VISION
In pursuit of perfection, the University of Baguio is committed to provide balanced quality
education by nurturing academic excellence, relevant social skills and ethical values in a fun
learning environment.
MISSION
The University of Baguio educates individuals to be empowered professionals in the global
community.
INSTITUTIONAL OBJECTIVES
The University of Baguio aims to produce a graduate who:
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Exemplifies a higher standard of learning;
Manifest the mastery of relevant skills;
Upholds a conduct that is rightful and just;
Undertakes scientific and significant researches;
Advocates sustainable programs for the community and the environment; and
Leads and demonstrates exemplary performance in the field of specialization.
Course Number
TAXATN2 (3 UNITS)
Description:
TRANSFER AND BUSINESS TAXATION
Effectivity:
First Semester SY 2013 - 2014
Date Revised
May 29, 2013
Page 1 of 8
SCHOOL OF BUSINESS ADMINISTRATION AND ACCOUNTANCY MISSION
The University of Baguio educates individuals to be empowered professionals in a
global community. The School of Business Administration and Accountancy edifies
competitive and morally upright individuals.
OBJECTIVES
The School of Business Administration and Accountancy, in an exuberant learning
climate, aims to nurture a business graduate who:
1. Cultivates the knowledge, that are imperative for career success in a globalized
setting;
2. Demonstrates relevant skills;
3. Utilizes macro-environmental acumen for economic growth and development;
4. Typifies professional integrity with humility;
5. Undertakes researches to promote systematic bases for business decisions; and
6. Models exemplary performance in business
CORE VALUES
1. Professional Ethics
2. Integrity
3. Objectivity and Independence
4. Professional Competence and Due Care
5. Confidentiality
6. Professional Behavior
7. Fairness
8. Transparency
9. Accountability
10. Hard Work
11. Honesty
12. Patience
13. Diligence
14. Innovativeness
15. Risk-taking
Course Number
TAXATN2 (3 UNITS)
Description:
TRANSFER AND BUSINESS TAXATION
Effectivity:
First Semester SY 2013 - 2014
Date Revised
May 29, 2013
Page 2 of 8
1. Program Learning Outcomes (PLO) vis-à-vis Program Objectives
PROGRAM
OBJECTIVES
P1
P2
P3
Program Learning Outcomes
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O4.
O5.
O6.
O7.
O8.
Students graduate to become professionals imbued with high moral/ ethical standards.
Graduates are highly competitive with their acquired knowledge, skills and values in the practice of their profession.
Graduates are confident of their academic and industry preparations and the entry competencies learned to tackle the rigors of the business world.
Students can carry out researches that can be utilized in the community and in the business profession.
Students recognize their responsibility and accountability as professionals and as workers in the community.
Students become aware of and strive for their physical, mental and spiritual well-being.
Students are prepared to meet the needs and demands of global employment without losing the Filipino spirit.
Students become aware of their responsibility to the environment and participate actively in environmental programs.
P4
P5
P6
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PROGRAM OUTCOMES
O1
O2
O3
O4
O5
O6
O7
O8
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C2 Classify taxpayers and determine applicable tax liability for each taxpayer.
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C3 Identify the sources of income and distinguish the applicable tax liability.
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C4 Delineate deductible from non-deductible expenditures.
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C5 Know the remedies available to taxpayers and to the government in cases of tax disputes.
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C6 Recognize the value of honesty and integrity
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C7 Appreciate that taxation is the lifeblood of the government.
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C8 Be aware of one’s responsibility of paying right taxes.
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PSYCHOMOTOR DOMAIN
C9 Apply the rules of taxation to real life situations.
C10 Compute tax due through accurate use of tax rates and tables.
C11 Prepare correct tax returns.
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2. Course Objectives vis-à-vis Program Learning Outcomes
Course Objectives
COGNITIVE DOMAIN
C1 Describe the nature, scope, characteristics, principles and limitations of transfer and business taxes.
AFFECTIVE DOMAIN
Course Number
TAXATN2 (3 UNITS)
Description:
TRANSFER AND BUSINESS TAXATION
Effectivity:
First Semester SY 2013 - 2014
Date Revised
May 29, 2013
Page 3 of 8
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4. PRE-REQUISITE
TAXATN1 Income Taxation
5. COURSE DESCRIPTION
This course directed towards the study of the tax laws affecting transfer and business tax. It aims to help students be familiar with and understand the
nature and purpose of these tax laws, and their pertinence to real life situations.
