CENTRO ESCOLAR UNIVERSITY

Manila*Makati*Malolos

SYLLABUS ON PCAC107 - INCOME TAXATION

Course Number : PCAC107 Course Descriptive Title : Income Taxation
No of Units : 3 No of Hours per Week : 3
Pre-requisites : None
CEU VISION – MISSION STATEMENT CENTRO ESCOLAR EXPECTED SCHOOL OF ACCOUNTANCY AND
MANAGEMENT
UNIVERSITY PHILOSPHY
GRADUATE ATTRIBUTES (CEEGA)
Ciencia y Virtud ( Science and Virtue) LIFELONG LEARNER MISSION STATEMENT:
•Learns and works independently as well as collaboratively.
•Translates knowledge generated from research and other sources to
UNIVERSITY VISION
improve quality of life. The School of Accountancy and Management is dedicated
To be the University of First choice •Creates new ideas to better understand society to a tradition of commitment towards the formation of
•Evaluates own thinking, behavior and spirituality for self-growth competent, socially –responsible, spiritually- integrated,
REFLECTIVE AND CREATIVE THINKER and globally competitive accountants and business
UNIVERSITY MISSION
•Thinks critically and creatively. professionals.
•Open-minded.
To promote a brighter future for our students, for the
Philippines and for the world. •Solves problems systematically.
•Loves art and shows artistic sensibility.
CARING AND TRUSTWORTHY CITIZEN
CEU CORE VALUES VISION:
•Values people and acts in unity with others.
•Commits to social justice and principles of sustainability and respect for
V - Valuing others, caring for them and empowering them
diversity.
A - Accountability, integrity and trust worthiness Total Quality Education for Global Accountants and
L - Lifelong learning as individuals and as an organization •Practices good stewardship and accountability.
•Manifests social responsibility by helping improve conditions of those Business Professionals
U - Unity, teamwork and loyalty
who have less in life or circumstance.
E - Excellence in all endeavors
S - Social responsibility as citizens of the Filipino nation and PROFICIENT COMMUNICATOR
•Articulates ideas clearly for varied purposes and audiences of diverse
of the world
culture.
•Listens attentively, engages in meaningful exchange and shares
knowledge, values, attitudes and intentions.
•Utilizes effectively appropriate media and information technologies.
COMPETENT AND PRODUCTIVE PROFESSIONAL
•Initiates, innovates better ways of doing things and accountability.
•Promotes quality and productivity.
 BSA PROGRAM OUTCOMES:

The graduates of Bachelor of Science in Accountancy should be able to:

 resolve business issues and problems, with a global and strategic perspective using knowledge and technical proficiency in areas of
financial accounting and reporting, cost accounting and management accounting and control, taxation and accounting information systems;

 conduct accountancy research through independent studies of relevant literature and appropriate use of accounting theory and
methodologies;

 employ technology as a business tool in capturing financial and non-financial information, generating reports and making decisions;

 apply knowledge and skills to successfully respond to various types of assessments (including professional licensure and examinations);
and

 confidently maintain a commitment to good corporate citizenship, social responsibility and ethical practice in performing functions as an
accountant.

Course Intended Learning Outcomes:

1. Cognitive Objective
 Understand the nature and principles of income taxation
 Know the classification of individual taxpayers, corporation, partnership and estate and sound system of taxation.
 Identify the sources of income, exemptions and allowable deductions.
 Determine capital gains tax on real property, ordinary and capital assets and shares of stocks traded and not through local stock exchanges
 Use the correct income tax forms, calculate the amount of tax due and file a correct tax return.
2. Affective Objectives
 Integrate the values of honesty and integrity in filing income tax returns
 Develop awareness of social responsibilities of business enterprise

3. Psychomotor Objectives:
 Be equipped with skills in computing the correct estate, donor’s and other taxes.
 Be equipped with skills in solving case problems and analyzing taxes cases.
 Teaching Learning Time
Intended Learning Outcomes Content Resources Assessment
Activities Allotment
1. Determine the basic I. Basic Principles Multi-media based teaching Technology 12 Hrs. Quizzes
environment that surrounds 1.1. History of taxation techniques Performance based
taxation including its assessments:
Interactive seatwork and
exemption and limitation and
board work
interpretation.

