L-NU AA 30-00-01-20

LYCEUM-NORTHWSTERN UNIVERSITY
Dagupan City

COLLEGE OF BUSINESS EDUCATION

LEARNING PACKET

Course Title/Code : BA 4 | Income Taxation Academic Year : 2020 – 2021

Name of Faculty : Judy Anne T. Ramirez, CPA Semester : Second
Instructor’s Email : [email protected] Class Schedule : MWF 2:00PM-3:00PM; TTh 1PM-2:30PM
Course Credit : Lecture = 3 units Contact Number : 0966-466-7513
Prerequisite : None Online Consultation Hours :
Google Classroom Code : yy7u6bq/ayco6qg

Course Description:

This introductory taxation course is primarily concerned with income taxation. Topics include the basic principles and rules of the income tax system as these apply to
individuals, partnerships and corporations. Likewise, topics also cover the income taxation of employees and unincorporated and incorporated businesses, capital gains tax, final
tax on certain passive income and the year-end tax. The course also includes special topics like the minimum corporate income tax, fringe benefits tax, improperly accumulated
earnings tax and withholding taxes.

This course is an in-depth study of income taxation where student will have their initial exposure to the Philippine income tax system. The course is divided into five main
topics: General Principles of Taxation, Income tax patterns, Taxes on Partnerships and Trusts, Gross Income, Fringe Benefits, and Allowable Deductions. This introductory
taxation course is primarily concerned with income taxation. The objective is to develop a working knowledge on basic principles and rules of the income tax system in the
Philippines as they apply to individuals, partnerships and corporations. It covers an overview of national tax system, and the income taxation of employees and unincorporated
business and incorporated businesses. It provides the student with knowledge of capital gains tax, final tax on certain passive income and the year-end tax including minimum
corporate income tax, improperly accumulated earnings tax and normal income tax of corporations and withholding taxes. This must also include the administrative proceedings
for BIR review such as responding to letter of assessments, next step after the response, alternative courses of actions, etc.

Program Outcomes:
1. Resolve complex taxable transactions applicable to individuals, partnerships, and corporations.
2. Conduct thorough research on the rulings issued by the Commissioner to keep abreast of the recent tax laws.
3. Employ logical tax advices to legally minimize the tax due.
4. Apply knowledge and skills that will successfully implement the tax requirements to reduce compliance issues on a taxpayer and to assist the government in generating its
sources of revenue for the expenditures necessary for public purpose and improvement.
5. Confidently maintain a commitment to good corporate citizenship, social responsibility and ethical practice in performing functions as an accountant.

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Course Outcomes:
1. Describe the nature, basis and objective of taxation.
2. Recognize the categories of income and state the tax rates to be used by each type of individual taxpayer.
3. List the sources of passive income.
4. Define and compute taxable income and tax due.
5. State the sources of income of corporate taxpayer.
6. Compute the quarterly corporate income tax.

Introduction:

This learning packet for Income Taxation is designed to help you understand the objectives and purpose of taxation to the state, the definition, nature and basis of taxation, the
Philippine income tax system and how different income of different taxpayers are computed.

General Guidelines:

This section tells you the general guidelines for completing this learning packet. For specific guidelines and information, kindly review your student manual or your module guide
(if applicable).

1. The class code for Google Classroom specific for this course is to be given by your instructor during the class orientation.
2. Schedule properly your reading assignments and your activity accomplishments.
3. Make sure that you do things one at a time. Read the materials and watch the videos over and over until you are able to get the point of the lesson
4. You will be assessed through formative and summative methods. Kindly see requirements section at the end of this learning packet.
5. You are expected to submit your activities/ exams on the dates indicated in this learning packet. Late submission of activities/ exams will be dealt based on classroom
policies.
6. Your scores for assignments will be notified to you throughout your period of study.
7. You can learn a great deal from discussing aspects of your learning packet with others. Opinions and insights formed while discussing with other people are no less
valuable than those you form while reading books or listening to lectures. There’s nothing wrong in discussing with your classmates but it should be done before you begin
your individual activities. But when you sit down and do individual activities you are expected to work alone and not to use the work of others (in its entirety or in part) as if
it is your own.
8. The instructor checks your assignments against the work of other students and against internet sources and other published material. If you submit an assignment that
contains work that is not your own without proper referencing and claiming the work of other as your own, you are committing plagiarism. Plagiarism is a form of academic
dishonesty punishable by several guidelines (See student handbook).
9. If you have concerns, kindly communicate with your instructor using the contact information given in this learning packet.
10. If it is not possible to participate in an online discussion due to internet problems, just save your answers in a digitized format in a USB flash drive then send it thru courier
at Lyceum-Northwestern University College of Information and Computing Science, Tapuac District, Dagupan City, Pangasinan or drop it thru the designated drop-boxes
at the university.

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Summary of Course Content:

Unit 1 – Introductory Concepts

Introductory to Taxation
Taxes, Tax Laws, and Tax
Introduction to Income Taxation

Unit 2 – Income Recognition, Measurement and Reporting, and Taxpayer Classifications

Tax Schemes, Periods, Methods, and Reporting

Unit 3 – Special Income Taxation

Final Income Taxation
Capital Gains Taxation

Unit 4 – Regular Income Taxation

Introduction to Regular Income Taxation
Regular Income Taxation – Exclusions in Gross Income
Regular Income Taxation – Inclusions in Gross Income

Unit 5 – Special Rules on Gross Income

Compensation Income
Fringe Benefits Taxation
Dealings in Properties
Principles of Deductions
Regular Allowable Itemized Deductions
Special Allowable Itemized Deductions and Net Operating Loss Carry-Over
Optional Standard Deduction

Unit 6 – Specific Regular Tax Rules per Taxpayer Class

Individual Income Taxation
Corporate Income Taxation - Special Corporations
Corporate Income Taxation - Regular Corporations

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Unit 7 – Special Topics

Remedies
Compliance Requirements
Preferential Taxation

Study Schedule (ASSURE Model)

Week Topic Learning Outcomes Activities

January 13, 2021 Class Orientation Join the online session using Google Meet
January 14, 2021 Class Orientation Join the online session using Google Meet
Unit 1 – Introductory Concepts
Week 1: Topic: Introduction to Taxation
January 18 & 22, 2021 1. Definition of taxation. A – Analyze the Learners
January 19 & 21, 2021 2. Enumerate the theories of cost allocation. 1. Google classroom activity: Partake in the online discussion on your background and
3. Discuss the lifeblood doctrine. expectations about Introduction to Taxation.
4. Enumerate the inherent powers of the State.
S – State Standards or Objectives
5. Describe the scope of taxation.
Please see topic learning outcomes
6. Understand the inherent and constitutional
limitations. S – Select Strategies
7. Analyze the stages of taxation. The following teaching strategies will be used in this topic:
8. Discuss the concept of situs of taxation. 1. Asynchronous online learning – participation in online discussion, answering guide questions
9. Enumerate various escapes from taxation. and viewing uploaded videos in Google Classroom
10. Differentiate tax amnesty from tax 2. Synchronous online learning – joining the online class thru Google Meet
condonation. 3. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation,2019 Edition from pages 1 to 20.
1. After reading your book you should be able to answer the following guide questions:
a. What are the theories of government cost allocation? Explain each.
b. Describe the nature, basis, and objectives of taxation.
c. Differentiate the three inherent powers of the State.
d. Explain the principles of a sound taxation system.
e. Identify and explain constitutional and inherent limitations.
f. Describe various sources of taxation laws.
g. Name and describe the situs of taxation and its application.
h. Define tax and describe its essential characteristics.
i. Identify and distinguish classification of taxes.
j. Have a fair knowledge of the sources of tax authority and the sources of tax laws.
k. Describe the powers of the Commissioner of Internal Revenue.
l. Distinguish between income and capital.
2. Attend the online class lecture on this topic on January 18 & 19, 2021 at 1:00PM-2:30PM and
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2:00PM-3:00PM using Google Meet.

