COLLEGE: RVRCOB DEPARTMENT: ACCOUNTANCY

COURSE CODE: ACTTAX1 COURSE TYPE: HYBRID

SECTION: K33 & K34
CLASS DAYS AND CLASS TIME: TF (12:45-2:15PM) AND (2:30-4:00PM)
INSTRUCTOR NAME: ATTY. GREGORIO L. DE LIMA III
CONTACT INFORMATION: [email protected]

ROOM: M314
CONSULTATION SCHEDULE: WITHIN THE WORKING DAY THROUGH E-MAIL

COURSE DESCRIPTION:

This course (ACTTAX1 or Taxation 1) involves an intensive study of the Philippine tax system covering introduction to
taxation and first part of income taxation. It deals with the basic principles of taxation, tax administration, and conceptual
and practical application of income taxation of individuals including withholding taxes, as they relate to the accountancy
profession. The emphasis is on the application of the theories and principles in solving tax problems and the use of these to
enhance human development and social transformation.

LEARNING OUTCOMES (LO):

UNIVERSITY LEARNING OUTCOMES

EXPECTED LASALLIAN
GRADUATE ATTRIBUTES On completion of the course, the student is expected to be able to do the
(ELGA) following:
LO1: Calculate income and business tax liabilities of various types of
taxpayers, and prepare the related tax returns in accordance with the
National Internal Revenue Code (NIRC or Tax Code) and its
implementing regulations; and special laws and related rules and
• Critical and creative thinker
regulations.
• Effective communicator
• Reflective lifelong learner LO2: Prepare a business report covering advice on a practical tax issue
encountered by taxpayers, applying the tax concepts and principles
under the Tax Code and its implementing regulations; and special laws
and related rules and regulations.

COURSE OUTCOMES ASSESSMENT MATRIX:

Course Program Outcomesi

Learning GO1 GO2 GO3 GO4 GO5 GO6 GO7 GO8 GO9 GO10 GO11 GO12 GO13
LO1 P P O O O O O P P P O O O
LO2 P P L O O O O P P P O O O

O = Not learned in course but opportunity to be learned in the future

L = Learned in the course
P = Practiced in course

FINAL COURSE OUTPUT:

As evidence of attaining the above learning outcomes, the student is required to do and submit the following during the
indicated dates of the term.

i To know more about the GOs, please refer to this link:

https://drive.google.com/file/d/1tgG89zx0wRVsQMEs0YPLhD1xT2wJYCWM/view
Page 1 of 12
 LEARNING OUTCOMES REQUIRED OUTPUTS DUE DATE
LO1: Calculate income tax liabilities of
various types of taxpayers and prepare the
related tax returns in accordance with the Weeks 1, 2, 3, 4, 5, 6,
Complete proposed solutions to exercises and
National Internal Revenue Code (NIRC 7, 8, 10, 11, 12 and 13
problems.
or Tax Code) and its implementing
regulations; and special laws and related
rules and regulations.
LO1: Calculate income and business tax
liabilities of various types of taxpayers,
and prepare the related tax returns in Weeks 1, 2, 3, 4, 5, 6,
Complete proposed solutions to exercises and
accordance with the National Internal 7, 8, 10, 11, 12 and 13
problems.
Revenue Code (NIRC or Tax Code) and
its implementing regulations; and special
laws and related rules and regulations.
LO1: Calculate income tax liabilities of
various types of taxpayers, and prepare
the related tax returns in accordance with At least three (3) oral reports discussing the Weeks 1, 2, 3, 4, 5, 6,
the National Internal Revenue Code solutions to the problems and cases during the 7, 8, 10, 11, 12 and 13
(NIRC or Tax Code) and its term.
implementing regulations; and special
laws and related rules and regulations.
LO1: Calculate income tax liabilities of
various types of taxpayers, and prepare
the related tax returns in accordance with At least three (3) duly accomplished tax returns
the National Internal Revenue Code (one for individuals, one for withholding tax on Weeks 10 and 12
(NIRC or Tax Code) and its wages and one for final withholding tax).
implementing regulations; and special
laws and related rules and regulations.
LO2: Prepare a business report covering
advice on a practical tax issue
encountered by taxpayers, applying the One (1) oral business report and one (1) written
Weeks 2, 3, 6, 10 and
tax concepts and principles under the Tax business report on a tax issue or problem provided
13
Code and its implementing regulations; by the faculty.
and special laws and related rules and
regulations

