11 SENIOR HIGH SCHOOL

FABM 2
Quarter 4 - Module 4
Principles and Processes of Income
and Business Taxation

NegOr_Q4_FABM211_Module4_v2
NegOr_Q4_FABM211_Module4_v2
FABM 2 – Grade 11
Alternative Delivery Mode
Quarter 4 – Module 4: Principles and Processes of Income and Business Taxation
Second Edition, 2021

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of the Government of the Philippines. However, prior approval of the government agency or
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ownership over them.

Published by the Department of Education

Secretary: Leonor Magtolis Briones
Undersecretary: Diosdado M. San Antonio

Development Team of the Module

Writer: Maria Soledad M. Dayupay
Editor: Cathyrine T. Rosales
Reviewer: Maria Acenith D. Pastor
Layout Artist: Helner D. Taghap
Management Team: Senen Priscillo P. Paulin, CESO V Elisa L. Baguio, EdD
Joeliza S. Miguel-Arcilla EdD, CESE Rosela R. Abiera
Marcelo K. Palispis, JD, EdD Maricel S. Rasid
Nelita S. Ragay, EdD Elmar L. Cabrera

Printed in the Philippines by ________________________

Department of Education –Region VII Schools Division of Negros Oriental

Office Address: Kagawasan, Ave., Daro, Dumaguete City, Negros Oriental

Tele #: (035) 225 2376 / 541 1117
E-mail Address: negros.oriental@deped.gov.ph

NegOr_Q4_FABM211_Module4_v2
Introductory Message

This Self-Learning Module (SLM) is prepared so that you, our dear learners, can
continue your studies and learn while at home. Activities, questions, directions,
exercises, and discussions are carefully stated for you to understand each lesson.

Each SLM is composed of different parts. Each part shall guide you step-by-step
as you discover and understand the lesson prepared for you.

Pre-tests are provided to measure your prior knowledge on lessons in each SLM.
This will tell you if you need to proceed on completing this module or if you need to ask
your facilitator or your teacher’s assistance for better understanding of the lesson. At the
end of each module, you need to answer the post-test to self-check your learning. Answer
keys are provided for each activity and test. We trust that you will be honest in using
these.

In addition to the material in the main text, Notes to the Teacher are also provided
to our facilitators and parents for strategies and reminders on how they can best help
you on your home-based learning.

Please use this module with care. Do not put unnecessary marks on any part of
this SLM. Use a separate sheet of paper in answering the exercises and tests. And read
the instructions carefully before performing each task.

If you have any questions in using this SLM or any difficulty in answering the
tasks in this module, do not hesitate to consult your teacher or facilitator.

Thank you.

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 I
This module was designed to provide you with fun and meaningful
opportunities for guided and independent learning at our own pace and time. You will be
enabled to process the contents of the learning resource while being an active learner.

The module is intended for you to define income and business taxation and its
principles and processes.

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 I

Pre-assessment:
WORD HUNT. Directions: Locate the words in the grid, running in horizontal, vertical or
diagonal direction related to taxation. Write your answers on your
notebook.
M I N I M U M W A G E E A R N E R A B C
N O P A B D P A S S I V E G R B U B T Y
I N S T Y H R J K A E R V F O U P U L M
K M C A Z X 0 R V C O N K M B R U S I Y
L D A O G E F S O I C Y E A N E T I D G
T S O P E Q I T G Q U S D G R A R N K O
R A T A X A T I O N B H A D O U A E H L
A R D L E A S E N I T H D P K O U S I K
I N C O M E O N D C H O N A J F M S L Y
N T G K P U L L E Y M I L E L I A T X T
L B O J T G D O D K K N O A H N S A B E
A G M L I R P I U R O D D R E T A X S R
W H L I O A A L C I N E Y L Q E G 0 D N
E K I E N Y C A T H Y R I N D R R T Y O
B J E A M A R A I V A U L B E N E F I T
T P G S P E R G O N Y S F T F A N O R J
U O E D Y O A Q N A O M Y E S L B G T H
Y L J I P I G A S Y W S T R Y R E D Y I
S P E R S O N A L I N C O M E E T E W W
F G O L M A R I E S O L M D Z V Y H E S
V C O M P E N S A T I O N Y X E M U D T
I S K O G T O R W G O R W T V N K Y A H
N Z Y D S A L A R Y P K T Y K U L O G G
C V V T A X A B L E I N C O M E M Q H R

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 ’s In

Task 1
Direction: This is a sample of the BIR form 1700. Please fill up this form with your personal
data.

