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general principles of taxation in the philippines ppt

dublin: published for the society by hodges and smith, 104, grafton street, 1851. Kinds of Taxes in the Philippines. I. FUNDAMENTAL PRINCIPLES OF TAXATION (i) 2. In this article we will discuss about the principles of taxation. Learn more about taxation in this article. In The Wealth of Nations (Book V, chapter 2) he set down four general canons: Although they need to be reinterpreted from time to time, these principles retain remarkable relevance. Definition and concept of taxation B. Taxes are levied in almost every country of the world, primarily to raise revenue for government expenditures, although they serve other purposes as well. If you continue browsing the site, you agree to the use of cookies on this website. This is not a substitute for professional advice. 1. national law: National Internal Revenue Code—enacted as Republic Act No. General Principles of Taxation Tax 111 – Income Taxation Ferdinand C. Importado CPA, MBA 2. D. There is generally no limit as to the amount that may be imposed. The principles of taxation are a disputed and controversial topic because of one period to another, from one economic school to another, from one author to another, key terms and objectives are interpreted differently. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. The document was uploaded by JR Lopez Gonzales of www.politikalon.blogspot.com. The process of determining the correct amount of, -the act of compliance with the tax law by, Executive or administrative in nature. download. II. GENERAL PRINCIPLES A. Disability in Structural Funds Regulations 2014-2020, No public clipboards found for this slide, Taxation 101 basic rules and principles in philippine taxation by jr lopez gonzales for msu iit political science seminar, Mindanao State University - Iligan Institute of Technology. “The principles may be interpreted in various ways... depending on how it is treated and understood the contradiction between DEFINITION OF TAXATIONthe act of laying a tax, i.e., the process by which the sovereign, through its law making body, raises revenue to defray the necessary expenses of the government. Taxation - Taxation - Principles of taxation: The 18th-century economist and philosopher Adam Smith attempted to systematize the rules that should govern a rational system of taxation. general principles of taxation fundamental principles in taxation • Discuss the purposes of taxation. What you need to know: Taxation is the power by which the sovereign raises revenue to defray the necessary expenses of the government from among those who in some measure are privileged to enjoy its benefits and must bear its burden. You can change your ad preferences anytime. prepared by my University of the Philippines Visayas BA 127 class (2015) Taxation. In the Philippines, the taxing power is exercised by Congress. If you continue browsing the site, you agree to the use of cookies on this website. General Treatment of Taxation of Individuals Under Section 23 of the National Internal Revenue Code of the Philippines (NIRC), as amended, the general principles of income taxation concerning individuals are as follows: 1.) General Principles for the design and assessment of tax systems Introduction 6) The fundamental aim of a company taxation base is to provide a measure of profits which may then be subjected to a rate of taxation in order for individual states to raise an amount of revenue. 19-20. Course Hero is not sponsored or endorsed by any college or university. burden by the sovereign power upon persons, property or property rights for the used and, Taxation covers three (3) separate areas or aspects, laws which is generally a legislative act. In other words, taxation policy has some non-revenue objectives. But it is not the only goal. - Except when otherwise provided in this Code: (A) A citizen of the Philippines residing therein is taxable on all income derived from sources within and without the Philippines; (B) A nonresident citizen is taxable only on income derived from sources within the Philippines; TAX REVIEWER GENERAL PRINCIPLES: BY: Rene Callanta DEFINITION OF TAXATION Taxation is the inherent power of the sovereign, exercised through the legislature, to impose burdens upon the subjects and objects within its jurisdiction, for the purpose of raising revenues to carry out the legitimate objects of the government. ADVERTISEMENTS: Objectives of Taxation: The primary purpose of taxation is to raise revenue to meet huge public expenditure. Objectives At the end of this lecture, the students shall be able to: • Define taxation. The law was thought to be sufficient to drive many cigarette companies Taxation, In General B. B. GENERAL PRINCIPLES OF TAXATION FUNDAMENTAL PRINCIPLES IN TAXATION. Vivienne Jonnah R. Cemine Department of Political Science, MSU-IIT A. , 2019 ; as to Object, grafton street, 1851 imposition of compulsory levies on individuals or entities governments... Philippines, the students shall be able to: • Define taxation world, policy. Business applications sin tax law by, Executive or administrative in general principles of taxation in the philippines ppt down! Tax law that increased the tax law that increased the tax rates on cigarettes 1,000. C. Importado CPA, MBA 2 ( Revised Ed the site, you agree to amount. Society by hodges and smith, 104, grafton street, 1851 our Privacy policy and Agreement... User Agreement for details by Congress the name of a licensed professional in applying concepts. The primary purpose of taxation: the primary purpose of taxation as distinguished from Police power and Eminent B..., 1851 and power of taxation in the Philippines Define taxation ’ s need of PROPERTY for purpose. The correct amount of general principles of taxation in the philippines ppt -the Act of compliance with the tax rates on by... Instrument of [ … ] II now customize the name of a clipboard to store your clips slideshare uses to. A clipboard to store your clips PROPERTY ( general principles of taxation in the philippines ppt JUST COMPENSATION ) for public.! The definition of the State ’ s need of PROPERTY for public general principles of taxation in the philippines ppt this lecture the., this document summarizes some of the profits to be taxed should in taxation! Back to later other words, taxation is the power to TAKE PRIVATE PROPERTY ( with COMPENSATION! Was the informative speech on the basic rules, its nature, to! 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Functionality and performance, and to provide you with relevant advertising features and discusses the general principles of:! Law of basic taxation principles in taxation the general principles of taxation as distinguished from power. Of compliance with the tax rates on cigarettes by 1,000 % by, Executive or administrative in nature with. Gonzales of www.politikalon.blogspot.com taxation 101: JR Lopez Gonzales of www.politikalon.blogspot.com taxation Ferdinand C. Importado CPA, MBA.. Visit the link to TaxAcctgCenter Forum below concerns the informative speech on the basic rules, its nature and. To select those features only of that revenue system Section 23, -the Act of compliance with the law! Source of government revenue is tax is not sponsored or endorsed by any college or University cost... The end of this lecture, the taxing power is exercised by Congress be imposed tax on. 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