Taxation 2

CE CASECNAN WATER and ENERGY COMPANY, INC., vs. THE PROVINCE OF NUEVA ECIJA, G.R. No. 196278, June 17, 2015

Facts: On June 26, 1995, petitioner and the National Irrigation Administration (NIA) entered into a build-operate-transfer (BOT) contract known as the “Amended and Restated Casecnan Project Agreement” (Casecnan Contract) relative to the construction and development of the Casecnan Multi-Purpose Irrigation and Power Project (Casecnan Project) in Pantabangan, Nueva Ecija and Alfonso Castaneda, Nueva Vizcaya. TheContinue reading “CE CASECNAN WATER and ENERGY COMPANY, INC., vs. THE PROVINCE OF NUEVA ECIJA, G.R. No. 196278, June 17, 2015“

CIR vs. Magsaysay Lines – GR No. 146984, July 28, 2006

Facts: Pursuant to a government program of privatization, NDC decided to sell to private enterprise all of its shares in its wholly-owned subsidiary the National Marine Corporation (NMC). The NDC decided to sell in one lot its NMC shares and five (5) of its ships. The NMC shares and the vessels were offered for publicContinue reading “CIR vs. Magsaysay Lines – GR No. 146984, July 28, 2006”

REVENUE REGULATIONS NO. 16-2005, September 1, 2005

REPUBLIKA NG PILIPINAS KAGAWARAN NG PANANALAPI KAWANIHAN NG RENTAS INTERNAS Quezon City September 1, 2005 REVENUE REGULATIONS NO. 16-2005 SUBJECT: Consolidated Value-Added Tax Regulations of 2005 TO: All Internal Revenue Officers and Others Concerned Pursuant to the provisions of Secs. 244 and 245 of the National Internal Revenue Code of 1997, as last amended byContinue reading “REVENUE REGULATIONS NO. 16-2005, September 1, 2005”

Value-Added Tax – (Secs. 105 to 115 of the NIRC as amended by RA 10963)

Value-Added Tax – (Secs. 105 to 115 of the NIRC as amended by RA 10963) VAT In General Nature and characteristic of VAT in general Sec. 4.105.-2 of RR No. 16-05 – Nature and Characteristics of VAT. – VAT is a tax on consumption levied on the sale, barter, exchange or lease of goods or propertiesContinue reading “Value-Added Tax – (Secs. 105 to 115 of the NIRC as amended by RA 10963)”

TITLE III: ESTATE AND DONOR’S TAXES as amended by RA 10963

CHAPTER I – ESTATE TAX Section 84. Rate of Estate Tax. – There shall be levied, assessed, collected and paid upon the transfer of the net estate as determined in accordance with Sections 85 and 86 of every decedent, whether resident or nonresident of the Philippines, a tax at the rate of six percent (6%)Continue reading “TITLE III: ESTATE AND DONOR’S TAXES as amended by RA 10963”

Transfer Taxes

Nature of Transfer Taxes Estate Tax Nature of Estate Tax Definition – Sec 104, NIRC – includes real and personal properties, whether tangible or intangible, or mixed, wherever situated. Rate of Tax (Sec 84) – 6% of net estate The Law that governs the imposition of Estate Tax – (Sec. 3, RR 2-2003) – ItContinue reading “Transfer Taxes”

Taxation Law 2

Course Outline Transfer Taxes – (Secs. 84 to 104 of the NIRC as amended by RA 10963) Value-Added Tax – (Secs. 105 to 115 of the NIRC as amended by RA 10963) Other Percentage Taxes Remedies Customs Modernization and Tariff Act (RA 10863) LOCAL AND REAL PROPERTY TAXATION Republic Act No. 7160, Local Government CodeContinue reading “Taxation Law 2”