Jayvsenining
Jul 22, 2015, 09:18 PM
TRUE OR FALSE:
1. The state can enforce contributions upon its citizens in the form of taxes only if there is a conctitutional provision authirizing it.
2. All government entities regardless of their functions are exempted from taxes because it would be impractical for government to be taxing itself.
3. The benefits from taxation need not to be experienced to justify the legitimacy of collecting of taxes from the people.
4. Taxation, like police power is restricted by constitutional provisions.
5. When the power to tax is delegated to the local government,only the legislative branch of the local government can exercise the power.
6. Taxes collected by BIR are local taxes.
7. A tax evader sidesteps the law while tax avoider breaks it.
8. Protection is the basic consideration that justifies tax suits.
9. Tax exemption is transferable and assignable.
10. BIR rulings are the best opinions regarding the interpretations of the tax laws and are considered sound law until changed by the court.
11. No person shall be imprisoned for nonpayment of poll tax.
12. Taxation is inseparable in the existence of a nation.
13. Tax assessment is a process of taxation which involves the passage of tax law and ordinances through legislature.
14. Tax laws are given retroactive effect because the rule "ex post facto law" is applicable for tax purposes.
15. In general, bills need not be signed by the president to become a law.
16. Revenues derived from taxes cannot be used for exclusive use of private persons.
17. An aspect of tax power that could be delegated to the president covers both legislative and administrative function.
18. Taxation is considered as the lifeblood of the government and every government unit must exercise this power.
19. Taxation, like eminent domain is limited by the constitutional provision that private property may not be taken without just compensation.
20. The primary requisite of equity principle is that each taxpayer should be required to contribute equal amounts in the form of taxes.
21. A tax may be levied for the support of religious activities as long as all churches benefit from it.
22. Taxes may be exercised to encourage economic growth by granting tax exemptions.
23. As a rule, doubts as to imposition must be resolved liberally in favor of the government and strictly against the taxpayer.
24. There is direct double taxation by granting by taxing corporate income and corporate stockholders' dividends from the same problem.
25. The state can still exercise its taxing powers over its citizen even if he resides outside the tax state's territory.
26. All increase in taxpayer's net worth are taxable income.
27. Income earned by a resident Filipino citizen from all sources is taxable in the Philippines.
28. Under the accrual basis of reporting income, income is reported in the year of collection.
29. An accrued interest income credited to the taxpayer is constructively received.
30. A taxpayer engaged in sale of personal goods on a casual basis is allowed to report income by installment only if the initial payments do not exceed 25% of the selling price.
31. Income from illegal activities are taxable.
32. Either calendar or fiscal period consist of twelve months which starts from January to December of the taxable year.
33. Passive income is subject to normal tax only if not subject to final tax.
34. In installment method, the excess of mortgage assumed by the seller over the cost of the property sold is considered part of the initial payment.
35. In installment sale, if the initial payment exceeds 25% of the selling price, the transaction is considered cash sales.
36. If compensation is received in the form of notes or other evidences of indebtedness, the basis of tax is the face value of the instrument.
37. The income distribution of foreign corporation, which is doing less than 50% of its business within, is considered as partly earned within and partly earned outside the Philippines by the recipient of such income distribution.
38. Under the crop basis, the entire cost of producing the crop is deductible only from gross income in the year in which the crop was realized.
39. A foreigner who stays in the Philippines for more than 180 days during the taxable year is deemed as doing business within and his income within and outside the Philippines is taxable in the Philippines.
40. The allowances for personal exemption of a single mother with dependent child out of the wedlock are P50,000 and P25,000, respectively.
41. The personal exemption of a nonresident alien not engaged in business in the Philippines is subject to reciprocity agreement.
42. A citizen who works abroad most of the time during the taxable year is a nonresident citizen.
43. A dependent senior citizen is not entitled for additional exemption of P25,000
44. When there is a tax treaty agreement, both the basic and the additional exemptions can be availed by a nonresident alien engaged in trade and business in the Philippines but subject to limit.
45. An individual taxpayer is exempted from filing income tax return if his sole income has been subjected to final withholding tax.
46. Nonresident aliens engaged in business in the philippines are allowed with personal exemptions and additional exemptions subject to reciprocity.
47. An alien residing and ding business in the Philippines is allowed to have tax credit for income tax paid in other country.
48. At the option of a resident taxpayer, income tax paid in foreign countries can be claimed as deduction from gross income or tax credit subject to limit.
49. A filipino citizen classified as special taxpayer is required to be taxed based on his gross compensation income subject to final tax of 15%.
50. For self-employed taxpayers, their quarterly income tax returns are to be reduced with corresponding personal exemption.
