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Taxation
Is a state power excercised through the countrys
legislative body. In the Philippines, tax laws are passed
both in the House of Representatives and the Senate.
power to tax
Government entities are exempted
Gross Income
Net Income
Deductions
Taxable Income refers to the gross income
minus the deductions allowable by law and
the personal and additional exemptions.
1. Citizens
2. Aliens
. Corporation
. General Partnership
Status of Taxpayers
1. Married taxpayers are those who are
legally and lawfully married. With or
without children or with legally adopted
children. One of them or both of them may
be employed.