Recit Grade

If you'd like to know your recitation grades, please send me a blank email (with your full name as the subject heading) to which I'll reply with your grades.  

Final Exam

Your final exam is scheduled on Dec. 15, 2008, 5:30 - 8:00 PM.  Please be at the exam room early.  Coverage is II - XVI.  Mainly essay-type questions with possible objective questions not exceeding 15% in weight.  Questions will total 105 points.  Closed-book exam.  However, you may have with you your outline together with your handwritten notes (back-to-back).  Reminder on academic honesty.  Good luck!

Assignment: Last Session (Dec. 10, 2008)

Study XVIII - XIX.

Assignment: Session 11 (Nov. 24, 2008)

Assignment is XVI.

Correction on Session 9 Assignment

Instead of taking-up XIV in Session 9, let's take-up first XV.  We will discuss the Session 9 assignment in the following order: XV first, then XII and XIII if time permits.  We will take-up XIV in Session 10 as soon as we're done with XV. 

Assignment: Session 9 (Nov. 10, 2008)

XII - XIV.

Read 'Em and Weep (or Rejoice): Suggested Answers to Midterm Exam

See attached.

Midterm Exam

Your midterm exam is scheduled on Nov. 3, 2008, 6:00 - 8:00 PM.  Please be at the examination room at 5:45 PM at the latest as we will start the exam at exactly 6:00 PM.

Coverage is from I to VIII.  Mainly essay-type questions with possible objective questions not exceeding 15% in weight.  Questions will total 105 points (with the five extra points being a bonus).

Closed-book exam.  However, you may have with you during the exam the first eight (8) pages of the outline only, together with your handwritten notes on it (back-to-back).  Anything beyond the first eight pages of the outline with handwritten notes is a prohibited material during the exam.

You know the drill on academic honesty.  Those caught violating this policy will be dealt with severely.

Slides to be emailed.  

Assignment: Session 7 (Oct. 27, 2008)

Assignment is IX to XI.

Illustration of "Substantial Change in Ownership" - NOLCO

See slides.

Assignment: Session 6 (Oct. 20, 2008)

Assignment is VIII - IX.

Assignment: Session 5 (Oct. 13, 2008)

The assignment is V to VII (recit to be called).  I will lecture on the remaining items of IV.

Assignment: Session 4 (Oct. 6, 2008)

Since IV(A) has been assigned already in Session 3 (although we were unable to take it up due to lack of time), the additional assignment for Session 4 is the rest of IV (which means that we will still take up IV(A) and continue until we finish the entire IV).

Assignment: Session 3 (Sept. 29, 2008)

The assignment is III(B) to IV(A).  We will take up O'Gilvie and the Murphy cases (original decision and decision on rehearing) under III(B)(2).

Session 2: Pahabol

Skip II(F) -- Damages for personal injuries

We will instead take-up this topic when we get to income exclusions in III(B)

Assignment: Session 2 (Sept. 22, 2008)

The assignment is II(B) to III(A) of the outline.  Prepare for recit.  Cases and issuances will be emailed to Doe.  There have been a number of issuances from the BIR this year and other tax developments.  Therefore, we will take up further revisions to the outline, if any, as we go along.  

Assignment: Session 1 (Sept. 15, 2008)

The assignment is I to II(A) of the outline.  Volunteers for the cases.

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 under the National Internal Revenue Code (NIRC).

Course Materials -

• Code: NIRC (Rep. Act. No. 8424 or the “Tax Reform Act of 1997”), as amended; Book II, 
• IRR: selected Rev. Regs. and other issuances;
• Textbook/s: none required; suggested reference textbooks: Mamalateo, V: Philippine Income Taxation (2004); De Leon, H.: The Law on Income Taxation (2001); De Leon, H.: National Internal Revenue Code (2003); Gonzales, E.: National Internal Revenue Code (2001).    
  

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 - recitation, midterms, finals - 35/30/35.

Policies on Recitation -

• If a student is not present when called upon to recite, he/she gets a grade of 70%
• If a student is present but is unprepared when called upon to recite, he/she gets a grade no lower than 80%

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 65% 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 65%.

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.