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(1)
a.
Taxes may be imposed to raise revenues or to provide distinctive
disincentives to certain activities within the state;
b.
The state can have the power of taxation even if the Constitution does not
expressly give it the power to tax;
c.
For the exercise of the power of taxation, the state can tax anything at any
time;
d.
The provisions of tax in the Philippine Constitution are grants of power and not
limitations on taxing powers.
(2)
a.
Criminal in nature;
b.
Penal in nature;
c.
Political in nature;
d.
(3)
One of the characteristics of our internal revenue laws is that they are:
a.
Political in nature;
b.
Penal in nature;
c.
Generally prospective in operation although the tax statute may nevertheless
operate retrospectively provided it is clearly the legislative intent;
d.
(4) In case of conflict between tax laws and generally accepted accounting
principles (GAAP):
a.
b.
c.
d.
The issue shall be resolved by the Supreme Court as it is the one in charged
for interpreting and clarifying provisions of laws.
(5) The following are similarities of the inherent power of taxation, eminent
domain, and police power, except one:
a.
b.
c.
d.
(6)
a.
Transfer tax;
b.
Sales tax;
c.
d.
Income tax.
INHERENT POWERS
(7)
Which of the following may not raise money for the government?
a.
Power of taxation;
b.
c.
Police power;
d.
(8) In this power of the state, the person who is parting with his money or
property is presumed to receive a benefit:
a.
Taxation;
b.
Police power;
c.
Eminent domain;
d.
Forfeiture power.
(9)
a.
b.
c.
d.
b.
c.
d.
(11)The following are the similarities of the inherent power of taxation, eminent
domain and police power, except one:
a.
b.
c.
d.
Equality in taxation;
b.
c.
Theoretical justice;
d.
Equity in taxation.
(13)Under this basic principle of sound tax system, the government must be
sufficient and should not incur a deficit:
a.
Theoretical justice;
b.
Fiscal adequacy;
c.
Administrative feasibility;
d.
Debt restructuring.
(14)What basic principle of a sound tax system is met when the Congress evolves a
progressive system of taxation as mandated in the constitution?
a.
Fiscal adequacy;
b.
Administrative feasibility;
c.
Theoretical justice;
d.
Balanced budget.
b.
c.
It must be sufficient to meet government expenditures and other public
needs;
d.
Provinces;
b.
Cities;
c.
Barangays;
d.
Barrios.
(17)A fundamental rule in taxation is that the property of one country may not be
taxed by another country. This is known as:
a.
International law;
b.
International comity;
c.
Reciprocity;
d.
International inhibition.
(18)There can be no tax unless there is a law imposing that tax is consistent with
the doctrine principle of:
a.
Uniformity in taxation;
b.
c.
d.
The power of taxation is very broad and the only limitation is the sense of
responsibility of the members of the legislature to their constituents.
DOUBLE TAXATION
(19)Mrs. Napoles is the owner of various real estate properties in Baguio. These
properties are for lease and yield rental income to Napoles. Every year, she pays
value-added tax to the BIR. The city government of Baguio enacts an ordinance
imposing tax on her a lessor tax in accordance with the schedule of amounts related
to her gross rental income from the same real properties.
First question: Does the local ordinance, constitute, in effect, double taxation?
Answer: Yes, there is double taxation because there are two kinds of taxes levied on
the same person for the same occupation or business.
Pork Barrel City enacts an ordinance which imposes an occupation tax upon owners
of piggery farms. The validity of the ordinance is being challenged on the ground
that it constitutes double taxation because the piggery farm is already subject to
land use tax.
Second question: Is the ordinance valid?
Answer: Yes, because there are two different taxes involved, a tax on occupation
and a tax on land. Hence, there is no double taxation.
a.
b.
c.
d.
Taxes;
b.
Special assessment;
c.
License fees;
d.
Penalty.
(21)In case of deductions and exemptions on income tax returns, doubts shall be
resolved:
a.
b.
c.
d.
(22)Which of the following terms describes the statement, that the state has
complete discretion on the amount to be imposed, after distinguishing between a
useful or non-useful activity?
a.
Tax
duty
b. License fee
c. Toll
d. Customs
b.
c.
d.
A non-citizen of the Philippines with income from within the Philippines only.
b.
c.
d.
(26)If the tax payer is a resident citizen of the Philippines, which of the following is
not subject to income tax?
a.
b.
c.
d.
Capital gain on shares of stock of a domestic corporation sold through the
Philippine Stocks Exchange.
(27)The following, except one, may claim personal exemptions:
a.
b.
c.
Resident alien;
d.
Citizen.