ANIMOSPACE (Canvas):

It is the learning management system (LMS) to be used in the conduct of the online classes. To Learn more about it, please
click the following links:

• Passport to Canvas (public Canvas course) https://www.canvas.net/browse/cn-pd/courses/passport-to-canvas (Links

to an external site.)
• Animo Space 101: https://dlsu.instructure.com/courses/13772

RUBRIC FOR ASSESSMENT:

Below are the rubrics that students will use to self-check their required output prior to submission. The same rubrics will also
be used to grade the student’s work.

Answered exercises and problems –

EXEMPLARY SATISFACTORY DEVELOPING BEGINNING

CRITERIA RATING
(100) (90) (80) (70)
The student
answers some of
The student The student the exercises
The student fails to
Completeness answers all answers majority completely; or
answer any
(100%) exercises of the exercises answers all
assigned exercises.
completely. completely. exercises
completely but
belatedly.

Preparation of tax returns –

Page 2 of 12
 EXEMPLARY SATISFACTORY DEVELOPING BEGINNING
CRITERIA RATING
(100) (90) (80) (70)
Correctness & The student The student
The student The student fails to
completeness of prepares prepares partly
prepares correct prepare correct tax
filling-up substantially correct correct tax
tax returns. returns.
(50%) tax returns. returns.
The student
The student The student The student
Correctness of tax calculated the tax
calculated the tax calculated the tax calculated the tax
calculation liabilities
liabilities liabilities mostly liabilities partly
(50%) substantially
correctly. correct. correct.
incorrect.

Written Business Report –

EXEMPLARY SATISFACTORY DEVELOPING BEGINNING

CRITERIA RATING
100 90 80 70
Content
The group applies The group applies The group applies The group fails to
(Application of
all relevant income some income tax few income tax apply income tax
theories learned to
tax topics topics topics topics
the business case)
appropriately. appropriately. appropriately. appropriately.
(80%)
The group follows The group follows
The group does not
The group follows the format and uses the format but uses
Format and follow the format
the format and uses English language the English
English language and uses the
excellent English in the paper which language
(10%) English language
language. is at an acceptable somewhat
inappropriately.
level. inappropriately.
The group shows
The group shows The group shows
The group shows somewhat lack of
strong teamwork as lack of teamwork
teamwork as teamwork as
evidenced by as evidenced by
Teamwork evidenced by evidenced by some
consistency both in inconsistencies
(10%) consistency in inconsistencies
the flow and both in the flow
terms of content of both in the flow
contents of the and contents of the
the paper. and contents of the
paper. paper.
paper.

Oral Business Report –

Page 3 of 12
 EXEMPLARY SATISFACTORY DEVELOPING BEGINNING
CRITERIA RATING
100 90 80 70
The student- The student-
The student- The student-
presenter presenter
presenter presenter
communicates and communicates and
communicates and communicates and
explains clearly the explains somewhat
explains clearly the explains vaguely
tax issues and clearly the tax
Delivery (40%) tax issues and the tax issues and
resolutions, and issues and
resolutions, and resolutions, and
generates interest resolutions, and
generates some does not generate
and establishes generates little
interest among the interest among the
rapport among the interest among the
audience. audience.
audience. audience.
The student-
The student-
presenter presents
presenter presents The student-
satisfactory The student-
excellent analysis presenter does not
Presentation analysis of the tax presenter presents
of the tax issues present fair
content/solution issues and fair analysis of the
and resolutions, analysis of the tax
(30%) resolutions and tax issues and
and relating these issues and
somewhat relating resolutions.
to the business resolutions.
these to the
world.
business world.
The student-
The student- The student-
presenter provides
presenter provides presenter provides
incorrect or non-
correct or valid correct or valid The student-
sensible answers to
answers to the answers, explains presenter provides
the questions
questions, explains these somewhat partly or entirely
raised but
Question and these clearly, and clearly, and correct or
somehow provides
answer (30%) presents presents some valid/sensible
partly or entirely
valid/sensible valid/sensible answers, explains
correct or
arguments to arguments to these somewhat
valid/sensible
support/justify the support/justify the clearly.
answers through
answers to the answers to the
follow-up
questions raised. questions raised.
questions.

