Course Syllabus Taxation 2

COURSE SYLLABUS Second Semester, AY 2012-2013  TAXA  TAXATION TION 2  JOSE! " " BATON BATON Co##e$e o% L&' Re%erence Re%erence (&ter)&#s* ESTATE TAX

B. Estate tax 1" B&s) B&s)c c +r) +r)nc nc)+ )+#e #es s 2" e en) n)tt)on )on 3" N&t.re /" .r+ .r+os ose e or or o oec ectt " T)me &nd &nd tr&ns%e tr&ns%err o% +ro+e +ro+ert) rt)es es " C#&ss) C#&ss)c& c&t)o t)on n o% dece deceden dentt 4" 5ross 5ross est&t est&te e 6)s-7-6 6)s-7-6)s )s net est&t est&te e 8" eterm)n& eterm)n&t)on t)on o% o% $ross $ross est&te est&te &nd &nd net est&t est&te e 9" Com+os Com+os)t) )t)on on o% $ro $ross ss est&te est&te 10"Items to e )nc#.ded )n $ross est&te 11"ed.ct)ons %rom est&te

12"E:c#.s)ons %rom est&te 13"T&: cred)t %or est&te t&:es +&)d )n & %ore)$n co.ntr; 1/"E:em+t)on o% cert&)n &c)n 0 d&;s %rom d&te o% cons)$nment d? Ret)rement %rom or cess&t)on o% .s)ness ')t> res+ect to )n6entor)es on >&nd

11"C>&n$e or cess&t)on o% st&t.s &s AT-re$)stered +erson &? S.ect to AT G)? C>&n$e o% .s)ness &ct)6)t; %rom AT t&:&#e st&t.s to ATe:em+t st&t.s G))? A++ro6&# o% re&n$e )n t>e tr&de or cor+or&te n&me G)))?(er$er or conso#)d&t)on o% cor+or&t)ons 12"AT on )m+ort&t)on o% $oods &? Tr&ns%er o% $oods ; t&: e:em+t +ersons 13"AT on s&#e o% ser6)ce &nd .se or #e&se o% +ro+ert)es

&? Re&se or )m+ort&t)on o% $oods ? .rc>&se o% re&# +ro+ert)es %or '>)c> & AT >&s &ct.&##; een +&)d c? .rc>&se o% ser6)ces )n '>)c> AT >&s &ct.&##; een +&)d d? Tr&ns&ct)ons deemed s&#e e? Tr&ns)t)on&# )n+.t t&: %? res.m+t)6e )n+.t t&: $? Tr&ns)t)on&# )n+.t t&: cred)ts &##o'ed .nder t>e tr&ns)tor; &nd ot>er +ro6)s)ons o% t>e re$.#&t)ons 18"ersons '>o c&n &6&)# o% )n+.t t&: cred)t 19"eterm)n&t)on o% o.t+.t@)n+.t t&:H AT +&;&#eH e:cess )n+.t t&: cred)ts &? eterm)n&t)on o% o.t+.t t&: ? eterm)n&t)on o% )n+.t t&: cred)t&#e c? A##oc&t)on o% )n+.t t&: on m):ed tr&ns&ct)ons d? eterm)n&t)on o% t>e o.t+.t t&: &nd AT +&;&#e &nd com+.t&t)on o% AT +&;&#e or e:cess t&: cred)ts 20"20" S.st&nt)&t)on o% )n+.t t&: cred)ts

