Wreignna Joie Irreverre

BSN II-B

December 7, 2015

Income Tax Return

a document you file with the Internal Revenue Service or the state tax board
reporting your income, profits and losses of your business and other deductions as well as
details about your tax refund or tax liability.

Gross Income
is the starting point for determining Federal and state income tax of individuals,
corporations, estates and trusts, whether resident or nonresident. "Except as otherwise
provided" by law, Gross income means "all income from whatever source," and is not limited
to cash received.

Basic Personal Exemption

provide that only a persons income above some defined basic level is subject to tax.
They thus help ensure that the poorest of the poor pay little if any income tax. The personal
exemption has been a basic feature of the modern individual income tax since it was
enacted.

Additional Exemption
RA 6657
The legal basis for CARP is the Republic Act No. 6657 otherwise known as
Comprehensive Agrarian Reform Law (CARL) signed by President Corazon C. Aquino on June
10, 1988. It is an act which aims to promote social justice and industrialization, providing the
mechanism for its implementation, and for other purposes.
CARP, or the Comprehensive Agrarian Reform Program, is the redistribution of public
and private agricultural lands to farmers and farmworkers who are landless, irrespective of
tenurial arrangement. CARPs vision is to have an equitable land ownership with empowered
agrarian reform beneficiaries who can effectively manage their economic and social
development to have a better quality of life.

Executive Order No. 364

Creating the national commission on savings:
WHEREAS, Philippines 2000, the Filipino people's vision of newly industrialized
country's status by the year 2000, recognizes that economic progress and development can
be hastened by increasing capital formation by saving with banks and other financial
intermediaries;
WHEREAS, in the drive towards Philippines 2000, all sectors of society should be
made aware of the vital role of savings in economic development;
WHEREAS, to generate financial resources, capital formation should be accelerated
by encouraging the public to save in banks and other financial intermediaries;
WHEREAS, it is vital to instill in the minds of the public the importance of saving for
sustained economic development, and as such, a continuing nationwide information,
educational and communication campaign shall be instituted that will involve all sectors of
society and all levels of government;

WHEREAS, Proclamation No. 380, dated 15 May 1994 was issued "Declaring the
Period from June 30 to July 6, 1994 and Every Year Thereafter as Savings Consciousness
Week."

Current status of Comprehensive Agrarian Reform Program

2010-2015 Sona promises: Kept /not yet kept (Part 3)
resident Benigno Aquino III has promised to complete the Comprehensive Agrarian Reform
Program (CARP), the centerpiece program of his mothers administration, before he steps
down in 2016. The President has been accused by militants of shielding his familys
Hacienda Luisita from the implementation of agrarian reform.
As a presidential candidate in May 2010 elections, Mr. Aquino vowed to redistribute
the family-owned hacienda in accordance with the law enacted in June 2009 extending CARP
for five more years.
Apart from Hacienda Luisita, he pledged to complete the distribution of privately owned
lands comprising some of the most productive agricultural estates that have so far escaped
coverage of the program promulgated by his mother, the late President Corazon Aquino.
Months after assuming office, Mr. Aquino said he had adopted a hands-off policy on the
Hacienda Luisita dispute, saying he had divested himself of his interests in the sugar
plantation.
In November 2011, the Supreme Court, voting 14-0, ordered the distribution of the hacienda.
In April 2012, the Supreme Court rejected with finality a bid by the family of President
Aquino to secure at least P5 billion in compensation for the hacienda, affirming the
November ruling basing the value of the sugar plantation in 1989 at around P196 million.
Here are President Aquinos promises concerning agrarian reform and Hacienda
Luisita.
Promise: Complete CARP by 2016: My mother initiated the Comprehensive Agrarian Reform
Program. It is only just that this program sees its conclusion during my term. (Sona 2012)
As of June 2014, 466,164 hectares had been distributed by the Department of
Agrarian Reform (DAR), while 351,886 ha had been distributed by the Department of
Environment and Natural Resources (DENR).
As of June 2014, the total CARP balance was 835,228 ha716,520 for the DAR and
118,768 for the DENR.
The DAR aims to distribute 198,631 ha this year, and the remaining 385,748 ha next year.
The DENR plans to complete the distribution of 118,768 ha this year.
Promise: Turn over Hacienda Luisita lots beginning September 2013 (Sona 2013)
In September 2013, the DAR announced that it would finally begin distributing land
titles to more than 6,000 farmworkers of Hacienda Luisita.