Recitations –

EXEMPLARY SATISFACTORY DEVELOPING BEGINNING

CRITERIA RATING
97-100 80-96 70-79 Below 70
The student
The student The student
The student correctly applied
correctly applied incorrectly applied
correctly applied the tax concepts
the tax concepts the tax concepts
Substance the tax concepts and principles to
and principles to and principles to
– Completeness and principles to majority of the
some of the issues the issues presented
and Correctness of the issues presented issues presented
presented and/or and/or was not able
Application (75%) and/or completely and/or correctly
explained answers to explain answers
explained answers explained answers
to some of the to any questions.
to all questions. to majority of the
questions.
questions.
The student
communicates
clearly and The student
coherently the The student communicates the The student
Form – Oral
answers to all communicates the answers to some of communicates
Communication
questions using the answers to all the questions and vaguely and fails to
Skills, Grammar,
English language, questions using the uses a mixture of answer the
Delivery (25%)
without English language. English and questions.
grammatical errors, Filipino language.
and within the
allotted time.

OTHER REQUIREMENTS AND ASSESSMENTS:

Aside from the final output, the student will be assessed at other times during the term by the following:

Departmental long examinations –

There will be three (3) departmental long examinations for three (3) hours. This will consist of theories and problems.
Problems may be short or long problems which should be supported by solutions to be written on the answer sheets in good
accounting format.
Page 4 of 12
Departmental final examination –

This will be for three (3) hours which will cover all the topics of the course. This will consist of theories and problems.
Solutions to the problems are required to be written on the answer sheets in good accounting format.

Business report (Oral and written) –

The purpose of this business report is to apply the tax concepts and techniques in an analysis of a real-world tax issue or
problem.

This will be a group written and oral report. Each group will comprise of two (2) to three members. The faculty will choose
the topic to be orally reported by a group. When a group is assigned to orally report on a particular topic, the said group is no
longer required to submit a written report on such topic. The faculty will choose another group or set of groups who will
submit a written report on the said topic to allow a meaningful discussion on the day of oral reporting. The topic to be assigned
shall cover a specific problem or issue that a taxpayer encounters in practice. Both the group assigned to perform the oral
reporting and the group/s required to submit the written report should come up with a tax advice to address the tax problem
or issue.

The oral reporting on a topic shall occur on (and the submission of the written report on such topic shall be due on) Weeks 2,
3, 6, 10 and 13 during face to face sessions except for the first topic, which shall be presented online. The submission of the
written report on a topic shall be due on the same day the corresponding oral presentation was performed by the oral reporting
group (i.e., 11:59 pm of such day). The submission of the written report shall be paperless (i.e., not be printed but should be
uploaded in Canvas). A group will only do one (1) oral report and submit one (1) written report during the term.

The written business report should contain the following:

1. Executive summary
2. Table of contents
3. List of tables
4. List of figures
5. Nature of the tax issue or problem
6. Evaluation of the tax issue or problem; or tax implication of the transaction with extensive discussion of legal bases
7. Possible alternatives (enumerate alternatives to address the tax issue or problem)
8. Evaluation of possible alternatives (discussion on the evaluation of alternatives with discussion of legal bases and
computations)
9. Recommendation
10. Reference list

The headings for items 5 and 6 should be specific to the issue or problem being addressed (e.g., Sale of real properties for
item 5; Tax implication of sale of real properties for item 6 with sub-headings: regular corporate income tax/minimum
corporate income tax, capital gains tax, among others). With respect to items 7 and 8, these will only be used if the tax advice
requires alternatives. The business report should not contain other headings other than the above items unless approved by
the faculty.

