Tax1102 - Week 1

Introduction
Business
Taxation
(TAX1102)
Discussion Outline
1 Introduction
2 Course Outline
Policies, Requirements and

3 Expectations
Part 1
Introduction
About the Proctor
Christiene Lawrence R Matic, CPA
Institute of Accounts, Business and Finance
► Christiene (Tiene) is a Director from the Global
Compliance and Reporting (GCR) group of Sycip,
Gorres, Velayo (SGV) & Co. (a member firm of Ernst
& Young or “EY”).
► With over eight years of meaningful experience in

providing tax services to various Top 1,000
Corporations in the Philippines and with over four
years of experience in financial KPIs review.
► He passed the CPA Licensure Examination on

October 2013 and graduated Cum Laude at San
Sebastian College – Recoletos de Cavite, Inc.
(Bachelor of Science in Accountancy).
► His MBTI personality type is ESFP-A.

Introduce yourself! 
► Briefly introduce yourself… Name, nickname and share at least three (3) facts
about yourself.
► Some guiding questions:
► What is your MBTI / personality type? (If you haven’t checked it yet, then go
to https://www.16personalities.com/ The test is completely free!
► What are your hobbies?
► Which Netflix/Viu/Apple TV series is/are you currently binge watching?
► Who is/are your favorite artist/s?
► Aside from accounting books, are you reading something else? Share it!
► Do you like Taxation?

Part 2
Course Outline
Course Outline
This course involves an intensive study of the Bureau of Internal
Revenue rulings of business and transfer taxes system, including
preferential taxes. The relationship between the three-taxation system:
business taxes, transfer 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. The
taxation under the government, tariffs and codes are also discussed.
Topics include value added tax (VAT), percentage tax, estate tax, and
donor’s tax and new regulations under the Tax Reform for
Acceleration & Inclusion (TRAIN) Law relative to business taxes.
Remedies shall also be covered in this course. At the end of the

course, learners are expected to be knowledgeable in using various
BIR Forms for Business and Transfer Taxation.
Business Taxation
Course Outline
Week Number Description
Week 1 • Course Orientation and Policies, Standards,
Guidelines (PSG Discussion)
• Administrative matters
• Overview of the Philippine Tax System
• Application of the TRAIN Law

Business Taxation
Course Outline
Week 2 • Introduction to transfer and business taxes
– Estate tax; donor’s tax; business taxes
• Succession and donation – defined
• Concepts of terminologies in succession
• Wills: Holographic and notarial
• Concept of legitime, testacy and intestacy

and order of succession in the Philippines
Business Taxation
Course Outline
Week 3-4 The gross estate:
• inclusions in gross estate
• rules on citizen, resident and nonresident
decedents, reciprocity rule for nonresident
aliens
• special rules for properties not physically in
the estate
• Taxable transfers
• Claims against insolvent persons
• Exemptions and exclusions from estate tax
• Valuation of properties in the gross estate
Business Taxation
Course Outline
Week 4-5 Ordinary deductions:
• Losses, indebtedness
• Transfers for public purpose
• Vanishing deduction
Special deductions:
• Family home
• Standard deduction
• Amounts received under RA 4917
• Rates of Estate Tax
Business Taxation
Course Outline
Week 6-8 • Share of the surviving spouse in the net
conjugal or community estate, if the
decedent was married
• Property relationship of spouses
• Conjugal partnership of gains
• Absolute community of property
• Gross exclusive properties
• Gross conjugal properties
• Gross estate of married decedents
• Deductions from exclusive properties
• Deductions from conjugal properties
• Deductions from community properties
• Computation of net taxable estate
Business Taxation
Course Outline
Week 6-8 (cont’d) • Estate tax calculation
• Rule of reciprocity
• Estate tax credit
• Reportorial requirements – notice of death,
estate tax return, CPA certificate
• Time and filing of estate tax return
• Time and payment of estate tax
• Venue
• Analyze and determine tax implications of
transactions and by applying the tax rules
and regulations, and formulate sound tax
planning strategies within legal and ethical
bounds to efficiently manage tax liabilities.
Business Taxation
Course Outline
Week 9 MIDTERM EXAMINATION
Business Taxation
Course Outline
Week 10-11 Donor’s Tax
• Nature and concepts of donation
• Types of donation
• Concept of gross gifts –
citizens/residents, nonresident donors
• Valuation of gross gifts
• Exemption from gross gifts
• Rate of donor’s tax
• Computations: donor is not married
and husband & wife donors
• Rule on reciprocity
• Donor’s tax credit
• Filing and payment of tax return
Business Taxation
Course Outline
Week 12-13 Business Taxes
• Introduction to Business Taxes
• Major business taxes in the NIRC: VAT,
Percentage Taxes, Excise Taxes
Value Added Tax

