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Introduction to Taxation

Introduction to Taxation. John V. Balanquit. Objectives. After the presentation, students should be able to: Identify and distinguish the objects of taxation Explain the doctrines of taxation Explain the “ situs of taxation”. Objectives (continued).

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Introduction to Taxation

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  1. Introduction to Taxation

    John V. Balanquit
  2. Objectives After the presentation, students should be able to: Identify and distinguish the objects of taxation Explain the doctrines of taxation Explain the “situs of taxation”
  3. Objectives (continued) Identify the nature of taxes and explain the characteristics of taxes Determine the classification of taxes Distinguish taxes from other fees
  4. Objects of Taxation Persons (natural or juridical) Properties (tangible or intangible, real or personal) Excise objects (transactions, privilege, rights or interests)
  5. Doctrines of Taxation Prospectivity of tax laws Imprescriptibility of taxes Double taxation (indirect and direct) Escape from taxation (tax evasion vs tax avoidance) Equitable recoupment
  6. Doctrines of Taxation Set-off of taxes Taxpayer suit Compromise Power to build and destroy
  7. Situs of Taxation It is the “place” of taxation. It may be based on the: Nature of tax Citizenship and residence of taxpayer Source of income Place of the item subject to tax
  8. Nature of Taxes Taxes are: Obligations created by law Generally personal to the taxpayer
  9. Essential Characteristics of Taxes Enforced contributions Imposed by the legislative body Proportionate in character Payable in the form of money Imposed for the purpose of raising revenue Used for public purpose
  10. Essential Characteristics of Taxes Enforced on persons, properties or rights Commonly required to be paid in regular intervals Imposed by the sovereign state within its jurisdiction
  11. Classifications of Taxes As to Purpose Revenue/Fiscal Regulatory/Sumptuary
  12. Classifications of Taxes As to Object Personal/ Poll/ Capitation Property Excise
  13. Classifications of Taxes As to Determination of Amount Ad Valorem Specific
  14. Classifications of Taxes As to Who Bears the Burden Direct Indirect
  15. Classifications of Taxes As to Authority or Scope National (transfer taxes, income taxes, VAT, percentage taxes, excise taxes, documentary stamp tax) Local (Community tax, municipal license tax, professional tax, real estate tax)
  16. Classifications of Taxes As to Rate or Graduation Proportionate/ Flat Rate Progressive/ Graduated Mixed
  17. Other Fees Penalty Revenue Debt Toll License fee Customs duties
  18. Other Fees Subsidy Tariff Margin fee Special assessment
  19. End of Lecture.Thank You!
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