Page 8 - Taxation (TAX 112 A & B, BA-203)
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Business, Transfer and Income Taxation
TAX 112 A & B, BA 203
Source: E.Valencia & G. Roxas, Income Taxation (2010)
Classification of Taxes:
1. As to Subject Matter or Object:
a. Personal, poll or per capita tax
b. Property tax
c. Excise/ Privilege tax
2. As to “who bears the burden”
a. Direct tax
b. Indirect / Transfer tax
3. As to “determination of Amount”
a. Specific/ Fixed (per standard measure, weight, etc.)
b. Ad valorem (per assessed value)
4. As to purpose
a. General or Fiscal purposes (to raise government revenue)
b. Special or Regulatory (e.g. Sin tax on cigarettes)
