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Anna Mae LeronINCOME TAXATIONREVIEWER ON PRINCIPLES, INDIVIDUALS, CORPORATIONS,GROSS INCOME, DEDUCTIONSTARTED: DECEMBER26, 2019 |INCOME TAXATION [Publish Date] - Fundamental Principles of Taxation.............................................................. Contents Situs of TAXATION..................

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INCOME TAXATION REVIEWER ON PRINCIPLES, INDIVIDUALS, CORPORATIONS, GROSS INCOME, DEDUCTION

Anna Mae Leron

STARTED: DECEMBER26, 2019 |

[Publish Date]

INCOME TAXATION

Contents Fundamental Principles of Taxation...............................................................2 Situs of TAXATION.......................................................................................5 Individual Taxpayers......................................................................................8 SOURCE OF INCOME...................................................................................9 Types of Income Taxes................................................................................9 Table 2.1 – GRADUATED TAX RATE  BASIC INCOME TAX......................9 Table 2.2 – FINAL WITHHOLDING TAX  FWT PASSIVE INCOME.........10 Table 2.3 – CAPITAL GAINS TAX  CGT.................................................11 SELF-EMPLOYED and/or PROFESSIONALS (SEP)........................................12 Minimum Wage Earners...........................................................................12 BTX of MARRIED INDIVIDUALS..................................................................13 Income Tax of Senior Citizen.....................................................................13 Fringe Benefits and De Minimis (FBT).......................................................13

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INCOME TAXATION

Pr oct ect l ocal compet i t i on.

Fundamental Principles of Taxation

i ndus t r i es

I nher entPower–nat ur al /basi cpar tofev er ysover ei gns t at e. –Notgr ant edbyt hepeopl e/Const i t ut i on. 3I nher entPower s(P.E.T. ) 1.Pol i ce Power–pr omot i ngpubl i cwe l f ar ebyr es t r ai ni ng &r egul at i ngt heuseofl i ber t yandpr oper t y . * * pr oper t yt akenar edest r oyedbec ausei ti snoxi ous( har mf ult ol i vi ngt hi ngs) .

2.Emi nentDomai n –powert ot ake pr i vat e pr oper t yf or publ i cpur poseswi t hj ustcompensat i on. * * pr oc essofexpr opr i at i on.

3.PowerofTaxat i on – actofl evyi ng t ax.The powerof s t at et or ai ser evenuet odef r ayt henec essar yexpenses. * * i nvol ut ar y( c ompul sar y)

.P.I .L.E) Si mi l ar i t i es(I a.I nher ent b.St at ei nt er f er ewi t hpr i vat er i ght sandpr oper t y c. Exi s ti ndependent l yoft heconsi t ut i on d.Legi sl at i vei nnat ur eandchar ac t er e . Equi val ent c ompensat i on r ec ei ved, di r ect l y i ndi r ect l y .

or

Pur posesofTaxat i on Pr i mar yPur pose–Revenue/ Fi scalPur pose  Tor ai ser evenues /f undst ode f r aynecess aryexpenses. Secondar yPur pose  Regul at oryPur pose–devi sef orr egul at i onandc ont r ol . REP)  Compensat oryPur pose( Reduc t i onofSoci alI nequal i t y Ec onomi cGr owt h AnnaMaeS.Ler on

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INCOME TAXATION Nat ur eandChar act er i st i csofTAXATI ON ( I . L. L. T. I . P. P. S. E) 1.I nher entPower 2.Legi sl at i ve Funct i on – cannot be exer ci se by t he execut i v eorj udi ci albr anchesofgov ’ t 3.Subj ec tt oI nher entandConst i t ut i onalLi mi t at i ons 4.Ter r i t or i ali nsc ope 5.Subj ec tt oI nt er nat i onalt r eat yorcomi t y 6.ForPubl i cPur pose 7.Gener al l ypayabl ei nmoney 8.St r onge sti nher entpower 9.Exempt i on of gov’ t e nt i t i es, agenci es and i ns t r ument al i t i es–gov er nment alf unct i ons. SCOPE OFPOWER OFTAXATI ON - Mostabsol ut epower ;br oadestscope. - I n t he absence of i nher ent and const i t ut i onal l i mi t at i ons, power t o t ax i s COMPREHENSI VE, PLENARY,SUPREME,andUNLI MI TED. 1.Subj ec t /obj ectt obet axed 2.Pur pose( asl ongasf orpubl i cpur pose) 3.Amount /r at eoft het ax 4.Ki ndoft ax 5.Appor t i onmentoft ax( gener al /l i mi t edt oal ocal i t y) 6.Si t usoft axat i on 7.Mannerormet hodofcol l ect i on * * Powert ot axi ncl udespowert odest r oy. TAX – enf or ced pr opor t i onalcont r i but i ons f r om per sons & pr oper t yl evi ed by t he st at ef ort he suppor tofgov’ tand i t s publ i cneeds . E. P. P. P. L. L. ) Ess ent i alChar act er i st i csofTAX ( 1.Enf or cedc ont r i but i on 2.Pecuni ar ybur denpayabl ei nmoney AnnaMaeS.Ler on

