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Course Syllabus Income Tax

The document outlines a course on Income Taxation offered by the College of Business Administration at City University of Pasay for the 2nd semester of the 2024-2025 academic year. It includes course objectives focused on understanding taxable income, deductions, and individual tax filing, along with a detailed course outline covering fundamental taxation principles, gross income, deductions, and various types of taxpayers. The course will be taught by Guilbert M. Castillo, CPA, MPA, with consultation available by appointment.

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1 views

Course Syllabus Income Tax

The document outlines a course on Income Taxation offered by the College of Business Administration at City University of Pasay for the 2nd semester of the 2024-2025 academic year. It includes course objectives focused on understanding taxable income, deductions, and individual tax filing, along with a detailed course outline covering fundamental taxation principles, gross income, deductions, and various types of taxpayers. The course will be taught by Guilbert M. Castillo, CPA, MPA, with consultation available by appointment.

Uploaded by

jhazminefullido
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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COLLEGE OF BUSINESS ADMINISTRATION

CITY UNIVERSITY OF PASAY

INCOME TAXATION 2nd Sem / SY 2024-2025 Section: 2-5 OM


Schedule: MW 8:00-9:00 PM
Room No: 40
Guilbert M. Castillo, CPA, MPA Email: [email protected]
Consultation: By appointment Mobile No: 0962-4505069

I. Course Description:
Introduction: This course provide an introductory on Income Taxation.
Emphasis is on tax for individuals and the various taxes applicable to them.

II. Course Objectives:


1. Be able to distinguished taxable, non-taxable and exempt income.
2. Understand the allowable deductions, learn the computational aspect
of determining the applicable taxes payable.
3. Determine the filing and payment of other individual taxes.

III. Course module and list of readings:

Basic References: Income Taxation (2023 ed.) Enrico D. Tabag, Earl Jimson R.
Garcia

Course Outline:

1. Fundamental Principles of Taxation


 Theory and basis of Taxation
 Classification of Taxes
 Kinds of Tax Exemption
 Sources of Tax Laws

2. Introduction to Gross Income


 Income defined
 Taxable Income
 Income Tax systems

3. Inclusions and Exclusions from Gross Income


 Inclusions in the Gross income
 Business Income
 Items excluded from gross income

4. Dealings in Properties
 Capital Gains subject to basic tax, percentage taxes, capital
gains taxes
5. Deductions from Gross Income
 Exclusions vs. Deductions
 Itemized deductions
 Losses

6. Individual Taxpayers
 Citizens, non-resident citizen, resident alien, non-resident alien
 Types of Income
 Final withholding tax
 Filing and preparation of Income Tax Return

7. Fringe Benefits Tax & De Minimis Benefits


 Tax-exempt Fringe benefits
 Tax treatment of fringe benefits, de-minimis and 13 th month pay
 Other fringe benefits

8. Installment reporting of Income and Installment payment of Capital


Gains Tax
 Selling Price, Contract Price
 Initial Payments

9. Income Tax Credit and Optional Standard Deductions


 Tax Credit as deduction from gross income
 Optional standard deductions (OSD)

10. Accounting Periods and Methods


 Kinds or Methods of Accounting

11. Preferential Taxation


 Background and definition or terms

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