Income Taxation (Under Alfonso S Bestoyong. CPA. MBA) Important Notes on Income Taxation (your answer/s must be at least one page per question, and please quote your reference) 1 State the objectives, nature, and basis of taxation. 2 Explai

Income Taxation (Under Alfonso S Bestoyong. CPA. MBA) Important Notes on Income Taxation (your answer/s must be at least one page per question, and please quote your reference) 1 State the objectives, nature, and basis of taxation. 2 Explain the constitutionality of taxation and summarize the Philippine Tax Laws and Taxes. 3 Discuss the classification of individual income taxpayers and the categories of income and tax rates 4 Enumerate allowable deductions and explain the kinds of personal exemptions allowed. 5 Are there individuals exempted from income tax? Who are they? 6 Give and simply explain examples of corporate income and allowable deductions 7 Explain withholding taxes, and tax credits applicable. NOTE: ALL YOUR ANSWERS MUST BE BASED ON LATEST “TRAIN” LAW… IF THE QUESTION IS NO LONGER APPLICABLE IN “TRAIN” LAW, EXPLAIN THE DIFFER
YOU MAY TYPE YOUR ANSWER STARTING BELOW THIS NOTE: or YOU MAY TRANSFER THE QUESTIONS and ANSWER THEM IN MICROSOFT (Os use a lower version for consistency with others’ reports)