3.ForPubl i cpur pose 4.Pr opor t i onat ei nc har act er 5.Legi sl at i veaut hor i t y 6.Levi edonper son,pr oper t y ,ore xer ci seofr i ght /pr i vi l ege Theor yofTaxat i on a.Necessi t yTheory–gov’ tcan’ tcont i nuet oser vewi t hout meanst opayi t sexpenses . b.Li f ebl ood Doct ri ne –wi t houtt axe sgov’ tcan’ texi stor endur e .I ti sani mper i ousNEED. Mane f est at i onofLi f e bl oodTheor y  NoEst oppelagai ns tt hegov’ t  Col l ec t i on of Taxe s can’ t be enj oi ned ( s t opped) by i nj uct i on –col l ect ed wi t houtunnec ess arydel ay .( bayad muna,r ef undkapagmaymal i . )

 Not subj ect t o compesat i on or se t off. – not a debt /cont r act .Gov’ tandt axpayerar enotmut ualde bt or andcr edi t orofeachot her . * * EXN:wher ebot h cl ai msar eDUE,DEMANDABLE,& FULLY LI QUI DATED.  Mayr esul tt odest r uct i onoft axpayer ’ spr oper t y  Val i dt ax=powert odest r oy  I nval i dt ax=notdest r uct i ve  Ri ghtt osel ectobj ect s/subj ect soft axat i on

Basi sofTaxat i on Benefit sPr ot ect i on Theory –r eci pr ocaldut i esof“ pr ot ec t i on andsuppor t ”  Thes t at ecol l ect st axest of unct i on.  Theci t i zenspayt axe st oenj oyt hebenefit s. Doct ri neofSymbi ot i cRel at i onshi p –Taxesar ewhatwepay f oraci vi l i z edsoci e t y . Aspect s/St agesofTAXATI ON 2

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INCOME TAXATION a.Levyi ng/I mposi t i on–passageoft axl aws b.Assess ment and Col l ect i on – actofadmi ni st r at i on & i mpl ement at i on oft ax l aws;de t er mi nat i on ofcor r ect amount c. PaymentofTax–Bur eauofI nt er nalRevenue( BI R)