R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 21 to 34.
b. Solutions of the chosen exercise problems will be presented on January 21 & 22, 2021,
2:30PM and 3:00PM.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on January
21 & 22, 2021, 2:30PM and 3:00PM.

Optional Task:
1. Review the source materials provided in Google Classroom.
Week 1: Topic 2: Taxes, Tax Laws and Tax Administration
January 20 & 22, 2021 1. Discuss the type of taxation laws. A – Analyze the Learners
January 19 & 21, 2021 2. Distinguish tax laws, revenue regulations 1. Google classroom activity: Partake in the online discussion about Taxes, Tax Laws, and Tax
and rulings. Administration.
3. Describe tax, its elements and
S – State Standards or Objectives
classifications.
Please see topic learning outcomes
4. Compare tax from similar items.
5. Understand tax system and its types. S – Select Strategies
6. Enumerate the principles of a sound tax The following teaching strategies will be used in this topic:
system. 1. Asynchronous online learning – participation in online discussion, answering guide questions
7. Discuss how tax is administered. and viewing uploaded videos in Google Classroom
8. Enumerate the powers of the Bureau of 2. Synchronous online learning – joining the online class thru Google Meet
Internal Revenue (BIR) and the 3. Offline learning – reading and self-study of printed resources
Commissioner of Internal Revenue (CIR)
and the non-delegated powers of the CIR. U – Utilize Technology, Media and Materials
9. Explain the criteria for selection of large Read your main reference book Rex Banggawan, Income Taxation,2019 Edition from pages 35 to 51.
taxpayers. 1. After reading your book you should be able to answer the following guide questions:
a. Distinguish tax law from tax exemption law.
b. Enumerate the sources of tax laws.
c. Discuss the nature of Philippine tax law.
d. Distinguish tax laws, revenue regulations, and rulings.
e. Define tax and identify its elements.
f. What are the classification of taxes?
g. Enumerate and provide examples for each classification.
h. Compare tax with revenue, license, toll, debt, special assessment, tariff, and penalty.
i. What is a tax system?
j. What are the types of a tax system?
k. Enumerate the principles of a sound tax system.
l. Provide an explanation on the principles of a sound tax system.

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m. Enumerate the powers of the BIR.

n. Enumerate the non-delegated powers of the CIR.
2. Attend the online class lecture on this topic on January 20 & 21, 2021 at 1:00PM-2:30PM and
2:00PM-3:00PM using Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 52 to 62.
b. Solutions of the chosen exercise problems will be presented on January 21 & 22, 2021,
2:30PM and 3:00PM using Google Classroom.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on January
21 & 22, 2021, 2:30PM and 3:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
Week 2: Topic 3: Introduction to Income Taxation
January 25 & 27, 2021 1. Discuss the concept of gross income. A – Analyze the Learners
January 26 & 28, 2021 2. Enumerate the types of income taxpayers. 1. Google classroom activity: Partake in the online discussion on your background and
3. Understand the general rules in income expectations about Introduction to Income Taxation.
taxation.
S – State Standards or Objectives
4. Analyze the income tax situs rules.
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Asynchronous online learning – participation in online discussion, answering guide questions
and viewing uploaded videos in Google Classroom
2. Synchronous online learning – joining the online class thru Google Meet
3. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation,2019 Edition from pages 63 to 82.
1. After reading your book you should be able to answer the following guide questions:
a. Enumerate the characteristics of gross income.
b. What are capital items considered with infinite value. Enumerate.
c. When is income considered realized? Distinguish exchange from transfer.
d. What is a complex transaction? How is it taxed?
e. What is a holding gain? Why is it exempt from taxation?
f. Compare actual receipt with constructive receipt.
g. Enumerate and explain the classifications of individual taxpayers.
h. Discuss the taxability of each class of taxpayers.
i. Explain situs. Differentiate situs from source of income.
2. Attend the online class lecture on this topic on January 25 & 26, 2021 at 1:00PM-2:30PM and
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2:00PM-3:00PM using Google Meet.

R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 83 to 99.
b. Solutions of the chosen exercise problems will be presented on January 27 & 28, 2021,
2:30PM and 3:00PM using Google Classroom.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on January
27 & 28, 2021, 2:30PM and 3:00PM.

Optional Task:
1. Review the source materials provided in Google Classroom.
Unit 2 – Income Recognition, Measurement and Reporting, and Taxpayer Classifications
Week 2: Topic 1: Income Tax Schemes, Accounting Periods, Accounting Methods and Reporting
January 28, 2021 1. Enumerate types of taxation schemes and A – Analyze the Learners
January 29, 2021 their scope. 1. Google classroom activity: Partake in the online discussion on your background and
2. Discuss the concept of accounting period expectations about Tax Schemes, Accounting Periods, Accounting Methods and Reporting.
Week 3: and its types.
S – State Standards or Objectives
February 2, 2021 3. Discuss the concept of accounting methods
Please see topic learning outcomes
and their accounting procedures.
February 1 & 3, 2021
4. Enumerate the types of tax returns, their S – Select Strategies
deadline and place of filing. The following teaching strategies will be used in this topic:
1. Asynchronous online learning – participation in online discussion, answering guide questions
and viewing uploaded videos in Google Classroom
2. Synchronous online learning – joining the online class thru Google Meet
3. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation,2019 Ed. from pages 100 to 123.
1. After reading your book you should be able to answer the following guide questions:
a. What are the three income taxation schemes? Briefly discuss the scope of each.
b. Discuss the nature of final income taxation.
c. What are ordinary assets? Compare them with capital assets.
d. What capital gains are subject to capital gains taxation?
e. What are the special features of regular income taxation?
f. Enumerate the instances wherein short accounting period will arise.
g. What are the tax accounting methods in reporting income? Briefly explain each.
h. What are the two types of income tax return?
2. Attend the online class lecture on this topic on January 28 & 29 and February 1 & 2, 2021 at
1:00PM-2:30PM and 2:00PM-3:00PM using Google Meet.
R – Require Learner Participation
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1. Individual activity
a. Answer the exercise drills from pages 124 to 134.
b. Solutions of the chosen exercise problems will be presented on February 2 & 3, 2021 using
Google Classroom, 2:30PM and 3:00PM
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on February
2 & 3, 2021, 2:30PM and 3:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.