Note. Teacher will reproduce this form for the students in accomplishing the task.
3 NegOr_Q4_FABM211_Module4_v2
Note. Teacher will reproduce this form for the students in accomplishing the task.

4 NegOr_Q4_FABM211_Module4_v2
 ’s New

Task 2

TRUE OR FALSE. Write True if the statement is correct and False if it is incorrect. Write
your answers on your notebook.

1. Taxes are raised to cover the cost of governance.

2. License Fee is imposed to raise revenue.
3. Tax is generally unlimited because it is based on the needs of the state.
4. A person may refuse to pay taxes on the ground that he will not receive any benefit
from the tax.
5. Businesses are required to pay taxes.
6. Taxation is the process by which the government collects revenue in order to pay for
its expenses.
7. Everyone who has an income is required to pay taxes.
8. Taxes are revenue of the government that funds government expenditures and
programs.
9. All earnings citizens of the Philippines, whether from compensation or business, are
required to pay taxes.
10. Philippine individual income tax is progressive

is It

Taxation is a system of raising money to finance government expenditures. All

governments require payments of money-taxes-from its people. Government use tax revenues
to pay the salaries of the soldiers, police, and teachers, build dams and roads, to operate
schools and hospitals, to provide food for the poor and medical care to the elderly, and for
hundreds of other purposes. Without taxes to fund for its activities, government could not
exist.

Essential Characteristics of Tax

1. It is an enforced contribution
2. It is generally payable in money
3. It is proportionate in character
4. It is levied on persons or property.
5. It is levied by the state which has jurisdiction over the person or property
6. It is levied by the law-making body of the state

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 “Lifeblood Theory” like blood which acts as a support to every human organ so it
could perform every duty inside the body, tax acts as the blood which supports government
and state. The government cannot continue to perform its basic functions of serving and
protecting its people without means to pay for its expenses. Consequently, the state has the
right to compel all its citizens and property within its limits to contribute.

BASIS OF TAXATION. “BENEFITS-RECEIVED PRINCIPLE” reciprocal duties

of protection and support between the state and its inhabitants. The state collects taxes from
the subjects of taxation in order that it may be able to perform the functions of government.
The citizens, on the other hand pay taxes in order that they may be secured in the enjoyment
of the benefits of organized society.

The 3 Inherent powers of the State

1. The Police Power. It is the power of the state for promoting public welfare by
restraining and regulating the use of liberty and property. It may be exercised
only by the government. The property taken in the exercise of the power is
destroyed because it is noxious or intended for a noxious purpose.
2. Power of Taxation. It is the power by which the State raises revenue to defray the
necessary expenses of the government.
3. Power of Eminent Domain. It is the power of the State to acquire private property
for public purpose upon payment of just compensation.
Income Tax is a tax on a person's income, emoluments, profits arising from property, practice
of profession, conduct of trade or business or on the pertinent items of gross income specified
in the Tax Code of 1997 (Tax Code), as amended, less the deductions if any, authorized for
such types of income, by the Tax Code, as amended, or other special laws.

Who are required to pay income tax in the Philippines?

Individuals

• Resident citizens receiving income from sources within or outside the Philippines
o Employees deriving purely compensation income from two or more
employers, concurrently or successively at any time during the taxable year.
o Employees deriving purely compensation income regardless of the amount,
whether from a single or several employers during the calendar year, the
income tax of which has not been withheld correctly (i.e. tax due is not equal
to the tax withheld) resulting to collectible or refundable return.
o Self-employed individuals receiving income from the conduct of trade or
business and/or practice of profession.
o Individuals deriving mixed income, i.e., compensation income and income
from the conduct of trade or business and/or practice of profession.

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 o Individuals deriving other non-business, non-professional related income in
addition to compensation income not otherwise subject to a final tax.
o Individuals receiving purely compensation income from a single employer,
although the income of which has been correctly withheld, but whose spouse
is not entitled to substituted filing.
• Non-resident citizens receiving income from sources within the Philippines.
• Aliens, whether resident or not, receiving income from sources within the Philippines.

Non-Individuals

• Corporations including partnerships, no matter how created or organized.