• Nature and scope
• Persons subject to VAT, tax base –
gross selling price, gross receipts,
landed cost, tax rates
• Tax formula
Business Taxation
Course Outline
Week 14-15 • VAT transactions
• VAT on sale of goods or property
• VAT-exempt sales
• Zero-rated sales (export sales and sales to
accredited entities)
• Sources of input tax
• Input VAT refund application
• Compliance requirements
• Return and payment
• Withholding and Remittance
Business Taxation
Course Outline
Week 16 Percentage Taxes
• Nature and characteristics of percentage
tax
• Persons subject to percentage tax
• Transactions subject to and/or exempt
from percentage tax
• Percentage taxes enumerated
• Tax bases and tax rates
• Tax return filing and payment
Business Taxation
Course Outline
Week 17 Taxation under the Local Government Code
• Scope and different types of real
property and local business taxes
• Tax bases and apply the tax rates
• Venue and time of filing tax returns and
time of payment
Other special laws relating to business

taxation
• Senior Citizen’s Law (RA 7432)
• Magna Carta for Disabled Persons (RA
7277)
Business Taxation
Course Outline
Week 18 FINAL EXAMINATION
Submission of reflective essay
Business Taxation
References
References Description
Required Textbook Enrico Tabag and Earl Garcia. Transfer & Business Taxation
(2021). Manila City: EDT Publishing
Suggested Readings and • Edwin Valencia and Gregorio Roxas. Transfer and
References Business Taxation (2018). Baguio City: Valencia
Educational Supply
• Hector de Leon. The Law on Transfer and Business
Taxation (2018). Manila: Rex Printing Company Inc.
• Nick Aduana. Transfer and Business Taxation (2021).
Manila: C & E Publishing
• Rex B. Banggawan. Business and Transfer Taxation
Laws, Principles and Applications (2021). Manila: Rex
Bookstore
• V. Reyes. Philippine Transfer and Business Taxation
(2018). Manila: Conanan Bookstore
• Win Ballada and Susan Ballada (2021). Transfer and
Business Taxation. Manila : DomDane Pub
• NIRC, as amended, and on-line sources (e.g., BIR website)
Part 3
Policies,
Requirements
and
Expectations
Policies and Standards
Classroom Policies
• Be prepared when you come to class. Read/solve assigned problems and
actively participate in class discussions.
• All examinations will be given at a scheduled date.
FEU Academic Dishonesty

• Students are expected to be academically honest. Cheating,
lying, and other forms of immoral and unethical behavior will
not be tolerated.
Policy on Absences
• The students are allowed only 20% of the total number of hours in a
semester for absences. Hence, the allowed number of absences for
a student enrolled in a 3-unit or 6-unit subject is a maximum of six (6)
absences during the semester.
Course Requirements
01 02 03 04
Assignments Quizzes Practice Set Major Exams

Class Participation
(Homework, Practice Tests,
Recitation, Pre-test) 20%
Grading System 50% Major Departmental

Exam
FG = 50% MG + 50% FG
Quizzes 30%
LEGEND:
Formative Assessment
Summative Assessment
Transmutation of Final Grade
Final Grade Letter Grade Quality Point Range
92 – 100 A 4.0 3.80 – 4.0
85 – 91 B+ 3.5 3.30 – 3.79
78 – 84 B 3.0 2.80 – 3.29
71 – 77 C+ 2.5 2.30 – 2.79
64 – 70 C 2.0 1.80 – 2.29
57 – 63 D+ 1.5 1.30 – 1.79
50 – 58 D 1.0 1.0 – 1.29
F .99 and lower
Expectations
• Read and understand the assigned topic prior to classroom
discussion. You are highly encouraged to raise questions during the
class.
• Do not distribute copies of learning materials to anyone outside of our

learning circle.
• Consider utilizing the messaging function in Teams/Canvas for

questions, concerns, etc.
Questions?
Thank you!

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Introduction

Policies, Requirements and

► With over eight years of meaningful experience in

► He passed the CPA Licensure Examination on

► His MBTI personality type is ESFP-A.

► Some guiding questions:

► What are your hobbies?

► Which Netflix/Viu/Apple TV series is/are you currently binge watching?

► Who is/are your favorite artist/s?

► Do you like Taxation?

The policy underpinnings of wealth transfer taxation, and the reasons

Remedies shall also be covered in this course. At the end of the

• Overview of the Philippine Tax System

• Application of the TRAIN Law

• Succession and donation – defined

• Concepts of terminologies in succession

• Wills: Holographic and notarial

• Concept of legitime, testacy and intestacy

Value Added Tax

Other special laws relating to business

FEU Academic Dishonesty

Assignments Quizzes Practice Set Major Exams

Grading System 50% Major Departmental

• Do not distribute copies of learning materials to anyone outside of our

• Consider utilizing the messaging function in Teams/Canvas for

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