University of Nueva Caceres

Naga City

COLLEGE OF BUSINESS AND ACCOUNTANCY

BUSINESS TAX

Sheryl Bascuna, CPA

BUSINESS TAX
By: Sheryl Bascuna, CPA
Copyright © 2021 by Sheryl Bascuna and the University of Nueva Caceres

Note that the course pack provided to you in any form, including this Study Guide, is
intended only for YOUR use in connection with the course that you are enrolled in.
LEARNING MATERIALS INCLUDED IN YOUR COURSE PACK ARE NOT FOR
DISTRIBUTION OR SALE. Permission should be obtained from your instructor for any
use other than for what it is intended.

Published in the Philippines by the University of Nueva Caceres

Office of the Vice President for Academic Affairs
JH10, JH Bldg., University of Nueva Caceres,
J. Hernandez Ave. Naga City,
Camarines Sur, Philippines

Printed in the Philippines

First printing, January 2021

Table of Contents
Module 0 Course Orientation 1

Study Guide 1 Value-Added Tax 20

Study Guide 2 Percentage Tax 22

Study Guide 3 Estate Tax 24

Study Guide 4 Donor Tax 26

 University of Nueva Caceres
COLLEGE OF BUSINESS AND ACCOUNTANCY
J. Hernandez Avenue, Naga City
Tel. No. +63-054-472-6100 local 115

UNIVERSITY OF NUEVA CACERES

The University of Nueva Caceres, a private non-sectarian institution, is

Bicol’s first university.

VISION Guided by its motto, “Non-Scholae Sed Vitae” (Not of School but of Life),
STATEMENT and attuned to the demands of a highly dynamic global environment, the
University of Nueva Caceres commits itself to quality and excellent
education for all to transform the youth into entrepreneurial,
productive, morally upright, socially responsible professionals for a just,
humane and progressive society.

The University of Nueva Caceres shall be a leading exponent of

academic excellence, research, extension, and innovative technology for
sustainable development.

MISSION
STATEMENT
It creates a nurturing academic environment and provides equal
opportunities in the formation of individuals into empowered leaders,
competent professionals and proactive entrepreneurs who are
cognizant of our rich cultural heritage.

UNIVERSITY

OBJECTIVES 1. PURSUE the nurturing and strengthening of social institutions

with empowered leaders, skilled professionals, and proactive
entrepreneurs for the development of the Bicol Region and the
Filipino nation;

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 2. PRODUCE graduates who entrepreneurial, productive, morally
upright, environmentally conscious, globally responsive and
socially responsible citizens;

3. PROPAGATE the culture of excellence through a continual

process of introspection, integration and improvement of
programs, facilities and services;

4. PROVIDE the University personnel with the means to enhance

their personal well-being and professional skills to effectively
carry out balanced curricular and development programs.

1. We champion excellence. We consistently strive for excellence in

everything we do.

2. We nurture dreams. We passionately guide and inspire our

students to leverage their potentials and aspire for better lives.

3. We do the right things right. We uphold integrity in everything

we do. We hold ourselves to high standards for accountability and
CORE VALUES character. We do things right.

4. We are dynamic and creative. We anticipate the forces of change.

We explore possibilities with intent and purpose.

5. We respect each other and work as a team. We collaboratively

maximize our talents and capabilities. We hold each other in high
regard and passionately realize our shared purpose, priorities and
promises.

GRADUATES Ex - Excellence Driven

ATTRIBUTES
C - Culturally- Rooted with Multi-Cultural Understanding

Collaborative

Creative and Critical Thinker

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 Compleat Leader (Compleat means Accomplished, Masterful, Great)

E - Effective Communicator

Ethically and Socially Responsible

L - Life-Long Learner

COLLEGE OF BUSINESS AND ACCOUNTANCY

The UNC College of Business and Accountancy envisions its graduates as

leaders and active agents in nation building by entrepreneurship and by
VISION
honest, dedicated service in government and private entities,
STATEMENT
contributing to the improvement of the quality of life of the Filipino, and
responsive to the demands of the global business environment.

The benefits of quality and excellent business and accountancy education

shall be made accessible to the youth through the provision of rich and
MISSION diverse curricular programs and alternative learning system that will
STATEMENT transform individuals into competent professionals, empowered leaders,
and proactive managers and entrepreneurs possessing the ideals of
competence, integrity, and moral and social responsibility.

PROGRAM EDUCATIONAL OBJECTIVES

Three to five years after graduation, BSA graduates are expected to:

PEO 1 Adapt to the developments in the Accountancy profession through life-long

learning engagements

Pursue graduate or law studies

Maintain updated CPA license

Acquire Accreditation (BOA, SEC, BIR, CDA etc)

Acquire Professional Certification (CISA, CMA, CIA)

PEO 2 Adhere to the Code of Ethics in the practice of the Accountancy profession

Exercise objectivity, due care and skepticism required of the accountancy

profession.

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 PEO 3 Contribute to nation-building by assuming leadership responsibilities

Assume supervisory/managerial positions

Lead projects along accounting and its related fields

PROGRAM OUTCOMES
At the time of graduation, the students of the BS Accountancy program should be able to:

General

POa Communicate clearly and effectively with stakeholders both in oral and written
forms.