Answer the 40-item exam that will be posted in the Google Classroom
February 4 & 5, 2021 Preliminary Exam Start Time: 1:00PM and 2:00 PM | Due Time: 2:30PM and 3:00 PM
Unit 3 – Special Income Taxation
Week 4: Topic 1: Final Income Taxation
February 8 & 10, 2021 1. Understand and appreciate the features and A – Analyze the Learners
February 9 & 11, 2021 scope of final tax. 1. Google classroom activity: Partake in the online discussion on your background and
2. Master certain passive income subject to expectations about Final Income Taxation.
final tax and their corresponding final tax S – State Standards or Objectives
rates. Please see topic learning outcomes
3. Master the general final tax rates on certain
non-residents and their exceptions. S – Select Strategies
4. Comprehend the other applications of the The following teaching strategies will be used in this topic:
final income tax scheme. 1. Asynchronous online learning – participation in online discussion, answering guide questions
and viewing uploaded videos in Google Classroom
2. Synchronous online learning – joining the online class thru Google Meet
3. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation,2019 Ed. from pages 135 to 154.
1. After reading your book you should be able to answer the following guide questions:
a. What are the features of final income taxation?
b. Explain withholding at source.
c. Enumerate the passive income subject to final tax and their corresponding tax rates.
d. What are the two types of taxpayers who are subject to final tax rates on all income from
within the Philippines?
e. What are the general tax rates applicable to each?
f. Enumerate the requisites of the tax informer’s reward.
g. Discuss the procedures and deadline in remitting the final withholding taxes.
2. Attend the online class lecture on this topic on February 8, 2021 at 2:00PM-3:00PM using
Google Meet.
R – Require Learner Participation
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1. Individual activity
a. Answer the exercise drills from pages 155 to 166.
b. Solutions of the chosen exercise problems will be presented on February 9 & 10, 2021
c.
using Google Classroom, 2:30PM and 3:00PM.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google Classroom on February
9 & 10, 2021, 2:30 PM and 3:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
Week 4: Topic 2: Capital Gains Taxation
February 12, 2021 1. Identify and distinguish ordinary assets and A – Analyze the Learners
capital assets. 1. Google classroom activity: Partake in the online discussion on your background and
Week 5: 2. Recite the asset classification rules. expectations about Capital Gains Taxation.
February 15, 2021 3. Memorize the two types of capital gains
S – State Standards or Objectives
February 16 & 18, 2021 subject to capital gains tax and their
Please see topic learning outcomes
corresponding tax rates and tax bases.
4. Master the procedural computations of the 5 S – Select Strategies
and 10% capital gains tax and the 6% The following teaching strategies will be used in this topic:
capital gains tax. 1. Asynchronous online learning – participation in online discussion, answering guide questions
5. Master the rules on wash sales and tax-free and viewing uploaded videos in Google Classroom
exchanges. 2. Synchronous online learning – joining the online class thru Google Meet
6. Master the exceptions to the 6% capital 3. Offline learning – reading and self-study of printed resources
gains tax. U – Utilize Technology, Media and Materials
7. Memorize the documentary stamp tax Read your main reference book Rex Banggawan, Income Taxation,2019 Ed. from pages 167 to 203.
imposed on the sale of stocks and real 1. After reading your book you should be able to answer the following guide questions:
properties. a. What are ordinary assets and capital assets?
b. Enumerate and discuss ordinary assets and capital assets.
c. Enumerate the two types of capital assets subject to capital gains tax.
d. What are the transactions considered as “other disposition” of domestic stocks?
e. What transactions are not recorded as “other dispositions”?
f. Discuss the rules on tax basis of stocks acquired by purchase, inheritance, donation, for an
inadequate consideration, and under a tax-free exchange.
g. Enumerate the methods in costing stocks in order of priority.
h. Discuss the compliance requirements of the two-tiered capital gains tax.
i. Explain the concept of a wash sale.
j. Enumerate and discuss the tax-free exchanges.
k. What are the criteria of alternative taxation to the 6% capital gains tax?
l. Enumerate the exemption requirements to the 6% capital gains tax.
m. Discuss the nature of the 6% capital gains tax.
n. Compare the taxpayers covered by the 15% capital gains tax and the 6% capital gains tax.
2. Attend the online class lecture on this topic on February 12 & 16, 2021 at 1:00PM-2:30PM and
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2:00PM-3:00PM using Google Meet.

R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 204 to 220.
b. Solutions of the chosen exercise problems will be presented on February 15 & 18, 2021
using Google Classroom, 2:30PM and 3:00PM.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on February
15 & 18, 2021, 2:30PM and 3:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
Unit 4: Regular Income Taxation
Week 5: Topic 1: Introduction to Regular Income Taxation
February 17 & 19, 2021 1. Discuss the scope of regular income and its A – Analyze the Learners
tax model. 1. Google classroom activity: Partake in the online discussion on your background and
Week 6: 2. Enumerate the features of the regular expectations about Introduction to Regular Income Taxation.
February 23, 2021 income tax.
S – State Standards or Objectives
3. Describe the concept of inclusion and
Please see topic learning outcomes
exclusions from gross income.
4. Enumerate the types of gross income S – Select Strategies
subject to regular tax. The following teaching strategies will be used in this topic:
5. Explain the concept of deduction and 1. Asynchronous online learning – participation in online discussion, answering guide questions
personal exemption. and viewing uploaded videos in Google Classroom
6. Explain the concept of deductions compared 2. Synchronous online learning – joining the online class thru Google Meet
to personal exemptions. 3. Offline learning – reading and self-study of printed resources
7. Calculate the measurement of gross income
from employment and business and the U – Utilize Technology, Media and Materials
treatment of other income. Read your main reference book Rex Banggawan, Income Taxation,2019 Ed. from pages 221 to 238.
8. Discuss the concept of operating income or 1. After reading your book you should be able to answer the following guide questions:
revenue and the difference in tax a. Discuss the scope of the regular income tax especially on passive income and capital
presentation of individuals and corporate gains.
taxpayers. b. Enumerate the characteristics of the regular income tax.
9. Analyze the procedural computation of c. What are exclusion in gross income?
taxable income of corporations and different d. Distinguish allowable deductions from personal exemption.
individual taxpayers. e. Demonstrate the computation of the gross income from employment and the gross income
10. Compute the regular tax for individuals and from business or exercise of a profession.
corporations. f. How is cost of goods sold determined?
11. Determine the deadline of the regular tax g. What are included in the cost of services?
returns. h. What composes the compensation income of a rank and file employee and a managerial
12. Analyze the applicability of the quarterly and supervisory employee?
i. How does the tax presentation of the composition of gross income in the tax return differ
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between individuals and corporate taxpayers?