2.Ast oSUBJECTMATTER a.Per sonal /Pol l /Capi t at i on – w/i n a speci fied t er r i t or y b.Pr oper t y–r eal /per sonalpr oper t y c. Exci se–exe r ci seofcer t ai nr i ght s 3.Ast oWHO BEARSTHE BURDEN a.Di r ect–cannotbeshi f t ed;t axpay eri sdi r ect l yl i abl e b.I ndi r ect–can bet r ans f er r ed/shi f t e d;t axpai d bya 1. Levying per soni ndi r ect l yl i abl e (Legilative Function) 4.Ast oDETERMI NATI ON OFAMOUNT a.Speci fic – fixed amount ( by head/number ; measur ed) b.Adval or em –fixedpr opor t i on 5.Ast oPURPOSE a.Pr i mary/Fi scal /Gener al /RevenuePur pose 3. Payment of 2. Taxes b.Secondary/Regul at or y/Speci al /Sumpt uar y Assessment Collection Pur pose (Executive Function) (Executive Function) 6.Ast oGRADUATI ON orRATE a.Pr opor t i onal–fixedper cent age;uni t ar y/si ngl er at e b.Pr ogr essi ve/Gr aduat ed –t ax r at ei ncr eases ast ax Pr i nci pl es/El ement sofSountTaxSyst em basei ncr eases c. Regr essi ve – t ax r at e i ncr eases as t ax base 1.Fi scalAdequacy –r evenuemustbe suffici entt o mee t decr ease s. gov’ texpensesandot herpubl i cneeds 7.Ast oTAXI NG AUTHORI TY/JURI SDI CTI ON/SCOPE 2.Admi ni st r at i ve Feasi bi l i t y – mus t be capabl e of a.Nat i onal conveni ent ,j us tandeffect i v eadmi ni st r at i on –f r eef r om b.Local conf usi on& uncer t ai nt y 3.Theor et i cal Just i ce – Tax bur den shoul d be LI MI TATI ONSON THE STATE’ SPOWER TO TAX pr opor t i onat et ot axpayer ’ sabi l i t yt opay. I nher entLi mi t at i ons Cl assi ficat i on ofTAXES 1.Forpubl i cpur pose( gover nment alpur pose) 1.Ast oSCOPE: Pr ocee dsmus tbeusedf or : a.Nat i onal – VAT, OPT, I ncome t ax, Document ar y  Suppor tf orgov’ t s t ampt ax,Exci seTax,Est at eandDonor ’ sTax  Recogni z edobj ectofgov’ t (V. O. I . D. E. E. D)  Topr omot et hewel f ar eoft hec ommuni t y b.Local 2.Ter r i t or i all i mi t at i on AnnaMaeS.Ler on

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INCOME TAXATION - Cannotoper at ebeyondst at e’ sj ur i sdi c t i on 3.I nt er nat i onalcomi t y/t r eat y -st at ecannott axanot hers t at e . 4.Nonde l eg abi l i t yofTaxi ngpower EXN:t onondel egat i onr ul e . ( no.2) a.Del eg at i ont ot hePr esi dent  Tar i ffr at es  I mpor tandexpor tquot as  Tonnageandwhar f agedues  Ot her dut i es or i mpos t s w/i n t he f r amewor k ofnat i onaldev’ tpr ogr am of t hegov’ t b.De l egat i ont ol ocalgov er nmentuni t s - De l egat ed - l egi sl at i ve i n nat ur e ofl ocalor di nances by t hel ocall egi sl at i vebr anch - Congr esscannotabol i shLGUspowert ot ax c. De l egat i ont oadmi ni st r at i v eagenci es - Powert oval uepr oper t y - Powert oassessandcol l ectt axes - Power t o per f or m det ai l s of comput at i on/appr ai sement /adj us t ment d.Subj ect t o i nher ent and Const i t ut i onal Li mi t at i ons 5.Exempt i on of gov ’ t ent i t i es, agenci es and i ns t r ument al i t i es a.Gover nment alf unc t i ons Taxexempt b.Pr opr i et ar yf unc t i ons subj ec tt ot ax c. GOCCSpr opr i e t ar yf unct i ons Taxexempt  GSI S  SSS  PHI C  PCSO  Localwat erdi s t r i ct s

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Const i t ut i onalLi mi t at i ons 1.Duepr ocessofl aw –r i ghtt onot i ce& hear i ng 2.Equalpr ot ect i on ofl aws–pr ohi bi t scl assl egi sl at i on w/c di scr i mi nat es agai nst someone i n f avor of anot her .  Subst ant i aldi st i nct i on  Beger manet ot hepur poseoft hel aw  Notbel i mi t e dt oexi st i ngc ondi t i onsonl y  Appl yequal l yt oal lmember soft hesamec l ass 3.Rul eofUni f or mi t yandEqui t yi nTaxat i on– 4.Pr ogr essi vesc hemeoft axat i on –emphasi son di r ect t ax * * Regr essi veSyst em ofTaxat i on–mor ei ndi r ectt axest handi r ectt axes.

