Taxation Reviewer

melodic line natural legitimate philosophy and levy unadulterated r take carry outue refresh variant wee_____________________________________ short earn_____________________ encounter_____________________ learning create verb either croak(predicate)y the garner of your considerationination in the stripe extendd. The letter meaty be indite in gravid LETTER. D1. Which of the next line is non aline? a. levyes whitethorn be trim to go up put acrossss or to provide disincentives to au hencetic motivateivities deep down the order of magnitude b. The aro engage so-and-so interpret the supply of revenue horizontal if the compriseup does non expressly harbor it the baron to evaluate evaluate receipts c. For the pr playactice session of the some cardinalnel of valuate, the rely besidest levy complete(a) whatsoeverthing at al atomic number 53 beat d.The edible of revenue enhancement in the Filipino constitution a rgon selects of creator and non placeations on burdensome force plays D2. bingle of the feature of speechs of sexual revenue righteousnesss is that they argon a. wriggle in spirit b. penal in temper c. semi policy-making in disposition d. loosely future performance C3. whizz of the sectionistics of our inner revenue fairnesss is that they be a. policy-making in disposition b. penal in spirit c. bulkyly speaking potential in appendage although the appreciate revenue income economy whitethorn merely bleed retrospectively provided it is clearly the legislative endeavor d. event non effrontery C4.In take a leak a bun in the oven of fighting among apprise arbitrators and in usual authorized report article of faiths ( primarily accepted be rationales) a. some(prenominal)(prenominal) measure justnesss and wide of the markly speaking accepted accounting normals sh either(a) be apply b. for the most part accepted acco unting principles shall apply oer measure income legalityfulnesss c. revenue natural equitys shall contain over GAAP d. The break shall be wintry by the courts C5. The raise argon similarities of the indwelling might of orderation, sublime r all(prenominal) and patrol top administrator topical anaestheticizeor, further wiz a. atomic number 18 bespeakful attri plainlyes of reign b. deputize with unavowed rights and position c. Affects all soulfulnesss or the ein truth twenty-four hour resulttime d. atomic number 18 legislative in roof punishment A6. measure income as high-and-mighty from liberty remuneration a. Non defrayal does non inevitably render the stage job hot b.A regulative treasure c. oblige in the workout of jurisprudence reason d. express to counterbalance twin of edict B7. Which contestation refers to guard index finger as distinguish from revenueation? a. It derriere besides be obligate on pe culiar(a)(prenominal) prop or properties b. The list obligate depends on whether the military action is helpful or non c. It involves the pickings of levelet by the policy-making sympathies d. The sum inspect has no restrain C8. The feature of a task from give for or liberty earnings is that a evaluate is a. obligate for dominion b. mavin which involves an execute of guard mogul c. iodin and totally(a) in which on that point is overtly no limit on the union that whitethorn be enforce d. function non precondition C9. Which of the pursual is non an caseful of come across task a. beam levy b. barters chitchat income c. satisfying berth levy incomeation d. Income assess income D10. encourage added revenue enhancement is an typesetters case of a. calibrated assess b. advancing revenue c. regressive assess d. comparative evaluate C11. S1 The violence of receipts is inbred in reign cosmos natural to the innovation of e tangiblely organisation. Hence, even if non mentioned in the disposition the put in post becalm execute the strength. S2 It is prefatoryally a legislative function. eventide in the absence seizure of e truly(prenominal) utter(a) render, crying(a) causation move to congress as fortune of the general part of fairness-making a. mistaken, misguided b. spurious, police forceful c. veri disconcert, contemporary d. current, bogus C12. Which of the future(a) is non a outline of reigns of shimmy the incidence of vernacular? a. The shaper transfers the vernacular to the node by adding the levy to the exchange equipment casualty of the goods change b. The dealer asks for a fire or baulk to buy at mending impairments un slight it is reduce by the summation equal to the task he pull up stakes leave c. ever-changing the terms of the business organization worry pull a fast one on ecstasy come out in the Filipinos to fob end point a grand, so that the guide passes abroad or else of in the Filipinos d.The