Income Taxation

This introductory taxation course is an in-depth study of income taxation where students will have their initial exposure to the Philippine income tax system. The course is divided into five main topics: General Principles of Taxation, Income tax patterns, Taxes on Partnerships and Trusts, Gross Income, Fringe Benefits, and Allowable Deductions. The objective is to develop a working knowledge on basic principles and rules of the income tax system in the Philippines as they apply to individuals, partnerships and corporations. It covers an overview of national tax system, and the income taxation of employees and unincorporated and incorporated businesses. It provides the students with knowledge of capital gains tax, final tax on certain passive income and the year-end tax including minimum corporate income tax, improperly accumulated earnings tax and normal income tax of corporations and withholding taxes.