. For deletion


    Proposed topics/sub-topics
    (effective May 2019
    1. Corporations (additional/new)
    • Securities Regulation Code
    • SRC Rule 68
    • Code of Corporate Governance
    • SEC Circulars and Issuances
    2. Cooperatives (additional/new)
    • Membership
    Proposed topics/sub-topics
    (effective May 2019

    3. Data Privacy Act (new


    4. E- Commerce Act (new)
    5. AMLA (additional/new)
    • Unlawful activities
    • Covered institutions/persons
    • Powers of AMLA
    6. Ease of doing business
    NOTES:
    Topics Course

    1. Securities Regulation Laws on Business


    Code Organization
    2. SEC Circulars and Laws on Business
    Issuances Organization
    3. Cooperatives Laws on Business
    Organization
    4. SRC Rule 68 Financial Reporting
    5. Bouncing Checks Law Negotiable Instruments Law
    and Banking Laws
    6. Data Privacy Act and e- Other Commercial Laws
    commerce act
    7. Updates on Special Integrative Course
    concerns
    8. Intellectual Property Law Financing Reporting
    Thank you and
    Good day!!

    gtbaysa@gmail.com

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