21"Re%.nd or t&: cred)t o% e:cess )n+.t t&: &? >o m&; c#&)m %or re%.nd@&++#; %or )ss.&nce o% t&: cred)t cert)c&te ? er)od to #e c#&)m@&++#; %or )ss.&nce o% t&: cred)t cert)c&te c? (&nner o% $)6)n$ re%.nd d? est)n&t)on +r)nc)+#e or cross-order doctr)ne 22"In6o)c)n$ reod %or )ncome determ)n&t)on Gd? Jeo+&rd; &ssessment Ge? T&: de#)ne comm)ss)oner to ot&)n )n%orm&t)on, &nd to s.mmon@e:&m)ne, &nd t&Ke test)mon; o%  +ersons G)))?>en &ssessment )s m&de G&? rescr)+t)6e +er)od %or &ssessment G1? =&#se, %r&.d.#ent, &nd non-#)n$ o% ret.rns G? S.s+ens)on o% r.nn)n$ o% st&t.te o% #)m)t&t)ons G)6? 5ener&# +ro6)s)ons on &dd)t)ons to t>e t&: G&? C)6)# +en&#t)es

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G? Interest G6? Assessment +rocess G&? T&: &.d)t G? Not)ce o% )n%orm&# con%erence Gc? Iss.&nce o% +re#)m)n&r; &ssessment not)ce Gd? Not)ce o% )n%orm&# con%erence Ge? Iss.&nce o% +re#)m)n&r; &ssessment not)ce G%? E:ce+t)ons to )ss.&nce o% +re#)m)n&r; &ssessment not)ce G$? Re+#; to +re#)m)n&r; &ssessment not)ce G>? Iss.&nce o% %orm&# #etter o% dem&nd &nd &ssessment not)ce@n&# &ssessment not)ce G)? )s+.ted &ssessment G? Adm)n)str&t)6e dec)s)on on & d)s+.ted &ssessment 6)? rotest)n$ &ssessment G&? rotest o% &ssessment ; t&:+&;er G1?rotested &ssessment G2?>en to #e & +rotest G3? =orms o% +rotest G? S.m)ss)on o% doc.ments ')t>)n 0 d&;s %rom #)n$ o%  +rotest Gc? Eect o% %&)#.re to +rotest G6))? Rend)t)on o% dec)s)on ; comm)ss)oner G&? en)&# o% +rotest G1? Comm)ss)oners &ct)ons e)n 180 d&;s %rom s.m)ss)on o% doc.ments Gc? Eect o% %&)#.re to &++e&# ? Co##ect)on G)? Rement G&? S.mm&r; remed; o% d)str&)nt o% +erson&# +ro+ert; G1? roced.re %or d)str&)nt &nd $&rn)s>ment G2? S&#e o% +ro+ert; d)str&)ned &nd d)s+os)t)on o% +roceeds G&? Re#e&se o% d)str&)ned +ro+ert; .+on +&;ment +r)or to s&#e

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G3? .rc>&se ; t>e $o6ernment &t s&#e .+on d)str&)nt G/? Re+ort o% s&#e to t>e BIR G? Constr.ct)6e d)str&)nt to +rotect t>e )nterest o% t>e $o6ernment G)6? S.mm&r; remed; o% #e6; on re&# +ro+ert; G&? Ad6ert)sement &nd s&#e G? Redem+t)on o% +ro+ert; so#d Gc? =)n&# deed o% +.rc>&ser G6? =or%e)t.re to $o6ernment %or '&nt o% )dder G&? Remed; o% en%orcement o% %or%e)t.res G1? &ct)on to contest %or%e)t.re o% c>&tte# G? Res&#e o% re&# est&te t&Ken %or t&:es Gc? >en +ro+ert; to e so#d or destro;ed Gd? )s+os)t)on o% %.nds reco6ered )n #e$&# +roceed)n$s or ot&)ned %rom %or%e)t.re G6)? =.rt>er d)str&)nt or #e6; G6))? T&: #)en G6)))? Com+rom)se G&? A.t>or)t; o% t>e comm)ss)oner to com+rom)se &nd &&te t&:es G):? C)6)# &nd cr)m)n&# &ct)ons G&? S.)t to reco6er t&: &sed on %&#se or %r&.d.#ent ret.rns c? Re%.nd G)? 5ro.nds &nd ree CTA ')t>)n 2 ;e&rs %rom d&te o% +&;ment re$&rd#ess o% &n; s.+er6en)n$ c&.se G)))?Le$&# &s)s o% t&: re%.nds G)6? St&t.tor; &s)s %or t&: re%.nd .nder t>e t&: code G&? Sco+e o% c#&)ms %or re%.nd G? Necess)t; o% +roo% %or c#&)m or re%.nd Gc? B.rden o% +roo% %or c#&)m o% re%.nd Gd? N&t.re o% erroneo.s#; +&)d t&:@)##e$&##; &ssessed co##ected Ge? T&: re%.nd 6)s-7-6)s t&: cred)t G%? Essent)&# reo m&; c#&)m@&++#; %or t&: re%.nd@t&: cred)t G&? T&:+&;er@')t>>o#d)n$ &$ents o% non-res)dent %ore)$n cor+or&t)on G6)? rescr)+t)6e +er)od %or reco6er; o% t&: erroneo.s#; or )##e$&##; co##ected