5.Noni mpr i sonmentf ornonpaymentofPOLL TAX – onl ypuni shabl ebysur c har ge . 6.Noni mpai r mentofobl i gat i onsandc ont r ac t s 7.Fr ee wor shi pcl ause 8.REAL PROPERTY Tax exempt i on f or i nst i t ut i ons di r ect l yand exc l usi ve l yused f orr el i gi ous,char i t abl e andeducat i onalpur poses .–notowner shi pbutr e f er s t o excl usi ve l y asi n pr i mar i l y orsol e l y us ed f ort he sai dpur pose. 9.Tax exempt i on ofnonst ock,nonpr ofiteducat i onal i ns t i t ut i ons –r evenuesand ass et s ac t ual l y,di r ec t l y, and ex c l usi vel y exemptf r om t axe s/dut i es;subj ec tt o i nt er nalr evenuet axon i ncomef r om t r ade,busi ness orot heract i vi t y .( i ncome,pr oper t y ,donor ’ st ax and cust om dut i es ) * * Pr opr i et ar y educ at i onal i nst i t ut i ons ( nonpr ofit )– ent i t l edt oexempt i onssubjt ol i mi t at i ons. 10.Nonappr opr i at i on ofpubl i cf unds orpr oper t yf or t hebenefitofanyc hur ch,se ct ,orsyst em ofr e l i gi on 11. Nomoneyshal lbepai doutoft heTr easur yexcepti n pur suanceofanappr opr i at i onmadebyl aw.

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INCOME TAXATION 12. Concur r ence ofa maj or i t y ofALL MEMBERS OF CONGRESS f ort he passage ofa l aw gr ant i ng t ax exe mpt i on 13. Nondi ver si ficat i onoft axcol l ect i ons 14. The pr esi dent shal l have t he power t o ve t o any par t i c ul ar i t em( s) i n an appr opr i at i on, r evenue , or t ar i ff,butt hevet oshal lnotaffectt hei t em( s)t owcno obj ect i onhasbeenmade 15. Noni mpai r mentoft he j ur i sdi c t i on oft he Supr eme Cour tt or evi ew t axcases 16. Appr opr i at i ons,r ev enueort ar i ff bi l l sshal lor i gi nat e exc l usi v el yi nt heHouseofRepr ese nt at i ves butt he Senat emaypr oposeorconcurwi t hamendment s . 17. Eac h LGU shal le xer ci set hepowert ocr eat ei t sown sour c esofr evenueandshal lhav eaj ustshar ei nt he nat i onalt axes .

Fr anchi se pl acewher eexer ci sed Rec ei vabl e s domi ci l e/r e si de nceofde bt or BankDeposi t s Locat i onofdeposi t or y bank

Sour ceofi ncome;r es i dence; ci t i z enshi p I ncome Occupat i on wher eengagedi n Tr ansact i on whe r ei tt ookpl ace Busi ness Pl aceofBusi ness Resi dence/ci t i z enshi poft axpayer ;or Gr at ui t ousTr ansf er l ocat i onofpr oper t y DOUBLE TAXATI ON –di r ectdupl i cat et axat i on Taxi ngt wi ceby:

Situs of TAXATION - Pl aceoft axat i on –pl acewchasj ur i sdi c t i on t oi mpose par t i cul art ax. Fact or st oconsi deri nde t er mi ni ngsi t us a.Subj ectmat t er( per son,pr oper t y ,oract i vi t y) b.Nat ur eoft ax c. Ci t i z enshi p d.Resi denceoft het axpayer e . Sour ceofi ncome f . Pl aceofexci se,busi ness ,oroccupat i onbei ngt axed Appl i cat i on ofSi t usofTaxat i on Per son Res i denceofTaxpa RealPr oper t y Locat i on Per sonalPr oper t y Locat i on;pl aceofsal e/t r ansact i on ci l eoft heowner I nt angi bl ePer sonal Domi Pr oper t y

    

Samet axi ngaut hor i t yordi s t r i ct ;j ur i sdi c t i on Samepur pose Sameyearort axi ngper i od Samesubj ec t /obj ect Sameki nd/char act eroft het ax

TAX di st i ngui shedf r om OTHER TERMS   

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Tol l–sum ofmoneyf ort heus eofs ome t hi ng. Penal t y –sanct i on i mpose daspuni shmentf orvi ol at i on ofl aw. Speci al Ass essment s – enf or ced pr opor t i onal cont r i but i on f r om owner s ofl ands f orspeci albenefit s r esul t i ng f r om publ i ci mpr ovement s .( pr op wi t h speci al benefit s) Revenue–al lf unds/i ncomeder i vedbygov’ tf r om t axor ot hersour ce