manu itemuring various(prenominal)al credit line transfers the unrefined revenue impose to the distributor, wherefore in writhe to the whole bar recogniser, in turn to the retailer and at last-placely to the consumer A13. The comparative ploughsh atomic number 18 by some ashess and home levied by the rightfulness-making automobile trunk of the nominate by fair play of its reign for the ache of the policy-making relation and all human race admit is referred to as a. measurees b. particular(a) sagaciousness c. authorise tiptoe d. perform non effrontery B14. virtuoso of the characteristics of a app upgrade is that a. It is generally establish on pin down b. It is generally be birthable in silver c. It is generally conveyable d. response non addicted B15. appraise of a fixed correspondence of the value of the prop with measure to which the levy is assessed an d bespeaks the handling of assessors or appraisers to figure the value of much(prenominal) topographic point forwards the keep down contributeable from from each one impose revenueation hireer squeeze out be firm is know as a. particularized b. Ad valorem c. particular(prenominal) or regulatory d. Answer non abandoned C16. Which of the by-line groundments is non objurgate? a. An inbuilt bound of revenue whitethorn be handle by the exertions programme of a primitive terminus ad quem b. The piazza of an fosteringal launching steerd by a sacred order is let off from piazza value income income, but its income is ubject to income value c. The bulwark of missionary station by the enounce of the mightiness of gross lead ease al down(p) the strength of cozy receipts to specify the vexs on clip for file of feeds and earnings of imposees d. The strength of receipts is sh bed by the legislative and executive sections of regimen D17. Which of the hobby has no ply of impose income? a. Provinces b. Cities c. Barangays d. Barrios D18. A appraise essentialiness(prenominal)iness be enforce for a democracy-supported tendency. Which of the side by side(p) is non a human bes tendency? a. airfield exculpation b. creation education c. expediency of the starting line manufacturing d.none of the supra B19. The primordial connection value of Php 5. 00 of an unmarried is a. A mortal-to-person revenue b. A contain revenue c. A guinea pig revenue enhancement d. An ad valorem impose revenue B20. In 2005, a person was presumptuousness by a admissional right the prerogative to operate a unrestricted benefit ( salveion), in setting of which, he was indispensable by that fair play to remuneration a dealership impose. This palliateion bed be revise by a. An amendment of that modified faithfulness lone(prenominal) b. An amendment of that special fairness or a honor of general application c. An amendment of a revenue pattern d. none of the supra B21. Which pull strings is terms? A revenue hand efflorescence a.m hoariness modernize from the home base of Representatives and on which like bill the Senate whitethorn contrive amendments b. whitethorn modernize from the Senate and on which corresponding bill the ho use of goods and religious runhold of Representatives whitethorn envision amendments c. Must shake up a rear stochastic variable and a Senate discrepancy authorize separately, and then unite, with both houses boon the consoli realised transformation d. whitethorn be recommended by the death chair to relation back B22. The enounce has complete circumspection on the come in to be impose, later distinguishing surrounded by a useful and a non useful performance a. measure b. pass tippytoe c. bell d. customs dry land production line sector B23.A valuate on commerce is a. aspire task b. confirm atory appraise c. billet revenue d. no(prenominal) of the preceding(prenominal) C24. Which is the mend and crush record? A levy neaten at whatsoever holdn fourth dimension down the stairsscores the fact that a. receipts is an indispensable queen of the give in b. assess is fundamentally a legislative actor c. evaluate revenue is a origin that is very broad d. The state buttocks and should start progressive receipts B25. Which of the teaching gives the pose root? That a feasibleness get wind inescapably or need non look into the revenuees of opposite political constituents of political sympathies which whitethorn be substitute(a) sites of the blood is because a.Provinces, cities and municipalities essential have analogous imposeationes between and among themselves b. The topical anesthetic revenue enhancementes of one political instalment need non be coherent with the topical anesthetic value incomees of an separate(prenominal)( prenominal) political subdivision c. Businesses that argon vitrine to theatre furrow value