Blt Oct 2017
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C ar l oA ng el oN egad o N ovem ber 1 at 6: 15a m · E d i t e d N ew t op i cs i n Ta xat i on e ff ec t i ve i n t he O ct ob er, 20 17 C P A l i ce ns ure exa m i na t i on : 6 . 0 T AXATI O NU ND ERTH EL O CALG OV ER NMEN TCO DE * h t t p :/ / w w w . n tr c. g ov. p h / fi l e s/ C h a p t e r-XI---L o ca l- Ta xe s. p d f ht t p: / / w w w . ch an r ob l es . co m / l oc al go v2 . ht m #. V j q2 F vm r S U m 6.1 S co p e a n d di ff er e nt t yp e s o f l o ca l t a xe s (Li mit e d t o R e a l p r o p ert y t ax , local b u si n e ss t a x) 6. 2 Tax ba se an d t ax rates 6. 3 V e n u e a n d ti m e o f fi lin g o f t a x r et u rn s 6. 4 V enue an d t i m e of paym ent 7. 0 P R EFE R EN TI AL TAX ATI O N * 7. 1 S en i or C iti ze ns La w * 7 . 1 . 1 E xem pt i o n f rom i n co me ta x o f q u a l i fi e d s e ni o r ci t i ze n s 7.1.2 Ta x i ncen t i ve s for q u a li fi e d e st a bli sh m e nts sellin g g o o d s a n d ser vi ce s t o se nior ci t izen s 7. 2 M ag na C ar t a for Disabl ed P er son s* 7. 2 . 1 Ta x i ncen t i ve s f or q u a l i fi e d e st a b l i sh m e nts se l l i n g g o o d s a n d ser vi ce s t o se n i or ci t i zen s 7. 3 S peci al E cono m i c Z on e A ct * 7. 3. 1 P oli cy an d t he P hi l i pp ineEco no mi c Z on e A ut ho rit y ( PE Z A ) 7 . 3 . 2 R e g i stra t i on o f i n ve st m e n t s 7. 3 .3 Fi sca l in ce n t ives t o P E Z A - re g ist e r e d e co n o m i c zo n e e n t er p ri se s 7. 4 O m nibu s I nvest m en t s C od e (B oo k 1 of E xecut i ve O r der 226) * 7. 4. 1 P ol i cy a nd t he B oa r d of I nve st m en t ( B O I ) 7. 4 . 2 P r e f err e d a rea s o f invest m e n t 7 . 4 . 3 I n ve st m e n t s P r i o r i t y P l a n 7. 4 .4 R e g istra t ion o f i n ve st m e n t s 7. 4 .5 F i sc a l in ce n t i ve s to B O I r e g ist e red e n terpri se s 7. 5 B ar an ga y M i cr o B usi ne ss E nt er pr i ses ( B M B E s) A ct * 7. 5. 1 R eg istration of BMB es 7. 5. 2 F i sca l I nc en t i ves t o B M B E s 7. 6 D ou bl e Taxat i on A gr ee m en t s ( D TA ) * 7. 6. 1 N at ur e an d purpo se o f D TA s 7. 6 . 2 M a n n er o f g i vi n g r e l i e f f r o m d o u b l e t a xat i o n 7. 6 .3 Pr o ce d u r e f o r av ail m e n t o f t a x t r e a t y b e n e fi t s N ew t op ics in R eg ul at ory Fram ew ork f or B us iness Tr an sa ct i on s ( f orm erl y B us ine ss L aw ) e ff ec ti ve in t heOct ob er , 20 17 C P A l i censure exam i na t i on : 4. 2 I nso l ven cy L aw * 4. 2 .1 D e fi n i t i o n of i n so lve n cy 4. 2. 2 S usp en si on o f pa ym en ts 4. 2 . 3 V o lunt a r y i n so l ve n cy 4 . 2 . 4 I n vo l unt a r y i n so l ve n cy
Transcript of Blt Oct 2017
8/20/2019 Blt Oct 2017
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Carlo Angelo Negado
November 1 at 6:15am ·Edited
New topics in Taxation effective in the October, 2017 CPA licensure examination:
6.0 TAXATION UNDER THE LOCAL GOVERNMENT CODE*
http://www.ntrc.gov.ph/files/Chapter-XI---Local-Taxes.pdf
http://www.chanrobles.com/localgov2.htm#.Vjq2FvmrSUm
