To: Madame Tressa Mortola, Ph.D.

, CPA
Re: Module for my subjects for pre-final and final periods for June 2020

From:
Melquiades A. Cancela, CPA
June 1-30, 2029 from Pre-Final to Final Periods, except Pre-CPA Review-Tax, only Final Exam
Prepared: May 24, 2020 Time: 3.22 pm

Module 1 (Tax 2 – Business Tax) – Pre- Final and Final Periods

Covered Subject Matters: Donor’s Tax and VAT
Class: MTH Rm#209 8:55 am-10:25 am and Rm#210 10:30 am – 12:00 Noon Total hours @13.5 hrs. Inclusive of 1 hour per periodic
examination

Module 11 (Business Regulatory – Other Business Regulatory Issues) Pre-Final and Final Periods)
Covered Subject Matters:
1. PDIC Law with selected detailed coverage on: Insurable Deposits, Maximum Liability and Requirements for claims
2. Bank Secrecy and Unclaimed Bank Balances: Updated rules of BSP
3. Anti-Money Laundering Act (AMLA) and Anti-Money Laundering Council (AMLC) with selected coverage on: Definition of
Terms; Unlawful activities; Covered Institutions/Persons (Suspicious Transactions); Record Keeping Requirements; Power of
the AMLC : and Reporting Requirements
4. Intellectual Property Law covering: The law on Patents; The Law on Trademark, Service Marks and Trade Names; and The
Law on Copyright.
5. Data Privacy Act covering: General Provisions and National Privacy Commission; Processing and Security of Personnel
Information; Right of the Date subject; Accountability for Transfer Information; Security of Sensitive Personal Information in
government; and Penalties
6. Electronic Commerce Act (E-Commerce) Covering: General Provisions; Legal Requirements and Communication of
electronic messages and documents; and Electronic commerce in carriage of goods and electronic transactions in the
government
7. Selected Updates and special Concern: Globalization; Digital Information and Technology (webinar and e-meeting); and
Effective Business Communication
 Class: MTH Rm#207 3:40 pm-5:00 pm and
TF Rm#215 8:55 am-10:25 am; Rm#214 10:30 am – 12:00 Noon; Rm#208 2:05-
3:35 pm and Rm#209 3:40 pm – 5:10 pm. Inclusive of 1 hour per periodic
examination

Module 111 (Pre-CPA Review in Taxation) – Business Taxation: Business Taxation Principles, Business Tax, Transfer Tax and Tax
Updates)
Detailed covered Subject matters: Principles of Business Taxation as differentiated from Income taxation; Business Tax (VAT,
Percentage Tax, Other Percentage tax, Excise Tax and Business DST); Transfer Tax (Principles: Donor’s and Estate tax; Forms,
deadlines filing and payments and penalties).

Class: F Rm#105-106 5:30 pm-8:30 pm inclusive 2 hours for final examination

Details of the Modules for Pre-Final and Final Periods for the month of June 2020