j. Distinguish “other taxable income from operations” from non-operating income.
k. Distinguish revenue from sales, fees, and receipt.
l. Discuss how the taxable income of the following is determined:
 Corporate taxpayer
 Purely compensation earner
 Purely business or professional income earner
 Mixed income earner
m. Discuss the treatment of net loss from business or exercise of profession.
n. What are the deadlines of the quarterly regular income tax for individuals and corporations?
2. Attend the online class lecture on this topic on February 17 & 23, 2021 at 1:00PM-2:30PM and
2:00PM-3:00PM using Google Meet.
filing and its deadlines.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 221 to 238.
b. Solutions of the chosen exercise problems will be presented on February 19 & 23, 2021
using Google Meet, 2:30PM and 3:00PM.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on February
19 & 23, 2021, 2:30PM and 3:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
Week 6: Topic 2: Regular Income Taxation - Exclusions in Gross Income
February 22 & 24, 2021 1. Master the list of exclusions from gross A – Analyze the Learners
February 25, 2021 income. 1. Google classroom activity: Partake in the online discussion on your background and
2. Comprehend the exclusion conditions or expectations about Regular Income Taxation – Exclusions in Gross Income.
limitations of certain items of income.
S – State Standards or Objectives
3. Understand the list of entities exempt under
Please see topic learning outcomes
the NIRC and special laws.
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Asynchronous online learning – participation in online discussion, answering guide questions
and viewing uploaded videos in Google Classroom
2. Synchronous online learning – joining the online class thru Google Meet
3. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation,2019 Ed. from pages 249 to 263.
1. After reading your book you should be able to answer the following guide questions:
a. Enumerate the exclusions from gross income.
b. What capital items are considered with infinite value?
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c. Enumerate the exclusion conditions of retirement benefits.

d. Discuss the exclusion condition of termination benefits.
e. Discuss the rules on taxation of prizes.
f. Enumerate the exclusions from gross compensation income in the determination of gross
taxable compensation income.
g. Who is a minimum wage earner?
h. Enumerate the benefits of minimum wage earners exempt from income tax.
i. What is a BMBE?
j. What are the exemption conditions of an employee trust fund?
2. Attend the online class lecture on this topic on February 22 & 25, 2021 at 1:00PM-2:30PM and
2:00PM-3:00PM using Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 264 to 275.
b. Solutions of the chosen exercise problems will be presented on February 24 & 25, 2021
using Google Meet, 2:30PM and 3:00PM.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on February
24 & 25, 2021, 2:30PM and 3:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
Week 6: Topic 3: Regular Income Taxation - Inclusions in Gross Income
February 26, 2021 1. Master the NIRC list of items of gross A – Analyze the Learners
income subject to regular tax and their 1. Google classroom activity: Partake in the online discussion on your background and
Week 7: measurement rules. expectations about Regular Income Taxation - Inclusions in Gross Income.
March 1, 2021 2. Knowledge of the boundary between income
subject to final tax or capital gains tax and S – State Standards or Objectives
March 2, 2021 Please see topic learning outcomes
those subject to regular income tax.
3. Knowledge of the link between items of S – Select Strategies
exempt income and income subject to The following teaching strategies will be used in this topic:
regular income tax. 1. Asynchronous online learning – participation in online discussion, answering guide questions
4. Comprehension of the effect of accounting and viewing uploaded videos in Google Classroom
methods and situs rules on the reportable 2. Synchronous online learning – joining the online class thru Google Meet
amount of gross income. 3. Offline learning – reading and self-study of printed resources
5. Knowledge of the treatment of creditable
withholding tax. U – Utilize Technology, Media and Materials
6. Understand the treatment of income from Read your main reference book Rex Banggawan, Income Taxation,2019 Ed. from pages 276 to 299.
pass-through entities. 1. After reading your book you should be able to answer the following guide questions:
7. Master the rules on recoveries of past a. Enumerate the NIRC list of items of gross income.
deductions. b. What are the broad categories of gross income?
c. Discuss in detail the taxation of interest income. Which is subject to final tax? Which is
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subject to regular income tax?

d. Discuss the treatment of gains from dealings in properties. Which gains are subject to
capital gains tax? Which gains are subject to regular income tax?
e. Discuss the taxation of dividends, prizes, and winnings.
f. Compare actual distribution and the share in the net income of the partnership. Which one
is included in the gross income of the partner?
g. Discuss the taxability of recoveries of past deductions.
h. Enumerate examples of pass-through entities. Are they taxable to final tax, capital gains
tax or regular income tax?
i. Enumerate and discuss the transfer pricing methods.
2. Attend the online class lecture on this topic on February 26 and March 2, 2021 at 1:00PM-
2:30PM and 2:00PM-3:00PM using Google Meet.
8. Appreciate the essence and purposes of
R – Require Learner Participation
transfer pricing regulation.
1. Individual activity
a. Answer the exercise drills from pages 300 to 316.
b. Solutions of the chosen exercise problems will be presented on March 1 & 2, 2021 using
Google Meet, 2:30PM and 3:00PM.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on March 1 &
2, 2021, 2:30PM and 3:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
Unit 5: Special Rules on Gross Income
Week 7: Topic 1: Compensation Income
March 3 & 5, 2021 1. Understand the concept of an employer- A – Analyze the Learners
March 4, 2021 employee relationship. 1. Google classroom activity: Partake in the online discussion on your background and
2. Knowledge of the classifications of expectations about Compensation Income.
employees and the tax treatment of their
S – State Standards or Objectives
compensation income and fringe benefits.
Please see topic learning outcomes
3. Master the list of employee benefits
exempted under the NIRC and special laws S – Select Strategies
and the de minimis list. The following teaching strategies will be used in this topic:
4. Knowledge of the condition for exemption of 1. Asynchronous online learning – participation in online discussion, answering guide questions
employee benefits under treaty or and viewing uploaded videos in Google Classroom
international agreements. 2. Synchronous online learning – joining the online class thru Google Meet
5. Understand the concept of “employer 3. Offline learning – reading and self-study of printed resources
convenience” rule and the “necessity of the
employer” rule. U – Utilize Technology, Media and Materials
6. Understand the conditions of exemption of a Read your main reference book Rex Banggawan, Income Taxation, 2019 Ed. from pages 317 to 347.
minimum wage earner. 1. After reading your book you should be able to answer the following guide questions:
a. Enumerate and explain the elements of an employer-employee relationship.
13
L-NU AA 30-00-01-20

