In preparation
Business and Transfer Taxation for Accountancy Students
Principles, Computation and Practice
Value-added tax, percentage and excise taxes, documentary stamp tax, and the taxation of transfers by death and by donation — written to the second taxation course in the accountancy programme.
Who it is for
CPALE candidates
The syllabus covered in the order the examination asks for it, with worked computations throughout.
Accountancy students
The rule, then the computation, then the entry — each chapter closing with problems and answers.
Practitioners
Filing, substantiation, and compliance, against the current forms and deadlines.
Inside the book
The book divides where the subject does: the taxes on doing business, and the taxes on passing property to someone else.
The larger half is value-added tax, taken slowly because it is where marks are won and lost. The concept and the elements of a VATable transaction; sale of goods and properties; sale of services and the lease or use of property; importation; the exempt and zero-rated transactions and the difference between an exempt person and an exempt transaction; input tax, output tax, and the refund claim under Section 112. It closes with comprehensive problems and the compliance requirements — registration, invoicing, books, and the penalties for getting them wrong.
Then the other business taxes: percentage taxes including the tax on persons exempt from VAT and the stock transaction tax; excise taxes; and documentary stamp tax.
The transfer taxes take the final chapters. Estate tax is split in two — first the inclusion side, being the classification of the decedent, situs and reciprocity, the composition of the gross estate, property relations between spouses, and valuation; then the deduction side, being ordinary and special deductions, the family home, the spousal share, and the computation of the net taxable estate in the three-column form. Donor's tax follows, with the elements of a valid donation, exempt gifts, valuation, and the resident and non-resident rules.
The law is stated as it now stands under EOPT, the value-added tax on digital services, CREATE MORE and CMEPA — not under the terminology most textbooks still carry.
In preparation
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For faculty
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