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Demonstrate an in-depth appreciation and recognition of the mission-vision of the present administration in carrying out reforms on income tax under Republic Act 10963 (TRAIN Law).
Critically recognize the difference in the accounting treatment for compensation and business income under the TRAIN Law.
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> Mission-vision of the present administration and its link to TRAIN Law.
> Purpose of Taxation
> Overview of the Principles of Sound Tax System
> Key Amendments on Income Tax: Personal Income Tax, Exemption/Deduction/Exclusion;
Optional Standard Deduction, Withholding Taxes; Passive Income; ITR Filing and Payment
>Income Tax for Business Owners /Professionals/FreeLancers/
>Income Tax for Purely Compensation Income Earner
>Income Tax for Mixed Income Earners
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>To determine and appreciate the significance of the mission-vision of the present government that brought tax reforms under the TRAIN Law;
>To provide a review of the principles of a sound tax system
> To determine the key amendments on Income Tax under the TRAIN Law.
To distinguish the difference or similarities in the income tax treatment for Business Owners and Self-employed, Purely Compensation and Mixed Income under the TRAIN Law.
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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 its application of what was covered in the module |
