LEARNING OUTCOMES

TOPICS TO BE DISCUSSED

Specific OBJECTIVES OF THE TOPICS OR SUBTOPICS

Strategically compare the different business taxes and the amendments imposed thereon under the TRAIN law.

> Definition of excise tax, percentage tax and documentary stamp tax.

> Goods subject and not subject to excise tax.

> Highlights of new laws under the TRAIN Law on excise tax, percentage tax and documentary stamp tax.

> Reasons for such imposition

>Computations

> Concurrence of business taxes

To come up with a comparative analysis on the old law and the new law affecting the excise tax, percentage tax and documentary stamp tax.

To assess the impact of the TRAIN law on the business taxes.

Critically distinguish the amendments on passive income under the TRAIN Law.

> Comparison of Old Law and TRAIN Law on passive income.

To gain insight on the new rates applied for passive income transactions under the TRAIN law.

Critically recognize the amended registration requirements of businesses under the TRAIN law.

> Comparison of Old Law and TRAIN Law on the registration requirements of businesses in the Philippines.

> Electroning Reporting

Appreciate the benefits of the amendments on the registration requirements of businesses in the Philippines.

Strategically mimimize tax- risk exposure.

>Penalties on not abiding to the new tax laws on the registration requirements for businesses and electronic reporting.

To minimize tax-risk exposure by abiding to the new tax rulings on the registration requirement and electronic reporting.

Reinforce facts and principles covered in relation to the TRAIN law.

Reading Materials: various Revenue Regulations from BIR

To identify the tax provisions issued by BIR which relate to the topics discussed

Master the tax provisions under the TRAIN Law  applicable for each business tax  covered in the lesson.

Short Quiz (Multiple Choice)

Gain mastery of the tax provisions under the TRAIN Law and their application of what was covered in the module