b. What are the types of employees as to function and taxability? Enumerate and explain.
c. Who are minimum wage earners? Enumerate their exempt benefits.
d. Demonstrate the tax model on compensation income.
e. What are the classifications of the compensation income? Discuss each.
f. Enumerate the general classes of non-taxable benefits.
g. Enumerate the list of de minimis benefits and their respective thresholds.
h. Explain the “necessity of the employer” rule and the “convenience of the employer” rule.
i. Distinguish regular compensation from supplemental compensation.
j. Enumerate and explain the components of “13th month pay and other benefits”
k. Discuss the difference in tax treatment of the “other fringe benefits” of rank and file
employees and managerial or supervisory employees.
l. Discuss the tax treatment of “13th month pay and other benefits”
2. Attend the online class lecture on this topic on March 3 & 4, 2021 at 1:00PM-2:30PM and
7. Knowledge of classification rules for items of 2:00PM-3:00PM using Google Meet.
gross taxable compensation income. R – Require Learner Participation
8. Master the composition of “13 th month pay 1. Individual activity
and other benefits” for rank and file a. Answer the exercise drills from pages 348 to 361.
employees and managerial or supervisory b. Solutions of the chosen exercise problems will be presented on March 4 & 5, 2021 using
employees. Google Meet, 2:30PM and 3:00PM.
9. Comprehend the fringe benefits subject to
regular tax and fringe benefits subject to E – Evaluate
fringe benefits tax. 1. Answer a quiz assignment on this topic which will be posted in Google classroom on March 4 &
5, 2021, 2:30PM and 3:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
Week 8: Topic 2: Fringe Benefit Taxation
March 8 & 10, 2021 1. Understand the nature of fringe benefits. A – Analyze the Learners
March 9, 2021 2. Appreciate the convenience of the employer 1. Google classroom activity: Partake in the online discussion on your background and
rule and hybrid expense. expectations about Fringe Benefit Taxation.
3. Distinguish exempt benefit, partially exempt,
S – State Standards or Objectives
and fully taxable fringe benefits.
Please see topic learning outcomes
4. Understand the scope of the final fringe
benefit tax. S – Select Strategies
5. Demonstrate knowledge of the The following teaching strategies will be used in this topic:
characteristics of fringe benefits tax. 1. Asynchronous online learning – participation in online discussion, answering guide questions
6. Understand the procedures of fringe benefit and viewing uploaded videos in Google Classroom
tax computation. 2. Synchronous online learning – joining the online class thru Google Meet
7. Comprehend the general rules on monetary 3. Offline learning – reading and self-study of printed resources
value. U – Utilize Technology, Media and Materials
8. Comprehend the monetary values as Read your main reference book Rex Banggawan, Income Taxation, 2019 Ed. from pages 362 to 381.
applied to actual scenarios. 1. After reading your book you should be able to answer the following guide questions:

14
L-NU AA 30-00-01-20

a. Enumerate the components of taxable compensation income.

b. Discuss the general categories and two tax treatments of fringe benefits.
c. What types of employee benefits are subject to the fringe benefit tax?
d. Discuss the 50% rule on hybrid expenses.
e. What are the two exceptions to the 50% rule?
f. Enumerate the fringe benefits exempt from the fringe benefits tax.
g. Enumerate and discuss the characteristics of the fringe benefit tax.
h. Enumerate the procedures in computing the fringe benefit tax.
i. Discuss the general rules on monetary value.
j. List the fringe benefit tax rates and grossed-up rates for each type of taxpayer.
k. Discuss the accounting entries to record the fringe benefit expense and the fringe benefit
tax expense.
2. Attend the online class lecture on this topic on March 8 & 9, 2021 at 1:00PM-2:30PM abd
9. Master the procedures for the computation 2:00PM-3:00PM using Google Meet.
of the fringe benefit tax.
10. Demonstrate knowledge of the list of the R – Require Learner Participation
exempt fringe benefits. 1. Individual activity
a. Answer the exercise drills from pages 382 to 392.
b. Solutions of the chosen exercise problems will be presented on March 9 & 10, 2021,
2:30PM and 3:00PM using Google Meet.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on March 9 &
10, 2021, 2:30PM and 3:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.

Answer the 40-item exam that will be posted in the Google Classroom
March 11 & 12, 2021 Midterm Exam Start Time: 1:00PM and 2:00 PM | Due Time: 2:30PM and 3:00 PM
Week 9: Topic 3: Dealings in Properties
March 15, 17, & 19, 2021 1. Distinguish capital gains subject to regular A – Analyze the Learners
March 16 & 18, 2021 tax from those subject to capital gains tax. 1. Google classroom activity: Partake in the online discussion on your background and
2. Understand what constitutes selling price expectations about Dealings in Properties.
and the rules on tax basis.
S – State Standards or Objectives
3. Understand the tax treatment of gain or loss
Please see topic learning outcomes
on ordinary assets and other capital assets.
4. Master the rules on the measurement of the S – Select Strategies
net capital gain or loss and the rules on net The following teaching strategies will be used in this topic:
capital loss carry over. 1. Asynchronous online learning – participation in online discussion, answering guide questions
5. Comprehend the rules on tax-free and viewing uploaded videos in Google Classroom
exchanges on recognition of gain or loss and 2. Synchronous online learning – joining the online class thru Google Meet
the determination of basis of stocks received 3. Offline learning – reading and self-study of printed resources
in.
U – Utilize Technology, Media and Materials
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L-NU AA 30-00-01-20

Read your main reference book Rex Banggawan, Income Taxation, 2019 Ed. from pages 393 to 418.
1. After reading your book you should be able to answer the following guide questions:
a. Compare ordinary assets with capital assets.
b. Discuss the rules of taxation of gains and losses on ordinary assets and other capital
assets.
c. What is selling price?
d. Enumerate and discuss the rules on tax basis.
e. How do the rules on individual taxpayers and corporate taxpayers differ as to the
measurement of the net capital gain or loss? Explain.
f. Discuss the basis of the 50% rule on other capital assets held long-term by individuals.
g. Explain the limits on the carry-over of capital loss.
h. At what particular securities are the rules of wash sales relevant to regular income tax?
i. Discuss the rules on tax-free exchanges relevant to regular income tax.
j. Discuss how gain is recognized in tax-free exchanges and how basis is determined for the
transferor and the transferee.
6. Master the rules on wash sales as they k. Enumerate the transactions considered exchanges.
relate to capital losses subject to the rules of 2. Attend the online class lecture on this topic on March 15, 16, & 18, 2021 at 1:00PM-2:30PM
regular income tax. and 2:00PM-3:00PM using Google Meet.
7. Be able to interrelate the rules of regular
R – Require Learner Participation
income tax to the rules of capital gains tax.
1. Individual activity
8. Familiarize themselves with the list of
a. Answer the exercise drills from pages 419 to 432.
transactions considered as exchanges.
b. Solutions of the chosen exercise problems will be presented on March 17 & 18, 2021,
2:30PM and 3:00PM using Google Meet.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on March 18
& 19, 2021, 2:30PM and 3:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
Week 10: Topic 4: Principles of Deductions
March 22, 24, & 26, 2021 1. Distinguish business expense from personal A – Analyze the Learners
March 23 & 25, 2021 expense. 1. Google classroom activity: Partake in the online discussion on your background and
2. Understand the concept of an expense and expectations about Principles of Deductions.
a capital expenditure.
S – State Standards or Objectives
3. Know the accounting rules of deduction of
Please see topic learning outcomes
capital expenditure.
4. Master the different depreciation methods S – Select Strategies
and the special considerations on The following teaching strategies will be used in this topic:
deductions. 1. Asynchronous online learning – participation in online discussion, answering guide questions
5. Understand the allocation of common and viewing uploaded videos in Google Classroom
expenses between taxable and non-taxable 2. Synchronous online learning – joining the online class thru Google Meet
operations. 3. Offline learning – reading and self-study of printed resources
16
L-NU AA 30-00-01-20