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2" /oernment remedies &? Adm)n)str&t)6e remed)es G)? T&: #)en G))? Le6; &nd s&#e o% re&# +ro+ert; G)))?=or%e)t.re o% re&# +ro+ert; to t>e $o6ernment %or '&nt o%  )dder G)6? =.rt>er d)str&)nt &nd #e6; G6? S.s+ens)on o% .s)ness o+er&t)on G6)? Non-&6&)#&)#)t; o% )n.nct)on to restr&)n co##ect)on o% t&: ? J.d)c)&# remed)es 3" Statutor o0enses and penalties &? C)6)# +en&#t)es G)? S.rc>&r$e G))? Interest G&? In $ener&# G? ec)enc; )nterest Gc? e#)nor)t; to $r&nt #oc&# t&: e:em+t)ons d? )t>dr&'&# o% e:em+t)ons e? A.t>or)t; to &d.st #oc&# t&: r&tes %? Res)d.&# t&:)n$ +o'er o% #oc&# $o6ernments $? A.t>or)t; to )ss.e #oc&# t&: ord)n&nces Loc&# t&:)n$ &.t>or)t; &? o'er to cre&te re6en.es e:erc)sed t>ro.$> Loc&# 5o6ernment Un)ts ? roced.re %or &++ro6&# &nd eect)6)t; o% t&: ord)n&nces Sco+e o% t&:)n$ +o'er S+ec)c t&:)n$ +o'er o% Loc&# 5o6ernment Un)ts GL5Us? &? T&:)n$ +o'ers o% +ro6)nces G)? T&: on tr&ns%er o% re&# +ro+ert; o'ners>)+ G))? T&: on .s)ness o% +r)nt)n$ &nd +.#)c&t)on G)))?=r&nc>)se t&: G)6? T&: on s&nd, $r&6e# &nd ot>er &r$es e? A.t>or)t; o% tre&s.rer )n co##ect)on &nd )ns+ect)on o% ooKs T&:+&;ers remed)es