6.1 Scope and different types of local taxes (Limited to Real property tax, local business tax)
6.2 Tax base and tax rates
6.3 Venue and time of filing of tax returns
6.4 Venue and time of payment
7.0 PREFERENTIAL TAXATION*
7.1 Senior Citizens Law*
7.1.1 Exemption from income tax of qualified senior citizens
7.1.2 Tax incentives for qualified establishments selling goods and services to senior citizens
7.2 Magna Carta for Disabled Persons*
7.2.1 Tax incentives for qualified establishments selling goods and services to senior citizens
7.3 Special Economic Zone Act*
7.3.1 Policy and the Philippine Economic Zone Authority (PEZA)
7.3.2 Registration of investments
7.3.3 Fiscal incentives to PEZA-registered economic zone enterprises
7.4 Omnibus Investments Code (Book 1 of Executive Order 226)*
7.4.1 Policy and the Board of Investment (BOI)
7.4.2 Preferred areas of investment
7.4.3 Investments Priority Plan
7.4.4 Registration of investments
7.4.5 Fiscal incentives to BOI registered enterprises
7.5 Barangay Micro Business Enterprises (BMBEs) Act*
7.5.1 Registration of BMBes
7.5.2 Fiscal Incentives to BMBEs
7.6 Double Taxation Agreements (DTA)*
7.6.1 Nature and purpose of DTAs
7.6.2 Manner of giving relief from double taxation
7.6.3 Procedure for availment of tax treaty benefits
New topics in Regulatory Framework for Business Transactions (formerly Business Law) effective in the October,
2017 CPA licensure examination:
4.2 Insolvency Law *
4.2.1 Definition of insolvency
4.2.2 Suspension of payments
4.2.3 Voluntary insolvency
4.2.4 Involuntary insolvency
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4.3 Corporate Rehabilitation *
4.3.1 Definition of Terms
4.3.2 Stay Order
4.3.3 Receiver
4.3.4 Rehabilitation Plan
4.3.5 Contents of Petition and other types of Rehabilitations
5.2 Bouncing Checks *
5.2.1 Checks without insufficient funds
5.2.2 Evidence of knowledge of insufficient funds
5.2.3 Duty of Drawee
5.2.4 Credit Construed
6.3 Cooperatives *
6.3.1 Organization and Registration of Cooperatives
6.3.2 Administration
6.3.3 Responsibilities, Rights and Privileges of Cooperatives
6.3.4 Capital, Property of Funds
6.3.5 Audit, Inquiry and Members’ Right to Examine
6.3.6 Allocation and Distribution of Funds
6.3.7 Types and Categories of Cooperatives
6.3.8 Merger and Consolidation of Cooperatives
6.3.9 Dissolution of Cooperatives
7.1 PDIC Law *
7.1.1 Insurable deposits
7.1.2 Maximum liability
7.1.3 Requirements for Claims
7.2 Secrecy of Bank Deposits and Unclaimed Balances Law *
7.3 General Banking Law *
7.3.1 Definition of Banks
7.4 AMLA Law *
7.4.1 Covered transactions
7.4.2 Suspicious transactions
7.4.3 Reportorial Requirement
7.5 The New Central Bank Act *
7.5.1 Legal tender power over coins and note
7.5.2 Conservatorship
7.5.3 Receivership and Closures
7.6 Intellectual Property Law (except provisions under Part 1 (Intellectual Property Office) *
7.6.1 The Law on Patents
7.6.2 The Law on Trademark, Service Marks and Trade Names
7.6.3 The Law on Copyright
from BOA Vice-Chair Dr. Gloria Tolentino-Baysa
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