1. Tax treaties are primarily relieving in nature and do not impose tax Taxation in the Philippines 1. If you continue browsing the site, you agree to the use of cookies on this website. Commonly heard definitions include: It is the process by which the sovereign, through its law making body, races revenues use to defray expenses of government. For example, because imported products are easier to tax than domestic output, import duties were among the earliest taxes. Taxation - Taxation - Classes of taxes: In the literature of public finance, taxes have been classified in various ways according to who pays for them, who bears the ultimate burden of them, the extent to which the burden can be shifted, and various other criteria. General Principles of Taxation Tax 111 – Income Taxation Ferdinand C. Importado CPA, MBA 2. By equality is meant equality of sacrifice, that is people should pay taxes in proportion to their incomes. • If it is not within the ambit of Section 3, no income tax is due in respect of that transaction. Taxation, imposition of compulsory levies on individuals or entities by governments. Clipping is a handy way to collect important slides you want to go back to later. taxation typically treats the social planner as a utilitarian: that is, the social welfare function is based on the utilities of individuals in the society. If a tax fails to meet these principles or rules, then it is considered a bad tax system. Definition 4. 4LM3 Taxation 101 basic rules and principles in philippine taxation by jr lopez go... Nenhum painel de recortes público que contém este slide. TAXATION Camille Anne E. Duterte 4LM3 December 17, 2015 2. or. What is Taxation? Efficient - A tax system should raise enough revenue such that government projects can be adequately sponsored, without burdening the economy too much (not particularly the tax payer), as not to become a disincentive for performance (internal and external investment, work returns and savings). GENERAL PRINCIPLES OF TAXATION FUNDAMENTAL PRINCIPLES IN TAXATION. The principle recognises that the purpose of taxation is to pay for government services. Customer Code: Creating a Company Customers Love, No public clipboards found for this slide. If this principle could be implemented, the allocation of resources through the public sector would respond directly to consumer wishes. O SlideShare utiliza cookies para otimizar a funcionalidade e o desempenho do site, assim como para apresentar publicidade mais relevante aos nossos usuários. Upcoming SlideShare. The first principle, efficiency, means that the tax system raises enough revenue to sponsor projects without burdening the economy and the system shall not become a disincentive for performance. 4. But it is not the only goal. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. This is where the government gives a grace period to an investor during which period the investor does not pay tax until the grace period is over. 1. taxation must be correct; „The tax which each individual is bound to pay ought to be certain, and not arbitrary. Follow Published on Jul 9, 2011. 1/6/2016 7:58 PM 2 2. SOURCE PRINCIPLES OF TAXATION • Source Principle of Taxation is a principle for the taxation of international income flows. Nonlinearity allows General Principles a paper read before the dublin statistical society: 18th november, 1850. by w. neilson hancock, lld. Fundamental principles of taxation This chapter discusses the overarching principles of tax policy that have traditionally guided the development of tax systems. Altere suas preferências de anúncios quando desejar. The act of levying taxes is called taxation. Free PDF. Objectives At the end of this lecture, the students shall be able to: • Define taxation. • Discuss the purposes of taxation. ... 01 General Principles of Taxation 42,697 views. A tax is a compulsory charge or fees imposed by government on individuals or corporations. • Identify the theory and basis of taxation. Taxation Summary 1. ECON4The Principles of Taxation How to distinguish between a ‘good’ and a ‘bad’ tax Aquinas College Economics Department Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Acessar mais tarde or percentage of taxation tax 111 – income taxation Ferdinand C. Importado CPA, MBA 2 slideshare... 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