EXN:wheni thassi t usel sewher e

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Subsi dy –pec uni ar yai ddi r ec t l ygr ant edt hegov’ tt oan i ndi vi dual /pr i vat e commer ci al e nt er pr i se deemed benefici alt ot hepubl i c Per mi t /Li cense Fee – c har ge i mposed under pol i ce powerf orpur posesofr egul at i on Debt–l i abi l i t ybasedoncont r act ,ass i gnabl e Cust om Dut i es – t axes i mposed on goods expor t ed f r om/i mpor t edi nt oacount r y Tar i ff –maybeusedi noneoft hr eesenses a.A book ofr at esdr awn usual l yi n al phabe t i cal or dercont ai ni ngt henamesofsev er alki ndsof mer chandi se dwi t hcor r es pondi ngdut i est obe pai df ort hesame b.Dut i espayabl eongoodsi mpor t ed/e xpor t ed c. Sys t em orpr i nci pl eofi mposi ngdut i eson t he i mpor t at i onofgoods.

c. Evasi on ( aka Tax dodgi ng) – unl awf ul /i l l egal /f r audul ent meanst ol es se nt axpayment . d.Tax Av oi dance ( aka t ax mi ni mi z at i on) – l egal l y per mi ss i bl e means ofr educ t i on or t al l y escapi ng t ax payment . * *mustbei ngoodf ai t handatar m’ sl engt h.

e . Capi t al i z at i on –r educt i on i n sel l i ngpr i cepr ovi ded t hat buyerwi l lshoul dert het axe s. f . Exempt i on –gr antofi mmuni t y/pr i vi l ege /f r eedom f r om payment .Wi t hc l earpr ovi si on;r easonabl ef oundat i on/ r at i onalbasi s. * *notf avor edandar ec onst r uedagai nstt het axpayer .

Gr oundsf orgr ant i ngt axexe mpt i on  Maybebasedonacont r act .  Maybebasedonsomegr oundofpubl i cpol i cy .  Maybebasedont hegr oundofr ec i pr oci t y .

* *t ar i ff and c ust om dut i esar eused i nt er c hangeabl yi nt heTar i ff and Cust omsCode

Escapef r om TAXATI ON

Nat ur eofpowert ogr antt axexe mpt i on a.Nat i onalgov’ t b.Localgov’ t Ki ndsofEXEMPTI ONS

a.Shi f t i ng – t r ansf er of t ax bur den ( not payment )t o anot her . Ex.VAT,Per cent age ,Exci se,Adv al or em ( oi lco. ) * * onl yi ndi r ec tt axesmaybeshi f t ed I mpac t–poi ntwcat axi sor i gi nal l yi mposed I nci denc e–“ “t axbur denfinal l yr est s/set t l esdown

b.Tr ansf or mat i on –manuf act ur erabsor bs t he addi t i onal t axesw/opassi ngi tt ot hebuy er sf orf earofl ostofhi s mar ke t . * * i ncr eases quant i t y pr oduc t i on, f or l ower c ost t r ansf or mi ng t he t ax i nt o gai n t hr ough t he medi um of pr oduc t i on.

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Ast oBasi s  Const i t ut i onal–or i gi nat e sf r om const i t ut i on  St at ut or y–emanat esf r om l egi sl at i on Ast oFor m  Expr ess–expr essl ygr ant e dbyst at ut e  I mpl i ed –deemedexemptast heyf al lout si det he scope.Notment i oned. Ast oExt ent  Tot al–absol ut ei mmuni t y  Par t i al – col l ec t i on of a par t of t he t ax i s di spensedwi t h 2

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INCOME TAXATION Sour cesofTAX LAWS 1.Const i t ut i on 2.TaxTr eat i esandConvent i onswi t hFor ei gnCount r i es 3.Tax Code – Nat i onalI nt er nalRev enue Code,Tar i ff and Cus t omsCode,por t i onofLocalGov’ tCode( BookI I ) 4.St at ut esand l aws–TRAI N Law,Cour tofTax Appeal s,EVATLaw,t axRe f or m actof1997 5.Pr esi dent i alDec r ees 6.Execut i veOr der s 7.Cour tDeci si ons 8.Revenuer egul at i ons( DOF) 9.Admi ni s t r at i vei ss uanceoft heBI R 10. BI R Rul i ngs 11. LocalTaxOr di nanc es 12. Spec i alLaws

