PAL v EDU

TAN v DEL ROSARIO

How are entities taxed?
Individuals General Professional Partnerships (practice of common profession) (Schedular system)
Corporations - Fixed Rate (30%)
DC - taxed everywhere
CIR v DE LARA
Residence v Domicile?
R - physical
D - intention to return
At time of this case, R & D was synonymous, the prevailing construction.
If domiciled and residence is in abroad, beyond Phil jurisdiction (Territoriality)
Exception for situs = Reciprocity (when it states not subject to tax
NDC v CIR
(interest tax)
GREBA v ROMULO
Creditable Withholding Tax
MCIT
Rational? Repeated losses incurred, govt will relax tax laws.
But still possible when corp earns below the 2% floor, in a sense you are
paying higher tax? Remedy = Law allows you to carry it over to next paying period
(verify)
Capital Gains Tax (Capital Asset)
6% of gross selling price or fair market value whichever is higher
vs Ordinary Asset which is used in business
Issue in case: why u using CGT formula for Ordinary Asset?
Final tax v CWT
CIR v LEDNICKY
PHIL GUARANTY v CIR

(check picture on how Individuals are taxed)

Basis is SOURCE / Situs
KIENE v CIR
Estate - separate taxable entity left by deceased to be settled by administrator if
there is any
Trusts - " when alive such as Irrevocable trusts. (research)
PASCUAL v CIR
GPP v Business Partnership v Co-ownershipand their tax significance under the
Tax Code
Critical element of Habituality
as reflected by facts (# of assets bought, length of time os sale, # of
transactions)
ERICSON v CITY OF PASIG