POb Work effectively and independently in multi-disciplinary and multi-cultural

teams (PQF level 6 descriptor)

POc Promote “Filipino historical and cultural heritage” (based on RA 7722)

POd Act in recognition of personal and professional development

Technical

POe Implement business- related activities by applying the basic functions of

management and basic concepts that underlie in each of the functional areas of
business (marketing, finance, human resource, production/operation)

PO f Resolve business issues and problems, with global perspective and particular
emphasis on matters confronting financial statement preparers and users,
using their knowledge and technical proficiency in the areas of financial
accounting, cost accounting, management accounting, auditing, taxation,
business laws and regulations, regulatory framework for business transactions
accounting information systems and other related areas.

PO g Conduct accounting research, as a tool to critically, analytically and creatively

solve problems and drive results

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PO h Employ technology as a business tool in capturing financial and non financial
information, generating reports and making decisions.

PO i Apply knowledge and skills to successfully respond to various types of

assessments (including professional licensure and certifications)

PO j Maintain a commitment to good corporate citizenship, social responsibility

and ethical practice in performing function as accountants

COURSE INFORMATION

Program BS Accountancy

Term, School Year 2nd Semester, SY 2020-2021

Course Code AEC 223k

Course Title Business Tax

Course Description This course involves an intensive study of the Bureau of internal
Revenue rulings of business and transfer taxes systems, including
preferential taxes. The relationship between the three taxation
systems: business taxes and the income tax are emphasized. The
policy underpinnings of wealth transfer taxation, and the reasons
for the recent erosion in its political support, will be explored.
Topics include excise tax, Value added Tax, Percentage Tax, Estate
Tax, and Donor’s Tax.

Course Outcomes At the end of this course, you should be able to:

1. apply the NIRC, TRAIN Law and different BIR rulings

related to business tax; compute VAT and Excise Taxes;
prepare the return by accomplishing and familiarizing
related BIR forms

2. apply the NIRC, TRAIN law and different BIR rulings related
to business tax; compute Percentage Tax and prepare the
return by accomplishing and familiarizing related BIR forms

3. apply the NIRC, TRAIN law and different BIR rulings related
to Transfer Taxes; compute estate tax due and prepare the
return by accomplishing and familiarizing related BIR forms

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 4. apply the NIRC, TRAIN law and different BIR rulings related
to Transfer Taxes; compute donor tax due and prepare the
return by accomplishing and familiarizing related BIR forms

Faculty In-Charge Sheryl Bascuna

Contact Information Email: sheryl.bascuna@unc.edu.ph

Mobile Phone:09175004974

Consultation Hours 5:30-6:30 TH

Granularized Course Outcomes

Module/
Course CO ILO Intended Learning Teaching and Feedback
Study Assessment
Outcomes Level Level Outcomes Learning Activities Mechanism
Guide

faculty to conduct
Explain the UNC VM
course orientation;
and Core Values, CBA
I students to n/a
Explain the VM and BSA PEO and
review/reflect on
school PO
school philosophies
philosophies,
discuss course Discuss the course Zoom or
Module 0
requirements requirements, grading faculty to conduct Google meet,
Course E n/a
and grading I system and classroom course orientation Class GC, FB
Orientatio
system and and school policies Messenger,
n
write the E-mail, SMS
statement of
purpose or Write a statement of
students to
commitment purpose or
D participate in the BB essay; rubric
commitment to the
discussion forum
course and program

apply the NIRC, I Study I Discuss the nature, Students will: Theoretical Zoom or
TRAIN Law and 1VAT features and concepts quiz Google meet,
different BIR of VAT - read the concept Class GC, FB
rulings related prior to discussion Messenger,
to business tax; E-mail, SMS
Teacher will:
compute VAT
and Excise - give diagnostic

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 test;

- discuss the topic

through
synchronous
sessions using
google meet or GC;
and

- give feedback or
Taxes; prepare post test
the return by
accomplishing
and
familiarizing - synchronous
Problem-
related BIR Apply the tax provision sessions using
solving
forms E and compute the VAT google meet or GC;
due and

- give feedback or
post test

synchronous
sessions using
google meet or GC; Quiz
D Prepare the VAT return and

- give feedback or
post test

apply the NIRC, E SG 2 I Discuss the nature, Students will: Theoretical Zoom or
TRAIN Law and Percentag features and concepts quiz Google meet,
different BIR e tax of percentage tax - read the concept Class GC, FB
rulings related prior to discussion Messenger,
to business tax; E-mail, SMS
Teacher will:
compute the
percentage tax - give diagnostic
and prepare the test;
return by
accomplishing - discuss the topic
and through
familiarizing synchronous
related BIR sessions using
forms google meet or GC;
and

- give feedback or

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 post test

- discuss the topic

through Quiz:
Apply the tax
synchronous
provisions and
E sessions using Problem-
compute the
google meet or GC;
percentage tax due solving
and

- give feedback or
post test

- discuss the topic

through
synchronous Quiz:
Prepare the percentage sessions using
D google meet or GC; Illustration/
tax return
and Preparation
of tax return
- give feedback or
post test

- facilitate a webinar

apply the NIRC, D Study Students will:

TRAIN Law and Guide 3
different BIR Estate Tax - read the concept
rulings related prior to discussion
to transfer tax;
Teacher will:
compute the
estate tax due - give diagnostic
and prepare the test; Theoretical
Discuss the nature,
return by Quiz:
I features and concepts
accomplishing - discuss the topic
of estate tax
and through
familiarizing synchronous
related BIR sessions using
forms google meet or GC;
and

