Friday, May 16, 2008

Book Review: Co Untian's Tax Digest

Admittedly, Taxation is a very hard subject to understand, since it is basically a mathematical subject crouched in undecipherable language known as the NIRC. This is where Crescencio Co Untian's book Tax Digest comes in handy.

Co Untian uses the Q&A format, ideal for exam reviews. The important concepts are organized into topics, which makes for easier reading. He also uses plain and clear language, in contrast to the convoluted language used in the NIRC. It is good for memorization, since enumerations are conspicuously presented. Moreover, some parts are explained with illustrative problems and solutions, to gauge the reader's understanding.

A word of caution, though. More often than not, the legal bases for the answers are not given. So it is hard to cross-refer to the codal provisions or case laws. And while this edition was published in 2005, R.A. 9337 (a law enacted on the same year) is not yet inlcuded. Thus, in the book, a corporation's income tax rate is still pegged at 32% (when it should be 35% for 2008 and 30% for 2009); and VAT rate is still at 10% (when it should be 12%). However, I noticed that in Rex Bookstore's website, the published date was 2005/06. *Maybe* the 2006 version has already included R.A. 9337. I'll have to check on that.

I don't this book should and can be used as a primary book for Tax I or II because it does not elaborate on the topics, it just gives the bare essentials. But precisely because the book presents Taxation at its simplest, it is ideal for the bar exam, or for your final reading for an upcoming exam, or as a reference just to refresh your memory.

Title: Tax Digest: A Compact Reviewer on Internal Revenue Taxes, Local Government and Real Property Taxes, Tariff and Customes Duties
Author: Crescencio P. Co Untian, Jr.
Edtion: 3rd
Year of Publication: 2005
Publisher: Rex Bookstore, Inc.
Number of Pages: 216

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