Pahabol

Please include Kleinwachter's Conundrum in the discussion in II(A)(1)(a).

Assignment: June 3, 2008 (Session 2)

Assignment is III to V. Add Phil. Refining Co. v. CA (May 8, 1996) and Fernandez Hermanos, Inc. v. CIR (Sept. 30, 1969) under "bad debts." Materials to be emailed to Sam. Please let me know if we are meeting at 5PM.

Assignment: May 27, 2008 (Session 1)

Assignment is I and II of the outline. Mainly lecture; volunteers for some of the cases are welcome.

Rules of the Game and Other Odds & Ends

Course Objective - this course is primarily designed to provide the students with a fundamental understanding of income taxation of individuals and business entities; remedies of the government and the taxpayer under the National Internal Revenue Code (NIRC); estate and donor's taxes; VAT; local and real property taxation under the Local Government Code of 1991 (LGC) and general principles under the Tariff and Customs Code of the Philippines (TCCP).

Course Materials -

• Code: NIRC (Rep. Act. No. 8424 or the “Tax Reform Act of 1997”), as amended; Book II, Titles I and II of the LGC (Rep. Act No. 7160); relevant provisions of the TCCP;
• IRR: selected Rev. Regs. and other issuances;
• Textbook/s: none required; suggested reference textbooks: Philippine Income Taxation by Victorino C. Mamalateo & Law of Basic Taxation in the Philippines by Benjamin B. Aban
  

Responsibility for Assigned Readings/Topics - each student is responsible for the assigned readings/topics, whether or not actually taken up in class.

Academic Honesty - the maintenance of academic integrity is the responsibility of each student. Any form of dishonesty, whether in recitation or in exams, is a serious offense and will be dealt with severely.

Grade Distribution - class participation, midterms, finals - 20/40/40.

Policies on Recitation -

• None; recitation is voluntary
• Lecture-type medium of instruction

Policies on Exams - 

No make-up exam rule -

• If a student is unable to take the midterm exam, he/she must produce documentary evidence establishing a valid excuse;
• If a supported and valid excuse is found, the final exam will account for an increased percentage of the student’s final grade in lieu of the missed midterm exam;
• If no such excuse is found, the missed midterm exam will be graded as whichever is lower of 70% or minus 5 percentage points from the lowest grade obtained by any student who took the midterm exam;
• If a student is unable to take the final exam and the inability is excusable, the professor has the sole discretion to re-distribute the composition of the final grade or give a special exam;
• If a student is unable to take the final exam and the inability is inexcusable, the student gets an automatic final grade of 70%.

No change in grade rule - Grades for the exams are determined by a careful process designed to ensure fairness. Therefore, grades will not be changed unless there has been a clerical or computation error.