Section 127(A) - Shares listed and traded through the stock exchange

Section 109 should be read in relation to Section 116 Define and explain
gross income taxation Advantages of gross income taxation Section 25(A)(1)
Deductions available to RFC Definition found in jurisprudence of 'engaged in
doing business' as regards RFC (note that the defn found in Section 22(H) is
defective) Schedular vs global Section 26 (Fave Bar Q) Section 32(A) property income Section 33(B)(10) Section 33(A)(1) vs 33(A) Section 33(B)(1)
- FBT specifically adjacent houses provided to ee by er Section 39(A)(1)
Section 34(D)(3) vs 39(D) Section 24(D) vs 27(D)(5) Section 25(C) (D) (E)
Offline international airlines Remedies: RPT remedy & payment under protest
Section 187 of the LGC
- Compromise v. Abatement- De minimis value v. De minimis
benefits. - Qualified Dependents for purposes of Additional ExemptionsTaxability of Campaign Contributions- NOLCO v. NCLCO- Sec. 112 v.
229- Requisites of a valid FAN- Requisites of a valid waiver- CTA has no
jurisdiction over annulment of judgment

SEC. 127. Tax on Sale, Barter or Exchange of Shares of Stock Listed and
Traded through the Local Stock Exchange or through Initial Public Offering. (A) Tax on Sale, Barter or Exchange of Shares of Stock Listed and Traded
through the Local Stock Exchange. a tax at the rate of one-half of one
percent (1/2 of 1%) of the gross selling price or gross value in money of the
shares of stock sold, bartered, exchanged or otherwise disposed which shall
be paid by the seller or transferor.
SEC. 109. Exempt Transactions and SEC. 116. Tax on Persons Exempt from
Value-Added Tax (VAT).

SEC. 25. Tax on Nonresident Alien Individual. (A) Nonresident Alien Engaged in trade or Business Within the Philippines. (1) In General. - A nonresident alien individual engaged in trade or business
in the Philippines shall be subject to an income tax in the same manner as an
individual citizen and a resident alien individual, on taxable income received
from all sources within the Philippines. A nonresident alien individual who

shall come to the Philippines and stay therein for an aggregate period of
more than one hundred eighty (180) days during any calendar year shall be
deemed a 'nonresident alien doing business in the Philippines'
SEC. 26. Tax Liability of Members of General Professional Partnerships

SEC. 32. Gross Income. (A) General Definition. - Except when otherwise provided in this Title, gross
income means all income derived from whatever source, including (but not
limited to) the following items:
(1) Compensation for services in whatever form paid, including, but not
limited to fees, salaries, wages, commissions, and similar items;
(2) Gross income derived from the conduct of trade or business or the
exercise of a profession;
(3) Gains derived from dealings in property;
(4) Interests;
(5) Rents;
(6) Royalties;
(7) Dividends;
(8) Annuities;
(9) Prizes and winnings;
(10) Pensions; and
(11) Partner's distributive share from the net income of the general
professional partnership.

SEC. 33. Special Treatment of Fringe Benefit. (B) Fringe Benefit Defined. (10)
Life or health insurance and other non-life insurance premiums or similar
amounts in excess of what the law allows.

SEC. 33. Special Treatment of Fringe Benefit. -(B) Fringe Benefit Defined (1)
Housing; FBT specifically adjacent houses provided to ee by er

SEC. 39. Capital Gains and Losses. (A) Definitions. - As used in this Title (1) Capital Assets. - The term 'capital assets' means property held by the
taxpayer (whether or not connected with his trade or business), but does not
include stock in trade of the taxpayer or other property of a kind which would
properly be included in the inventory of the taxpayer if on hand at the close
of the taxable year or property held by the taxpayer primarily for sale to
customers in the ordinary course of his trade or business, or property used in
the trade or business, of a character which is subject to the allowance for
depreciation provided in Subsection (F) of Section 34; or real property used
in trade or business of the taxpayer.

SEC. 34. Deductions from Gross Income. (D) Losses. (3) Net Operating Loss
Carry-Over vs. SEC. 39. Capital Gains and Losses. (D) Net Capital Loss CarryOver.

SEC. 24. Income Tax Rates. - (D) Capital Gains from Sale of Real Property. Vs
SEC. 27. Rates of Income tax on Domestic Corporations. (D) Rates of Tax on
Certain Passive Incomes. (5) Capital Gains Realized from the Sale, Exchange
or Disposition of Lands and/or Buildings.

SEC. 25. Tax on Nonresident Alien Individual. -(C) Alien Individual Employed
by Regional or Area Headquarters and Regional Operating Headquarters of
Multinational Companies. -(D) Alien Individual Employed by Offshore Banking
Units. (E) Alien Individual Employed by Petroleum Service Contractor and
Subcontractor

Section 187. Procedure for Approval and Effectivity of Tax, Ordinances and
Revenue Measures; Mandatory Public Hearings.

It is clear from the Tax Code provisions that compromise will involve
the payment of an amount prescribed by law and regulations; while
abatement means there will be no payment involved, as it ultimately
cancels out any liability.

De minimis value is the value of goods for which no duty or tax is collected while De
Minimis benefits are those benefits of relatively small values given by employers to
their employee on top of the compensation and these benefits are not subject to
withholding (tax exempt)

Campaign contributions must have been utilized to cover a candidates

expenditures for his/her electoral campaign to be considered as exempt from
Income Tax. Unutilized/excess campaign funds, that is, campaign
contributions net of the candidates campaign expenditures, shall be
considered as subject to Income Tax, and as such, must be included in the
candidates taxable income as stated in his/her Income Tax Return (ITR) filed
for the subject taxable year.Any candidate winning or losing who fails to f
ile with the COMELEC the appropriate Statement of Expenditures required
under the Omnibus Election Code shall be automatically precluded from
claiming such expenditures as deductions from his/her campaign
contributions. As such, the entire amount of such campaign contributions
shall be considered as directly subject to Income Tax.
CTA has no jurisdiction over annulment of judgment CIR vs KEPCO (G.R.
No.199422, 21 June 2016. The Revised Rules of the CTA and even the Rules
of Court which apply suppletorily thereto provide for no instance in which the
en banc may reverse, annul or void a final decision of a division. Verily, the
Revised Rules of the CTA provide(s) for no instance of an annulment of
judgment at all. As earlier explained, the silence of the Rules may be
attributed to the need to preserve the principles that there can be no
hierarchy within a collegial court between its divisions and the en banc, and
that a courts judgment, once final, is immutable.