The business report may contain 3,000 to 5,000 words (body only), however, it is the quality that matters. It may contain
pictures, charts or diagrams, and appendices showing the calculations and supporting documentation.

Use business English in preparing the business report and write using the first person (i.e., use “we”). Assume that the group
is a tax consultant.

On the other hand, the slides for oral presentation, as a minimum, should contain the following:

1. Nature of the tax issue or problem

2. Evaluation of the tax issue or problem, if applicable
3. Possible alternatives and analysis
4. Recommendation

Case study on tax return preparation –

This will be an individual assessment on the preparation of tax returns. Cases will be assigned on certain meetings to require
students to prepare the applicable tax returns. The purpose of this is to apply the concepts and techniques in the preparation
of the applicable tax returns.

Class standing –

This will include the following:

• Graded recitation/class participation

• Attendance, punctuality, good manners and right conduct
• Assignment notebook (columnar)
Page 5 of 12
Each student is required to have an assignment notebook which contains solutions to all the problems assigned regardless if
the same was actually discussed in class. The solutions should be manually written on the notebook (softcopies and hardcopies
of computerized solutions including those which are printed and pasted on the notebook are not allowed). The student is
required to take pictures of the solutions to the problems prepared manually and submit these online in the Assignment thread
on or before the deadline. Moreover, the solutions may be shared to another student for checking. If there are corrections, the
student is required to revise and update the solutions, and upload the updated version in the Assignment thread within one
week from the original deadline.

FOURTH-HOUR ACTIVITIES:

The following are the fourth-hour activities of the course, among others:

• Preparation of solutions to problem assignments

• Discussions in Forums within Canvas with respect to problems assigned which were not discussed during face to
face or online classes
• Individual online class discussion/participation
• Preparation of business report
• Additional lecture hours, as needed

GRADING SYSTEM:

GRADE POINT DESCRIPTION PERCENTAGE

4.0 Excellent 97 – 100
3.5 Superior 93 – 96
3.0 Very Good 89 – 92
2.5 Good 85 – 88
2.0 Satisfactory 80 – 84
1.5 Fair 75 – 79
1.0 Passed 70 – 74
0.0 Failed Below 70

The student will be graded according to the following:

BASIS PERCENTAGE
Departmental long examinations (3 exams) 45%
Departmental final examination 15%
Written business report 10%
Oral business report 10%
Case study on tax return preparation 10%
Class standing 10%
Total 100%

Course grade requirement is at least 80%.

LEARNING PLAN:

Page 6 of 12
 DATE
FACE
WEEK TOPIC LEARNING ACTIVITIES HOURS
ONLINE TO
FACE
Orientation and Syllabus
1 May 9 (F) 0.5
discussion
PART 1 – GENERAL PRINCIPLES AND CONCEPT OF TAXATION
Unit 1 – General principles of May 9 (F) May 13 Discover:
taxation (T) • Read the relevant provisions on the
general principles of taxation under the
1. Concept, nature, and Tax Code, relevant regulations, and
characteristics of taxation other issuances
2. Classifications and
distinctions of taxes Discuss:
3. Limitations on the power of • Class discussion
2 taxation 1.5
4. Situs of taxation and Demonstrate:
double taxation • Business report: Oral presentation and
5. Forms of escape from written report
taxation
6. Exemption from taxation Deepen:
7. Nature, construction, • Business report: Oral presentation and
application, and sources of written report
tax laws
Unit 2 – Tax administration May 13 Discover:
(T) • Read the relevant provisions of the tax
1. Administrative agencies administration under the Tax Code,
and courts relevant regulations, and other
2. Bureau of Internal Revenue issuances
(BIR)
3. Court of Tax Appeals Discuss:
(CTA) • Class discussion
2 1
Demonstrate:
• Business report: Oral presentation and
written report

