Includes bibliographical references and index.

Chapter 1: Introduction to business taxes

Concept and nature of business

Requisites of business activity

When is an activity engaged in business

Exceptions

Classification of business entities

Concept and nature of business taxes

Kinds of business tax

Coverage of value-added tax

Coverage of percentage tax

Coverage of excise tax

Registration of persons/businesses

Stages of primary registration

Application and issuance of TIN

General rules

Persons who are required to or may secure TIN

Exempted from TIN requirement

Denial of TIN application and/or registration

Documents that require TIN

Registration of business

Persons required to register

Prescribed period of registration

Annual registration fee

Exempted from TIN requirement

Place of filling the registration form

Registration of each type of internal revenue tax

Registration of each type of business entities with branches

Registration of tax type of large taxprayer

Cancellation of registration

Cancellation of TIN

Cancellation of business registration

Penalty of business registration

Chapter 2: Introduction to value-added tax

Concept and nature of value added tax

Persons liable to VAT

Features of VAT

Brief historical background of VAT system

Tax rates

Tax base

Value-Added tax formula

Creditable input tax

Guidelines on VAT transactions

Tax payers required to register under VAT

Effects of failure to register as VAT taxpayer

Tax payer exempt from VAT

Optional registration in VAT

Effects of optional registration under VAT

Filling of VAT returns

Chapter 3: VAT on sale of goods or properties

Value-added tax on sale of goods or properties

Requisites for sale of goods or properties subject to 12% VAT

Meaning of goods or properties

Tax rates and tax bases

Meaning of "Gross selling price" in sale of goods or properties other than sale of real properties by real estate dealer

Allowable deductions from Gross selling price

Requisites for allowable deductions from gross selling price

Formula to compare gross selling price

Transactions Deemed sale

Determination of tax base under transactions deemed sale

Guidelines to determine output tax for transaction deemed sale

Zero rated transactions

Zero rated sale of goods

Zero rated of services

Tax procedures in handling zero rated trnasactions

Zero rated sale of goods

Export sale under the concept of zero rated transactions

Foreign currency denominated sale

Sale to person/entities deemed tax exempt under special laws or international agreement

Considered export sale under executive order no.226

Effectively zero rated sale of good properties

Transactions Exempt from VAT

Tax effects of VAT exempt transactions

Value added tax formula

Output value added tax

Input value added tax

Basic pointers in handling input tax

Persons allowed for creditable input tax

Determination of creditable input tax

Formula to compare creditable input tax

Creditable input tax

Input tax on local purchases of goods

Input tax on importation

Transitional input tax

Presumptive input tax

Input tax on capital goods

Sale of real properties

Exempt sale of real properties from VAT

Meaning of "Gross selling price"in sale of real property subject to VAT

Mode of selling real estate properties

Cash and deferred payment sale of real properties

Installment sales of real properties

Withholding of value- added tax

Withholding of VAT at 5% tax rate

Withholding of VAT at 12% tax rate

Input tax on mixed transactions

Business with VAT and Non- VAT transactions

change or cessation of status as VAT- registered person

Change subject to output tax

change not subject to output tax

Computation of monthly and quarterly VAT

Chapter 4: VAT on sale of services and importation

Value- added tax on sale of services and use or lease properties

Meaning of ''sale or exchange services''

Requisites for sale of services or lease of properties to be subject to 12% output VAT

Tax rates and tax base

Meaning of ''gross receipts''

Constructive receipt of cash

Instances of constructive receipt

Zero- related sale of services

Rules on selected services subject to VAT

Lessor of property

Warehousing service

Miller

Common carrier not subject to percentage tax

Sale of electricity

Dealers in securities and lending investors

Services of franchise grantees

Non- life insurance companies

Pre- need companies

Health maintenance organizations

Value- added tax on importation of goods

Tax rates and tax bases

Other charges prior to release formula to compute VAT on importation

Sale, transfer, or exchange of imported goods by tax -exempt persons

Advance payment of value - added tax

Sale of refined sugar

Sale of flour

Transport of naturally grown and planted timber products

Invoicing requirements

Invoicing and recording transaction deemed sale

Issuing erroneous VAT invoice or VAT official receipt

Chapter 5: Percentage tax

Concept and nature of percentage tax

Tax base

What are gross receipts?