- give feedback or
post test

E Apply the tax Problem-

provisions and
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 - discuss the topic
through
synchronous
sessions using
compute the estate tax google meet or GC; solving
and

- give feedback or
post test

- discuss the topic

through
synchronous
Prepare the estate tax Preparation
D sessions using
return of tax return
google meet or GC;
and

- give feedback or
post test

apply the NIRC, D Study Students will: Zoom or

TRAIN Law and Guide 4: Google meet,
different BIR Donor Tax - read the concept Class GC, FB
rulings related prior to discussion Messenger,
to transfer tax; E-mail, SMS
Teacher will:
compute donor
tax and prepare - give diagnostic
the return by test; Theoretical
Discuss the nature,
accomplishing Quiz
I features and concepts
and - discuss the topic
of donor tax
familiarizing through
related BIR synchronous
forms sessions using
google meet or GC;
and

- give feedback or
post test

E Apply the tax Quiz:

provisions and
compute the donor tax - discuss the topic Problem-
due through
synchronous solving
sessions using
google meet or GC;
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 and

- give feedback or
post test

- discuss the topic

through
synchronous
Prepare the donor tax Problem
D sessions using
return solving
google meet or GC;
and

- give feedback or
post test

MODE OF DELIVERY, COMMUNICATION SYSTEM AND OTHER SUPPORT SYSTEM

This RED Learning Kit is to be delivered on a printed modular modality. This is the modality
that students may choose if they are facing either a zero internet connectivity at home, or an
unstable internet connectivity. If you have chosen this modality, you are in self-study
mode. You are expected to follow the study guide for this course. A minimum of 6 hours
per week is required for you to work for this course or a total of 54 hours in 9 weeks.

You are expected to submit the requirements as due for better navigation of the course. For
writing and presentation requirements, you are expected to avail of grammar and spelling
checker.

Consultation with your teacher should be at least once a week observing the class hours
using these channels;
Email – sheryl.bascuna@unc.edu.ph
Class FB messenger account – Sheryl Bascuna
2017 AEC 223k LPa Business Tax 2 SY 2020-21
2018 AEC 223k LPb Business Tax 2 SY 2020-21

Collaboration with group mates and classmates should be at least once a week as scheduled
through our Group Chat or through text messaging. Hence it is important that you provide
me with your FB messenger account and your cellphone number if possible.

On the other hand, if you chose the Flexi Tech modality, it means that your internet
connectivity at home is stable, and therefore you can make use of the Learning Management
System or LMS for your learning activities at home. In this modality, you will have learning
sessions that will be done asynchronously, meaning, you will follow through the lessons,
instructions and activities using the BB LMS by connecting on-line. You can do this at your
own pace and time, preferably at the time that is prescribed in your schedule of classes to
help you on managing your time properly. You will also have synchronous classes with
your teacher and classmates, meaning, you will get to meet with them virtually by using
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platforms such as Zoom or Google Hangouts. The schedules are provided in the class
schedule. However, whenever there are adjustments in the schedule of meetings because of
certain exigencies, you will be informed about it through a message in the Group Chat which
we will create, or through text messaging.

Section Day Time Google Meet Details

AEC223K-LPa TF 5:30-7:00pm meet.google.com/tzx-acwe-eab

AEC223K-LPb TF 7:00-8:30pm meet.google.com/bjq-zqzq-jwu

In a face-to-face mode of delivery, we meet during class hours at an assigned room. That has
changed in a remote set up whether in flexi-tech or flexi-kit solutions. Instead of meeting
every week at a pre-assigned time and place, a large portion of your work will involve
independent study tasks. This means you will need to pace yourself, direct your own
learning experience, be disciplined in managing your time, and target to complete
assignments on or before the due date.

Every week, I designed a Study Guide which provides details on how you should engage
with the core topic and whether this will be supported by a live meeting via Zoom or Google
Meet. The lesson/topic for each week is designed following the UNC outcome-based
education delivery format. You must view these study guides at the start of the week to give
you clarity of what lies ahead and what is expected of you during the week.

COURSE REQUIREMENTS AND GRADING SYSTEM

The following shows a summary of the different assessments that we will be conducting in
relation to the course outcomes. These assessments intend to measure whether you have
reached the expectations of the course through the different lessons and learning activities
that we will have in the entire delivery of the course:

A formative assessment is an “assessment for learning”. It intends to determine what your

learning needs are and what interventions are needed to meet your learning needs and
improve your competencies and skills. A summative assessment is an “assessment of
learning”. It intends to measure whether you have already achieved the expected outcomes
of the course.

Grading System
This will be our Grading System. Take particular note of the components so that you can
strategize on how you can achieve a good final mark in this subject:
Midterm
70% Participation
Attendance/weekly log-in/consultation 10
Participation in formative assessments 10
Graded Projects/Activities/ Summative Assessments 50
30% Midterm Exam

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 Final
70% Participation
Attendance/weekly log-in/consultation 10
Participation in formative assessments 10
Graded Projects/Activities/Summative Assessments 50
30% Final Exam

Final Grade= (Midterm + Final)/2

Cut-off for every assessment to be marked 75% is 60%. This means that for 10- item
assessment, the student should get at least 6 correct answers to get the 75% mark.

Midterm and final exams will be posted in BB LMS for flexi - tech students. The test
questions will be provided in the FB messenger for flexi-kit students.