U – Utilize Technology, Media and Materials

Read your main reference book Rex Banggawan, Income Taxation, 2014 Ed. from pages 418 to 439.
1. After reading your book you should be able to answer the following guide questions:
a. Distinguish a business expense and a personal expense.
b. Distinguish an expense from a capital expenditure.
c. Discuss how depreciable and non-depreciable assets are expensed.
d. Explain the inventory method for inventories and supplies.
e. Enumerate the common depreciation methods used in practice. Distinguish how
depreciation is computed under each method.
f. How are intangible assets expensed?
g. Illustrate the computation of the cost of goods manufactured and sold.
h. Discuss how repairs and asset-related acquisition costs are accounted for.
i. How does accrual expense and cash basis expense differ?
j. Enumerate and discuss the four general principles of deductions.
k. How do the terms “ordinary” and “necessary” differ?
l. When do we say an expense is actual?
m. What does “complete and completed transaction” mean?
6. Master the general principles of deductions. n. Explain the matching rule.
7. Familiarize the tax reporting of deductions. o. Who are related parties? Enumerate.
8. Know the modes of claiming deductions p. What are the classifications of deductions in tax reporting?
from gross income. q. How are deductions claimed? Discuss the two modes of deductions.
2. Attend the online class lecture on this topic on March 22 & 23, 2021 at 1:00PM-2:30PM and
2:00PM-3:00PM using Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 440 to 456.
b. Solutions of the chosen exercise problems will be presented on March 24 & 25, 2021,
2:30PM and 3:00PM using Google Meet.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on March 25
& 26, 2021, 2:30PM and 3:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
Week 11: Topic 5: Regular Allowable Itemized Deductions
March 29 & 31, 2021 1. Comprehend the application of the principles A – Analyze the Learners
March 30, 2021 of deductions on each item of deductions. 1. Google classroom activity: Partake in the online discussion on your background and
April 2, 2021 2. Master the deduction conditions, rules and expectations about Regular Allowable Itemized Deductions Regular Allowable Itemized
computational procedures of each items of Deductions.
deductions from gross income.
S – State Standards or Objectives
3. Master the procedures of computing foreign
Week 12: Please see topic learning outcomes
17
L-NU AA 30-00-01-20

S – Select Strategies
The following teaching strategies will be used in this topic:
1. Asynchronous online learning – participation in online discussion, answering guide questions
and viewing uploaded videos in Google Classroom
2. Synchronous online learning – joining the online class thru Google Meet
3. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation, 2014 Ed. from pages 457 to 486.
1. After reading your book you should be able to answer the following guide questions:
a. What are the requisites of a deductible interest?
b. Explain the arbitrage scheme and how to determine the arbitrage limit.
c. Discuss the deductibility of discount interest and the optional capitalization treatment of
interest.
d. Discuss the deductibility of taxes and enumerate the non-deductible taxes.
e. Discuss the computation of foreign tax credit.
f. Discuss the special considerations on depreciation of properties.
g. Discuss the rules on depletion of wasting assets for petroleum and mining companies.
h. Discuss the requisites on deductibility of contributions. Enumerate those fully deductible
April 6, 2021 tax credits.
and partially deductible contributions.
i. What is the limitation on deductibility of contribution expense for corporate taxpayers and
individual taxpayers?
j. Discuss the rules on pension expense and research & development expense.
2. Attend the online class lecture on this topic on March 29 & 30, 2021 at 1:00PM-2:30PM and
2:00PM-3:00PM using Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 487 to 498.
b. Solutions of the chosen exercise problems will be presented on March 31 & April 6, 2021,
2:30PM and 3:00PM using Google Meet.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on April 2 &
6, 2021, 2:30PM and 3:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
Week 12: Topic 6: Special Allowable Itemized Deductions and Net Operating Loss Carry-Over
April 5, 7, & 9, 2021 1. Familiarize the special deductions allowed A – Analyze the Learners
April 8 & 13, 2021 under the NIRC and special laws. 1. Google classroom activity: Partake in the online discussion on your background and
2. Know the requisites and deduction rules of expectations about Special Allowable Itemized Deductions and Net Operating Loss Carry-Over.
the allowable special expenses.
S – State Standards or Objectives
18
L-NU AA 30-00-01-20

Please see topic learning outcomes

S – Select Strategies
The following teaching strategies will be used in this topic:
1. Asynchronous online learning – participation in online discussion, answering guide questions
and viewing uploaded videos in Google Classroom
2. Synchronous online learning – joining the online class thru Google Meet
3. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation, 2014 Ed. from pages 499 to 525.
1. After reading your book you should be able to answer the following guide questions:
a. Distinguish an actual expense with a deduction incentive.
b. Enumerate the special expenses allowed by the NIRC and special laws.
c. Enumerate the deduction incentives allowed by special laws.
d. Demonstrate how NOLCO is measured.
e. What are the conditions for the deductibility of NOLCO?
3. Familiarize the additional deduction f. Explain the rules in the carry-over of NOLCO.
incentives granted by special laws. g. Is NOLCO transferrable? Explain.
4. Master the measurement and carry-over 2. Attend the online class lecture on this topic on April 5 & 8, 2021, at 1:00PM-2:30PM and
rules of Net Operating Loss Carry-Over 2:00PM-3:00PM using Google Meet.
(NOLCO).
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 526 to 533.
b. Solutions of the chosen exercise problems will be presented on April 7 & 13, 2021, 2:30PM
and 3:00PM using Google Meet.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on April 9 &
13, 2021, 2:00PM and 3:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
Week 13: Topic 7: Optional Standard Deduction
April 12 & 14, 2021 1. Understand the nature of the optional A – Analyze the Learners
April 15, 2021 standard deduction (OSD). 1. Google classroom activity: Partake in the online discussion on your background and
2. Know the taxpayers who can claim OSD. expectations about Optional Standard Deduction.
Week 14: 3. Comprehend the concept of operating
S – State Standards or Objectives
April 20, 2021 income or revenue and a non-operating
Please see topic learning outcomes
income for individual taxpayers.
4. Master the computation of the OSD for S – Select Strategies
individual taxpayers and corporate The following teaching strategies will be used in this topic:
taxpayers. 1. Asynchronous online learning – participation in online discussion, answering guide questions
5. Comprehend the rules of OSD for general and viewing uploaded videos in Google Classroom
19
L-NU AA 30-00-01-20

2. Synchronous online learning – joining the online class thru Google Meet
3. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation, 2014 Ed. from pages 534 to 551.
1. After reading your book you should be able to answer the following guide questions:
a. What is optional standard discussion?
b. Who can claim PSD? Who cannot claim OSD?
c. Explain the distinction of an operating income and a non-operating income.
d. Discuss the OSD base for an individual taxpayer and the OSD base for a corporate
taxpayer.
e. Discuss the rules of OSD for a general professional partnership and the partners.
2. Attend the online class lecture on this topic on April 12 & 15, 2021 at 1:00PM-2:30PM and
professional partnership and the partners. 2:00PM-3:00PM using Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 552 to 560.
b. Solutions of the chosen exercise problems will be presented on April 14 & 20, 2021,
2:30PM and 3:00PM using Google Meet.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on April 14 &
20, 2021, 2:30PM and 3:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.

