University of Cebu-Banilad Library

Contents: Chap 1 General principles -- Chap 2 The bureau of internal revenue -- Chap 3 Items and concept of income -- 4 Fringe benefits and fringe benefits tax -- Chap 5 Exclusions from gross income -- Chap 6 Taxation of individuals -- Chap 7 Taxation of corporations -- 8 Taxation of partnerships and partners -- Chap 9 Taxation of estates and trusts -- Chap 10 Sources of income -- Chap 11 Sales or exchanges of capital assets -- Chap 12 Deductions from gross income -- Chap 12-A Expenses, interest and taxes -- Chap 12-B Losses, bad debts, depreciation and depletion -- Chap 12-C Research and development, pension trust & contributions -- Chap 13 Accounting periods and methods -- Chap 14 Withholding tax system -- Chap 15 Returns and payment of tax -- Chap 16 Surcharges, deficiency & delinquency -- Chap 17 Tax remedies -- Chap 18 The court of tax appeals.

"This edition is a product of the authors' twenty-five (25) years of handling the subject as a tax teacher, CPA reviewer, lecturer and a tax practitioner. The recent relevant issuances made by the Bureau of Internal Revenue are given rightful places in this edition, viz: Republic Act 10026: An Act Granting Income Tax Exemption to Local Water Districts by Amending Section 27(C) of the National Internal Revenue Code of 1997, As Amended, and Adding Section 289-A to the Code, for the Purpose. Revenue Regulations 2-2010: Amendments to Sections 6 and 7 of Revenue Regulations 16-2008 with respect to the determination of the Optional Standard Deduction (OSD) of the General Professional Partnerships (GPPs) and the partners thereof, as well as the manner and period of making the election to claim OSD in the Income Tax Return. Revenue Memorandum Circular 16-2010: Disclosure of election to use the Optional Standard Deduction for Taxable year 2009. This edition included in the Exercises some digested cases decided recently by the Supreme Court so that the students will be trained to analyze and answer relatively long cases as a form of mental calisthenics. The answers may be researched by the students in the internet considering that the website of the court, the title of the cases, and the case numbers are given to them for easy reference. The author is flattered with the response from accounting teachers and students, CPA reviewees and successful board examinees who have used the previous editions. It is the author's hope that this edition will receive the same acceptance and achieve the same objective which its predecessors seem to have accomplished" --Preface

Adult

Donation Biore, Christopher College of Business and Accountancy Accountancy

Text in English