GRADING SYSTEM

Range Numerical Grade Interpretation

99% - 100% 1.0 Excellent
96% - 98% 1.25 Very Superior
93% - 95% 1.50 Superior
90% - 92% 1.75 Very Good
87% - 89% 2.0 Good
84% - 86% 2.25 Very Satisfactory
81% - 83% 2.50 Satisfactory
78% - 80% 2.75 Fair
75% - 77% 3.0 Pass
74 and below 5.0 Fail

ASSESSMENT TOOLS
Rubrics for Discussion Forums
Criteria Satisfactory Very Satisfactory Excellent
Observations I give simplistic I give an adequate I give sophisticated
and Insights observations, provide degree of observations, and thoughtful
(Max. 50 pts) little or no insight, some insight and observations, high
comment or analysis. My analysis. My work is degree of insight and
work is more descriptive reflective and analysis. My work has
than reflective considered outcomes evidence that
(30 pts) but lack depth outcomes have been
processed and
(40 pts) reflected upon.
(50pts)
Comments and I rarely engage with other I engage with other I actively engage with
Discussions group members and do group members, but other group members,
(Max. 30 pts) not use relevant literature rarely use relevant and adequately use
or factors on the pertinent literature or factors on relevant literature or
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 issues and discussion. the pertinent issues and factors on the
discussion to support pertinent issues and
the argument with discussion to support
(20 pts) relevant evidence. the argument with
relevant evidence and
(25pts) introduce new
perspectives.
(30pts)
Language and My work is not well My work has better My work has an
Structure organized, predominantly structure with a logical excellent coherence
(Max. 20 pts) descriptive with little progression. It uses and progression. Its
interpretation or limited interpretation ideas and
reflection. It indicates and reflections. It observations are well
poor vocabulary and observes competent structured. There is
grammar and with vocabulary and an effective and
numerous errors. grammar but with accurate use of
(10 pts) occasional errors. vocabulary and
(15 pts) grammar, very few to
no errors at all.
(20pts)
Rubrics for Simulation/ Problem Solving
Criteria Satisfactory Very Satisfactory Excellent
Identify a I can identify few aspects I can clearly identify I can clearly and
problem of the problem some aspects of the completely identify
(25pts) (15pts) problem the problem
(20pts) (25pts)
Identify I can identify few I can identify with I can accurately and
applicable standards and formula minor errors the completely identify
standards and relevant to the identified standards and formula the standards and
formula (25pts) problem relevant to the formula relevant to
(15pts) identified problems the identified problem
(20pts) (25pts)
Develop/illustr I can provide an answer I can provide accurate I can provide accurate
ate the solution but with little details of answer but with answer with complete
(25pts) the solutions incomplete and less and organized details
(15pts) organized details of the of the solutions
solutions (25pts)
(20pts)
Justify the I can explain the solution I can explain the I can clearly explain
solution with little basis solution but with less the solution with
(25pts) (15pts) sufficient bases sufficient bases
(20pts) (25pts)

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COURSE SCHEDULE

Week/ Topics/ Teaching & Learning Activities Expected

Date COs Asynchronous Synchronous Output

Module 0 Reading of course Setting of expectations Statement of

guide Commitment
Week 0 Course
Orientation Self-introduction via
Setting LMS
Expectations

Week 1 CO 1 Study Reading of learning Class discussion Result of

Guide 1 Value - materials on VAT theoretical quiz
Added Tax
Setting
Expectation

Week 2 CO2 Study Reading the book Class discussion; problem solved
Guide 1 Value- problem-solving
added tax
Gaining Answering the
Attention assigned problems

Week 3 CO2 Study Preparation of VAT Class discussion; Duly

Guide 1 Value- return problem solving accomplished
added tax VAT return
Presenting
Stimulus

Week 4 CO3 Study Reading the book Class discussion theoretical quiz
Guide 2
Percentage tax about percentage tax

Providing Problem-solved
Guidance
Answering the
assigned problems

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 Week 5 CO3 Study Reading the book Class Duly
Guide 2 discussion;problem accomplished
Percentage Tax solving percentage tax
Eliciting Answering the return
Performance assigned problems
Midterm Exam

Week 6 CO3 Module 3 Reading the book Class discussion; theoretical quiz
Estate Tax problem solving
about estate tax

Providing Problem-solved
Feedback
Answering the
assigned problems

Week 7 CO4 Study Problem-solving Class discussion; Duly

Guide 3 Estate problem-solving accomplished
Tax estate tax
Providing Preparation of estate return
more return
scaffolds

Week 8 CO4 Study Reading the book Class discussion; Theoretical

Guide 4 Donor problem-solving quiz
Tax and about donor tax and
Preferential Tax preferential tax
Enhancing
Retention Answers to
problems
Answering of solved
problems

Week 9 CO4 Study Preparation of donor Class discussion; Duly

Guide 4 Donor tax return problem-solving accomplished
Tax and donor tax
Assessing Preferential Tax return
Performance Final Exam

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For our class schedule, kindly refer to the official matriculation form. The university
classifies the subject into cluster 1 and cluster 2. Cluster 1 subjects will be taken in the first
nine (9) weeks of the semester while cluster 2 subjects will be taken in the last nine (9)
weeks of the semester.