• Domestic corporations receiving income from sources within and outside the
Philippines.
• Foreign corporations receiving income from sources within the Philippines.
• Estates and trusts engaged in trade or business.

List of sources of gross income: (NIRC 1997 Chapter 6 Section 32 A)

• Compensation for services in whatever form paid, including, but not limited to fees,
salaries, wages, commissions, and similar items;
• Gross income derived from the conduct of trade or business or the exercise of a
profession;
• Gains derived from dealings in property; (Note: subject to 6% capital gains tax for
individuals and for corporation if land and building is not used in business)
• Interests; (Note: generally subject to 20% final withholding tax)
• Rents;
• Royalties; (Note: generally subject to 20% final withholding tax,10% if from books and
literary works)
• Dividends; (Note: generally subject to 10% final withholding tax for individuals, tax
exempt for corporation)
• Annuities;
• Prizes and winnings; (Note: generally subject to 20% final withholding tax, except
those that are tax exempt based on specific criteria in the law)
• Pensions; and
• Partner's distributive share from the net income of the general professional partnership.

The list of gross income enumerates the sources of income for both individuals and
businesses. Except for compensation and income derived from trade or business, other
income sources are generally subject to final withholding tax on passive income. These
income sources are subjected to regular income tax rate only if the source did not meet the
exact specifications of income subject to final tax as expressed in the law.

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Compensation Income

• Employed individuals that earn compensation income pay their income taxes
monthly. Employers withhold the income tax of their employees from their monthly
gross income and remit these sums to the BIR.
• Philippine individual income tax is progressive. The tax rate increases as the tax base
increases which means that tax payers with more capacity to pay will pay more taxes.
• Income tax is computed at the end of the year based on all compensation income
derived during the year.

Tax Reform for Acceleration and Inclusion (TRAIN) – Revenue Regulations No. 8-2018 on
Income Tax.

The Law took effect on January 1, 2018. The TRAIN aims to make the
Philippine Tax System simpler, fairer, and more efficient to promote investments, create jobs
and reduce poverty. The Tax Reform for Acceleration and Inclusion (TRAIN) or the
Republic Act No. 10963 was signed into law by President Rodrigo Duterte on December 19,
2017 and implemented on January 1, 2018. It was the initial package of the Comprehensive
Tax Reform Program, which aims to rationalize the Philippine tax system.

Individuals Earning Purely Compensation Income.

1. Minimum wage earners (MWE) shall be exempt from income tax:

statutory minimum wage
holiday pay
overtime pays
night shift differential pays and
hazard pays

Minimum wage earners shall be exempt from the payment of income tax on their
statutory minimum wage rates. The holiday pay, overtime pay, night shift differential
pay and hazard pay received by such earner are likewise exempt.

2. Husband & wife shall compute their individual income tax separately based on their
respective taxable income; if any income cannot be definitely attributed to or
identified as income exclusively earned or realized by either of the spouses, the same
shall be divided equally between the spouses for the purpose of determining their
respective taxable income.
Income tax is computed at the end of the year based on all compensation income
derived during the year.

Individuals Earning Purely Compensation Income – Individuals earning purely

compensation income shall be taxed based on the graduated income tax rates
prescribed.

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 • Taxable income for compensation earners is the gross compensation income
less non-taxable income/benefits such as but not limited to the 13th month pay
and other benefits (subject to limitations), de minimis benefits, and
employee’s share in the SSS, GSIS, PHIC, Pag-ibig contributions and union
dues.

- Taxable income is computed after deducting personal and additional

exemptions.

- Applicable tax rate is applied on the taxable income to get the tax due.

- The total income tax withheld by the employer is deducted from the tax due to
get remaining tax liability by the employee.

• Taxpayers who derive their income solely from compensation are required to
file BIR Form 1700 as their income tax returns. However, to give relief to
these taxpayers, the employee may present BIR Form 2316 as their income tax
return. BIR Form 2316 is a statement issued by the employer and signed by
the employee but not filed with the BIR. This is referred to as substituted
filing.

