Suggested Study Guide for TAXATION
TOPIC # Topic
1 Fundamental Principles of Taxation
2 Taxes, Tax laws and Tax Administration
3 Fundamentals of Income Taxation
4 Final Income tax & Capital Gains Taxation
5 Regular Income Tax: Gross Income
6 Fringe benefits and Dealings in Properties
7 Principles of Deductions
8 Itemized Deductions and OSD
9 Individual Income Tax
10 Corporate Income Tax
11 Estate Taxation
12 Donor's Taxation
13 Intro to Consumption Taxes and VAT on Importation
14 Intro to Business Taxation & Exempt sales
15 Specific Percentage Taxes
16 Value Added Tax
17 Excise Tax and DST
18 Tax Remedies
19 Local Taxation
20 Preferential Taxation
Suggested Study Guide for TAXATION
Instruction: Read all concepts, follow all drills; answer all quizzers, with special emphasis to:
Nature, purpose and limitations of the taxing power
Doctrines of taxation
Taxpayer classes, accounting systems and methods, tax systems and gross income
Attributes of final tax and FIT list;
Finish 6.0 and 6.1 on Compensation
The difference between compensation and fringe benefits and the list of de minimis.
Four principles of deductibility
Deduction conditions and thresholds
8% income tax
Special corporations and MCIT
Concept of transfer, taxpayer types, gross income and deductions
Exempt donations
Conceptof consumption taxes
Mnemonics on exempt sales and exempt receipts
BICAP FLOW
Rules on output VAT and input VAT recognition and measurement
excise tax types and DST subject transactions emphasized in the video discussion.
Process flow and deadlines
Appreciate the unique nature of local taxation before proceeding to the details.
Types of incentives per type of taxpayers and taxpayers registered with IPAs.
Choose according to your preference or you may do adjustments according to your ava
FAST PACED SLOW-PA
Month Week # Topic Month Week #
May 3 Fundamental Principles of Taxation April 1
4 Taxes, Tax laws and Tax Administration
2
June 1 Fundamentals of Income Taxation 3
2 Final Income tax & Capital Gains Taxation 4
3 Regular Income Tax: Gross Income
4 Fringe benefits and Dealings in Properties
5 Principles of Deductions May 1
2
July 1 Itemized Deductions and OSD 3
2 Individual Income Tax 4
3 Corporate Income Tax
4 First Pre-board June 1
2
August 1 Recap/Mastery Income Taxation 3
2 Estate Taxation 4
3 Donor's Taxation 5
4 Intro to Consumption Taxes and VAT on Importation
Intro to Business Taxation & Exempt sales July 1
5 Specific Percentage Taxes 2
Value Added Tax 3
4
September 1 Excise Tax and DST
2 Tax Remedies & Local Taxation August 1
3 Preferential Taxation 2
4 Final Pre-board 3
4
October 1 Pre-week
2 CPALE 5
September 1
2
3
4
October 1
2
ments according to your availability.
SLOW-PACED
Topic
Fundamental Principles of Taxation
Taxes, Tax laws and Tax Administration
Fundamentals of Income Taxation
Final Income tax & Capital Gains Taxation
Recap & mastery for the 4 topics
Regular Income Tax: Gross Income
Fringe benefits and Dealings in Properties
Principles of Deductions
Itemized Deductions and OSD
Recap & mastery for the 4 topics
Individual Income Tax
Corporate Income Tax
Catch-up for the backlogs
Recap & mastery for the Income Tax topics
Estate Taxation
Donor's Taxation
Recap & mastery for the 1st preboard topics
First Pre-board
Recap & mastery for Estate & Donor's Tax
Intro to Consumption Taxes and VAT on Importation
Intro to Business Taxation & Exempt sales
Specific Percentage Taxes
Value Added Tax
Recap & mastery for the previous topics
Tax Remedies & Local Taxation
Preferential Taxation
Recap & mastery for all the topics
Final Pre-board
Pre-week
CPALE