Module COURSE CONTENT EXPECTED LEARNING OUTPUT

#1 i. Donor’s Tax: Pre-final; 6 hours per class
2 classes Comprehend the essential requisites; appreciate the rationale;
Understand the types; and Master the computation, use of
forms and processes of Donor’s tax. Areas that should be
covered shall be: Gross gift; Exemptions; Tax rates in general and
when the done is a stranger; Venue and time of payment;
Modes of payment; Application of donor’s tax rates;
Accomplishing of tax returns and forms; Attachments to the tax
return; and Administrative requirements.
ii. Estate Tax: Final; 6 hours per class
Comprehend the concept of succession; Understand the types
and elements of succession; Appreciate the rationale of tax for
transfer of properties from decedent to heirs; Comprehend the
model in the estate taxation application; Understand the list of
taxable and exempt types of transfer of property; and Master
At the end of the period, the students are expected to be able to
1. Comprehend the essential requisites of giving a
gratuitous transaction of gift or donation
2. Appreciate and understand the types of donation
3. Learn the persons subject to and exempt from donor’s
tax and understanding the requirements.
4. Master the tax computation given the specific situation
5. Have an adequate knowledge on the required
attachments and the compliance of administrative
requirements in accomplishing and processing the forms.
At the end of the period, the students are expected to be able to
1. Comprehend the essential requisites of giving a
gratuitous transaction of estate transfer
2. Appreciate the rationale of estate transfer
3. Learn the transactions subject to and exempt from estate
 the computation of estate tax on various property regimes, the
use of forms and processes of estate tax. Areas that should be
covered shall be: Gross estate; Deductions allowed to estate;
Accomplishing of tax returns and forms; Attachments to the tax
return; and Administrative requirements.
Note: This will in consonance with the prepared and submitted
syllabus
# 11 i. Pre-final: 6 hours per class
6 classes 1. PDIC-Understand the insurable deposit; Maximum Liability;
and Requirements for claims
2. Secrecy of Bank Deposit and Unclaimed Balances – Remember
the new rules and regulations of the BSP on this matter.
3. Anti-Money Laundering Act (AMLA) and Anti-Money
Laundering Council (AMLC). Understanding the laws and
regulations and specific areas of the law with particular attention
to the following: Definition of terms; Unlawful Activities;
Covered Institutions/Persons on Suspicious transactions; Record
Keeping Requirements; Functions and Powers of the AMLC; and
Reporting Requirements.
ii. Final: 6 hours per class
1. Intellectual Property Law (except part1) – Understanding the
salient features of the following laws:
a. The Law on Patents
b. The Law on Trademark, Service Marks and Trade Names and
c. The Law on Copyright
2. Data Privacy Act-Understanding the salient features of the law
and its implementing regulations with emphasis on the
following: General Provisions and National Privacy Commission;
Processing and Security of personal Information; Right of the
Data Subject; Accountability for Transfer of Information; Security
of Sensitive Information in the Government; and Penalties
tax and understanding the requirements.
4. Master the tax computation given the specific situation
5. Have an adequate knowledge on the required
attachments and the compliance of administrative
requirements in accomplishing and processing the forms
At the end of the period, the students are expected to be able to
1. Comprehend, appreciate and understand important
salient features of PDIC, Bank Secrecy of Deposit and
Anti-Money Laundering Act/Anti-Money Laundering
Council.
2. Learn the business implication on the non-compliance of
the three (3) laws.
3. Master compliance requirements of the three (3)
business laws to protect the business entities and the
good business climate.
At the end of the period, the students are expected to be able to
1. Comprehend, appreciate and understand important
salient features of Intellectual Property Law (Law on
Patents; Law on Trademark, Service Marks and Trade
Names, and Law on Copyright); Data Privacy Act and
Electronic Commerce Act.
2. Learn the business implication on the non-compliance of
the three (3) laws.
3. Be able to know when to refer the business law issue to
the lawyer when encountered based on given legal
issues.
 3. Electronic Commerce Act-Understanding the salient features
of the law with specific focus on the following: General
Provisions; Legal Requirements and Communication of electronic
messages and documents; and Electronic Commerce in carriage
of goods and electronic transactions in the government.
4. Updates and Special Concerns on the following: Globalization;
Digital and Information Technology; and Effective Business
Communication.
Note 1: This will in consonance with the prepared and
submitted syllabus
Note 2: This should have been a one (1) semester class but due
to change in the BOA approved syllabus effective May 2019,
some subject matter not taken up were taken this semester.
E.g. Sales and Bailments, Credits and Negotiable Instrument
Law and Cooperative.
# 111 Pre-CPA Review in Taxation (Business Law) –Final: 12 hours
1 class of Refresh the knowledge, understanding and comprehension on
80 the subject matters taken up in Business Taxation (Tax 2)
students covering the following areas for mastery and adequate handy
knowledge:
a. Business Taxes, its principles, laws, regulations and
applications
1. Valued Added Tax and Percentage Tax
1.1 Salient features of VAT, Percentage Tax and
Other Percentage Ta.
1.2 Output and Input tax
1.3 Input Tax Credits and Refunds
1.4 Venue and time of filing/ payment of
VAT/Percentage tax returns
1.5 Mode of payment and acknowledgement of
returns, forms and attachments
4. Master compliance requirements of the three (3)
business laws to protect the business entities and the
good business climate.
At the end of the period, the students are expected to be able to:
Have general knowledge on business globalization, application of
latest digital information technology and effective business
communication.
At the end of the period the students are expected to have a
refreshed knowledge of Business Taxation covering all subjects in
Tax 2. Specifically the student are expected to have enriched the
knowledge of business and transfer taxes which will equip them
with the skill of preparing tax return and be confident to
undertake an actual CPA Review class covering Business and
Transfer Taxation. Such knowledge can be validated by correctly
understanding the laws and regulations and in applying such laws
and regulations on the following taxation areas:
a. Business tax
1. Value Added Tax
2. Percentage Tax
3. Other Percentage Tax
4. Excise Tax
5. Documentary Stamp Tax
 1.6 Invoicing and Accounting Requirements
2. Excise Tax and Documentary Stamp tax
2.1 Its description, its analysis and computation
2.2 Definition, Concept, applicability, classification,
coverage, exemption, tax rates, time and place
of payment
2.3 Other salient features of Excise and
Documentary stamp tax.

b. Transfer Tax, its features, principles, laws, regulation and b. Transfer Tax
application 1. Donor’s Tax
1. Donor’s Tax – Its nature and the purpose of the law 2. Estate Tax
1.1 Gross gift, exemptions, types of donees
1.2 Venue and time of filing and payment
1.3 Mode of payment, rate and accomplishment of
tax returns, forms, attachments and
administrative requirements.
2. Estate Tax – Its nature and the purpose of the law
1.1 Gross estate and allowed deductions
1.2 Tax credit, venue and time of filing tax returns
and payments
1.3 Mode of payment, rate and accomplishment of
tax returns, forms, attachments and
administrative requirements

Note: This will in consonance with the prepared and submitted

syllabus

Book and Reading Materials to be secured by Students
Books:
1. Business Tax: -Business Taxes and Transfer Taxes (Under Train
Law) The 2019 Edition: Virgilio D. Reyes
2. Business Regulatory – Business Regulatory Laws Compilation
and Annotation: Updated by: Melquiades A. Cancela, CPA
Number of soft/Hard Copies to given to the Students
To be given to when giving assignment:
1. Business Tax: Approximately 100 pages excluding examination
2. Business Regulatory: Approximately 100 pages excluding
examination
3. Pre-CPA review Taxation –Approximately 200 pages excluding
 3. Pre-CPA Review-Taxation – Income Taxation and Transfer Tax examination.
of Virgilio Reyes and Rex Bannggawan
Lecture shall be augmented by goggle class, zoom lecturing and related Any changes shall be duly communicated to all concern.
apps.

File: June 2020 modules (pre-final & final periods)