6. DETAILED COURSE OUTLINE
Session Learning Objectives
/ Goals (SLO/G)
To be able to have an overall
understanding of the nature
and purposes of transfer taxes
To be able to determine estate
tax liability when applicable
Course Number
TAXATN2 (3 UNITS)
Content Topic
I.
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Introduction to Transfer Taxes
Concept and Nature of Transfer Taxes
Onerous Transfer of Property
Gratuitous Transfer of Property
Similarities Between Donor’s Tax and Estate
Tax
 Donor’s Tax
 Estate Tax
 Concept of Succession
 Kinds of Succession
 Concept of Disinheritance
II.
Estate Tax
 Concept and Nature of Estate Tax
 Classification of Decedent
 Gross Estate
 Properties Physically Present in the Estate
 Properties of Non-Resident Alien Included in
the Gross Estate
 Rule of Reciprocity
 Intangible Personal Properties Located in the
Philippines
 Properties not physically present in the estate
 Valuation of properties in Gross Estate
 Property Relation of Spouses
 Deductions from Gross Estate
 Net Taxable Estate
 Estate Tax Due
 Net Distributable Estate
 Estate Tax of Non-Resident Alien
 Tax Credit for Foreign Estate Tax
 Filing and Payment of Estate Tax Return
Description:
TRANSFER AND BUSINESS TAXATION
Outcomes Based
Methodologies/
Strategies &
Approaches
Library and Internet
Researches
Learning
Outcomes
Time
Allotment
Values
Evaluative
Measures
Delineate Donor’s
Tax from Estate
Tax
3 hrs
Professional
Competence
and Due Care
Assignments
Quiz
Seatwork
Prepare estate tax
return with
accuracy
9 hrs
Professional
Behavior
Assignments
Quiz
Seatwork
Problem Solving
Case analysis (actual
tax cases)
Library and Internet
Researches
Problem Solving
Effectivity:
First Semester SY 2013 - 2014
Date Revised
May 29, 2013
Page 4 of 8
PRC TOS
Session Learning Objectives
/ Goals (SLO/G)
To be able to determine
donor’s tax liability when
applicable
To be able to understand the
overall nature and purpose of
business taxes
To be able to determine the
correct VAT liability of the
taxpayer
Content Topic
III.
Donor’s Tax
 Concept and nature of donor’s tax
 Purposes of donor’s tax
 Kind of donation
 Classification of donors
 Elements of donation
 Gross gift
 Valuation of gifts
 Deductions from gross gifts
 Tax rates of donor’s tax
 Tax credit for foreign donor’s tax paid
 Filing of return and payment of donor’s tax
FIRST GRADING EXAMINATION
IV.
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Course Number
TAXATN2 (3 UNITS)
Introduction to Business Taxes
Concept and nature of business
When is an activity engaged in business
Concept and nature of business taxes
Registration of business
Value-Added Tax
Concept and nature of VAT
Tax Rates
Tax Base
Constructive Receipt of Cash
Transactions Exempt from VAT
Activities Deemed Business Sale
Zero-rated Transactions
VAT Payable Formula
Input Tax on Local Purchases
Transitional Input Tax
Presumptive Input Tax
Input Tax on Capital Goods
Guidelines on VAT Transactions
Taxpayers Required to Register under
VAT
Effects of Failure to Register as VAT
taxpayer
Description:
TRANSFER AND BUSINESS TAXATION
Outcomes Based
Methodologies/
Strategies &
Approaches
Library and Internet
Research
Learning
Outcomes
Prepare correct
donor’s tax return
Time
Allotment
Values
Evaluative
Measures
5 hrs
Fairness
Assignments
Quiz
Seatwork
1 hr
18 hrs
2 hrs
Integrity
Assignments
Quiz
Seatwork
Professional
Competence
and Due Care
Assignments
Quiz
Seatwork
Problem Solving
Library and Internet
Research
Problem Solving
Library and Internet
Research
SUBTOTAL
Identify correct
business tax
liability for a
specific business
Determine correct
VAT liability of a
specific taxpayer
15 hrs
Problem Solving
Effectivity:
First Semester SY 2013 - 2014
Date Revised
May 29, 2013
Page 5 of 8
PRC TOS
Session Learning Objectives
/ Goals (SLO/G)
Content Topic
Outcomes Based
Methodologies/
Strategies &
Approaches
Learning
Outcomes
Time
Allotment
Values
Evaluative
Measures
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Taxpayers Exempt from VAT
Business with VAT and Non-VAT
Transactions
 Filing Returns and Payment of VAT
MIDTERM EXAMINATIONS
To be able to determine the
correct percentage tax liability
of the taxpayer
To be able to determine the
correct excise tax liability of
the taxpayer
Course Number
TAXATN2 (3 UNITS)
VI.
