1. Which of the following cannot be considered as tax avoidance? a. Splitting of donation b. Survivorship agreement c.

Holding period for capital asset transactions @d. None of the above 2. Assessment is necessary in the following cases, except: @a. before the preliminary investigation of a fraudulent tax evasion case could prosper b. to fix the tax liability of a taxpayer c. establish a case for judicial action d. for issuance of warrant of distraint or levy 3. The prescriptive period for collection of taxes is: a. 10 years from discovery of omission to file return, falsity or fraud if there is no assessment b. 3 years from filing of return c. 5 years from release of assessment @d. a and c are correct 4. Importation of automobiles is subject to: @a. Graduated Ad valorem tax of 2% to 60% b. VAT of 12% c. Specific tax d. a and b e. Exempt 5. The manufacture and importation of the following for local consumption are subject to excise tax, except:

a. alcohol products b. tobacco products @c. cinematographic films d. mineral products 6. No credit/refund of taxes shall be allowed unless the taxpayer: @a. Files a written claim for credit/refund with the BIR within 2 years from payment b. Pays the tax under protest c. Appeals to the CTA d. Amends his tax return 7. Assessment is: a. A written notice of the tax due b. Based on facts and not presumed c. Demand for payment of the tax within a prescribed period of time @d. All of the above

8. Requirements in order that retirement benefits may be exempt from income tax: a. Must be paid to an employee who is at least 50 years old and has served his employer for at least 10 years b. Exemption from taxation of retirement benefit must be availed of only once c. The benefit must be received under an existing Collective Bargaining Agreement @d. a and b only 9. For purposes of the donors tax, the following are considered strangers: a. Brother or sister, whether whole or half-blood b. Relatives by consanguinity in the collateral line within the 4th civil degree

@c. Relatives by affinity, except the spouse of the donor d. None of the above 10. The special deductions from the gross estate are the following, except: @a. Judicial expenses in testate or intestate proceedings b. Standard deduction c. Family home up to P1,000,000 d. Medical Expenses within one year from the death of the decedent not exceeding P500,000

Onare Hans Val L. Catacho