Answer the 40-item exam that will be posted in the Google Classroom
April 22 & 23, 2021 Semi-Final Exam Start Time: 1:00PM and 2:00 PM | Due Time: 2:30PM and 3:00 PM
Unit 6: Specific Regular Tax Rules per Taxpayer Class
Week 15: Topic 1: Individual Income Taxation
April 26 & 28, 2021 1. Understand the special rules on married A – Analyze the Learners
April 27, 2021 taxpayers. 1. Google classroom activity: Partake in the online discussion on your background and
2. Comprehend and master the rules on expectations about Individual Income Taxation.
personal exemptions: the basic and
S – State Standards or Objectives
additional exemption and the premium on
Please see topic learning outcomes
health insurance.
3. Understand and be able to apply the rules of S – Select Strategies
change in status. The following teaching strategies will be used in this topic:
4. Understand the rules relevant to taxable 1. Asynchronous online learning – participation in online discussion, answering guide questions
estates and trusts. and viewing uploaded videos in Google Classroom
5. Know the conditions of the substituted filing 2. Synchronous online learning – joining the online class thru Google Meet
system. 3. Offline learning – reading and self-study of printed resources
20
L-NU AA 30-00-01-20

U – Utilize Technology, Media and Materials

Read your main reference book Rex Banggawan, Income Taxation, 2014 Ed. from pages 561 to 585.
1. After reading your book you should be able to answer the following guide questions:
a. Discuss the rules of taxation for married individuals.
b. What is personal exemption? Who can claim personal exemption?
c. Explain the treatment of personal exemption between separated spouses.
d. What is the allowable personal exemption to a non-resident alien not engaged in trade or
business?
e. Discuss the taxation of estates and trusts.
f. Demonstrate the consolidation of multiple trust.
g. Discuss the exemption conditions of an employee trust fund.
h. When is consolidation or adjustment of income tax return required?
i. When and where to file and pay the regular income tax of individuals?
j. Discuss the conditions and rules of the installment payment of the regular income tax.
k. Who shall file income tax return?
6. Know the conditions when to prepare a l. Who are not required to file income tax return?
consolidated or adjustment return. 2. Attend the online class lecture on this topic on April 26 & 27, 2021 at 1:00PM-2:30PM and
7. Compute estimated tax payments for 2:00PM-3:00PM using Google Meet.
individuals engaged in business.
8. Understand the rules on installment payment R – Require Learner Participation
of the regular tax. 1. Individual activity
a. Answer the exercise drills from pages 586 to 604.
b. Solutions of the chosen exercise problems will be presented on April 27 & 28, 2021,
2:30PM and 3:00PM using Google Meet.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on April 27 &
28, 2021, 2:30PM and 3:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
Week 15: Topic 2: Corporate Income Taxation - Special Corporations
April 29, 2021 1. The general income tax rule for regular A – Analyze the Learners
April 30, 2021 corporate taxpayers. 1. Google classroom activity: Partake in the online discussion on your background and
2. The nature and types of exempt corporation. expectations about Corporate Income Taxation - Special Corporations.
Week 16: 3. The classification rule for exempt
S – State Standards or Objectives
May 3, 2021 corporation.
Please see topic learning outcomes
4. Cost and expense allocation between
exempt and taxable corporation. S – Select Strategies
5. The dominance test on private schools and The following teaching strategies will be used in this topic:
non-profit hospitals. 1. Asynchronous online learning – participation in online discussion, answering guide questions
6. The taxation rules for FCDU/EFCDU and and viewing uploaded videos in Google Classroom
offshore banking units. 2. Synchronous online learning – joining the online class thru Google Meet
21
L-NU AA 30-00-01-20

3. Offline learning – reading and self-study of printed resources

U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation, 2014 Ed. from pages 605 to 633.
1. After reading your book you should be able to answer the following guide questions:
a. State the general income tax rules for regular types of corporations.
b. What are exempt corporations? What is their primary distinguish feature?
c. Explain the classification rule and dominance test
d. Discuss the taxation rules for FCDU and offshore banking units.
e. Explain the meaning of Gross Philippine billings.
f. What are the special types of non-resident foreign corporations and their tax rates?
2. Attend the online class lecture on this topic on April 29 & 30, 2021 at 1:00PM-2:30PM and
2:00PM-3:00PM using Google Meet.
7. The special rules on international carriers.
8. The different tax rates for special non- R – Require Learner Participation
resident foreign corporate taxpayers. 1. Individual activity
a. Answer the exercise drills from pages 634 to 644.
b. Solutions of the chosen exercise problems will be presented on April 29 & May 3, 2021,
2:30PM and 3:00PM using Google Meet.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on April 29 &
May 3, 2021, 2:30PM and 3:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
Week 16: Topic 3: Corporate Income Taxation - Regular Corporations
May 4 & 6, 2021 1. The corporate gross income tax. A – Analyze the Learners
May 5 & 7, 2021 2. The minimum corporate income tax (MCIT). 1. Google classroom activity: Partake in the online discussion on your background and
3. The rationale behind Improperly expectations about Corporate Income Taxation - Special Corporations.
Accumulated Earnings Tax (IAET) and its
S – State Standards or Objectives
relation to dividends tax.
Please see topic learning outcomes
4. The scope and computational procedures of
IAET. S – Select Strategies
5. The scope and coverage of Branch profit The following teaching strategies will be used in this topic:
remittance tax. 1. Asynchronous online learning – participation in online discussion, answering guide questions
6. The procedural computation of Branch profit and viewing uploaded videos in Google Classroom
remittance tax. 2. Synchronous online learning – joining the online class thru Google Meet
3. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Rex Banggawan, Income Taxation, 2014 Ed. from pages 645 to 669.
1. After reading your book you should be able to answer the following guide questions:
a. Discuss the scope and conditions of the gross income tax & scope, tax base and the timing
of imposition of the MCIT.
22
L-NU AA 30-00-01-20

b. What are the conditions for the suspension of the MCIT?