This course- Business Tax is to be taken as part of the second cluster subjects. You are
expected to devote at least six hours a week for this subject. This means that you have to
double the time specified in the matriculation form so that you will complete the learning
activities and assessments as specified in the table above.

For flexi kit class, we will have a consultation session at least once a week at the time
indicated in your matriculation form. The day of this session will be determined and
announced on our first day of classes. This meeting will be conducted via zoom or google
meet for those with internet connectivity or via call for those who do not have internet
connectivity. Announcements will be posted in our class GC. Please tune in.

For flexi-tech class, we will have a weekly synchronous session at the time indicated in your
matriculation form. The day of this session will be determined and announced on our first
day of classes. This meeting will be conducted via zoom or google meet.

In both flexi kit and flexi tech solutions, our interaction through consultation or
synchronous sessions would be approximately 2 hours out of 6 hours required by the
subject on a weekly basis. This means that in most parts of the required hours or
approximately 4 hours a week, you are on self-study mode. During this time, you are
expected to do your part as a diligent and responsible learner. Refer to this RED learning kit
as a complete guide on how to acquire the competencies and comply with the course
requirements. Though we have scheduled consultation or synchronous sessions, you can
give me a ring or send a message in our class GC for urgent concerns. I will try to respond
within the day or in 24 hours.

Aside from our interaction and your interaction with the content, you are also encouraged
to interact with your peers or classmates in this course. There are requirements that need
collaboration with your classmates. May you enjoy this activity.

These are the exam schedules. Place and manner of examinations are to be announced.

STUDENTS’ REQUIRED SKILLS AND ENVIRONMENT IN A DISTANCE LEARNING MODE

Distance learning covering both flexible tech-driven and printed modular modalities may
sound so wonderful that some of you may start with an unrealistic vision. In reality, these
learning modalities require just as much, if not more, time, energy, motivation and
discipline as traditional classroom courses. So, it is imperative that you possess specific
skills and apply learning strategies to be successful in these learning modalities.

To better equip you for distance learning, it is highly recommended that you take and
complete a Coursera course- MINDSHIFT: Break Through Obstacles to Learning and
Discover Your Hidden Potential. Mindshift teaches the essentials of online learning. It
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provides practical insights from science and certain mental tools so you can learn and do
more—far more—than you might have ever dreamed!

You can avail this course as a free course, which means no certificate will be provided to
you after completion. However, the skills and learning strategies that you will gain are
helpful in your university journey.

Aside from the Coursera course, we have the summary of skills and learning strategies that
will surely help you in this distance learning mode: I would like you to carefully read the list
and apply these in all your courses.

1. Persistence
Persistence is perhaps the biggest key to succeed in distance learning. This means that you
should have the willingness to tolerate technical problems, initiative to seek help when
needed, discipline to work daily on every class, and motivation to persist through
challenges.

You should understand that you will run into challenges, but keep trying and ask for help.
You have to set up a manageable study schedule and stick to it. You are expected to log in
and make progress every day. Have that discipline, stick to your schedules even after the
novelty of going to distance learning starts to wear off! Keep going! Your daily little
progress when sums up will be surely of significant value at the end of this course.

2. Effective Time-Management Skills

Next, time management. You must be able to manage your time well. This flexibility is one of
the great benefits of distance learning. But, it can also be a drawback if you procrastinate,
unable to stick to a routine study schedule, or is not able to complete assignments without
daily reminders from your teacher.

Effective time-management skills don't just happen. You have to learn this by practice. Once
you do, you will benefit from it throughout your life. So, follow the tips below to develop
yours:

● You are encouraged to review the syllabus for each of the courses. You must develop
a comprehensive plan for completing the course requirements and assessments.
● Make a daily "To Do" list. And have fun checking things off the list as you complete
them.

It takes time to develop good habits. But, at the end, you will surely gain satisfaction from
being well-organized and in accomplishing your tasks.

3. Effective and Appropriate Communication Skills

Another is about communication. This skill is vital in distance learning because you must
seek help when you need it. We, your teachers are willing to help you, but we are unable to
pick up on non-verbal cues, such as a look of confusion on your face. You are advised to
follow these tips:

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 ● Use the tools provided by your courses as channels for communication. Our
school and your program provide several ways for us to communicate. These might
include e-mail, discussion groups, chat room office hours, cell phones, and even text
messaging. We want to help you to succeed in your classes and will surely answer
your questions.

You may feel awkward to talk with your teachers this way, but these channels aim to
bridge the communication gaps in distance learning. So, go ahead and see the
channels specified in this course.

● Use appropriate style and language for school. When communicating with your
teachers and other staff, you should write in full, grammatically correct sentences
and with a respectful tone. While many of you are used to a very informal style of
writing in chat rooms, blogs, text messages, and so forth, for academic training in
UNC along English Immersive Environment (EIE), you are encouraged to be mindful
of your language and sentence construction.

Because of the distance, it's tempting for some of you to say things out of anger or
frustration that you would never say to your teacher in person. We, your teachers in
distance learning are both professionals and persons. We expect to be treated with respect
and courtesy in the same way that you do in a physical classroom; and with persons whom
you encounter every day like your family. Let us always remember the UNC Core Value: We
Respect Each Other and Work as a Team.

4. Basic Technical Skills

The fourth skill is about technology. You as learners need basic technical skills to succeed.
These include your ability to create new documents, use a word processing program,
navigate the internet and the learning management system, and download software and
files. We will have an orientation on how to use the learning management system and other
online tools.