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&? er)ods o% &ssessment &nd co##ect)on o% #oc&# t&:es, %ees or c>&r$es ? rotest o% &ssessment c? C#&)m %or re%.nd o% t&: cred)t %or erroneo.s#; or )##e$&##; co##ected t&:, %ee or c>&r$e 9" C)6)# remed)es ; t>e L5U %or co##ect)on o% re6en.es &? Loc&# $o6ernments #)en %or de#)n&r$es ? C)6)# remed)es, )n $ener&# G)? Adm)n)str&t)6e &ct)on G))? J.d)c)&# &ct)on c? roced.re %or &dm)n)str&t)6e &ct)on G)? )str&)nt o% +erson&# +ro+ert; G))? Le6; o% re&# +ro+ert;, +roced.re G)))?=.rt>er d)str&)nt or #e6; G)6? E:em+t)on o% +erson&# +ro+ert; %rom d)str&)nt or #e6; G6? en&#t; on #oc&# tre&s.rer %or %&)#.re to )ss.e &nd e:ec.te '&rr&nt o% d)str&)nt or #e6; d? roced.re %or .d)c)&# &ct)on B" Re&# +ro+ert; t&:&t)on 1" =.nd&ment&# +r)nc)+#es 2" N&t.re o% re&# +ro+ert; t&: 3" Im+os)t)on o% re&# +ro+ert; t&: &? o'er to #e6; re&# +ro+ert; t&: ? E:em+t)on %rom re&# +ro+ert; t&: /" A++r&)s&# &nd &ssessment o% re&# +ro+ert; t&: &? R.#e on &++r&)s&# o% re&# +ro+ert; &t %&)r m&rKet 6&#.e ? ec#&r&t)on o% re&# +ro+ert; c? L)st)n$ o% re&# +ro+ert; )n &ssessment ro##s d? re+&r&t)on o% sc>ed.#es o% %&)r m&rKet 6&#.e G)? A.t>or)t; o% &ssessor to t&Ke e6)dence G))? Amendment o% sc>ed.#e o% %&)r m&rKet 6&#.e e? C#&sses o% re&# +ro+ert; %? Act.&# .se o% +ro+ert; &s &s)s o% &ssessment $? Assessment o% re&# +ro+ert; G)? Assessment #e6e#s G))? 5ener&# re6)s)ons o% &ssessments &nd +ro+ert; c#&ss)c&t)on G)))?&te o% eect)6)t; o% &ssessment or re&ssessment G)6? Assessment o% +ro+ert; s.ect to &cK t&:es G6? Not)c&t)on o% ne' or re6)sed &ssessment >? A++r&)s&# &nd &ssessment o% m&c>)ner; !a"e &8 o% &'

" Co##ect)on o% re&# +ro+ert; t&: &?&te o% &ccr.&# o% re&# +ro+ert; t&: ? Co##ect)on o% t&: G)? Co##ect)n$ &.t>or)t; G))? .t; o% &ssessor to %.rn)s> #oc&# tre&s.rer ')t> &ssessment ro##s G)))?Not)ce o% t)me %or co##ect)on o% t&: c? er)ods ')t>)n '>)c> to co##ect re&# +ro+ert; t&: d? S+ec)&# r.#es on +&;ment G)? &;ment o% re&# +ro+ert; t&: )n )nst&##ments G))? Interests on .n+&)d re&# +ro+ert; t&: G)))?Condon&t)on o% re&# +ro+ert; t&: e?Remed)es o% L5Us %or co##ect)on o% re&# +ro+ert; t&: G)? Iss.&nce o% not)ce o% de#)n&r$es G6? =.rt>er #e6; .nt)# %.## +&;ment o% &mo.nt d.e " Re%.nd or cred)t o% re&# +ro+ert; t&: &?&;ment .nder +rotest ? Re+&;ment o% e:cess)6e co##ect)ons 4" T&:+&;ers remed)es &?Contest)n$ &n &ssessment o% 6&#.e o% re&# +ro+ert; G)? A++e&# to t>e Loc&# Bo&rd o% Assessment A++e&#s G))? A++e&# to t>e Centr&# Bo&rd o% Assessment A++e&#s G)))?Eect o% +&;ment o% t&: " &;ment o% re&# +ro+ert; .nder +rotest G)? =)#e +rotest ')t> #oc&# tre&s.rer G))? A++e&# to t>e Loc&# Bo&rd o% Assessment A++e&#s G)))?A++e&# to t>e Centr&# Bo&rd o% Assessment A++e&#s G)6? A++e&# to t>e CTA G6? A++e&# to t>e S.+reme Co.rt +V. Tari0 and Customs Code o% #'9$5 as amended

A" T&r) &nd d.t)es, dened B" 5ener&# r.#e* &## )m+orted &rt)c#es &re s.ect to d.t;" 1" Im+ort&t)on ; t>e $o6ernment t&:&#e C" .r+ose %or )m+os)t)on