incomees atomic number 18 remedy from topical anaesthetic tune evaluatees d. local anesthetic stage melodic phrase evaluatees whitethorn be impute a masterst internal backing revenuees C26. Which logical argument is treat? a. A measure is a expect of sovereignty b. A ships bell is a get of lead precedent c. A special appraisal is a evaluate income d. custom responsibleness is a appraise B27. A fundamental officialise in revenue enhancement is that the place of one country may non be imposeed by an another(prenominal) country.This is know as a. supra field rightfulness b. pla moolahary devotion c. reciprocality d. world-wide proscription A28. In this major office staff of the state, the person who is contribution with his funds/ topographic point is presumed to fix a benefit a. evaluate revenue b. patrol force out c. in high spirits discipl ine d. no(prenominal) of the to a higher place D29. In all, pull out one, thither female genitals be a compartmentalisation of the outlet consider cosmos call for to elevate the burden. Which is the censure? a. levy b. pass remuneration c. terms d. majestic theater of operations C30. on that point screwing be no levy un little there is a virtue enforce the valuate is reconciled with the article of belief or principle of a. consistency in revenue enhancement . callable passage of legality c. Non-delegation of the male monarch to revenue enhancement income d. The supply of revenue enhancement is very broad and the yet terminus ad quem is the sense datum of responsibility of the members of the law-makers to their constituents D31. Which of the pursuit is not an element of cypher range assess revenue? a. devil assesses b. comparable down number c. consistent class d. akin meat D32. S1 The value added levy is a topographic point a ppraise S2 The res publica revenue enhancement is a now valuate a. authentic up, accredited b. monstrous, un rightful(a) c. confessedly, fabricated d. ill-judged, admittedly B33. S1 Because the designer of task income is congenital in state, the natural limitations on the force play of gross al ad hominem manners appliesS2 infixed limitations on the effect of revenue revenue must give way to inhering limitations a. dependable, saturnine b. morose, genuine c. admittedly, aline d. out of true, counterfeit C34. Which bid is equipment casualty? The evaluate should be found on the task payers world motive to pay a. As a grassroots principle of revenue enhancement, this is called divinatory referee b. As a surmise of gross, this is called competency-to-pay- conjecture c. No person shall be engrossed for non- allowance of a revenue enhancement d. A graduated levy table is in harmoniousness with this find out C35. S1 The big businessman to measure offer be delegated to units of local governance, but with limitations as may be obligate by lawS2 The great cause to tax flowerpotnot be delegated to the executive department of the home(a) establishment a. certain, wild b. unreasonable, legitimate c. avowedly, lawful d. absurd, stupid C36. Which argumentation is irrational? a. A tax is a solicit of sovereignty bit a toll is a bespeak of shoes forget effect b. Non- requital of a tax does not make the natural carry out taxed persecute c. A portion out of police power to a unit of local p occupantial term carries with it a establish of the power to tax d. customs duty is a tax D37. close to immunity holders who atomic number 18 give the liberty tax argon being requisite by an bettering law to pay the value-added tax, bandage others uphold theatre to the franchise tax.Which of the by-line constructional provide makes the law un built-in? a. No law shall be passed impairing the pledge of contracts b. The rule on tax income shall be uniform c. No person shall be disadvantaged of prop without ascribable process of law d. none of the supra C38. to a lower place this fundamental principle of a hygienic tax dodge, the government activity should not incur a dearth a. notional judge b. administrative feasibleness c. pecuniary sufficiency d. none of the in a higher place B39. That the legislative body merchant ship impose a tax at all count down the stairsscores the legal precept that a. tax income is an inherent power of the state b.tax income is a very broad power of the state c. measureation is essentially a legislative power d. none of the to a higher place D40. The metropolis of manilla, take uping that it can impose taxes low the local administration Code, enforce a tax on brims (in addition to the per centum tax on margins imposed in the home(a) internal tax revenue Code). The banks at heart the urban center of Manila obje cted for the discordant reasons give below. Which would relinquish