c. Discuss the scope and the formula of the IAET & branch profit remittance tax.
d. What corporations are subject to the branch profit remittance tax?
e. What are the transactions considered indirect remittance?
2. Attend the online class lecture on this topic on May 4 & 5, 2021 at 1:00PM-2:30PM and
2:00PM-3:00PM using Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 670 to 683.
b. Solutions of the chosen exercise problems will be presented on May 6 & 7, 2021, 2:30PM
and 3:00PM using Google Meet.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on May 6 &
7, 2021, 2:30PM and 3:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
Unit 6: Specific Regular Tax Rules per Taxpayer Class
Week 17: Topic 1: Remedies
May 10, 2021 1. Determine the period of limitation upon A – Analyze the Learners
May 11, 2021 assessment and collection. 1. Google classroom activity: Partake in the online discussion on your background and
2. Identify the authority to compromise, abate expectations about Remedies.
and refund, or credit taxes.
S – State Standards or Objectives
3. Enumerate remedies for the collection of
Please see topic learning outcomes
delinquent taxes.
4. Enumerate the remedies available to the S – Select Strategies
taxpayer. The following teaching strategies will be used in this topic:
5. Discuss the forfeiture of cash refund and of 1. Asynchronous online learning – participation in online discussion, answering guide questions
tax credit. and viewing uploaded videos in Google Classroom
2. Synchronous online learning – joining the online class thru Google Meet
3. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Ballada, Income Taxation, 2019 Issue from pages 567 to 578.
1. After reading your book you should be able to answer the following guide questions:
a. Specify the period of limitation upon assessment and collection.
b. Discuss the instances when the Commissioner of Internal Revenue has the authority to
compromise, abate, and refund or credit taxes.
c. State the remedies for the collection of delinquent accounts.
d. Discuss the remedies of the taxpayer.
2. Attend the online class lecture on this topic on May 10 & 11, 2021 at 1:00PM-2:30PM and
2:00PM-3:00PM using Google Meet.
23
L-NU AA 30-00-01-20

R – Require Learner Participation

1. Individual activity
a. Answer the exercise drills from pages 579 to 581.
b. Solutions of the chosen exercise problems will be presented on May 10 & 11, 2021,
2:30PM and 3:00PM using Google Meet.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on May 10 &
11, 2021, 2:30PM and 3:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.
Week 17: Topic 2: Compliance Requirements
May 12 & 14, 2021 1. Determine the keeping and preservation of A – Analyze the Learners
May 13, 2021 books of accounts. 1. Google classroom activity: Partake in the online discussion on your background and
2. Enumerate the primary registration expectations about Compliance Requirements.
requirements.
S – State Standards or Objectives
3. Enumerate the financial statements to be
Please see topic learning outcomes
attached to the annual ITR.
4. Identify the steps and effects of accreditation S – Select Strategies
of tax practitioners and agents. The following teaching strategies will be used in this topic:
1. Asynchronous online learning – participation in online discussion, answering guide questions
and viewing uploaded videos in Google Classroom
2. Synchronous online learning – joining the online class thru Google Meet
3. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your main reference book Ballada, Income Taxation, 2019 Issue from pages 583 to 595.
1. After reading your book you should be able to answer the following guide questions:
a. Discuss the compliance requirements on keeping and preservation of books of accounts,
primary registration, printing and issuance of receipts/sales invoices.
b. State the financial statements to be attached to the annual ITR.
c. Detail the persons who need to be accredited as tax practitioners and agents.
2. Attend the online class lecture on this topic on May 12 & 13, 2021 at 1:00PM-2:30PM and
2:00PM-3:00PM using Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills from pages 597 to 598.
b. Solutions of the chosen exercise problems will be presented on May 13 & 14, 2021,
2:30PM and 3:00PM using Google Meet.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on May 13 &
24
L-NU AA 30-00-01-20

14, 2021, 2:30PM and 3:00PM.

Optional Task:
1. Review the source materials provided in Google Classroom.
Week 18: Topic 3: Preferential Taxation & Comparison of TRAIN Law and NIRC of 1997
May 17 & 19, 2021 1. Enumerate the special laws. A – Analyze the Learners
May 18, 2021 2. Distinguish the amendments on NIRC of 1. Google classroom activity: Partake in the online discussion on your background and
1997. expectations about Preferential Taxation & Comparison of TRAIN Law and NIRC of 1997.
3. Discuss the amendments in TRAIN Law.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Asynchronous online learning – participation in online discussion, answering guide questions
and viewing suggested videos in YouTube
2. Synchronous online learning – joining the online class thru Google Meet
3. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
Read your additional references to be provided in Google Classroom.
1. After reading your book you should be able to answer the following guide questions:
a. Discuss the Senior Citizens’ Law, Magna Carta for Disabled Persons, Special Economic
Zone Act, and Barangay Micro Business Enterprises Act.
b. Identify the amendments on Tax Reform for Acceleration and Inclusion.
2. Attend the online class lecture on this topic on May 17 & 18, 2021 at 1:00PM-2:30PM and
2:00PM-3:00PM using Google Meet.
R – Require Learner Participation
1. Individual activity
a. Answer the exercise drills.
b. Solutions of the chosen exercise problems will be presented on May 18 & 19, 2021,
2:30PM and 3:00PM using Google Meet.
E – Evaluate
1. Answer a quiz assignment on this topic which will be posted in Google classroom on May 18 &
19, 2021, 2:30PM and 3:00PM.
Optional Task:
1. Review the source materials provided in Google Classroom.

Answer the 40-item exam that will be posted in the Google Classroom
May 20 & 21, 2021 Final Exam Start Time: 1:00PM and 2:00 PM | Due Time: 2:30PM and 3:00 PM

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L-NU AA 30-00-01-20

COURSE REQUIREMENTS:

Formative Assessment Methods:

Subject Portfolio about Every Activities each meeting
Activities indicated in the “Analysis” part of the module
Informal class recitations

Summative Assessment Methods:

Quizzes, Unit test, Recitation, Online Synchronous and Asynchronous Activities, Periodic Examinations
Note: Rubrics for each class work will be given by your instructor during the briefing before the activity.

GRADING SYSTEM:
Semestral Grade = (Prelim Grade*25%) + (Midterm Grade*25%) + (Semi-Final Grade*25%) + (Final Grade*25%)
For every grading period:
Periodic Exam – 40%
Student Course Work – 60% (Recitation 25%, Quizzes 25%, Requirements 20%, Attendance 10%, Assignment 20%)
In order to earn a passing grade, the student should get a transmuted grade of 75%

BIBLIOGRAPHY:

Main Reference:
Rex Banggawan, Income Taxation, 2019 Issue

Additional References:
Ballada, Income Taxation,2019 Issue-17th Edition
Preferential Taxation by Anna Mae Sanchez (https://www.scribd.com/document/361181814/Preferential-Taxation)
RA 10963: Tax Reform for Acceleration and Inclusion (TRAIN) by Atty. Randy B. Blaza, CPA, MBA (https://www.scribd.com/presentation/408717375/Train-Law-Taxation)

Prepared by: Recommended by: Approved by:

JUDY ANNE T. RAMIREZ, CPA DR. GENOVEVA Y. REYES, CPA, FRIAcc DR. MARINA O. ABELLA
Instructor Dean Vice-President, Academic Affairs

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