Taxation- Part 2

Anndrea S. Galupo · 22問 · 1年前

通報

問題一覧

What are the sources of Tax Authorities?

EXECUTIVE, LEGISLATIVE AND JUDICIAL/JUDICIARY

President and his Administration

EXECUTIVE

the department that includes Bureau of Internal Revenue.

DEPARTMENT OF FINANCE

The Congress (Senate and House of Representatives)

LEGISLATIVE

Court of Justice

JUDICIAL/ JUDICIARY

Revenue regulation

MACRO

Revenue Rulings

MICRO

administrative interpretations of the statutes enacted by the Congress and tend to be somewhat more detailed than the code itself.

REVENUE REGULATION

occurs when the BIR and taxpayers are unable to agree on what constitutes the correct application of the tax authorities to specific situations.

COURT DECISION

The purpose of it is to avoid or minimize double taxation

TREATIES OR INTERNATIONAL AGREEMENTS

What are the 3 elements of Tax laws?

THE CODE, REGULATIONS AND RULINGS, AND THE COURT DECISIONS

expanded Jurisdiction of the Court of tax Appeals (CTA). This law took effect on Apr. 22, 2024. It amended R.A. 1125 (the law creating the CTA).

REPUBLIC ACT 9282

has exclusive original jurisdiction over all criminal offenses arising from violations of the NIRC and other laws administered by the BIR where the principal amount of taxes and fees (exclusive of charges and penalties) claimed is 1 million and above

COURT OF TAX APPEALS

Philippine Tax Laws and Taxes includes;

NATIONAL INTERNAL REVENUE CODE OF 1997, TARIFF AND CUSTOMS CODE OF 1978 AND LOCAL GOVERNMENT CODE OF 1991

a. income taxes (individual and corporate); b. estate and donor’s taxes; c. value-added tax; d. other percentage tax; e. excise tax; and f. documentary stamp These are taxes under what?

NATIONAL INTERNAL REVENUE CODE OF 1997

a. import duties; and b. export duties These are taxes under what?

TARIFFS AND CUSTOMS CODE OF 1978

a. real property tax; b. business tax, fees and charges; c. professional tax; d. community tax; e. tax on banks and other financial institutions. these are taxes under what?

LOCAL GOVERNMENT CODE OF 1991

motor vehicle fees

MOTOR VEHICLE LAW

private motor vehicle tax

PRIVATE MOTOR VEHICLE TAX LAW

immigration tax

PHILIPPINE IMMIGRATION ACT OF 1940

travel tax

TRAVEL TAX LAW

True or False: All returns required to be filed by the Tax Code shall be prepared always in conformity with the provisions of the Tax Code, and the rules and regulations issued implementing said Tax Code

TRUE

True or False: In case a difference between provision of Tax Codes and GAAP/GAAS occurred, GAAP/GAAS shall prevail (Revenue Memorandum Circular 22-04, Apr. 12, 2004)

FALSE

It is a law passed for the purpose of authorizing the levy and collection of taxes in some form to raise revenue.

REVENUE LAW

True or False: Internal revenue laws are either political or penal in nature although there are penalties in case of violations.

FALSE

True or False: Tax laws are civil in nature

TRUE

True or False: The first Philippine Internal Revenue Law, patterned after that existing in the United States, was approved by the Philippine Commission on July 2, 1904 as Act 1189 effective Aug. 4, 1904.

TRUE

functions under the supervision and control of the Department of Finance (DOF). The Bureau was created by Commonwealth Act 466, approved by the National Assembly on June 15, 1939 effective July 1, 1939, which revised and codified the then internal revenue laws of the Philippines.

BUREAU OF INTERNAL REVENUE (BIR)

True or False: mission of the BIR is to “collect taxes efficiently and effectively, for and at the least cost to the government, through partial and inconsistent enforcement of internal revenue laws, and inconvenient and dishonest service to taxpayers. ”

FALSE

under this system, the taxpayer calculates the tax by himself or through an accountant, fills up his tax return, files it with the proper tax office, and pays the tax due thereon upon tax filing.

SELF ASSESSMENT SYSTEM

Methods of collection includes:

VOLUNTARY COMPLIANCE (VOLUNTARY PAYMENT) AND COLLECTION BY ENFORCEMENT

act of tendering payment of the self-assessed tax

VOLUNTARY COMPLIANCE (VOLUNTARY PAYMENT)

identification of sectors of business or industries, and/or economic segments of economic activities where the degree of compliance is low, and the subsequent audit or investigation of enterprises and companies that are part of these selected industries.

COLLECTION BY ENFORCEMENT

BIR ISSUANCES AND RULINGS DEFINED (state the 4)

RRs, RMCs, RMOs and RMRs

issuances that specify, prescribe or define rules and regulations for the effective enforcement of the provisions of National Internal Revenue Code (NIRC) and related statutes.

REVENUE REGULATIONS (RRs)

issuances that publish pertinent and applicable portions, as well as amplifications, of laws, rules and regulations and precedents issued by the BIR and other agencies/offices.

REVENUE MEMORANDUM CIRCULARS (RMCs)

are issuances that provide directives or instructions, prescribe guidelines, and outline processes operations, activities and workflows, methods and procedure necessary in the implementation of stated policies, goals objectives, plans and programs of the Bureau in all area of operations, except auditing.

REVENUE MEMORANDUM ORDERS (RMOs)

opinions and interpretations of the commissioner of Internal Revenue with respect to the provisions of the Tax Codes and other Tax Laws, as applied to a specific set of facts, with or without established precedents, and which the Commissioner may issue from time to time for the purpose of providing taxpayers guidance on the tax consequences in specific situations. BIR rulings therefore, cannot contravene duly issued RMRs; otherwise Rulings are null and void ab initio.

REVENUE MEMORANDUM RULINGS (RMRs)

True or False: BIR rulings therefore, can contravene duly issued RMRs; otherwise Rulings are null and void ab initio.

FALSE

These are official positions of the BIR on inquiries of taxpayers, who request clarification on certain provisions of the Tax Code, other tax laws, or their implementing regulations, usually seeking for tax exemptions. Rulings are based on particular facts and circumstances presented and are interpretations of the law at a specific point in time.

BIR RULINGS

refer to periodic issuances, notices and official announcements of the Commissioner of Internal Revenue.

REVENUE BULLETINS (RBs)

True or False: The chief officials of the Bureau are the Commissioner and seven (6) Deputy Commissioners.

FALSE

in a broader sense, means all wealth, which flows into taxpayer other than a mere return of capital. It is the return in money from one’s business, labor, or capital invested.

INCOME (SERVICE OF WEALTH)

is a fund or property existing at one distinct point of time.

CAPITAL (WEALTH)

is a tax on all yearly profits arising from property, profession, trade or business, or is a tax on a person’s income, emoluments, profits and the like. generally regarded as an excise (privilege) tax. It is not levied upon persons, property, funds or profits as such but upon the right of a person to receive income or profits.

INCOME TAX

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