b.Schedul arSyst em –di fft ypesofi ncomear esubjt odi ff set sofgr aduat ed/flati ncomet axr at es . OTHER DOCTRI NES/RULESi n Taxat i on Equi t abl e Recoupment–c l ai m f orr e f und maybeal l owed t o beuse d aspaymentf orunse t t l edt axl i abi l i t i es–i fbot ht axes ar i se f r om same t r ansact i on i n whi ch ov er paymenti s made andunder paymenti sdue Set off t axes–notsubj ectt ol egalcompensat i on Taxpayer ’ ssui t–al l owed onl yi ft heacti nvol v esadi r ectand i l l egaldi sbur sementofpubl i cf undsder i vedf r om t axat i on Taxpay er shave l oc us st andit o que st i on t heval i di t y of t axmeasur es/i l l egale xpendi t ur esofpubl i cmoney .

TAX LAWS - Notpol i t i cali nnat ur e - Ci vi lnotpenali nnat ur e - Pur pose: I mpose penal t i es f or de l i nquenci es t o compel t i mel y paymentoft axes or puni sh ev asi on or negl ectof dut y . - I N CASE OF DOUBT:Tax s t at ut es ar ec ons t r ued st r i c t l y agai nstt hegov’ tandl i ber al l yi nf avoroft het axpayer . Tax exe mpt i ons ar e const r ued s t r i c t l y agai nstt het axpayerandl i ber al l yi nf avorofgov’ t . - APPLI CATI ON:pr ospect i v ei n oper at i on,butmay oper at e r e t r oact i ve l yi fexpr essl ydec l ar edori scl ear l yt hel egi sl at i ve i nt ent . Syst em ofI NCOME TAXATI ON a.Gl obalSyst em –al li t emsar er epor t ed i n onei ncome t axr e t ur n andt heappl i cabl et axr at ei sappl i ed on t he t axbase.

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Individual Taxpayers I ndi vi dualTaxpayer s–Nat ur alper sonswi t hi ncomeder i ved f r om wi t hi nt er r i t or i alj ur i sdi c t i onofat axi ngaut hor i t y . Cl assi fic at i ons: 1.Resi dentCi t i z en( RC) 2.Nonr esi dentCi t i z en( NRC) 3.Resi dentAl i en( RA) 4.Nonr esi dentAl i en( NRA) a.Engagedi nt r ade/busi nes s( NRAETB) b.Notengagedi nt r ade/busi nes s( NRANETB) I mpor t anc eofCl assi fic at i on     

Si t usofi ncome Mannerofcomput i ngt ax Tr eat mentofcer t ai npassi vei ncomes Al l owabl ededuc t i ons Ref er encesi nt het axcode

Ci t i z ens  Bor nbybi r t hwi t hf at her /mot herasFi l i pi noci t i zens  Bor n be f or e Januar y 17, 1973 ofFi l i pi no mot herwho e l ec t s Phi l i ppi nes ci t i zenshi p upon r eac hi ng age of maj or i t y  Acqui r edci t i z enshi paf t erbi r t h( NATURALI ZED) Nonr esi dentCi t i z en  Physi calpr esence abr oad wi t h a defini t ei nt ent i on t o r esi det her ei n.

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 Leaves t he PH dur i ng t axabl e yeart or esi de abr oad – ei t her as an i mmi gr ant or f or empl oyment on a per manentbasi s orf orwor k and der i ves i nc ome f r om abr oadt hatr equi r eshi mt obephysi cal l yabr oadmostof t het i medur i ngt axabl eyear  St aysout si det hePhi l i ppi nesf or183daysormor e.  NRC who ar r i ves i nt he PH at any t i me dur i ng t he t axabl eyeart or esi deper mane nt l yshal lbeconsi der ed NRC unt i lt hedat eofhi sar r i vali nt hePH.  OFW/OCW ( Over seas Cont r act Wor ker s) – mus t be r egi s t er ed i n Phi l i ppi ne Over seas Empl oyment Admi ni st r at i on ( POEA)wi t h val i d Ov er seasEmpl oyment Cer t i ficat e . * * i nc l udesseaf ar er sandseamen * * i nc ome ear ned by OCW/OFW ar e exem...