As of June 2014, 5,982 farmworkers (out of 6,212) had received their certificate of
land ownership awards.
But some farmworkers have been disqualified as land reform beneficiaries, among
them leaders of the group that filed the landmark case that led to the distribution of
Hacienda Luisita. The DAR said the 125 farmworkers were disqualified for their failure to sign
and swear to the required application to purchase and farmers undertaking (Apfu), a
document containing a list of the obligations of beneficiaries, including paying amortization,
under the law.
Some beneficiaries have also reportedly started selling their 6,600-square-meter lots
to an Isabela-based Chinese-Filipino businessman. Under the law, the sale of land covered by
CARP is prohibited for 10 years after the land has been distributed.
Last month, reports said the Presidents family had ceded the Luisita sugar mill Central
Azucarera de Tarlac to a new company owned mainly by the family of Cito Lorenzo, who
served as agriculture secretary in the Arroyo administration. The move has led to mass
layoffs and temporary closure of the mill.
Promise: Serve all notices of coverage (NOCs) for land covered by agrarian reform in
the next year. (Sona 2013)
As of June 2014, the DAR had issued NOCs for 27,756 landholdings (227,382 ha),
while 3,898 landholdings (35,021 ha), out of more than 60,000 landholdings subject to
compulsory acquisition, were not issued NOCs due to problems with land records, among
others things.
The President certified urgent the NOC Extension Bill, which proposes to extend the issuance
of NOCs, receipt of voluntary offers to sell and initiation of petitions for coverage beyond the
June 30, 2014, deadline of the extended CARP law.
But the bill that would extend CARP are still pending in Congress, where it is
reportedly being blocked by wealthy landed lawmakers. Last month, the Negros-based
farmers group Task Force Mapalad filed a complaint against Negros Occidental Rep. Alfredo
Albee Bantug Benitez, accusing him of using his influence over the Visayas bloc of
lawmakers to keep vast farmlands under his familys control outside the coverage of CARP.

References:
Carasso, A., & Steuerle, E. (2011, July 22). Taxation and the Family: What is the
personal exemption? Retrieved December 1, 2015, from Tax Policy Center:
http://www.taxpolicycenter.org/briefing-book/keyelements/family/exemptions.cfm
EXECUTIVE ORDER NO. 364 August 23, 1996. (n.d.). Retrieved December 1, 2015,
from The LawPhil Project:
http://www.lawphil.net/executive/execord/eo1996/eo_364_1996.html

Gross income. (n.d.). Retrieved December 1, 2015, from Wikipedia:

https://en.wikipedia.org/wiki/Gross_income
Income Tax Return. (n.d.). Retrieved December 1, 2015, from Your Dictionary:
http://www.yourdictionary.com/income-tax-return#Pw6XYzCyxBG1LrLS.99
Pedroso, K. (2015, July 25). 2010-2015 Sona promises: Kept /not yet kept (Part 3).
Retrieved December 1, 2015, from Inquirer.Net:
http://newsinfo.inquirer.net/707555/2010-2015-sona-promises-kept-not-yetkept-part-iii
What is CARP (Comprehensive Agrarian Reform Program), or RA 6657? (n.d.).
Retrieved December 1, 2015, from Department Of Agrarian Reform:
http://www.dar.gov.ph/ra-6657-what-is-carp-comprehensive-agrarian-reformprogram