If you lack basic computer skills, we are encouraging you to find an online tutorial and learn
from there. You may also want to check the UNC’s main website for its hardware and
software requirements to see the compatibility of your own gadgets

5. Reading and Writing Skills

Another is about reading and writing as the main ways to communicate in distance learning
modality. Although some hard copies of textbooks might be required, you should be
comfortable reading a lot of documents on a computer screen and able to type.

Though some tests and quizzes have multiple choice questions, many of your assignments
will involve writing short or long answers. So appreciate these learning activities to
improve your writing skills.

6. Motivation and Independence

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The sixth skills are about motivation and independence. To be successful, you must want to
succeed. Distance learning requires independence, internal motivation, responsibility, and a
certain level of maturity.

Kindly reflect on these questions:

What are your reasons for attending school?

Are you determined and self-motivated to succeed in school?

Your answers are worthwhile reasons to work hard in school. In the future, it will give you a
greater level of personal satisfaction with your career. Perhaps it would be simply a
personal pride in your accomplishments.

7. A Good Study Environment

The last but not the least is having a good study environment. This is a critical factor in
distance learning. Refer to the helpful tips below:

● Get some peace and quiet. You will need a quiet place to work without distractions
from things like television, family, or roommates.
● Avoid games. Consider uninstalling any computer games to avoid temptation. Or
keep the games on a different computer in the house.
● Turn off mobile phone devices. Let your friends and family members know the
hours that you will be "at" school.
● Beware surfing the black hole of the Internet. It is easy to lose track of the time as
you wander from site to site.
● Consider ergonomics. Adjust the height of your chair, keyboard, and screen so that
you will be comfortable. Forearms and thighs should be level and parallel to the
floor. Wrists should not be bent while typing.
● Set up good lighting and comfortable seating. Lighting in the room should be at
least as bright as the computer screen to avoid eye strain.

Go back to the above list from time to time to be reminded of helpful tips to succeed in distance
learning or probably in life in general.

OTHER COURSE POLICIES

General Requirements

Each student is expected to perform in a number of positive ways so as to develop and/or

enhance both tangible and intangible competencies and appreciation. As a facilitator of learning
in these areas, the following expectations must also be met:

1. Thoroughly read and submit all course requirements by the due dates.

2. Communicate with the faculty via LMS, email, class GC or mobile phone number.

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 3. Conduct yourselves in a professional manner.

4. Check the LMS and class GC regularly.

5. For submission of large files, use the class Google drive

Feedback Mechanism

This will utilize various platforms like BB LMS, Zoom, Google Meet, Email, FB messenger
or SMS.

Written Works: Accuracy and Attribution

All work submitted to the instructor for a grade in the class must be typed or word-
processed, following the format recommended by the APA (American Psychological Association)
citation guidelines (6th Edition). The faculty will adhere to all university policies regarding the
originality of work, examination protocols and behavior, and grading practices. Students are
expected to be familiar with them. Individual and group work submitted by students must be
original. Using other works not properly referenced, especially long passages, may result in a
grade reduction or other appropriate actions as required by the severity of the situation,
including reporting the infraction to the Dean of the School of Graduate Studies. Accurate and
complete referencing will avoid any and all problems in this regard. If you use a reference from
the Internet, the complete URL is required in your bibliography per APA citation standards (6th
Edition).

Honor Code
We uphold the UNC Core Values and this is our commitment with respect to academic integrity.

I am an advocate of academic integrity. I commit to be transparent in acknowledging the work of

others. I commit not to cheat on exams, plagiarize or misrepresent the ideas of someone else as my
own, falsify data and engage in the instances that tainted academic integrity.

I commit to UNC Core Values of Doing the Right Things Right!

Keeping Second Copies of Your Work

Students should retain second copies of all material submitted to the faculty. All written
work submitted to the LMS or class Google drive must contain the student’s name.

Course and Faculty Evaluation by Students

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20
 Students will be provided with an opportunity to evaluate the course and the faculty, as
well as relevant materials and activities used in the course delivery. Student feedback is welcome
any time. The best avenue is LMS, email, faculty or mobile phone number.

Prepared by:

Sheryl Bascuña
Instructor

Reviewed and Approved by:

Cerila C. Sanchez
Dean, College of Business and Accountancy

Study Guide 1: VAT

Week/Date: Week 1 -3

Checklist for Week 1 -3

Done? Learning Tasks ILO Assessment Estimated Target Assessment
level Duration Date of Result
Completio
n

Study Guide 0 I Statement of 1 hour Day 1 of

purpose or week 1
commitment;
rubric Apr 10

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21
 LT 1: Concept- I Theoretical Quiz 5 hours Week 1
building
April 10

LT 2: Concept E Problem-solving 6 hrs Week 2

Application
April 17

LT 3: Preparation of D Problem- 6 hrs Week 3

tax return solving;rubric
April 24

Intended Learning Outcomes

By the end of weeks 1-3, you should be able to:

I Discuss the nature, features and concepts of VAT

E Apply the tax provisions and compute the amount of VAT due

D Prepare the VAT return

Module 0
Learning Task 0
Write your statement of purpose or commitment and submit either in the BB
discussion forum or in the class Google drive.

