INTRODUCTION TO

BUSINESS
TAXATION
BUSINESS AND TRANSFER TAXATION
In life, nothing is certain but:
Change
Death
Tax
 • According to Investopedia.com ; “Business
is an organization or enterprising entity
engaged in commercial, industrial, or
BUSINES professional activities. The term business

S also refers to organized efforts and

activities of individual to produce and sell
goods and/or services for profit”
BUSINESS TAX

• Taxes imposed upon onerous

transfers such as sale, barter
or exchange.
 BUSINESS TAX

• Value-added Taxes (VAT)

• Percentage Taxes
• Excise Taxes
VALUE-ADDED
TAX (VAT)
• According to BIR: “It is a tax on
consumption levied on the sale,
barter, exchange or lease of goods or
properties and services in the
Philippines and on importation of
goods into the Philippines.”
PERCENTAG
E TAX
• According to BIR; “It is a
business tax imposed on
persons, entities, or
transactions specified
under Sections 116 to 127
of the National Internal
Revenue Code of 1997
(also known as Tax Code),
as amended, and as
required under special
laws.”
EXCISE
TAX
According to BIR; “Excise tax
is a tax on the production, sale
or consumption of a commodity
in a country.”
• Alcoholic products
• Tobacco products
• Automobile
• Petroleum products
• Sweetened beverages
• Mineral products
• Non-essential goods and services
EXCISE TAX