20. Preparation and submission of financial statements
accompanying tax returns .......................................... 499 21. Return filed by Commissioner .............................................. 502 22. Electronic filing and payment system ................................. 502 23. Extension of time to file return ............................................ 504 24. Disposition of returns ........................................................... 505 25. Publication of lists of taxpayers and filers .......................... 505
B. Payment of Tax
1. Manual payment .................................................................. 506 2. Place of payment of tax ........................................................ 508 3. Rules in the case of large taxpayers .................................... 509 4. Date of payment of tax ......................................................... 511 5. Late payment of tax under meritorious circumstances .............................................................. 512 6. Exceptions as regards date of payment ............................... 513 7. Termination of taxable period.............................................. 514 8. Where tax not otherwise collectible from owner of income........................................................... 514 9. Deductions from income tax shown in return ..................... 515 10. Payment of tax in installments where there are deductions ............................................................. 515
THE LAW ON INCOME TAXATION
12. Finality of assessments ....................................................... 553 13. Definition of deficiency ........................................................ 554 14. Prescriptive periods for assessment ................................... 557 15. Rules on waivers of the defense of prescription ................. 558
C. Withholding of Income Taxes
xx 1. Concept of a withholding tax................................................ 517 2. Primary reasons for the withholding tax system................ 517 3. Kinds of withholding of income taxes .................................. 517 4. Kinds of withholding tax at source ...................................... 518 5. Requisites for withholding tax ............................................. 519 6. Cases when final withholding tax at source required ........ 519 7. Cases when creditable withholding tax required ............... 521 8. Persons required to deduct and withhold creditable withholding tax .......................................................... 522 9. Obligation imposed upon buyer-payor of income .............. 522 10. Exemption of seller-payee of income ................................... 523 11. Time of withholding.............................................................. 523 12. Liability of withholding agent.............................................. 524 13. Exemption from withholding ............................................... 525 14. Returns and payments of taxes withheld at source............ 527 15. Statement to be given to recipient of payment ................... 527 16. Annual information return................................................... 528 17. Income of recipient................................................................ 528 18. Returns on profits collectible from owner or other person ............................................................ 528 19. Person entitled to claim for tax credit or refund................. 529 20. Purpose and scope of withholding on wages ....................... 530 21. Elements of withholding on wages ...................................... 530 22. Amounts to be withheld........................................................ 531 23. Year-end adjustment ............................................................ 532 24. Liability for tax ..................................................................... 532 25. Statements and returns ....................................................... 533
C. Additions to the Tax
1. Definition and nature of surcharge ...................................... 559 2. Definition of delinquency and deficiency ............................. 559 3. Nature of delinquency and deficiency interest .................... 559 4. Payment of surcharge and interest mandatory .................. 560 5. When surcharge to be imposed ............................................ 560 6. When interest to be assessed and collected......................... 565 7. Other additions to the tax .................................................... 572
D. Collection of Income Tax
1. Judicial proceedings not essential ....................................... 573 2. Remedies available to the government................................ 573 3. Meaning of distraint ............................................................. 574 4. Kinds of distraint .................................................................. 574 5. Meaning of levy (on real property)....................................... 574 6. How levy effected .................................................................. 574 7. Meaning of forfeiture ............................................................ 575 8. How remedy of forfeiture enforced....................................... 575 9. Meaning of tax lien ............................................................... 575 10. Extent and nature of tax lien .............................................. 575 11. Requiring the filing of bonds ................................................ 576 12. Making arrest, search, and seizure ..................................... 576 13. Deportation of aliens ............................................................ 576 14. Inspection of books of accounts ............................................ 577 15. Prescribing real property values.......................................... 577 16. Judicial action ....................................................................... 578 17. Criminal action as a remedy ................................................ 578 18. Prescriptive periods for collection ........................................ 579 19. When period of limitations interrupted............................... 580 20. Purpose of periods of limitation ........................................... 580
Chapter XV. — Tax Administration and Procedure
A. Functions and Agencies Involved
1. Stages and processes ........................................................... 534 2. Meaning of tax administration ........................................... 535 3. Powers of the Bureau of Internal Revenue ........................ 535 4. Powers of the Commissioner ............................................... 535 5. Authority of Commissioner to delegate powers vested in him ................................................. 536 6. Authority of Commissioner to obtain information, etc ...... 536 7. Authority of Commissioner to conduct inventory taking surveillance ..................................................... 538 8. Authority of Commissioner to prescribe presumptive gross sales and receipts ............................................. 538 9. Authority of Commissioner to inquire into bank deposit accounts ......................................................... 539 10. Authority of Commissioner to compromise, abate or cancel tax liability ...................................................... 539 11. Authority of Commissioner to refund or credit taxes ........ 540 12. Authority of Commissioner to make assessments ............. 541
E. Crimes and Other Offenses
6. Exhibition of notice of place of business ............................. 584 7. Failure to obey summons ..................................................... 585 8. Declaration under penalties of perjury................................ 585 9. Violations committed by government enforcement officers .......................................................................... 586 10. Other penal provisions ......................................................... 587 Index ......................................................................................................... 588 10. Other penal provisions ......................................................... 587 Index ......................................................................................................... 588 6. Exhibition of notice of place of business ............................. 584 7. Failure to obey summons ..................................................... 585 8. Declaration under penalties of perjury................................ 585 9. Violations committed by government enforcement officers .......................................................................... 586 xxii 1. Generally ............................................................................... 581 2. Attempt to evade or defeat tax............................................. 582 3. Failure to file return, supply information, keep record, pay, withhold, remit, and refund tax ......................... 582 4. Penal liability of corporations .............................................. 582 5. Penal liability for making false entries, records, or reports ..................................................................... 583
B. Assessment of Income Tax
1.
Assessment not generally required .................................... 542
2. When assessment required ................................................. 543 3. Definition of assessment ...................................................... 543 4. Authority to make assessments .......................................... 544 5. Requisites for a valid assessment or deficiency tax ........... 544 6. Nature of assessment .......................................................... 544 7. Effect of assessment ............................................................ 545 8. Presumption of correctness ................................................. 545 9. Due process requirements in issuance of deficiency tax assessment .......................................................... 546 10. Protesting of assessment ..................................................... 550 11. Assessments appealable to the Court of Tax Appeals ....... 552
— oOo —
— oOo —
71
xxi
Made with FlippingBook - Online Brochure Maker