Deepen:
• Business report: Oral presentation and
written report

PART 2 – INCOME TAXATION

Page 7 of 12
 DATE
FACE
WEEK TOPIC LEARNING ACTIVITIES HOURS
ONLINE TO
FACE
Unit 3 – Gross income May 16 (F) May 20 Discover:
May 23 (F) (T); • Read the relevant provisions on
1. Gross income May 30 (F) May 27 gross income (inclusions and
2. Components of gross (T) exclusions from gross income)
income June 3 (T) under the Tax Code, relevant
3. Exclusions from gross regulations, and other issuances
income
Discuss:
• Class discussion
• Problem-solving: Presentation of
solutions and class discussion
(which may include discussions
in Forums within Canvas with
respect to problems assigned
which were not discussed during
2, 3, 4 & face to face or online classes)
9
5
Demonstrate:
• Problem-solving: Presentation of
solutions and class discussion
(which may include discussions
in Forums within Canvas with
respect to problems assigned
which were not discussed during
face to face or online classes)
• Business report: Oral
presentation and written report

Deepen:
• Business report: Oral
presentation and written report

7 FIRST LONG EXAM June 21 (S) Units 1 - 3 3

Unit 4 – Deductions from Discover:
gross income • Read the relevant provisions on
deductions from gross income
1. Definition, timing, and June 6 (F) June 10 under the Tax Code, relevant
other requirements June 13 (F); (T); regulations, and other issuances
2. Business expenses June 20 (F); June 17
3. Interest expense June 27 (T) (T) Discuss:
4. Taxes • Class discussion
5. Losses • Problem-solving: Presentation of
6. Bad debts solutions and class discussion
7. Depreciation (which may include discussions
8. Depletion in Forums within Canvas with
9. Charitable and other respect to problems assigned
contributions which were not discussed during
10. Research and face to face or online classes)
5, 6, 7 & development
8 11. Pension trusts Demonstrate:
12. Optional standard • Problem-solving: Presentation of 9
deduction solutions and class discussion
13. Premium payments (which may include discussions
14. Special deductions in Forums within Canvas with
15. Items not deductible respect to problems assigned
which were not discussed during
face to face or online classes)
• Business report: Oral
presentation and written report

Deepen:
• Business report: Oral
presentation and written report

10 SECOND LONG EXAM July 12 (S) Unit 4 3

Page 8 of 12
 DATE
FACE
WEEK TOPIC LEARNING ACTIVITIES HOURS
ONLINE TO
FACE

Unit 5 – Gains and losses June 27 (F) Discover:

from disposition of property • Read the relevant provisions on
gains and losses from disposition
1. Tax basis of properties of property under the Tax Code,
2. Exchanges of properties in relevant regulations, and other
corporate readjustments issuances
3. Capital gains and losses
4. Capital gains on sale or real Discuss:
property • Class discussion
5. Dealings in stocks and • Problem-solving: Presentation of
securities solutions and class discussion
(which may include discussions
in Forums within Canvas with
respect to problems assigned
which were not discussed during
face to face or online classes)
8 0.5
Demonstrate:
• Problem-solving: Presentation of
solutions and class discussion
(which may include discussions
in Forums within Canvas with
respect to problems assigned
which were not discussed during
face to face or online classes)
• Business report: Oral
presentation and written report