For purely self-employed and/or professionals whose gross sales/receipt and other non-
operating income do not exceed the VAT threshold of ₱3Million, the tax shall be, at the
taxpayer’s option, either:

1. Income tax based on the graduated income tax rates for individuals; OR
2. 8% income tax on gross sales/receipts and other non-operating income in excess of
₱250,000 in lieu of the graduated income tax rates and the percentage tax under Sec.
116
➢ Taxpayer shall be considered as having availed of the graduated income tax rates
• unless the taxpayer signifies the intention to elect the 8% income tax rate in the 1st
Quarter Percentage and/or Income Tax Return or on the initial quarter return of the
taxable year after the commencement of a new business/practice of profession;
• such election shall be irrevocable and no amendment of option shall be made for the
said taxable year.
➢ Under Section 24(A)(2)(b) on option of 8% income tax rate on gross sales/receipts
and other non-operating income in excess of ₱250,000.00 –
• only to purely self-employed individuals and/or professionals.
• not applicable to mixed income earners.

Income tax of mixed income earners

For mixed income earners (earning both compensation income and income from
business and/or practice of profession), their income taxes shall be:
1. For income from compensation: based on graduated income tax rates for individuals,
AND
2. For income from business and/or practice of profession:

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 a. Gross sales/receipts and other non-operating income which do not exceed the
VAT threshold of ₱3Million – income tax based on graduated income tax rates
on taxable income OR 8% income tax on gross sales/receipts and other non-
operating income, at the taxpayer’s OPTION.
b. Gross sales/receipts and other non-operating income which exceeds the VAT
threshold of ₱3Million – income tax based on graduated tax rates for
individuals.
c. in case of option to be taxed under the graduated income tax rates for income
from business/practice of profession, taxpayer shall combine the taxable
income from both compensation and Business/practice of profession in
computing for the total taxable income and consequently, the income tax due.

Business Income

• The tax payments of a business organized as a sole proprietorship are made in the
name of its owner. The owner is considered an individual taxpayer who derived
income from business. He is required to file BIR Form 1701.
• Businesses may settle their income tax liabilities and submit their income tax returns
(tax form) to the government three months and fifteen days from the close of the year.
For a business that follows a calendar year, the date of settlement is April 15.
• The tax payments of a business organized as a sole proprietorship are made in the
name of its owner. The owner is considered an individual taxpayer who derived
income from business. He is required to file BIR Form 1701.

A taxpayer who initially presumed that the gross sales/receipts for the taxable year and
other non-operating income will not exceed the ₱3,000,000.00 VAT threshold but has
actually exceeded the same during the taxable year, shall
• immediately update registration to reflect the change in tax profile from non-VAT to a
VAT taxpayer;
• update registration immediately within the month following the month the
sales/receipts exceeded the VAT threshold;
• be liable to VAT prospectively starting on the first day of the month following the
month when the threshold is breached;

A VAT taxpayer who did not exceed the VAT threshold within the immediately
preceding three (3) year period, may opt to be a non-VAT taxpayer and avail of the 8%
income tax rate option:
• update the registration records on or before the first quarter of a taxable year to reflect
the change in registration
• remain liable for VAT for as long as there is no update of registration and VAT-
registered invoices/receipts are continuously issued

Registration updates shall be subject to existing rules and regulations on updates,

verification, inventory and surrender/cancellation of unused VAT-invoices/receipts.

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Income tax rates on individual citizen and individual resident alien of the Philippines Revised
personal income tax brackets of 2018-2022:

Table 1

Tax Schedule effective January 1, 2018 to December 31, 2022

Over ₱250,000 but not over ₱400000 20% of the excess over ₱250,000
Over ₱400,000 but not over ₱800,000 ₱30,000 + 25% of the excess over ₱400,000
₱130,000 + 30% of the excess over
Over ₱800,000 but not over ₱2million
₱800,000
₱490,000 + 32% of the excess over
Over ₱2Million but not over ₱8Million
₱2Million
₱2,410,000 + 35% of the excess over
Over ₱8Million ₱8Million