(28)Which of the following BIR forms is used as a substitute filing for income tax
returns (ITR) of employees?
a.
1601C
b.
1604CF
c.
1701Q
d.
1701
e.
2316
(29)Which of the following BIR forms is used to file monthly taxes withheld on
compensation?
a.
1601C
b.
1604CF
c.
1701Q
d.
1701
e.
2316
1601C
b.
1604CF
c.
1701Q
d.
1701
e.
2316
(31)Which of the following BIR forms is used for filing income tax returns for mixed
income (compensation, business, and professional income)?
a.
1601C
b.
1604CF
c.
1701Q
d.
1701
e.
2316
(32)May the purpose of a tax partly public and partly private without violating the
limitation that a tax must be for public purpose?
a.
Yes. The purpose to be accomplished by taxation need not be exclusively
public. Although private individuals are directly benefited (e.g. giving aids to victims
of flood/typhoon), the tax will still be valid provided such benefit is only incidental.
b.
No. The purpose to be accomplished by taxation need to be exclusively public.
To benefit private individuals will be tantamount to deprivation of property of those
who paid the tax without due process.
c.
Yes. The purpose is not important as long as the use of the tax can be
properly accounted for.
d.
National defense
b.
c.
d.
CORPORATE TAXATION
(34)Hungry Shark corporation, in its third year of operations, had the following data:
Gross Income, Philippines
2,000,000.00
P1,000,000
(b) P2,000,000
(c)
P500,000
(d) P1,500,000
(d) The first statement is false but the second statement is true
(d) The optional gross income tax (GIT) applies to domestic and resident
corporations.
(38)Which of the following statements is wrong?
(a) The quarterly income tax of a corporation for any of the first, second or third
quarters is filed, and the tax due is paid, within sixty (60) days after the close of the
quarter.
(b) The annual income tax return of a corporation is filed, and the tax due is paid
on or before the fifteenth day of the fourth month following the close of the taxable
year
(c) There can be an income tax refundable in a quarterly income tax return of a
corporation
(d) There can be an income tax refundable in the final income tax return of a
corporation
(a)
Is based on the net income per books after the income tax
(40)All, except one, of the following, are not subject to the improperly accumulated
earnings tax (IAET). Which is the exception?
(a)
Publicly-held corporations
Insurance Companies
(41)The following except one, give rise to the presumption that a corporation is
improperly accumulating profits. Identify the exception:
(a)
(d) Even activities registered with the Philippine Economic Zone Authority (PEZA),
from the profits from which the remittance is applied for, will be subject to the profit
remittance tax.
(45)Corporations exempt from income tax are enumerated under Section 30 of the
National Internal Revenue Code.
Statement 1: They are not subject to income tax on income received which are
incidental or necessarily connected with the purposes for which they were
organized and are operating.
Statement 2: They are subject to income tax on income of whatever kind and
character from any of their properties, real or personal, or from any activity
conducted for profit, regardless of the disposition of such income.
(a)
(d) Joint venture or consortium for engaging in energy operations under a service
contract with the government.
(47)Reasonable needs of the business is inconsistent with the concepts of IAET
when:
(a) The direct correlation of anticipated needs to the accumulation of profits is
proved.
(b) It is not necessary for the purpose of the business considering all the
circumstances of the case
(c) The immediacy test under the American jurisprudence is adopted in
Philippine jurisdiction
(d) Construed as immediate needs of the business including reasonable
anticipated needs
(48)For purposes of determining the Improperly Accumulated Taxable Income for a
taxable year, the following, except one, are added to that years taxable income.
Which one?
(a)
(52)Which of the following need not be deducted from gross sales to arrive at gross
income for purposes of computing MCIT of a merchandising/ manufacturing
concern?
(a)
Cost of sales
(53)Which of the following need not be deducted from gross sales to arrive at gross
income for purposes of computing MCIT of a service concern?
(a)
Cost of sales
(54)Which of the following need not be deducted from gross sales to arrive at gross
income for purposes of computing OCIT or GIT of a merchandising/ manufacturing
concern?
(a)
Cost of sales
(55)Which of the following need not be deducted from gross sales to arrive at gross
income for purposes of computing OCIT or GIT of a service concern?
(a)
Cost of sales
Registered activity
Both activities
2% of gross income
(59)A corporation which was registered with the Bureau of Internal Revenue in May
2007 shall be covered by MCIT in:
(a) 2008
(d) 2011
(b) 2009
(c) 2010
(60)The BIR form used by corporations to file quarterly income tax returns:
(a) 1702
(d) 2550Q
(b) 1702Q
(c) 2550