Unit 12 Session 1

8/3/2019 Unit 12 Session 1

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UNIT 12

TAXATION


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Unit 12Unit 12 TaxationTaxation

Name of Assessor (s): Ryk Ramos

Name of Internal Verifier: Leo Anoche


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TopicsTopics

Class room procedures

Levelling of Expectations

Scheme of Work

Title Page

Assignment Body

Individualand Group AssignmentsHarvard ReferencingSystem

Book References

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Class Room ProceduresClass Room Procedures


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Levelling of ExpectationsLevelling of Expectations


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Scheme of WorkScheme of Work

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Week Topics To Be Covered Mode Remarks

1a

y Class room procedures

y

Levelling of Expectationsy Scheme of Work

y Title Page

y Assignment Body

y Grouping

y Individualand Group Assignments

y Harvard ReferencingSystemy Book References

Orientation

/Planning

Session

1b Review of Last session

Test of baseline knowledge

Purpose and types of taxation

Different Methods of collection

Tax Legislation

Explain the

nature and

purpose of

taxation


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2a

Review ofLast session

Test of b

ase

line know

ledge

Transactions with the BIR

Advising Clients

Calculating liabilities

Confidentiality

Group

Presenta

tion/

Lecture/

Class

Discussio

n

Explain the

rolea

ndresponsibiliti

es of the tax

practitioner

2b Review ofLast session


The NationalInternal

Revenue Code

Tax Procedure in the

Philippines

Describe the

Philippine

Tax

Environment


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3a



Sources ofIncome ofan individual Cash

In- kind

Trading

Investment/ Savings

Group

Presentatio

n/Lecture/

Class

Discussion

Identify the

relevant

income,expenses, and

allowances

3b Review ofLast session


Relevant and allowable expenses

Charges on income

Payments to charities

Tax free allowances

Tax rates

Payment dates

Group

Research

Calculate

taxable amount

and the tax

payable for

employed, self-

employed

individuals, and

advise on

payment dates


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4a



Bases ofassessment Adjustments of profits and losses

Disallowed expenses

TaxLosses

Capital expenses and allowances

Tax Forms

Group

Presentatio

n/Lecture/

Class

Discussion

Complete

relevant

documentationand returns`

4b

y Consultation for Draft Assignment 1


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5a

y Finalization ofAssignment and

Submission

Power point

and se

atwork.

Deadline for

submission of

final

assignment12-01

5b



Bases ofassessment Scope ofCorporate Tax

Accounting periods

Chargeable profits

Payment Dates

Calculate

chargeable

profits andlosses for a

company and

advise on

payment

dates


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6a


Test of baseline knowledge Documentation requirements

Filling-up ofIncome Tax

Returns

Group

Presentation/

Lecture/

Class

Discussio

n

Calculate the

taxliability ofa company

and advise on

payment

dates

6b



Income Tax Deductions

Treatment oflosses

Explain how

income tax

deductions

are to bedealt with


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7a



Incidence of

Capit

alGa

ins Chargeable assets and

disposals

Basis ofAssessment

Treatment of Deductions

Group

Presentat

ion/Lecture/

Class

Discussio

n

Identify

chargeable

a

ssetsa

nddisposals for

an individual

or company

7b



Layout of computation

Allow

a

ble E

x

penditure Indexation allowance and

taper relief

Dealing with losses

Allowances

Calculate the

capital gains

and losses for

a

n individual

and company,

together with

relevant

allowances


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8a



Tax form used

Tax rates

Calculating the tax payable

Reporting Period

Group

Presentati

on/

Lecture/

Class

Discussio

n

Calculate the

tax payable in

respect of

capital gains

8b

y Consultation for Draft

Assignment 1


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9a

y Finalization ofAssignment Submission

of DraftUnit 12- 01

Assignment

9b

y Submission ofAssignment Submission

of Final

Unit 12- 01

Assignment


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TITLE PAGE

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Assignment Body

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Writing Rules

Text font Arial 12 points.

Alignment should be justified

Double spacing

Left and top margins should be set to 1 inch.

Right and bottom margins should be set to 1

inch.

Page numbers should be centered down

End noting should be applied.

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Assignments

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Individual Assignments Assignments shall be provided next week

Drafts can be submitted 1 week before due

dates

Draft proposals shall be discussed during

scheduled consultations

Final papers shall be entertained on or before

due dates

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Assignments

Word-process the document using 12 point Arial or TimesNew Roman Script

Use the Harvard referencing

End noting must be strictly observed

Be careful of PLAGIARISM - acknowledge materials orresearch

Evidences of research must be present to supportassignments (minimum of 2 books and references)

Any computations must be done using Microsoft Exceland placed at the appendix

Survey questionnaires, answered forms, proposed formsare also part of the appendixGo TopGo Top


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Assignments Late work will only obtain a highest grades of PASS

should it meet all the assessment criteria indicated

A referred assignment has to be completed at theend of the term. Work is automatically referred on

the last week.

A student with a failed assignment must repeat that

assignment on the next occasion the unit is taught.

A student who incurs at least 2 failed assignments

shall repeat the entire unit when it is next offered.Go TopGo Top


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Ha

rva

rd ReferencingS

ystem

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Book References

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Homer A and Burrows R Tolleys Tax Guide

(Tolley Publishing) ISBN: 0754521532

Melville A Taxation (FT Prentice Hall) ISBN:

0273673130

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End ofSession


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Topics for Research

Purpose and types of taxation

income tax corporation tax

capital gains tax

inheritance tax different methods of collection

taxlegislationGo TopGo Top


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RequiredDescribe the Philippine tax

environmentGet a book on Taxation

Get a copy of the NIRC

Be Familiar with the BIR.gov.phsite

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Documents

Unit 12 Session 1