2. Discuss the basic principles of 1.2. Definition, nature, scope, Graded Recitation
sound tax system characteristics, purpose,
3. Differentiate taxation from powers, attributes, Individual or Group
taxes. discussion on concept
classification, sources,
maps drawn
interpretation, situs, scape,
interpretation, exemptions Research assignments
and stages of taxation and its
limitation
1.3. Taxation, eminent domain
and police power
1.4. Taxation and taxes
1.5. Principles of sound system

1. Understand the administrative II. Administrative Provisions of Income Multi-media based teaching Technology 9 Hrs Quizzes
provision of the taxation, the Taxation techniques Performance based
remedies of the taxpayer and the 1.Definition and concept, assessments:
government. assessment, collections, remedies, the Interactive seatwork and Graded Recitation
2. Know the officials of the Bureau collections agencies of the government, its board work Individual or Group
officials, duties and responsibilities and the discussion
of Internal Revenue and its basic
books to be maintained. Research assignments
duties and responsibilities

Classify the individual taxpayers Individual Income Taxation Multi-media based teaching Technology 10 Hrs Quizzes
Fill out BIR form 2316, 1700 and Definition of individual taxpayers techniques Performance based
1702 Classifications of individual taxpayers assessments:
Compute of withholding taxes and Sources of Gross Income Interactive seatwork and Graded Recitation
income taxes Income from personal services, business, board work Individual or Group
farming interest and lease agreements discussion
Inclusions/Exclusions from Gross income Research assignments
Deductions allowed on individual taxpayers
 Rules on change of status and personal
exemptions
Quarterly income tax of self-employed and
professionals
Computation of taxable income and tax due
Tax credit: withholding tax on compensation
income and at source
Filing and payment of income tax return
Documents accompanying the tax return
Administrative provisions of individual
income taxation
Final income taxation benefits and passive
income basis and tax due.

III. Corporate Income Taxation Multi-media based teaching Technology 10 Hrs Quizzes
1. Classify the corporation and the 1. Definition of corporation techniques Performance based
various forms to fill out including 2. Classification of corporation assessments:
deadlines Interactive seatwork and Graded Recitation
3. Special classes of
2. Compute taxes board work Individual or Group
corporation discussion
4. Exempt corporations Research assignments
5. Government owned and
controlled corporations
6. Exclusions from and
inclusions on gross income
a. Reasons for exclusion
1. Gross profit from
business
2. Gross profit from
dealings in property
3. Rules on capital
gains and losses
4. Rules on ordinary
gains and losses
5. Rules on wagering
gains and loss
6. Capital assets
transactions
7. Other passive
 income subjects to
basic tax
8. Rules on gross

a. Domestic
corporations
b. Resident foreign
corporations
9. Allocation of
unidentified gross
income
7. Basic corporate income tax
8. Minimum corporate
income tax
9. Gross income tax
10. Final income tax
11. Basic income tax returns
12. Quarterly income tax
returns
13. Income tax credits

Multi-media based teaching Technology 10 Hrs Quizzes

1. Understand the estate and trust V. Income tax on estate and trust and techniques Performance based
and partnership and the partnership assessments:
various forms to fill out 1. Cancellation Interactive seatwork and Graded Recitation
board work Individual or Group
including deadlines 2. Damage recovery
discussion
2. Compute taxes on estate of 3. Prices and awards Research assignments
trust & partnership 4. Income from illegal sources
5. Bad debt recovery
6. Tax refund
7. Filing of returns
8. Payment

Course Requirements:

Required Textbook:
References:
The Law and Jurisprudence in the National Internal Revenue Code with the TRAIN Law, by Virgilio Reyes, 2018
The Law On Income Taxation by De Leon, 2013
E. Valenzuela and G. Roxas Income Taxation, Valencia Education Supply
E. Valencia and G. Roxas Reviewer and Quizzes in Taxation, Valencia Education Supply
Ramelo C. Gloria Taxation, Manila
Philippine Laws on Income Taxation by Virgilio Litonjua and Lilian M. Litonjua

Prepared by: Reviewed by: Approved by: Date:

ATTY. PRECIOUS SWELAN C. SANTIAGO PROF. ROY RAIAN A. JOSON, CPA, MSA DR. ROSEMARIE I. SO, MBA, Ph.D BM
April 16, 2019
Head, Accountancy Program Dean

PROF. ROY RAIAN A. JOSON, CPA, MSA