Deepen:
• Business report: Oral
presentation and written report
• Tax return preparation
Unit 6 – Sources of income June 27 (F) Discover:
• Read the relevant provisions on
1. Situs of sources of income sources of income under the Tax
2. Gross income from sources Code, relevant regulations, and
within the Philippines other issuances
3. Taxable income from
sources within the Discuss:
Philippines • Class discussion
4. Gross income from sources • Problem-solving: Presentation of
without the Philippines solutions and class discussion
5. Taxable income from (which may include discussions
sources without the in Forums within Canvas with
Philippines respect to problems assigned
6. Income from sources partly which were not discussed during
within and partly without face to face or online classes)
8 the Philippines 0.5
Demonstrate:
• Problem-solving: Presentation of
solutions and class discussion
(which may include discussions
in Forums within Canvas with
respect to problems assigned
which were not discussed during
face to face or online classes)
• Business report: Oral
presentation and written report

Deepen:
• Business report: Oral
presentation and written report

Page 9 of 12
 DATE
FACE
WEEK TOPIC LEARNING ACTIVITIES HOURS
ONLINE TO
FACE
Unit 7 – Taxation of June 27 (F) July 8 (T); Discover:
individuals July 11 (F); July 15 • Read the relevant provisions on
(T); taxation of individuals under the
1. Classes of individual Tax Code, relevant regulations
taxpayers and other issuances
2. Concept of withholding
taxes Discuss:
3. Final withholding taxes • Class discussion
4. Fringe benefits tax • Problem-solving: Presentation of
5. Compensation income solutions and class discussion
earners (which may include discussions
6. Withholding tax on wages in Forums within Canvas with
7. Business income earners respect to problems assigned
a. Itemized deduction which were not discussed during
b. Optional standard face to face or online classes)
11, 12 & deduction
Demonstrate: 5
13 c. 8% income tax
8. Minimum wage earners • Problem-solving: Presentation of
9. Income tax of spouses solutions and class discussion
10. Senior citizen and persons (which may include discussions
with disabilities in Forums within Canvas with
11. Barangay Micro Business respect to problems assigned
Enterprises (BMBE) which were not discussed during
12. Tax credits face to face or online classes)
13. Filing of tax returns and • Business report: Oral
payment of taxes presentation and written report
14. Administrative
requirements Deepen:
• Business report: Oral
presentation and written report
• Tax return preparation

July 18 (F) and July 22

13 THIRD LONG EXAM Units 5 - 7 3
(T) (during class hours)

14 FINAL EXAM August 4 (M) Units 1 - 7 3

REFERENCES:

A. Books:

De Leon, H. S. and De Leon, H. M. (2016) The Law on Income Taxation (With Illustrations, Problems and
Solutions), 15th Edition. Manila, Philippines: Rex Book Store.

Casasola, E. M. (2012) NIRC and Other Tax laws. Manila, Philippines: Rex Book Store.

De Leon, H. S. and De Leon, H. M. (2016) The Fundamentals of Taxation, 17th Edition. Manila, Philippines: Rex
Book Store.

B. Revenue Regulations, Revenue Memorandum Circulars and other BIR Issuances

C. Online Resources:

Republic Act (RA) No. 10963 “Tax Reform for Acceleration and Inclusion (TRAIN).” [Online]. Available from:
https://www.officialgazette.gov.ph/downloads/2017/12dec/20171219-RA-10963-RRD.pdf (Accessed: June 20, 2021)

RA No. 11534 “Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.” [Online]. Available from:
https://www.bir.gov.ph/images/bir_files/internal_communications_2/RMCs/2021%20RMCs/RMC%20No.%2042-
2021%20RA%20No.%2011534.pdf (Accessed: June 20, 2021)

CLASS POLICIES:

Course-Specific Policies:

• It is the responsibility of the student to be mindful of his/her absences/tardiness and performance in class.

Page 10 of 12
• Specific class policies on attendance, make-up quizzes, academic honesty, grading system, dress code, classroom
management are to be discussed by the faculty member on the first day of online classes.

Department Policies:

• Please observe consultation hours/schedule of the faculty member.

• For student concerns regarding the course, please email the Accountancy Department Vice Chair.