Table 2

REVISED WITHHOLDING TAX TABLE

Effective January 1, 2018 to December 31, 2022
DAILY 1 2 3 4 5 6
Compensation ₱685 ₱685 – ₱1,096 – ₱2,192 – ₱5,479 – ₱21,918 and
Range and ₱1,095 ₱2,191 ₱5,478 ₱21,917 above
below
Prescribed 0.00 0.00 ₱ 82.19 ₱ 356.16 ₱ 1,342.47 ₱ 6,602.74
Withholding + 20% + 25% + 30% + 32% + 35% over
Tax over ₱ over ₱ over over ₱21,918
685 1,096 ₱2,192 ₱5,479
WEEKLY 1 2 3 4 5 6
Compensation ₱ 4,808 ₱ 4,808 ₱ 7,692 – ₱ 15,385 – ₱ 38,462 – ₱ 153,846
Range and –₱ ₱15,384 ₱ 38,461 ₱153,845 and above
below 7,691
Prescribed 0.00 0.00 ₱ 576.92 ₱ 2,500.00 ₱ 9,423.08 ₱46,346.15
Withholding + 20% + 25% + 30% + 32% + 35% over
Tax over over ₱ over ₱ over ₱153,846
₱ 4,808 7,692 15,385 ₱38,462
SEMI- 1 2 3 4 5 6
MONTHLY
Compensation ₱10,417 ₱10,417 ₱16,667 – ₱33,333 – ₱83,333 – ₱333,333
Range and – ₱33,332 ₱83,332 ₱333,332 and above
below ₱16,666
Prescribed 0.00 0.00 ₱1,250.00 ₱5,416.67 ₱20,416.67 ₱100,416.67

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 Withholding + 20% + 25% + 30% + 32% + 35% over
Tax over over over over ₱333,333
₱10,417 ₱16,667 ₱33,333 ₱83,333
MONTHLY 1 2 3 4 5 6
Compensation ₱20,833 ₱20,833 ₱33,333 – ₱66,667 – ₱166,667 – ₱666,667
Range and – ₱66,666 ₱166,666 ₱666,666 and above
below ₱33,332
Prescribed 0.0 ₱2,500.00 ₱10,833.33 ₱40,833.33 ₱200,833.33
Withholding 0.00
Tax
+ 20% + 25% + 30% + 32% +35% over
over over over over ₱666,667
₱20,833 ₱33,333 ₱66,667 ₱166,667

filing.
’s More

Task 3
Identify the tax exemptions of Ms Alona. Write your answers on your notebook.

Ms. Alona is employed in LMN Corporation. She received the SMW for 2018 in the
total amount of ₱175,000, inclusive of the 13th month pay. In the same year, she also
received overtime pay of ₱40,000 and night-shift differential of ₱25,000. She also received
commission income from the same employer of ₱20,000, thus, total income received
amounted to ₱260,000.

I Have Learned

1. As an ABM student, I have learned…_______________________.

2. As an ABM student, it is very important for us to learn…_______________________.
3. Using the knowledge I have learned in this lesson; I will be able
to...______________________.

12 NegOr_Q4_FABM211_Module4_v2
 I Can Do

Task 4

Give what is asked and write your answers on your activity notebook.
Who among the following individuals is/are taxable based on income derived from within or
outside the Philippines and why? Explain.
A. Rosa, a native of Bacolod City, working as overseas contract worker in Iraq.
B. Wang U, Korean singer, held a 3-day concert in Manila.
C. Esperanza, Spanish citizen, a resident of Madrid, Spain, spent a one (one) week vacation
in Boracay.
D. George naturalized Filipino citizen and married to a Filipina. He had been living in
Pampanga since 1990.

RUBRICS

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I. Directions: Identify what is asked in each item. Write the letter of the correct answer in
your notebook.
1. Taxation co-exist with the four elements of the state which includes all, EXCEPT:
A. Government
B. Property
C. Sovereignty
D. Territory

2. Which of the following is/are natural qualities of Taxation Power?

I. An inherent power
II. Essentially an executive function
III. An absolute Power
IV. Territorial in operation
A. I and IV only
B. II and III only
C. I and II only
D. I only

3. Which of the following statements is not correct?

A. Collections from taxes are public money
B. Appropriation of taxes for the common good of the people is valid
C. Construction of private road from the taxes is a valid appropriation
D. Allocation of taxes for the benefit of greater portion of population is
considered for public purposes

4. All of the following statements are correct except one:

A. Taxation power is an absolute power
B. Taxation power is the strongest of all inherent portion of the government
C. Tax laws must not violate Constitutional restrictions.
D. Exercise of Taxation power is subject to restrictions

5. One of the following is not among the basic justification for taxation
A. Taxation is based on necessity
B. Taxation is the lifeblood of the government
C. Taxation is the bread and butter of the government
D. Taxation is a voluntary contribution for the benefits received.