Study Guide 1
Learning Task 1

Asynchronous Sessions:
READ:
Chapter 16 (Nature and Concept of Business Taxes), Ballada et al. (2019). Transfer
and Business Taxation pg.249 to 250

I. Introduction to Business Taxes

i. Types of Business Taxes
ii. Business that qualified for each type of Business Taxes
iii.Compliance of business establishment for each type of Business
Taxes
iv. Business Transactions
v. Different transactions that needs Business Taxes

Asynchronous Sessions:
READ:

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22
 Chapter 17 (VAT on Sale of Goods or Property)pg. 251 to 270, Chapter 18 (VAT on
Sale of Services and Use or Lease of Property)and Chapter 19 (VAT on Importation
of Goods)pg. 277 to 310 Ballada et al. (2019). Transfer and Business Taxation
II. Introduction to Value Added Tax (VAT)
i. Nature and Rationale of VAT
ii. Characteristics, computation and different rates
iii. Different taxpayers who qualified/ exempt for VAT registrations
iv. Determining VAT declaration

III. Value Added Tax

i. VAT-subject transactions
ii. Sale of goods or properties (actual sales, deemed sales, zero rated
sales)
iiii. Sale of services and lease of properties (actual sales or lease, zero
rated sales)
iv. Importation

Asynchronous Sessions:
READ:
Chapter 20 (Output and Input VAT)pg. 311to 320, Chapter 21 (Exempt
Transactions), Chapter 22 (Compliance Requirements) and Chapter 23
(Withholding and Remittance of VAT)pg. 331 to 379 Ballada et al. (2019). Transfer
and Business Taxation

IV. Input VAT credits, refunds and mixed business transactions

i. VAT exempt transactions
ii. Input value added taxes
iii. Passed-on VAT
iv. Transitional VAT input
v. Presumptive VAT input
vi. Withholding VAT (creditable and final)
vii. Excess VAT input in previous return
viii. Refund of VAT input (zero rated sales, purchase of land and
capital goods)
ix. Compliance requirements (invoicing, returns and payment of
value added tax; power of the Commissioner to suspend business)
x. Mixed Business transaction and allocation of input tax.

Synchronous Session: Class discussion on VAT concepts

Learning Task 2
Apply the tax provisions and compute the amount of VAT due

Synchronous Session: Class discussion on the application of tax provisions and

computation of tax due

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23
 Assessment: Problem-solving

Learning Task 3
Preparation of VAT return

Synchronous Session: Class discussion on the preparation of VAT return

Assessment: Problem-solving on preparation of VAT return

Reference

Note:
Synchronous sessions are intended for those who availed of the tech-driven modality. However,
students who opted for RLK are highly encouraged to attend these sessions.

As part of supervised learning, students who opted for RLK should report for weekly
consultation using either FB messenger or SMS.

Study Guide 2: Percentage tax

Week/Date: Week 4-5

Checklist for Week 1

Done? Learning Tasks ILO Assessment Estimated Target Assessment
level Duration Date of Result
Completio
n
LT 1: Concept- I Theoretical Quiz 6 hours Week 4
building Apr 30
LT 2: Concept E Problem-solving 3 hrs Week 5
Application May 8
LT 3: Preparation of D Problem- 3 hrs Week 5
tax return solving;rubric May 8

Intended Learning Outcomes

By the end of week 1, you should be able to:

I Discuss the nature, features and concepts of Percentage tax
E Apply the tax provisions and compute the amount of percentage tax due
D Prepare the percentage tax return

Learning Task 1

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24
 Asynchronous Sessions:

Asynchronous Sessions:

READ:
Chapter 24 (Percentage Taxes:Base and Rate) and Chapter 25 (Withholding of
Percentage Taxes)pg. 423 to 447Ballada et al. (2019). Transfer and Business
Taxation

I. Taxpayers, tax base and tax rates

II. Tax on persons exempt from value added tax
III. Tax on domestic or international carrier (including exemptions)
IV. Tax on franchise
V. Overseas communication tax ( including exemptions)
VI. Tax on banks and non-bank financial intermediaries performing quasi-
banking functions
VII. Tax on other non-bank financial intermediaries
VIII. Tax on life insurance
IX. Tax on agents of foreign insurance companies
X. Amusement taxes
XI. Tax on winnings
XII. Stock Transaction tax
XIII. Returns and payment of percentage tax (regular filing)
XIV. Excise tax
XV. Purposes, Classifications and Goods Subject to Excise Tax

Simulation: Answer the assigned practice questions or multiple choice questions at

the end of Chapter of your textbook pg.439 to441 and pg.448 to 450

Synchronous Session: Class discussion

Assessment: Theoretical quiz

Learning Task 2
Apply the tax provisions and compute the percentage tax due

Synchronous Session: Class discussion on the problems solved

Assessment: Problem-solving

Learning Task 3
Prepare the percentage tax return

Synchronous Session: Class discussion on the prepared percentage tax return

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25
 Assessment: Problem-solving on preparation of the percentage tax return

References

Note:
Synchronous sessions are intended for those who availed of the tech-driven modality. However,
students who opted for RLK are highly encouraged to attend these sessions.

As part of supervised learning, students who opted for RLK should report for weekly
consultation using either FB messenger or SMS.

