Download Full PDF Package. stream Ferdinand Pauig. << /Length 11 0 R /N 3 /Alternate /DeviceRGB /Filter /FlateDecode >> Download Full PDF Package. TAXATION 1 – Income Taxation. READ PAPER. (2.5%) (2016 BAR) SUGGESTED ANSWER: (A) Yes. Taxation is the act of levying the tax, i.e., the process or means by which the sovereign, through its law-making body, raises income to defray the necessary expenses of the government. Learn vocabulary, terms, and more with flashcards, games, and other study tools.Basic Economics, Taxation and Land Reform This blog is made in compliance with the final requirement for the subject ECON01A as part of the Final Exam for Second .Politics and Economics of Land Reform in the Philippines: . endobj a paper read before the dublin statistical society: 18th november, 1850. by w. neilson hancock, lld. It was a thirty-minute speech on the basics of the Philippine Tax system presented to the students of the Mindanao State University - Iligan Institute of Technology on … ��'��R��V��Nr�q���1�QU�P�36ü��h��7�L�=ˑ��O���7� general principles of taxation. endobj stream In this article we will discuss about the principles of taxation. Canons/Principles of Taxation By Adam Smith: Adam smith, the father of modem political economy, has laid down four principles or cannons of taxation in his famous book "Wealth of Nations". The new Duterte administration is planning to undertake a reform of the country’s tax system. . When income is taxable i. 1398 •EMINENT DOMAIN POWER. Taxation is the inherent power of the sovereign, exercised through the legislature, to impose burdens upon subjects and objects within its jurisdiction for the purpose of raising revenues to carry out the legitimate objects of government. Basic Economics With Land Reform And Taxation Pdf Download -> DOWNLOAD (Mirror #1) PDF | On Jan 1, 2010, Kerrie L. Sadiq and others published Principles of Taxation Law | Find, read and cite all the research you need on ResearchGate Taxation as distinguished from police power and power of eminent domain. endobj INCOME TAX REVIEWER AND CASE DIGESTS PAGE- 1 – MA. As the major principles of taxation in any system, it is worth taking an in-depth look at … L݇sʦ¨Æýf\8!ÀÒInrb´‘urO¾Î¯ùʜGזÔL|xsw«è7‹ÞðVŒ1(Äáù3ìæ܅–Žéþ[Ê:]n˜Â˜•fà j Ό'ÙäúCÇÊßh49\bp÷ô¦a@Á ¿—ÐxÍpOï°§àÅ&vh{A€»¹èÁÀŠ‰. national law: National Internal Revenue Code—enacted as Republic Act No. !F�K�ơ[�&�#j�%[�檊�� THREE INHERENT POWERS OF THE SOVEREIGN STATE. Secondary Purpose (Non-revenue) - to regulate. Existence of income ii. The first principle, efficiency, means that the tax system raises enough revenue to sponsor projects without burdening the economy and the system shall not become a disincentive for performance. endobj This paper provides a background to options available to the government moving forward, starting with basic principles of taxation, criteria for evaluation, tax instruments and mix of instruments. Outcomes On completion of this module the candidate should be able to: i. Constitution: Article VI, Section 28 of the Constitution states that "the rule of taxation shall be uniform and equitable" and that "Congress shall evolve a progressive system of taxation". %PDF-1.3 The first four principles are the maxims of taxation laid out by economist Adam Smith in his 1776 work, The Wealth of Nations.1 These principles… Several theories of taxation exist in public economics.Governments at all levels (national, regional and local) need to raise revenue from a variety of sources to finance public-sector expenditures.. Adam Smith in The Wealth of Nations (1776) wrote: "Such things as defending the country and maintaining the institutions of good government are of general benefit to the public. GENERAL PRINCIPLES OF TAXATION I. General Principles of Taxation. {u�zV@*����?���:#G����6���u��y���O�46�g`~����CX홙-� These principles are still considered to be the starting point of sound public finance. Law on Taxation [a] Can the CIR of the Philippines also tax the same shares? A good tax system follows the four principles of taxation. Ⱦ�h���s�2z���\�n�LA"S���dr%�,�߄l��t� •POLICE POWER. 1. Downloadable! •TAXATION POWER. ��.3\����r���Ϯ�_�Yq*���©�L��_�w�ד������+��]�e�������D��]�cI�II�OA��u�_�䩔���)3�ѩ�i�����B%a��+]3='�/�4�0C��i��U�@ёL(sYf����L�H�$�%�Y�j��gGe��Q�����n�����~5f5wug�v����5�k��֮\۹Nw]������m mH���Fˍe�n���Q�Q��`h����B�BQ�-�[l�ll��f��jۗ"^��b���O%ܒ��Y}W�����������w�vw����X�bY^�Ю�]�����W�Va[q`i�d��2���J�jGէ������{�����׿�m���>���Pk�Am�a�����꺿g_D�H��G�G��u�;��7�7�6�Ʊ�q�o���C{��P3���8!9������-?��|������gKϑ���9�w~�Bƅ��:Wt>���ҝ����ˁ��^�r�۽��U��g�9];}�}��������_�~i��m��p���㭎�}��]�/���}������.�{�^�=�}����^?�z8�h�c��' endstream Explain. A citizen of the Philippines residing therein is taxable on all income derived from … ١~b�!�g�c;��8��ׄh�r��! TAXATION TAXATION is the inherent power by which the sovereign, through its law-making body, raises revenue to defray the necessary expenses of the government. The principles of good taxation were formulated many years ago. Income a. 11 0 obj The property being a property located in the Philippines, it is subject to the Philippine estate tax irrespective of the citizenship or residence of the decedent (Sec. TAXATION LAW POWER OF TAXATION Taxation is an inherent of power of 13 0 obj supplement of the consolidated withholding tax and fringe benefits tax regulations, has been prepared by Isla Lipana & Co., the Philippine member firm of PwC, to reflect the changes introduced by most recent tax legislations and selected revenue regulations as of [Date]. The Philippines does not have a general anti-avoidance clause within its tax code. Realization and recognition of income Maybe exercised only by the government. CHAPTER 1 General Principles and Concepts of Taxation. Equality or theoretical justice . >> GENERAL PRINCIPLES OF TAXATION FUNDAMENTAL PRINCIPLES IN TAXATION. It is intended for guidance only and as such should not be regarded as a x��wTS��Ͻ7��" %�z �;HQ�I�P��&vDF)VdT�G�"cE��b� �P��QDE�݌k �5�ޚ��Y�����g�}׺ P���tX�4�X���\���X��ffG�D���=���HƳ��.�d��,�P&s���"7C$ A short summary of this paper. A tax is a compulsory payment made by individuals and companies to the govern­ment on the basis of certain well-established rules or criteria such as income earned, property owned, capital gains made or expenditure incurred (money spent) on domestic and imported articles. %��������� dublin: published for the society by hodges and smith, 104, grafton street, 1851. • Discuss the purposes of taxation. 2612 (2.5%) [b] Explain the concept of double taxation. 579. Income tax 1.