1. The state can enforce contributions upon its citizens in the form of taxes only if there is a conctitutional provision authirizing it.
2. All government entities regardless of their functions are exempted from taxes because it would be impractical for government to be taxing itself.
3. The benefits from taxation need not to be experienced to justify the legitimacy of collecting of taxes from the people.
4. Taxation, like police power is restricted by constitutional provisions.
5. When the power to tax is delegated to the local government,only the legislative branch of the local government can exercise the power.
6. Taxes collected by BIR are local taxes.
7. A tax evader sidesteps the law while tax avoider breaks it.
8. Protection is the basic consideration that justifies tax suits.
9. Tax exemption is transferable and assignable.
10. BIR rulings are the best opinions regarding the interpretations of the tax laws and are considered sound law until changed by the court.
11. No person shall be imprisoned for nonpayment of poll tax.
12. Taxation is inseparable in the existence of a nation.
13. Tax assessment is a process of taxation which involves the passage of tax law and ordinances through legislature.
14. Tax laws are given retroactive effect because the rule "ex post facto law" is applicable for tax purposes.
15. In general, bills need not be signed by the president to become a law.
16. Revenues derived from taxes cannot be used for exclusive use of private persons.
17. An aspect of tax power that could be delegated to the president covers both legislative and administrative function.
18. Taxation is considered as the lifeblood of the government and every government unit must exercise this power.
19. Taxation, like eminent domain is limited by the constitutional provision that private property may not be taken without just compensation.
20. The primary requisite of equity principle is that each taxpayer should be required to contribute equal amounts in the form of taxes.
21. A tax may be levied for the support of religious activities as long as all churches benefit from it.
22. Taxes may be exercised to encourage economic growth by granting tax exemptions.
23. As a rule, doubts as to imposition must be resolved liberally in favor of the government and strictly against the taxpayer.
24. There is direct double taxation by granting by taxing corporate income and corporate stockholders' dividends from the same problem.
25. The state can still exercise its taxing powers over its citizen even if he resides outside the tax state's territory.
26. All increase in taxpayer's net worth are taxable income.
27. Income earned by a resident Filipino citizen from all sources is taxable in the Philippines.
28. Under the accrual basis of reporting income, income is reported in the year of collection.
29. An accrued interest income credited to the taxpayer is constructively received.
30. A taxpayer engaged in sale of personal goods on a casual basis is allowed to report income by installment only if the initial payments do not exceed 25% of the selling price.
31. Income from illegal activities are taxable.
32. Either calendar or fiscal period consist of twelve months which starts from January to December of the taxable year.
33. Passive income is subject to normal tax only if not subject to final tax.
34. In installment method, the excess of mortgage assumed by the seller over the cost of the property sold is considered part of the initial payment.
35. In installment sale, if the initial payment exceeds 25% of the selling price, the transaction is considered cash sales.
36. If compensation is received in the form of notes or other evidences of indebtedness, the basis of tax is the face value of the instrument.
37. The income distribution of foreign corporation, which is doing less than 50% of its business within, is considered as partly earned within and partly earned outside the Philippines by the recipient of such income distribution.
38. Under the crop basis, the entire cost of producing the crop is deductible only from gross income in the year in which the crop was realized.
39. A foreigner who stays in the Philippines for more than 180 days during the taxable year is deemed as doing business within and his income within and outside the Philippines is taxable in the Philippines.
40. The allowances for personal exemption of a single mother with dependent child out of the wedlock are P50,000 and P25,000, respectively.
41. The personal exemption of a nonresident alien not engaged in business in the Philippines is subject to reciprocity agreement.
42. A citizen who works abroad most of the time during the taxable year is a nonresident citizen.
43. A dependent senior citizen is not entitled for additional exemption of P25,000
44. When there is a tax treaty agreement, both the basic and the additional exemptions can be availed by a nonresident alien engaged in trade and business in the Philippines but subject to limit.
45. An individual taxpayer is exempted from filing income tax return if his sole income has been subjected to final withholding tax.
46. Nonresident aliens engaged in business in the philippines are allowed with personal exemptions and additional exemptions subject to reciprocity.
47. An alien residing and ding business in the Philippines is allowed to have tax credit for income tax paid in other country.
48. At the option of a resident taxpayer, income tax paid in foreign countries can be claimed as deduction from gross income or tax credit subject to limit.
49. A filipino citizen classified as special taxpayer is required to be taxed based on his gross compensation income subject to final tax of 15%.
50. For self-employed taxpayers, their quarterly income tax returns are to be reduced with corresponding personal exemption.