Study Guide 3: Estate tax

Week/Date: Week 6-7

Checklist for Week 6-7

Done? Learning Tasks ILO Assessment Estimated Target Assessment
level Duration Date of Result
Completio
n
LT 1: Concept- I Theoretical Quiz 6 hours Week 6
building May 15
LT 2: Concept E Problem-solving 3 hrs Week 7
Application May 22
LT 3: Preparation of D Problem- 3 hrs Week 7
tax return solving;rubric May 22

Intended Learning Outcomes

By the end of week 1, you should be able to:

I Discuss the nature, features and concepts of estate tax
E Apply the tax provisions and compute the amount of estate tax due
D Prepare the estate tax return

Learning Task 1
Asynchronous Sessions:
READ:

Chapter 2 (Basic Concepts of Succession)pg. 4 to 15 Ballada et al. (2019). Transfer

and Business Taxation

I. Succession

Asynchronous Sessions:

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26
 READ:
Chapter 3 (Gross Estate)pg. 25 to 38, Chapter 4(Deductions from Gross Estate)pg.
57 to 74 and Chapter 5(Net Taxable and Estate Tax)pg. 99 to 100.Ballada et al.
(2019). Transfer and Business Taxation

II. Gross estate

III. Deductions allowed to estate (ordinary and special deductions)

Asynchronous Sessions:
READ:
Chapter 9 (Tax Credit for Foreign Estate Tax) pg. 165 to 167 and Chapter 10
(Administrative Provisions) pg. 175 to 182 Ballada et al. (2019). Transfer and
Business Taxation

IV. Tax credit for estate tax paid to a foreign country

V. Filing of estate tax returns, payment of estate tax requirements
VI. Attachments to estate tax return, including CPA certificate

Simulation: Answer the assigned problems or multiple choice questions in your

textbook.

Synchronous Session: Class discussion

Assessment: Theoretical Quiz

Learning Task 2
Apply the tax provisions and compute the amount of estate tax due

Synchronous Session: Class discussion of the answers to problems solved

Assessment: problem-solving

Learning Task 3
Prepare the estate tax return

Synchronous Session: Class discussion on the preparation of the estate tax return

Assessment: Problem-solving on preparation of estate tax return

References

Note:
Synchronous sessions are intended for those who availed of the tech-driven modality. However,
students who opted for RLK are highly encouraged to attend these sessions.

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27
 As part of supervised learning, students who opted for RLK should report for weekly
consultation using either FB messenger or SMS.

Study Guide 4: Donor Tax and Preferential Taxes

Week/Date: Week 8-9

Checklist for Week 8-9

Done? Learning Tasks ILO Assessment Estimated Target Assessment
level Duration Date of Result
Completio
n
LT 1: Concept- I Theoretical Quiz 6 hours Week 8
building May 29
LT 2: Concept E Problem-solving 3 hrs Week 9
Application June 5
LT 3: Preparation of D Problem- 3 hrs Week 9
tax return solving;rubric June 5

Intended Learning Outcomes

By the end of week 1, you should be able to:

I Discuss the nature, features and concepts of donor tax
E Apply the tax provisions and compute the amount of donor tax due
D Prepare the donor tax return

Learning Task 1

Asynchronous Sessions:
READ:
Chapter 11(Basic Concepts of Donation) pg. 197 to 202 Ballada et al. (2019).
Transfer and Business Taxation

I. Donation

Asynchronous Sessions:
READ:
Chapter 12(Gross Gift), Chapter 13 (Exemptions from Gross Gift) and Chapter
14(Net Taxable Gift and Donor’s Tax) pg. 207 to 224 Ballada et al. (2019). Transfer
and Business Taxation

Business Tax

28
 II. Gross gift
III. Exemption of certain gifts and other deductions from gross profit
IV. Tax rates in general and when the donee is a stranger

Asynchronous Sessions:
READ:
Chapter 15(Tax Credit for Foreign Donor’s Tax) pg. 243 to 246 Ballada et al. (2019).
Transfer and Business Taxation

V. Tax credit for estate tax paid to a foreign country

VI. Filing of donor’s tax returns, payment and requirements

Simulation: Answer the assigned problems or multiple choice questions in your

textbook.

Synchronous Session: Class discussion

Learning Task 2
Apply the tax provisions and compute the amount of donor’s tax due

Synchronous Session: Discussion of answers to problem solved

Assessment: Problem-solving

Learning Task 3
Prepare a donor tax return

Synchronous Session:Problem-solving

QUIZ: At the BB Test Section, based on the data presented to you, prepare the donor
tax return by applying the tax provisions on tax compliance and requirements.

For RED Learning Kit Students, the test question is available in the class Google
Drive or FB messenger

References

Note:

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29
Synchronous sessions are intended for those who availed of the tech-driven modality. However,
students who opted for RLK are highly encouraged to attend these sessions.

As part of supervised learning, students who opted for RLK should report for weekly
consultation using either FB messenger or SMS.

Textbook: This is required in this subject. This subject will utilize the content and
simulation cases from this book.

Ballada et al. (2019). Transfer and Business Taxation. Domedane Publisher

Additional References

Value Added Tax-Bureau of Internal Revenue

https://www.bir.gov.ph/index.php/tax-information/value-added-tax.html

Percentage Tax-Bureau of Internal Revenue

https://www.bir.gov.ph/index.php/tax-information/percentage-tax.html

Estate Tax-Bureau of Internal Revenue

https://www.bir.gov.ph/index.php/tax-information/estate-tax.html

Donor’s Tax-Bureau of Internal Revenue

https://www.bir.gov.ph/index.php/tax-information/donor-s-tax.html

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