Optional registration

Businesses subject to percentage tax

Persons exempt from value-added tax

Domestic carriers and keepers of garages

Persons to common carrier tax

Persons not subject to common carrier tax

Tax rates

Minimum amount for domestic common carrier

International air shipping carriers

Franchise tax

Persons subject franchise tax

tax bases and tax rates

Overseas communication tax

Exemption from overseas communication tax

Tax on banks and non-banks financial intermediaries

Shortened maturity period through pre-termination

Determination of net trading gain

Gross receipts under finance lease and operating lease

Tax on other non-bank financial intermediaries

Tax on life insurance companies

Insurance companies subject to VAT

Life insurance companies exempted from percentage tax

Tax on agents of foreign insurance companies

Amusement places

Meaning of gross receipts

Exempt Boxing exhibition

Payment of amusement tax

Tax on winnings

Manner of tax payment

Sale of shares of stock

Persons liable to the tax

Shares of stock sold through IPO

Person liable to pay the tax

Follow-on/follow-through sale

Time and manner of payment of tax through IPO

Withholding percentage tax

Entities subject to 5% withholding tax

Payment of taxes withheld and percentage taxes

Chapter 6: Introduction to transfer taxes

Concept and nature of transfer taxes

Onerous transfer of property

Gratuitous transfer of property

Similarities between donor's tax and estate tax

Donor's tax

Estate Tax

Concept of succession

Elements of succession

Kinds of successors (Heirs)

Classification of successors

Kinds of Succession

Testamentary succession

Nature of testamentary succession

Distribution of the net estate in testamentary succesion

Forms of the will

Intestate or legal succession

Mixed succession

Concept of disinheritance

Causes of disinheritance of children and descendants

Causes of disinheritance of parents and ascendants

Concept of repudiation of inheritance

Duties of certain officers

Chapter 7: Estate Tax - Gross Estate and Property Relation

Concept and nature of estate tax

Classification of decedent

Gross estate

Properties physically present in the estate

Resident or citizen of the philippines

Non-resident alien

Properties not physically present in the estate

Transfer in contemplation of death

Revocable transfer

Transfer under general power of appointment

Proceeds of life insurance with revocable life insurance policy

Interest accruing to decedent at the time of death

Claims against insolvent person

transfer of insufficient consideration

Amount received by heirs under R.A. 4917

Exempted from estate tax

merger of the usufruct and owner of the naked title

Transmission of legacy by the fiduciary heir to the fideicommissary

Transmission from the first heir in favor of another beneficiary in accordance with the desire of the predecessor

Transfer to social welfare, cultural, and charitbale institutions

Valuation of properties in gross estate

Property Relationship of spouses

Conjugal partnership of gains (CPOG)

Exclusive properties of spouses in CPOG

Conjugal properties of spouses in CPOG

Absolute Community of properties (ACOP)

Exclusive properties of spouse in ACOP

Conjugal properties of spouses in ACOP

Complete separation of property

Chapter 8: Estate tax:deduction and NET estate

Concept of deduction

Deduction from gross estate of resident or citizen decedant

Ordinary deduction

Funeral expenses

Judicial expenses

Claims against the estate

Claims against insolvent persons

Unpaid mortgages

Losses

Transfer for public use

Vanishing deduction

Especial deduction

Family home

Standard deduction

Medical expenses

Amount received under R.A.no.4917

Share of the surviving spouse

Net taxable estate

Estate tax due

Table on estate tax rate

Net distributable estate

Decedent with more illegitimate children than legitimate

Deductions from gross estate of a non- resident alien

Tax credit for foreign estate tax

Decedants entitled to tax credit

Limitation of estate tax credit

Tax credit formula and procedures

Filing and payment of estate tax return

Notice of death to be filed

Requirements of estate tax return

Extension of time of filing

Place of filing the estate tax return

Time of payment of estate tax

Extension of time payment of tax

Liability for payment of estate tax

Chapter 9: Donor's tax

Concept and nature of donor's tax

Purposes of donor's tax

Kinds of donation

Donatio inter vivos

Donatio mortis causa

Classification of donor'

Elements of donation

Without Consideration

Period and object of donation

Formalities of donation

Delivery of the gift

acceptance of the gift

Gross gift

Intangible perosnal properties located in the philippines

Other forms of donation

Cancellation of debt

Transfer for insufficient consideration

Donation exempted from donor's tax

Donation of married individuals

Valuation of gifts

Deduction from gross gifts

Donor is a resident or citizen

Donor is non-resident alien

Other deduction from gross gift

Deductions of husband and wife

Net Taxable gift

Dowries on account of marriage

Encumbrance assumed bye the donee

Diminution of gifts as provided by the donor

Donation to national government

Donation to a non-profit organization

Tax rates of donor's tax

Tax payable by donor if donee is a stranger

Tax credit on foreign Donor's tax paid

Amount deductible as tax credit

Filing of return and payment of donor's tax

Chapter 10: Community tax

Concept and nature of community tax

Classification of taxpayers subject to community tax

Individuals required to pay community tax

Individuals exempted from community tax

Components of community tax

Amount of basic community tax

Additional community tax

Optional community tax

Place of payment of community tax

Time of payment of community tax

Penalties for failure to pay the community tax