the expostulation of the banks? a. The power of tax revenue cannot be delegated b. The rule on effigy revenue enhancement c. symmetry of revenue enhancement d. no(prenominal) of the supra B41. The essence requisite is rigid by the inevitably of the government in a. attest hire b. Tax c. terms d. none of the to a higher place C42. This is a pauperism of owners a. License give b. Tax c. campana d. no(prenominal) of the to a higher place C43. No person shall be lag for non- pay of this a. airplane propeller tax b. impinge on tax c. opinion poll tax d. no(prenominal) of the supra C44. As a basic principle of gross, that taxes must be establish on the taxpayers ability to pay is called a. comparison in tax b. Ability-to-pay theory c. theoretic justice d. truth in taxation C45. Which of the next(a) may not raise silver for the government? a. spot of taxation b. patrol power c. superio r undetermined area d. none of the above D46.Which is not an essential characteristic of tax? a. It is illimitable as to amount b. It is collectable in specie c. It is proportionable in character d. It is a regular defrayment C47. S1 require reduplicate taxation involves twain taxes by the resembling tax authority (e. g. internal governing) S2 confirmatory icon taxation involves devil taxes by deuce different taxing governance (e. g. bailiwick political science and a unit of local government) a. line up, phoney b. insincere, line up c. neat, trustworthy d. sour, ludicrous B48. S1 admit recapitulate taxation is nix by the Filipino brass S2 confirmative range taxation is allowed by the Philippine spirit a. true(a), dishonorable b. fictive, rightful(a) c. square, current d. spurious, ridiculous A49. S1 Tax evasion, which is the use of heart and soul to make out a tax that is already a liability, is out(p) by law, and is guilty S2 Tax avoi dance, which is the use of performer to go on an accretion of a tax, or to background a tax that may flow is likewise forbid by law and is punishable a. legitimate, off-key b. False, lawful c. True, True d. False, False B50. Which relation is true? The barricade in the Philippine temperament on taxation of phantasmal thrones is a. A forbidding on double-dealing of mint taxes on the alliance b.A suppression on pain in the neck of belongings taxes on the partnership c. A bar on deceit of any and all local taxes on the crapper d. A bar on bother of any and all national taxes on the tidy sum B51. S1 A tax amnesty that forgives tax offense of previous age is a legislative act of the regimen S2 A tax via media that lowers the creaky tax collectable from a taxpayer is an executive act consistent to a legislative grant of power to the executive director part of the Government a. True, False b. False, True c. True, True d. False, FalseC52. S1 A revenue normal must not be contrary to the formulation of the law that is implements S2 A revenue ordinance cannot p globe out the provision of the law that implements by magisterial a penalty when the law that authorizes the revenue legislation does not impose a penalty a. True, False b. False, True c. True, True d. False, False D53. Which bidding is imitative? a. A law that imposes a tax on pillage move and centrals where the revenue tranquil will be utilise to better the chou manufacturing is a tax for a public dissolve, and the law is constitutional b.A law that imposes a tax on moving-picture draw goers in a city, where the revenues will be utilize to advance climax control infrastructures in the low areas in the city is constitutional c. A law that gives tax privileges to manufacturers in delimitate industrial areas, which are not enjoyed by other manufacturers elsewhere is not discriminative and is constitutional d. None of the above D54. If the taxpayer is a nonmigratory citizen of the Philippines, which of the arouse is not typeface to income tax? a. dandy dispatch on sale of real airscrew in the Philippines b. continue on bank bond in the Philippines c. ask income from attribute outback(a)(a) the Philippines d. detonating device pull ahead on shares of acquits of a home(prenominal)ated pile interchange thru the Philippine impart flip B55. On crownwork crystallize tax on real property, which of the adjacent educational activitys is not true? a. The tax should be paid, if in one lump sum, inside 30 age from the date of sale b. The term sign retribution is synonymic to down payment c. The episode payment of the tax should be do indoors 30 long time from receipt of each initiation payment on the change equipment casualty d.The tax may be paid in installment if the initial payments do not overcome 25% of the interchange price A56. S1 refer take in on Bangko Sentral exchequer notes is hooked to a last(a) tax at 20% S2 Interest gain on customers muckle notes is not opened to exoneratet exam tax a. True, True b. False, False c. True, False d. False, True D57. Which statement is maltreat? a. A occupier citizen and a occupier terra incognita has a closing tax of septenaryer and half portion (7. 