6. It is important to know the source for income tax purposes (i.e., from within and or
outside the Philippines) because:
A. some individuals and corporate taxpayers are taxable based on their
14 NegOr_Q4_FABM211_Module4_v2
 worldwide income while others are taxable only on their income from sources within
the Philippines.
B. The Philippines imposes income taxes only on income from sources within.
C. Some individual taxpayers are citizens while others are aliens.
D. Export sales are not subject to income tax.

7. Which of the following statement is not true to individual to pay tax?

A. A citizen of the Philippines residing therein is taxable on all income
derived from sources within or outside the Philippines.
B. A non-resident citizen is taxable on income derived from sources within the
Philippines only.
C. An alien individual, whether a resident or not of the Philippines, is taxable
income derived from sources outside the Philippines.
D. A seaman who is a citizen of the Philippines and who receives compensation
for services rendered abroad as a member of the complement of a vessel
engage in international trade shall be treated as an overseas contract worker.

8. Taxable only on income from sources within the Philippines, except

A. Non-resident citizen
B. Resident citizen
C. Resident alien
D. Non-resident alien

9. The power to demand proportionate contribution from persons and property to defray
the necessary expenses of the government
A. Power of taxation
B. Police Power
C. Power of eminent domain
D. Power of recall

10. The following statements correctly described the power of the State to tax, EXCEPT:
A. It is a power inherent in every sovereign state to imposed a charge or burden
upon persons, properties, or rights to raise revenues for the use and support of
the government and to enable it to discharge its functions.
B. The state can exercise the power of taxation only if it is expressly mentioned
in the Constitution.
C. It passes a legislative undertaking through the enactment of laws by the
Congress which will be implemented by the Executive Branch of the
government through its Bureau of Internal Revenue to raise revenue for the
inhabitants in order to pay the necessary expenses of the government.
D. It is a way of collecting and apportioning the cost of government among
those who are privileged to enjoy its benefits.

15 NegOr_Q4_FABM211_Module4_v2
NegOr_Q4_FABM211_Module4_v2 16
WHAT I KNOW WHAT’S NEW
1. PROFITS 1. TRUE
2. TAXATION 2. TRUE
3. DEDUCTIONS 3. TRUE
4. CORPORATION 4. FALSE
5. NET 5. TRUE
6. BUREAU OF INTERNAL REVENUE 6. TRUE
7. INCOME 7. FALSE
8. COMPENSATION 8. TRUE
9. SALARY 9. TRUE
10. PASSIVE 10. TRUE
11. TRAIN LAW
12. TAX
13. PERSONAL INCOME
14. TAXABLE INCOME
15. MINIMUM WAGE EARNER
WHAT’S MORE
TASK 1
1. OVERTIME PAY
2. NIGHT SHIFT DIFFERENTIAL
3. 13TH MONTH PAY
ASSESSMENT
1. B 6. A
2. B 7. C
3. A 8. B
4. B 9. A
5. D 10. B
GLOSSARY
Compensation - is the total cash and non-cash payments that you give to an employee in
exchange for the work they do for your business

Emoluments - the returns arising from office or employment usually in the form of
compensation or perquisites

Expenditures - the action of spending funds

Governance - Governance has been defined as the rules of the political system to solve
conflicts between actors and adopt decision (legality). It has also been used to describe the
"proper functioning of institutions and their acceptance by the public" (legitimacy)

Proportionate - correct in size in relation to something; keeping same relationship of size to

something.

Reciprocal - inversely related: OPPOSITE

Revenues - the total income produced by a given source.

Taxation - is a system of raising money to finance government expenditures

17 NegOr_Q4_FABM211_Module4_v2
References

https://www.bir.gov.ph/index.php/bir-forms/income-tax-return.html#itr1700
https://www.slideshare.net/christiandelacruzgravador/introduction-to-taxation
Department of Education. Fundamentals of Accounting, Business and Management-Grade
11: Teacher’ Guide 1st ed. 2016, 19-45.
https://www.bir.gov.ph/index.php/train.html
https://www.merriam-webster.com/dictionary/revenue
https://www.merriam-webster.com/dictionary/reciprocal
BIR Forms No. 1700 retrieved from https//www.bir.gov.ph/
https://www.studocu.com/ph/document/gordon-college-philippines/income-taxation/income-
taxation-tax101-module-1/11963532/ ((Philippines) n.d.)

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