Percentage Tax
Concept and Nature of Percentage Tax
Tax Base
Optional Registration
Business Subject to Percentage Tax
Domestic Carriers and Keepers of
Garages
 International Air and Shipping Carriers
 Franchise Tax
 Overseas Communication Tax
 Tax on Banks and Non-bank Financial
Intermediaries
 Tax on Life Insurance Companies
 Tax on Agents of Foreign Insurance
Companies
 Amusement Places
 Tax on Winnings
 Sale of Shares of Stock
 Shares of Stock Sold Through IPO
 Withholding Percentage Tax
 Payment of Taxes Withheld and
Percentage Taxes
VII.
Excise Tax
 Concept and Nature of Excise Tax
 Classification of Excise Tax
 Purposes of Excise Tax
 Goods Subject to Excise Tax
 Excise Tax Rates
 Filing of Return and Payment of Excise
TAx
FINAL EXAMINATION
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Description:
TRANSFER AND BUSINESS TAXATION
Library and Internet
Research
SUBTOTAL
Determine correct
percentage tax
liability of a specific
taxpayer
1 hr
18 hrs
12 hrs
Professional
Competence
and Due Care
Assignments
Quiz
Seatwork
Integrity
Assignments
Quiz
Seatwork
Problem Solving
Library and Internet
Research
Determine the
correct excise tax
liability of a specific
taxpayer
5 hrs
Problem Solving
Effectivity:
First Semester SY 2013 - 2014
1 hr
Date Revised
May 29, 2013
Page 6 of 8
PRC TOS
Session Learning Objectives
/ Goals (SLO/G)
Content Topic
Outcomes Based
Methodologies/
Strategies &
Approaches
Learning
Outcomes
SUBTOTAL
TOTAL HOURS
Time
Allotment
Values
Evaluative
Measures
PRC TOS
18 hrs
54 hrs
Grading System:
For Professional Board Examination Subjects: the cut-off score is 70%. The highest possible grade is ninety-nine (99); the lowest passing grade is seventy-five (75); and the lowest failing grade is
sixty-five (65).
First grading Class standing = 70 % ; Exam = 30 %
Midterms
Class standing = 60 % ; Exam = 40 %
( Tentative Midterm Grade x 2 + First Grading ) / 3 = Midterm Grade
Finals
Class standing = 50 % ; Exam = 50 %
( Tentative Final Grade x 2 + Midterm Grade ) / 3 = Final grade
Textbook and References:
TEXTBOOK
Ballada, Win. Transfer and Business Taxation: Made Easy. 12th ed. Philippines: Domdane Publishers.c2011
REFERENCES
De Leon, Hector S. The Fundamentals of taxation 2009. Manila: Rex, c2009.
Ampongan, Omar Erasmo C. Transfer and Business Taxes. [S1.:s.n.],2008.
Valencia, Edwin G. Transfer and Business Taxation, Baguio: Valencia Educational Supply, c2013
Aduana, Nick. Transfer and Busines Taxation, c 2009
Internet sites
www.bir.gov.ph
www.sec.gov.ph
Course Number
TAXATN2 (3 UNITS)
Description:
TRANSFER AND BUSINESS TAXATION
Effectivity:
First Semester SY 2013 - 2014
Date Revised
May 29, 2013
Page 7 of 8
PREPARED BY
ACC/TAX/BL GROUP
NOTED BY
MS. ALLYN C. GARIBAY
Assigned Librarian
MR. RHAD VIC F. ESTOQUE, MBA, CPA
Program Chair, Accountancy
APPROVED BY
DR. KAREEN B. LEON, CPA
Dean, SBAA
Course Number
TAXATN2 (3 UNITS)
Description:
TRANSFER AND BUSINESS TAXATION
Effectivity:
First Semester SY 2013 - 2014
Date Revised
May 29, 2013
Page 8 of 8