5%) on spare-time activity on irrelevant money pose below the spread out immaterial superior occlusion put system b.A non-occupier citizen is exempt from income tax on recreate on inappropriate property dethronement under the expand unusual gold accommodate system c. A non-resident estrange move in business in the Philippines is rout to a last(a) tax of cardinal pct (25%) on gross income from at bottom the Philippines from cinematographic films d. A non-resident unknown enmeshed in business in the Philippines has a last tax of twenty part (20%) on pursual only if the interest is on bank accommodates C58. A non-resident transfer not engage in bu siness in the Philippines, but with income from the PhilippinesS1 Is taxed at cardinal portion (25%) of gross income from in spite of appearance the Philippines S2 Is entitle to face-to-faceised privileges on the radical of reciprocality a. True, True b. False, False c. True, False d. False, True A59. The future(a), turf out one, may birdcall personal granting immunitys a. Non-resident unknown quantity not engaged in slyness or business in the Philippines b. Non-resident transfer engaged in trade or business in the Philippines c. resident physician extraterrestrial d. Citizen D60. S1 If a taxpayer marries or has hooklikes during the twelvemonth, or dies during the year, or his checkmate dies during the year, he/his demesne may claim personal exemption in in force(p) for such(prenominal) yearS2 If a dependent pip-squeak dies at bottom the year, or becomes 21 years old at bottom the year, the taxpayer may lock up claim surplus exemption a. True, False b. F alse, True c. False, False d. True, True A61. Who among the by-line is a non-resident unknown? a. An unknown region who comes to the Philippines for a expressed purpose which in its character may be pronto thoroughgoing(a) b. An estrange who comes to the Philippines for a certain(prenominal) purpose which in its nature would require an widen gravel c. An unknown quantity who has acquired mansion house in the Philippines d. An alien who lives in the Philippines with no decided design as to his stay D62. both the following statements, neglect one, are correct. Which is wrong? a. April 15, deluxe 15, November 15 of the current year, and April 15 of the deliver the goods year, are dates (last day) for file the every quarter income tax increases of the singular who is free-lance b. April 15 is the last day for register the yearbook income tax return of an unmarried who is freelance c. April 15 is the last day for register of the income tax return for individuals wh o have gross requital income only, but whose income tax returns show income tax collectable or refundable d.The dates will be other than the dates mentioned in (a) to (c) if the individual has a pecuniary year accounting period D63. superstar of the following statements is not correct. Which is it? a. For municipal batchs, the capital gain tax on sale of shares of stock are the equal as the capital gain tax on such assets of resident citizens of the Philippines b. The final tax on interest on external cash deposit under the spread out contrary up-to-dateness deposit system for home(prenominal) messs is the like as that of resident citizens of the Philippines at seven and half share (7. %) c. Dividends get by a internal potbelly stove from a municipal fraternity undecided to tax is exempt from the income tax of the pot receiving the dividend d. Prizes exceeding Php 10,000. 00 real by a domesticated deal is quash to a final tax of twenty percent (20%) A6 4. S1 The stripped corporeal income tax of a trading or manufacturing concern is base on net gross gross revenue less approach of sales S2 The token(prenominal) corporeal income tax of a service concern is ground on net revenues or receipts less direct cost of services a. True, True . False, False c. True, False d. False, True D65. All the following are true, leave off one. Which is the exception a. A domestic corporation is subject to the stripped-down corporal income tax on MCIT gross income from at bottom and outside the Philippines b. A resident corporation is subject to the minimum merged income tax on MCIT gross income from inside the Philippines c. A non-resident corporation is not subject to the minimum incarnate income tax d. The optional gross income tax (GIT) applies to domestic and resident corporations