NETIQUETTE:

When posting on the discussion boards and chat rooms, it is important to understand how to interact with one another online
through netiquette. Your AnimoSpace Manual, which can be found in your AnimoSpace account, included the netiquettes
reiterated below:

• Treating other users with respect. Remember that you are talking with human beings behind the screen.
• Always using your professors’ proper title. Unless specifically invited, do not refer to them by first name.
• Reading all messages in a discussion thread before replying so as not to repeat someone else’s post without adding
something of your own to it
• Using clear and concise language with correct spelling and grammar
• Keeping discussion posts brief but thorough, on topic and within the scope of the course material
• Reviewing your posts before sending to ensure you are avoiding slang terms, texting abbreviations and caps lock
• Being open minded of other’s opinions even when they differ from your own
• Muting your microphone in a conference if it is not your time to talk in order to minimize background sound
• Sending private messages to individuals instead of flooding the public chat

TECHNOLOGY SUPPORT:

If you need technical assistance at any time or to report a problem you can contact the Information Technology Service
Office at https://www.dlsu.edu.ph/offices/its/, ITS Help Desk @ the Manila Campus Room 305, Gokongwei Hall, De La
Salle University, 2401 Taft Avenue, 1004 Manila, Philippines. E-mail at [email protected]

RVRCOB CODE OF ETHICS:

As a business leader I recognize my role in society.

• My purpose is to lead people and manage resources to promote human development and the common good and to
create value that no single individual can create alone.
• My decisions affect the well-being of individuals inside and outside my enterprise, today and tomorrow.

Therefore, I promise that:

• I will manage with loyalty and care, and will not advance my personal interests at the expense of my enterprise or
society.
• I will promote socially useful products and services which serve human development, keeping in mind reasonable
access for the poor and underprivileged.
• I will understand and uphold, in letter and spirit, the laws and contracts governing my conduct and that of my
enterprise.
• I will refrain from corruption, unfair competition, or business practices harmful to society.
• I will respect the human rights and dignity of all people affected by my enterprise, and I will oppose discrimination
and exploitation.
• I will promote a humane and enabling work community within my organization.
• I will promote the just allocation of resources for all stakeholders of the company.
• I will respect the right of future generations to advance their standard of living and enjoy a healthy planet.
• I will report the performance and risks of my enterprise accurately and honestly.
• I will invest in developing myself and others, helping the management profession continue to advance and create
sustainable and inclusive prosperity.
• In exercising my professional duties according to these principles, I recognize that my behavior must set an example
of integrity, eliciting trust and esteem from those I serve. I will remain accountable to my peers and to society for
my actions and for upholding these standards.

Adapted from:
The Global Business Oath (http://theoathproject.org/?page_id=47)
Vocation of the Business Leader (http://www.stthomas.edu/cathstudies/cst/VocationBusinessLead/)

COVENANT FOR SHARED PROSPERITY:

Page 11 of 12
We therefore pledge and commit to:

• Recruit, train and develop our employees and managers to be the best that they can be irrespective of gender, alma
mater, age, ethnicity and religion; provide just compensation and benefits; promote meritocracy and encourage work-
life harmony;
• Provide only quality products and services that are of continuing value to our customers;
• Treat our goods, service and funds providers fairly, ethically and with respect as we expect them to treat their own
workers in their supply chain the same way;
• Be actively involved in the communities where we operate in with particular attention to the needs of the
disadvantaged in those communities;
• Protect and preserve the environment for the benefit of current and future generations by employing environment
friendly technologies in all aspects of business operations; and
• Deliver reasonable and just returns to and fair treatment of our controlling and non-controlling shareholders.

Adapted from:
Philippine Business Group's Covenant of Shared Prosperity (November 5, 2020)

Prepared by: Approved by:

Atty. Gregorio L. de Lima III Dr. Arnel Onesimo Uy Dr. Emilina R. Sarreal
Facult Chair, Accountancy Department Dean, RVRCOB

Mr. Aaron C. Escartin

Course Coordinator / Cluster Head –
RFBT and Taxation

Page 12 of 12